Ideafoster. Innovation Deconstruction Program

Transcription

1 Ideafoster Innovation Deconstruction Program

2 The Innovation Deconstruction Program: FAST INNOVATION TO TRANSFORM A BUSINESS FUTURE in 1 DAY, 1 WEEK or 1 MONTH

3 The Innovation Deconstruction Program

4 Introduction IDP HOW CAN SUCESS IN INNOVATION BE MEASURED The Innovation Deconstruction Program (IDP) is an innovation acceleration initiative created to generate, execute, and test a number of ideas (10 to 50) in a short period of time.? 4

5 The IDP Objective IDP THE IDP OBJECTIVE The Innovation Deconstruction Program mixes ideation sessions with idea prototyping and testing: IDEATION SESSIONS The team or teams participating in the IDP will be trained on Fast Innovation by Ideafoster's experts in active and intense sessions: During the training sessions, a number of ideas will be generated to be prototyped and tested. IDEA PROTOTYPING AND TESTING Each generated idea will be prototyped through an ecosystem of cutting-edge start-ups, and tested with up to real users. After the testing phase, all the prototyped ideas will be compared and prioritized to see which ones showed better results and should be moved to the next stage. 5

6 Innovation time metrics IDP There are two important Time Metrics that play a key role in the innovation process of every company. Those two metrics are widely used during the program: TTT TIME TO TOMB How long would it take a company to file bankruptcy if it stopped innovating at all? This is what Time to tomb measures: A startup's usual TTT Is around 2 months, while a big corporation's TTT is closer to 10 years. TTP TIME TO PROTOTYPE How long does it take an idea to be prototyped and tested within a company? Startups take 1-2 weeks to move from idea to prototype. Corporations can take up to 1-2 years to achieve the same. 6

7 The Innovation Deconstruction Program

8 The Process IDP The IDP is divided into 3 different stages. Both Ideafoster and the client play key roles in these stages, participating and coming together in different ways: PREPARATION STAGE (ENIGMA Process ) The goal of this stage is to analyse the company s challenges and also the potential areas desired for innovation. IDEA PROTOTYPING (TRI-LOOP Model ) 5 new ideas are prototyped every week. All the ideas are generated through weekly innovation sessions within the company. MEASURING AND LEARNING All ideas are tested with targeted real users and results are compared among them all. WEEK 1 > WEEK N IDEATION (5 NEW IDEAS) DAY 1 PROTOTYPING DAYS 2-4 DAY 1 > DAY 5 TESTING DAY 5 ENIGMA Fast Innovation Kick-Off Sprints Idea deliverables Innovation Report PRE DURING POST 8

9 THE ENIGMA PROCESS The ENIGMA Process consists of a series of 6 steps that we follow hand in hand with the client in the period of 1 week before we start to generate ideas in order to get to know the company challenges and the areas where they wish to innovate. Evaluate weaknesses Navigate through challenges Identify key areas to explore Gather insights from lost causes ENIGMA Motivate and empower creativity Ask the right questions The Process IDP 9

10 THE ENIGMA PROCESS E N I G WHAT WHO OUTCOMES Evaluate weaknesses Navigate through challenges Identify keys areas to explore Gather insights from lost causes IF + Key Stakeholders Ideafoster research team IF+Key stakeholders One-on-one meeting with EPIC Subject matter experts (SMEs) List of EPICs (areas) which will be targeted during the IDP process Defining what are existing/future challenges on each key EPIC (logistical, analytical, technical) Creating IDP weekly timeline Understanding status quo, what worked and what did not work, understanding ways of working M Motivate and empower creativity Cross functional round robin exercise with SMEs, lead by IF team List of ideas to be developed during the week A Identify keys areas to explore Survey to all stakeholders, created by IF team Result of survey taken by all the stakeholders (big and small as well as internal and external) The Process IDP 10

11 KICK OFF SESSION The session at a glance What is fast innovation TTT, TTP, Understanding innovation from a speed point of view Idea generation Generate idea #1 and kick off the prototyping with the team of developers. Fast innovation transformation Illustrative use cases, fast innovation dilemma Live prototyping Fast innovation team developing the concept (brand) and doing live testing to consumer 4 Idea #1 prototyped. Two hours later, the real project will be live and accessible from the Internet and moved to the next stage (testing) Idea Prototyping IDP 11

12 WEEKLY ROADMAP Every week, a new ideation session will be conducted with specific company stakeholders around the chosen challenge, with the final objective of generating 5 new ideas and prototyping + testing them with real users. A typical week roadmap follows the Tri-Loop model : 2 BRANDING & PROTOTYPING Each idea will receive a specific branding (logo, name, domain and online presence) and a prototype itself, consisting of a landing page plus product demo. 1 IDEA GENERATION A mix of methodologies to generate unique ideas, combined with market research and start-up safari, is used to generate the ideas to be tested LIVE TESTING All ideas compete in ads platforms (Google & Facebook) to benchmark which ones are best received from users, without endangering the client s brand. Idea Prototyping IDP 12

