smart pen case dtudy

8/8/2019 Smart Pen Case Dtudy

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ApplyingBlueOceanStrategyACaseStudyaboutSmartpen

MarkParkerm arker@smartsellin .com


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Introduction

ThispresentationcovershowSmartSellingusedBlueOceanStrategysoastocreateasustainablebusinessforSmartpenAustralia.

Thisversion

of

the

presentation

includes

explanation

of

the

core

componentsofBlueOceanStrategy.

CertainimageswithinthispresentationareownedbyUCSIBOSRCandBluecean ra egy.

TheBlueOceanStrategybook isavailablefrommostgoodbookstoresand


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Background Livescribe

ThePulseSmart enwaslaunchedin2007intheUS http://www.livescribe.com

ThePulseSmartpenisacomputerinapen.Itcaptures

audioandsynchronisesthistowhatyouarewriting.

ThePulse

Smartpen

has

won

international

acclaim,

includin :


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Background Smartpen

Smart enisanAustralianbusinessthatsellsthe

LivescribePulseSmartpen

http://www.smartpen.com.au

SmartpenwasthefirstresellertoofferLivescribeforsale

.

Smart enhasnoretail resence itsa ureonlinestore Thestartupmodelcouldbedescribedas

bootstrappingthe

business


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TheProblem


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TheProblem

Thecom etitionarrivedshortl afterSmart enlaunched

onlinesales.ItwasannouncedthatthePulseSmartpen

wouldalso

be

sold

through

Officeworks

Officeworksareanationalretailofficesupplieschain

Officeworkscoulds endmoreonabovetheline

marketingandcouldoutdiscount

Officeworkshadtheretailpresencetobettercaptureimpulsebuyers


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TheSolution

Smartpenwasntinapositiontocompeteontraditional

Goin head to head wasnt an o tion. The wouldvedestroyed us

K. Palmer Sales Manager Smartpen

focusingonvalueinnovationratherthanheadtohead

competition


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TheSolution

thequestionforSmartpenwaswhethertheycouldtap

intothat

otential

Dont Compete with Rivals, Make Them Irrelevantwww.blueoceanstrategy.com


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BlueOceanStrategy&ValueInnovation


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TheImportanceofValueInnovation

soughttoachieve.

Savecostsbyeliminatingand/orreducingthebarriersfornoncustomers

Liftvaluebyraisingorcreatingelementstheindustry

Dont Compete with Rivals, Make Them Irrelevantwww.blueoceanstrategy.com


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UsingBlueOceanStrategy

SmartSellin workedwithSmart enthrou hthecore

Strategysteps:

1. VisualAwakening

.

3. Socialisin theStrate Strate Fair

4. Executionof

the

Strategy


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Step1 VisualAwakening


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Step1 CreateanAsIsStrategyCanvas

Thestrate canvasisbothadia nosticandanaction

framework.

Itcaptures

the

current

state

of

play

ItsalsousedtocreatetheToBecanvas

strategycanvas.


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Step1 VisualAwakening

TheAsIsstrate canvaslookedlikethis


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WhatDoesThisTellUs?

Smart enhadlittleo ortunit todifferentiate

Officeworkscontrolled

the

factors

that

could

most

damageSmartpensabilitytoremaininthemarket

Abovethelineadvertisin


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Step2 VisualExploration


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VisualExploration SixPathsAnalysis

AsSmartpentransitionedintotheExplorationstage,timewasspentontheSixPathsAnalysis lookingacross

alternateindustries,groups,productsandservices

Thisanalysisidentified: Applestores howtheyharnessdesireand

enthusiasm.

n us ness,w ospen sa oto t meta ngnotesor

minutes?

Howdothesubgroupsofeducatorsworkand

communicate


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Step2 VisualExploration

Fromthisstudyweidentifiedanumberofnewcustomersegments seediagram .

Ourfocusshiftedtowhatbarriersexistedforthesenon


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WhatDidWeHearfromNonCustomers?

