My Thoughts & Views

Embracing web 2.0 in your workplace: 8 success factors for turning customer insights into action

Posted on: July 21, 2007

The shift in customer behavior from passive consumers to active participants provides new opportunities to identify latent needs and keep your finger on the pulse of change. Embracing user generated media in your innovation processes can accelerate time to market, enhance business agility and increase competitive differentiation.

Transcript of the slide show:

Slide 1: Embracing web 2.0 in your workplace: 8 success factors for turning customer insights into action by : dirk shaw

Slide 2: Italian motorcycle manufacturer Ducati aligned its marketing department with a central “community” function, involving its customers in design, communication, and the brand experience. • The firm sold 31% more bikes in Q3 2005 than it did a year earlier • Increased number of page views by 60% in 2004, • 9 million downloads of brochures, bike sounds, and movies. “Ducati killed its marketing – and prospers” Forrester research

Slide 3: Lego’s toy community draws in users to share with one another and influence the direction of the company. • Input on product development recouped the investment 10 times over in 18 months

Slide 4: Innocentive.com enables Eli Lilly’s 6000 researchers to use 25,000 solvers from 125 countries. • Companies have documented 20-fold increase in R&D productivity. • Reduces biological drugs’ time-to-market using nimble biotech startups.

Slide 5: Today’s customers are actively participating, connecting and sharing ideas through a number of channels. * Social Computing Forrester Research

Slide 6: 175,000 blogs are created each day; that is about 2 every second, totaling 50 million blogs.

Slide 7: What compelling events are triggering a spike in conversation? News: Nike is recognized by FORTUNE in 2006 News: NASA Announces New Window For Next Space Shuttle Mission

Slide 8: Quickly respond to the pulse of these conversations to outpace competition

Slide 9: er om ust C Innovation Process yee plo Em r tne Par Integrate customer insights to ensure you meet demand, reduce waste and increase loyalty

Slide 10: * Engage customers in the innovation process with social software to identify latent needs * Running a business on Web-based software By:Dion Hinchcliffe

Slide 11: Identify and engage key influencers who are shaping perception of your brand

Slide 12: Build a global collaboration platform to validate, refine and test ideas

Slide 13: Formalize the lifecycle of an idea to accelerate the process from inception to value creation Idea Generation Idea Elaboration Idea Concept Innovation network Idea Elaboration Network Idea Market sensing Generation Partners Product Employees Customers Development Employees Partners Legal Marketing Prototype Idea Idea Idea Research Product Customer Training Focus Generation Prioritization Network Specifications Community Community Group

Slide 14: Source new ideas in context of an experience (online, call center or in store)

Slide 15: Use multiple perspectives to ensure good ideas are not dismissed

Slide 16: Become an active participant in the social web

Slide 17: 8 success factors for turning customer insights into action 1. Quickly respond to the pulse of these conversations to outpace competition. 2. Integrate customer insights to ensure you meet demand, reduce waste and increase loyalty 3. Engage customers in the innovation process with social software to identify latent needs 4. Identify and engage the key influencers who are shaping perception of your brand 5. Build a global collaboration platform to validate, refine and test ideas 6. Formalize the lifecycle of an idea to accelerate an idea to value creation 7. Use multiple perspectives to ensure good ideas are not dismissed 8. Become an active participant in the social web.

Slide 18: Will your organization leverage the wisdom of the crowd to drive innovation?

Slide 19: More conversations are taking place online about your brand today than ever before

Slide 20: Integrating customer insights will accelerate new opportunities for innovation

Slide 21: Using the crowds to build an idea pipeline can drive competitive differentiation

Slide 22: Embrace social media to accelerate innovation in your organization

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