fronteer strategy presentation efinancials co creation nov 2010

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10 STEPS FOR SUCCESSFUL CO-CREATION IN FINANCE

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Page 1: Fronteer strategy presentation efinancials co creation nov 2010

10 STEPS FOR SUCCESSFUL

CO-CREATIONIN FINANCE

Page 2: Fronteer strategy presentation efinancials co creation nov 2010

EFINANCIALS2010

Page 3: Fronteer strategy presentation efinancials co creation nov 2010

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Door: Martijn PaterFronteer Strategy

Amsterdam, 4 November 2010

Page 4: Fronteer strategy presentation efinancials co creation nov 2010

TOUCHPOINTS

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

“Dear Bank of America: Despite being an overwhelmingly large and powerful banking entity, I find you wildly inept. For this reason, I feel as though we ought to part ways. It's not you - it's me. I need to try and find myself, and feel it unfair to stay with

you. Be well, BofA. Yours always, disgruntled banking patron"

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EMPATHY

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Top-10 Empathic Brands 2010

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Attractive

Empathic

Source: Ruigrok Netpanel, Fronteer Strategy

Page 10: Fronteer strategy presentation efinancials co creation nov 2010

1,5 2,0 3,0 4,0 4,53,5

1,5

2,0

3,5

4,0

4,5

EMPATHISCH

2,5

AANTREKKELIJK

2,5

Derde variabele zichtbaar in grootte van stip: Innovatief

Efteling

RTL4

PhilipsSony

Nokia

Samsung

Canon

Apple

PanasonicLG

Dirk van der Broek

Plus

Aldi

LidlJumbo

C1000

Blokker

Hema

Albert Heijn

Bol.comIkea

Jupiler

Grolsch

Heineken

Nescafe

Cup a Soup

Coca Cola

Douwe Egberts

Pickwick

Tele2

XS4ALL

UPC

Ziggo

KPN

FoodDrankenRetailBankenInternetprovidersElectronicaOverigFriesland Bank

Van Lanschot

Triodos ASN Bank

SNS Bank

ABN Amro

RabobankING

Cela VitaLassie

Grand ItaliaBertolli

Maggi

Heinz

UnoxHonig

Knorr

Conimex

Calve

Remia

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Category differences

Source: Ruigrok Netpanel, Fronteer Strategy

Top-10

Banks

Page 11: Fronteer strategy presentation efinancials co creation nov 2010

MEGATRENDS

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

AUTHENTICITY

TRANSPARENCY

DESIGN

COLLABORATION

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Page 13: Fronteer strategy presentation efinancials co creation nov 2010

10 STEPS FOR SUCCESSFUL

CO-CREATION

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

1. Realise one thing2. Define your strategy3. Inspire participation4. Select the very best

5. Connect creative minds6. Share results

7. Continue development8. Think R.O.I.

9. Get the IP right10. Mobilise internally

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“Co-creation unlocks the collective creativity of

people to create deeply relevant solutions.”

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What is it?

Source: Copenhagen Co-creation

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

1. Realise one thing

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“No matter who you are, most of the smartest people

work for someone else.”

Bill Joy, Founder Sun Microsystems

Why?

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

2. Define your strategy

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Page 20: Fronteer strategy presentation efinancials co creation nov 2010

Club of Experts

Crowd of People

Community of Kindred Spirits

Coalition of Parties

Anyone can join

Selection process

Initiator Initiator + Contributors

Ownership

Open-ness

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

4 Types of Co-creation

20 Source: Fronteer Strategy Whitepaper

Page 21: Fronteer strategy presentation efinancials co creation nov 2010

Club of Experts

Anyone can join

Selection process

Initiator Initiator + Contributors

Ownership

Open-ness

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 21

4 Types of Co-creation

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 23

Centraal Beheer

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Crowd of People

Anyone can join

Selection process

Initiator Initiator + Contributors

Ownership

Open-ness

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 24

4 Types of Co-creation

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Rabo Chatbetalen Campaign

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Page 27: Fronteer strategy presentation efinancials co creation nov 2010

Community of Kindred Spirits

Anyone can join

Selection process

Initiator Initiator + Contributors

Ownership

Open-ness

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 27

4 Types of Co-creation

Page 28: Fronteer strategy presentation efinancials co creation nov 2010

Peerbackers community equity

28 Link: Peerbackers

Page 29: Fronteer strategy presentation efinancials co creation nov 2010

Flattr social micropayments

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. Link: Flattr29

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Coalition of Parties

Anyone can join

Selection process

Initiator Initiator + Contributors

Ownership

Open-ness

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4 Types of Co-creation

Page 31: Fronteer strategy presentation efinancials co creation nov 2010

Pin banking coalition

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Page 32: Fronteer strategy presentation efinancials co creation nov 2010

Corsini Due home-owner funded

Link: Corsini Due site

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 32

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

3. Inspire participation

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Link: Worldbank site34

Worldbank software sourcing

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Obama crowdfunding

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

4. Select the very best

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

100% Consumers

1% Creators

10% Synthesizers

But you have to look for your 1%

39 Source: Fronteer Strategy Whitepaper

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 40

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Explorers

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Heroes

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 42

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Innovators

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

5. Connect creative minds

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Fool’s Gold

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DSB The Movie co-created

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

6. Share results

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

7. Continue development

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Page 52: Fronteer strategy presentation efinancials co creation nov 2010

Centraal Beheer innovatieproces

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

8. Think return on investment

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Page 54: Fronteer strategy presentation efinancials co creation nov 2010

ABN AMRO Seeds Crowdfunding

54 Link: Seeds site

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Open Innovation ROI

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BIGGER...

BETTER...

FASTER...

Results

STRONGER...

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Innocentive

Cost savings.Savings from faster research process.

Access to a diverse network of experts.Fostering a more innovative culture.

Smoother IP transfer process.

ROI of 74%

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Source: Innocentive, Forrester

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

9. Get the IP right

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With:

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‘The Amsterdam Model’

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What will the future bring?

How will value be distributed?

Who owns what?

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

10. Mobilise internally

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Page 61: Fronteer strategy presentation efinancials co creation nov 2010

DRIVERS:

Reputation Building

Sense of belonging

Networking

Peer recognition/Status

Job market opportunities

Fun & involvement

Skill-Building

New challenge

Love the brand

Money (never main driver)

BARRIERS:

Unclear rewards

No interest in the challenge

Trust

Participants’ Drivers & Barriers

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Source: Fronteer Strategy

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FansAmbivalentOpposers

Anna Kirah

Source:

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Internal bloodgroups

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DANK U

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FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

Martijn [email protected]

Page 66: Fronteer strategy presentation efinancials co creation nov 2010

ABOUT FRONTEER STRATEGY

Page 67: Fronteer strategy presentation efinancials co creation nov 2010

Fronteer Strategy

Innovation.

Co-creation.

Brand Development.

Change.

Leading Co-creation consultancy.

Blue chip client base in The Netherlands and abroad.

People’s background in fashion, design, engineering, marketing, consulting

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Page 68: Fronteer strategy presentation efinancials co creation nov 2010

ROOFTOP™Expert Co-creation

FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.

We offer in co-creation

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CAMPSITE Community Co-creation

Link: Fronteer Strategy

Page 69: Fronteer strategy presentation efinancials co creation nov 2010

Links Visit our website

www.fronteerstrategy.com

Updates from the Fronteer

www.fronteerstrategy.com/blog/

Follow us on twitter

twitter.com/fronteerstrat

twitter.com/martijnpater

Slideshare

www.slideshare.net/Fronteer

Our whitepaper on co-creation

Co-Creation’s 5 Guiding Principles

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