how ad agencies become innovation partners
DESCRIPTION
This is a 10-minute presentation I gave at the Digiday Agency Summit in Oct 2014. It explains why Lateral Innovation is the best opportunity for agencies to help clients with their innovation efforts. It compares how GE talks about innovation over a 60-year period to illustrate the differences in Vertical vs. Lateral Innovation. Finally, it stresses a need for agencies to invest more heavily in financial and commercial expertise to effectively play the role of "innovation partner" for any client. Like all of my presentations, it loses quite a bit without voice-over, but you can read about this and other innovation philosophy in-depth at http://finch15.com/blog.TRANSCRIPT
@saneel | #digidayDAS | digiday agency summit
AGENCY INNOVATION PARTNERS
who am I?
we offer incubator services
to brands
DEFINING INNOVATION
in·no·va·tionnoun \ˌi-nə-ˈvā-shən\
the introduction of something new-Merriam-Webster
in·no·va·tionnoun \ˌi-nə-ˈvā-shən\
the introduction of something new [& relevant]-Merriam-Webster-Radia
what’s relevant?
vertical innovation
lateral innovationlateral innovation
lateral innovationlateral innovation
THE AGENCY OPPORTUNITY
brand-driven innovation
reward
risk
VERTICAL INNOVATION
brand-driven innovation
• improve existing offerings • pursue a destination • realistically extrapolate ROI
reward
risk
LATERAL INNOVATION
VERTICAL INNOVATION
brand-driven innovation
• improve existing offerings • pursue a destination • realistically extrapolate ROI
• create new offerings • venture into unknown • disproportionate ROI
reward
risk
LATERAL INNOVATIONBRAND-LED
INNOVATION
VERTICAL INNOVATION
brand-driven innovation
• improve existing offerings • pursue a destination • realistically extrapolate ROI
• create new offerings • venture into unknown • disproportionate ROI
reward
risk
{BRAND IMPACT}LATERAL INNOVATION
VERTICAL INNOVATION
brand-driven innovation
reward
risk
tools of the craft
“who the hell is in charge, a bunch of accountants trying to make a dollar into a dollar ten?” -Don Draper
brand-led exploration
brand-led exploration + brand-mitigated risk
brand-led exploration + brand-mitigated risk
+ financial expertise
brand-led exploration + brand-mitigated risk
+ financial expertise = new & relevant opportunities
!
brand-led exploration + brand-mitigated risk
+ financial expertise = new & relevant opportunities
!
= AGENCY INNOVATION PARTNERS
@saneel | #digidayDAS | digiday agency summit
THANK YOU