aom16 lean insights big impact
TRANSCRIPT
#SDAOM
CLYNTON TAYLOR @clynton
Lean Insights, Big Impact
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Out of toilet paper? Tweet it!
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The world is changing faster today than at any other point in history.
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No memory of the 20th CenturyY2K is a meaningless termHong Kong has always been part of China9/11 has always been in their textbooksNapster has always been legalNetflix and eBay have always existedThe weird sounds from dial-up? What?
College Freshmen today…
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2500000000000000000
2.5 quintillion bytes of data are generated every day
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Changes are getting STEEPer.
SocietalTechnological
EconomicalEnvironmental
Political
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The number of people 65 and older will triple by mid-century to 1.5 billion.
Societal
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Organovo has made its 3D printed liver tissue commercially available.
Technological
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We are preparing to take humans to mars.
Technological
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150
UK
50
USA
15
China
15
India
The number of years it took to double the GDP per capita:
Economic
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India is the fastest growing major economy in the world.
Economic
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The US has had 13 $1B+ extreme weather events so far this year.
Environmental
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SMOG is blamed for 7 million deaths every year.
Environmental
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Political
Syria has been decimated sending upwards of 5 million people fleeing.
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In such a disruptive climate it’s increasingly hard for
companies to grow.
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1958
61
1980 2011
1825
Average number of years S&P 500 companies survived on the index:
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We’re living in an increasingly VUCA world.
VolatilityUncertaintyComplexityAmbiguity`
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The world is littered with dead companies that didn’t adapt
fast enough.
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Kodak, while out of bankruptcy, is just a shell of its former self.
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Blackberry lost another $670 million US in the first quarter.
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Blockbuster went from 9000+ stores in its prime to only a handful today.
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So the big question is, how do you not only survive,
but thrive in a VUCA world?
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Some companies turn to new technology.
Others try switching up their business model.
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But strategy born from customer experience is more likely to lead to sustained success.
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Companies that foster meaningful experiences with customers outperform the stock market by 133%.
And increase share of wallet by 46%.
− Havas Media
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Meaningful
Emotional
Functional$
$$$
Not all experiences are equal.
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Companies that create meaning in people’s lives enjoy more loyalty, higher margins, and ultimately bigger profits.
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So how do you figure out what experiences people will want?
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This takes deep insight into what people desire.
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But in a rapidly changing world, getting to insights quickly is
what’s important.
So how do we do that?
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We can borrow a page from the Lean Startup playbook.
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Implementation-driven
Product management
Specify before building
Failure is exception
Operates on complete data
Hypothesis-driven
Customer development
Build iteratively
Failure is expected
Operates on good-enough– Steven Blank
Traditional Lean
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The ability to quickly figure out what customers want, building on learnings through an iterative process.
Lean Insights
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1 Hangout With Your Customers
Six Principles of Lean Insights
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The Axe team went to parties with young guys to learn how to connect with them.
1 Hangout With Your Customers
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2 Utilize Friends and Family
Six Principles of Lean Insights
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Dove discovers unmet needs from an employee’s wife to develop a new marketing strategy.
2 Utilize Friends and Family
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3 Ask Multiple Whys
Six Principles of Lean Insights
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Target shops with teens and gains an insight worth $8B USD annually.
3 Ask Multiple Whys
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4 Prototype Quickly and Often
Six Principles of Lean Insights
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Kimberly Clark uses QVC to identify the message that pays.
4 Prototype Quickly and Often
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5 Embrace Extreme Users
Six Principles of Lean Insights
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Swingline Staples tests a new product with airline check-in agents, and saves millions.
5 Embrace Extreme Users
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6 Don’t Wait for Approval, Go!
Six Principles of Lean Insights
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An HP designer goes rogue to work with engineering and create a new printer.
6 Don’t Wait for Approval, Go!
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1 Hangout With Your Customers
Six Principles of Lean Insights
2 Utilize Friends and Family
3 Ask Multiple Whys
4 Prototype Quickly and Often
5 Embrace Extreme Users
6 Don’t Wait for Approval, Go!
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Thank You!
@Clynton
/Clynton
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We landed a space probe on a comet 300 million miles from earth.
Technological
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Netflix executives called customers to go watch movies with them in their homes.
1 Hangout With Your Customers