13 MEASURING AND LEARNING At the end of Stage 2, there will be 5 deliverables per every single protoyped idea: 1 Name & Branding : Unique name, imagery, and branding. No ties with the client s brand. 2 Idea s One-pager: Global view on the work done on the idea (including logo, name, tag line, description, business model, etc) in a one-pager. 3 One-pager business case: One page containing the introduction of the idea s business case: Cost structure, Revenue stream, and Expected Break-even Point. 4 Landing page and developed demo: Presentation website and demo of the product that has been tested with real users. 5 Results on testing phase: Report of the investment made on paid ads: how did the targeted audience react and behave toward the idea? The Process IDP 13

14 At the end of the process, Ideafoster will collect the following documentation and transform it into a Final Analysis and Report. This report includes the following: MEASURING AND LEARNING 1 Collection of all 2 Thorough analysis 3 deliverables of all ideas for the ideas Ideafoster s final conclusions and recommendations The Process IDP 14

15 IDEA DELIVERABLES EXAMPLE: BikeStrong The Innovation Deconstruction Program

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17 DESCRIPTION Mobile app + social community for users interested in leading a healthy lifestyle, by combining a shared passion for biking, as well as a keen desire to follow a balanced, nutritional diet. TAG LINES Be strong, with BikeStrong! Love your bike, love your life Grab your bike and get fit PROBLEM There is no proper social networking app where you can meet with people that share same interests and fitness ideals without having to pay a gym subscription. Be strong, withbikestrong! Standard: FREE BUSINESS MODEL Access to basic services including biking events around you, an array of generic diet plans and our BikeStrong community! Premium: 3,99/month or e19,99/year Access to all standard and additional services including highly personalized diet-plans, unlimited access to all available bike routes and delicious nutritious recipes. SOLUTION Connecting bikers that share a common goal and giving them the best tips, eating habits and delicious recipes. Targeted to women. Suggested Timeline (During and after program) : NAMING DAY 1 PROTOTYPING DAYS 2-4 TESTING DAYS 5-10 B.M. DEVELOPMENT WEEKS 3-5 EXECUTION MONTHS 2-3 KICK-OFF MONTH 4 During Innovation Deconstruction Program POST - Innovation Deconstruction Program

18 End-User Value Proposition 1 4 Company Value Proposition Get fit while meeting new people. Get healthy nutrition insights from other users. Collaborate with users to help other socials causes. Rediscovering exercising through meeting new people and getting together to bike. Rediscovering healthy eating habits through collaboration of friends and others experts. Cost Structure 2 5 Target Users/Sale Technical infrastructure App development Special Events costs Revenue Streams Standard ( Free, limited nutritional content and limited features) Business Case 3 6 Users: Women interested in fitness and health. Projected Sales: 5,000 total app users, 10% paid users by the end of Month 6. Expected break-even point Premium ( 3,99/month, personalized diet plans and unlimited access to all features) If Pilot aim is achieved, we expect the break even point to be after 12 months of app launch.

19 Logo & Tag Line Key Content Call to action 1 Services Offered Key Content Call to action 2 Landing Page

20 Testing Phase PAID MEDIA CAMPAIGNS Budget: 920 Duration: 7 days Audience Details: Location: Spain: Barcelona (+53 km) Age: People Who Match: Interests: Health & wellness Sports Health Wellness Cycling Potential total reach: 1,600,000 people Daily Results: Reach: 42, ,000 (of 1,300,000) Link clicks: 590 3,700 (of 5,700) Adverts placement: Facebook News Feed ( PC & mobile) Right Facebook Column Instagram FB Audience Network Ad #1

21 Testing Phase GENERAL RESULTS Campaign #1 132,446 users 2, Campaign #2 79,213 users 1, Campaign #3 141,681 users TOTAL REACH WEBSITE VISITORS CAPTURED LEADS TOTAL (clicks) LEADS

22 Testing Phase CAMPAIGN DETAILS Ad #1 Ad #2 Ad #3 Reach Clicks (Audience 1) Clicks (Audience 2) Clicks (Audience 3) Clicks (Audience 4) Website Visitors Campaign #1 132, ,117 Campaign #2 79, ,483 Campaign #3 141,

23 Testing Phase CAMPAIGN DETAILS RANKING & FINAL CONCLUSIONS Interest (Clicks) Captured Leads CONCLUSIONS Average 2, BikeStrong 4, Four different audiences (based on demographics and behavior) were compared. Results showed that the first audience showed the biggest interest (1,640 visits vs. 598 visits from the third audience). FORGET Total budget invested was 920 which is lower than the average for this series of prototypes. #11 KEEP The idea ranked as 7 th in the global IDP program, showing 22% less interest from users than the average top 5 ideas. RANKING RECOMMENDATION PURSUE!F recommendation is to keep an eye on the concept but not pursue immediately.

24 Thank you