Whatdoesitdo?

Iwork

in

asmall

rural

school.

How

do

we

buy

one?

Thisismyjob.Willithelp?

CanIuse

the

pen

to

create

mini

tutorials

for

my

students?

I

work

with

students

from

non

English

speaking

backgrounds;howwillthishelp?


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Step3 VisualAwareness ERRCGrid

Ourfieldresearchledustodevelo thefollowin Four

ActionFramework


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Step3 VisualStrategyCreation


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VisualStrategyCreation ToBeCanvas

Throu haseriesofiterationsaToBeStrate Canvaswas

developed


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TheStrategyFair

TheToBeStrate Canvaswassuccessfull validated

withallstakeholders.

Executingthestrategyinvolvedtwothings:

.

2. Develo mentandexecutionofasocialmedia

strategy


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CreatingtheBlueOcean

TheBlueOceanfornoncustomerswasinthesocial

sphere usingsocialtechnologiestoremovethebarriers

forthese

non

customers

so

they

could

become

customers

,

thatwould

allow

it

to

connect

with

these

non

customers


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BlueOceanStrategy&SocialMedia

Atthecoreofthestrate were rinci lesthatincluded:

1. Listening initiallypassivebutsoonconversationallistening2. Beintheirsocialspace goouttotheirworldsandcontribute.

. e peveryone even ey n purc ase rom mar penhelp

them

anyway

4. EncourageInnovation encourageuserstoinnovate;crowdsourcehowandwheretheproductcouldbedeveloped

5. BePatient beingsocialbuildsloyalty.Itwonthappenovernightbutitwillhappen


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SocialMediaStrategy

Thisisonewayoflookingatthestrategy

Out here welisten and

learn

The

The tools to

facilitate the

SMARTPENdialogue


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SocialMedia ListenandLearn

Goal Listentothecommunit andlearnfromthemStrategy

1. WeusetoolslikeGoogleAlerts,Twitter,andScout

Labstolistentotheconversation

2. ScoutLabs

has

proven

more

effective

as

we

can

tracksentiment

3. Twitter

search

is

good

for

Twitter

specific

traffic


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SocialMedia Engage.Dialogue

Goal Gointothesocialworldande n a eStrategy

1. Wecontributeadviceandknowledgeinspecific

socialnetworksandforums

2. Bevery

diligent

about

not

trying

to

sell

3. If wecantmeettheirimmediateneed sendthem

towheretheycan(i.e.theenemy)


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Summary

Smartpenneededtocompeteagainstamajorlegacyretailer

forsales

of

the

Livescribe

Pulse

Smartpen

Solution:

1. Smartpenused

Blue

Ocean

Strategy

to

identify

non

customersandthebarriersthatpreventedthem

ecom ngcustomers.

.

customersandcreateablueoceanoutcome


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Acknowledgements

BlueOceanStrategy: SpecialthankstoPhillipNgandhisteamfromUSCIBOSRC CopyrightformanyofthestandardBlueOceanStrategyimages

inthis

presentation

are

owned

by

USCI

BOSRC.

Phillipcanbecontactedon(03)[email protected]

BlueOcean

Strategy: Visittheirwebsite www.blueoceanstrategy.com

Contacts:

MarkParker SmartSelling [email protected]

(0414)725549

ContactSmartSellingifyoureinterestedinlearninghowBluecean trategycou e pyour us ness


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OtherBackground

Smartpen: BasedinBrisbane,SmartpensuppliestheLivescribePulse

SmartpenthroughoutAustraliaandNewZealand.

SmartSelling: ProvidedtheBlueOceanStrategyandSocialMediaexpertise

toSmart en.

Based

in

Brisbane

Smart

Selling

is

focused

on

delivering

innovationthroughtheuseofBlueOceanStrategyandsocial

SmartSellinghassincemadeafinancialinvestmentinSmartpen

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