amsrs 2014 brandhook & anz innovation case study
TRANSCRIPT
Co-creation in the Consumers World
Michael BloomfieldHead of Market Research
Pip StocksFounding Partner
ANZ BrandHook
CO CREATING IN THE CONSUMERS WORLD
Co-creation creates brand advocates
Living in their world means insight driven innovation
An iterative methodology results in actionable solutions
BASE IDEA FIRST
ITERATION
SECOND ITERATION CONTINUOUS IMPROVEMENT
HONES IN ON THE BEST SOLUTION
Using the premise of The Wisdom of the Crowds
The Wisdom of the Crowd
Large numbers of
ordinary people
deliver better
solutions than a
small number of
experts.
Electrolux Design Lab
Orange UK
Nivea Invisible
An immersive, iterative approach
Methodology
Utilising our online community – the Grapevine – we employed a number of
ethnographic online techniques to uncover the unmet needs of the segment and then
housed them for 3 months facilitating the continuous conversationNetography
Presumers
Our leading edge, forward thinking, international Presumers were tasked with
identifying the latest trends within and outside the financial sector and help create
concepts that we would later test with the Australian consumers
Client workshops
Immersions
Consumer Q&A
Recognising that co-creation should come from all sources, three client
workshops were held at the end of each month to ensure the client voice
was heard and insights from the consumer were spread across the whole
business throughout the process
To truly live within the consumer world, we conducted a series of consumer immersions
which allowed us to go into the homes of the consumers, help bring them to life via films
and truly understand the insights identified
As part of Month 2 workshop, we invited selected consumers from
The Grapevine to meet and co-create within the client workshop so
the internal stakeholders could hear first hand from their
consumers and ask them the pertinent questions
Two overarching themes that drove the concepts
Our key tribes are maximising
every cent.
MAXIMISING
Not yet scathed by big financial
decisions, our consumers were
still optimistic about the future.
OPTIMISM
Advocates mean business
Brand Advocates spend
2 x more than average
customers on their favorite brands
20 students are charged
with promoting the brand on
campus for 12 months.
ASOS Brand Advocates
23% increase in
transactions to small business
merchants
American Express small business advocates
The ANZ participants became advocates
T R A N S F O R M A T I O N
The creation of advocates - ANZ
70% It makes me think of ANZ
differently
64% I will be checking to see whether
ANZ do deliver any of these ideas
56%If ANZ were to develop these
ideas, I would definitely consider
taking them up
9%This doesn’t change my
impression of ANZ
significantly7% These ideas don’t suit what I
know about ANZ
Building business with those advocates
WINNING CONCEPT
89% appeal across all of the Young Money
segment.
82% would switch or consider switching for
this product in the future
82% appeal across all of the Young Money
segment
88% appeal amongst ANZ customers
SECOND FAVCONCEPT
76% appeal across all of the Young Money
segment
49% of females would consider switching their bank for this
product
THIRD APPEALING
CONCEPT
The advocates in real life
Co-creation in the Consumers World
Michael BloomfieldHead of Market Research
Pip StocksFounding Partner
ANZ BrandHook