View the presentation

Transcription

Kirsten Osolind
President of RE:INVENTION
Kevin Dinino
President of KCD PR
Will Your Next Product/Service
Launch Succeed Or Fail?
Welcome to our "Driving Successful Product/Service Launches in the
Financial Services Industry" webinar.
www.reinventioninc.com
chicago • coronado
312.635.1350 • 619.342.4411
©2013 RE:INVENTION, inc. & KCD PR.
312.635.1350 • 619.342.4411
www.kcdpr.com
san san
diego
www.kcdpr.com
diego
619.955.7759
619.955.7759
page 1
Innovation in the Financial Services Industry
62% rank innovation #1
67% are dissatisfied with Innovation ROI
80% have no formal product/service development process
40% feel pressured to focus on the wrong areas of new product/service development and marketing
Less than half conduct pre-commercialization business analysis
Strongly branded products command 30% premiums
Source: 15th Annual Global Financial Industry CEO Survey, 2012
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 2
New Product Development: Financial Services Industry
invent a new offer…
gain regulatory approval…
implement the systems…
establish the business processes to deliver
additional value to your customers…
…while being faster to market than the
competition, and at costs lower than
"copycat" firms.
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 3
Traditional Paths to New Product Development
In the Financial Services Industry, New Products/Services All Too Often Fail.
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 4
Are You Ready for “What’s Next”?
In today’s tough business climate, if you're
not twenty steps ahead of your competitors,
you won’t survive.
What if you could identify new markets, new
relationships, collaborative partnerships, and
new opportunities…QUICKLY AND
SWIFTLY.
Leverage your HIDDEN ASSETS and
CAPABILITIES. The things you “don’t know
that you don’t know.”
Then make new products and
services a reality using this
intelligence?
312.635.1350 • 619.342.4411
New
New
New
New
www.kcdpr.com
revenue streams.
relationships.
markets.
collaborative partners.
san diego
619.955.7759
page 5
Discovery and Design Thinking Can Identify Unmet Market Needs
and Market Trends
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 6
Create New Context And You’ll Reveal New Solutions
Context Shift
Branding
Design
New Product Commercialization
Category and Market Shifts
Customer Service
Customer Engagement
Socialized Intelligence
New Technology Development
Internal Processes
Cross Industry Issues
312.635.1350 • 619.342.4411
www.kcdpr.com
Context Shift
san diego
619.955.7759
page 7
It Starts By Leveraging New Market Intelligence Tools
Extract
Mine
Cultivate
Customized Market Intelligence Tools
Innovation portfolio management software
Intelligence business alerts
Digital dashboards
Knowledge management platforms
Big data is useless unless it provides actionable insights.
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 8
Low Cost Data Analytics to Tap Into Consumer’s Minds
Leverage CUSTOMER SENTIMENT ANALYSIS TOOLS to mine unstructured text
using natural language processing and text analysis technologies.
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 9
From Ideation to Successful Prototyping
2013 © RE:INVENTION, inc.
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 10
The Secrets of Prototyping (Innovation Incubation Labs)
RE:INVENTION uses innovation incubation labs to help companies develop new product and
service prototypes and create next generation revenue-generating opportunities.
①
Framing Challenges
③
Whiteboards
⑤
A kickstart to the process
with challenges, timelines,
and activities
You can use interactive
whiteboards instead of post-its
to track ideas and questions in
real time (such as: GroupZap)
Group Excursion
Since answers can often be
found outside the building, a
group excursion can help you
see things anew
②
④
⑥
⑦
312.635.1350 • 619.342.4411
Strategic Ideation
A process to help you take stock of your
company’s capabilities, processes, systems,
insights, and resources
Visual Mapping
Design thinking (visual mapping and
infographics) to define context and depict your
company’s known and hidden assets, competitive
advantages, and growth opportunities
Videography
Video can be used creatively to capture collective
intelligence – you can videotape session attendees
and give them video devices to record their
excursion experiences
The Goal: Value Creation and “IP”
www.kcdpr.com
san diego
619.955.7759
page 11
Concept Testing and Market Simulation
Company size affects the speed at which new products are developed.
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 12
Five Ways to Test a Product Without Killing It
Create a Powerful Concept Statement
(focus on uniqueness, quality, and value rather than features)
Refine the Statement
(share feedback received from previous test subjects)
Conduct Focus Groups with Influencers AND Ultimate Users
Consider Alternatives to Focus Groups
After an Idea Has Been Vetted, Try Social Product Development
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 13
A Case Study
Challenge
Genworth Financial
wanted to create a
series of new
product solutions for
the women’s
market, to increase
market share and
awareness among
women.
Solution
•
Innovation Incubation Lab™
•
Customer Segmentation by Lifestage
Milestones
•
Development of a Social Media
Intelligence Platform
•
An Insights Library for Financial
Advisers with intelligent business
alerts
•
ROI
 38% increase in
product sales tied to
events
Creation of product/service packages
designed for women customers
312.635.1350 • 619.342.4411
 60% increase on
long term care
solution sales to
women
www.kcdpr.com
 250K new leads
 65% referral
increase from
advisers
san diego
619.955.7759
page 14
RE:INVENTION’s 12 C’s of Commercialization™ Model
DOWNLOAD PDF
An agile, scalable framework for bringing new products/services to market.
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 15
This Process Builds Resilience Into Your Business Model
Primary and secondary
research – insights
from influencers and
customers coupled
with market/industry
trends
DISCOVERY
Communicate in a
way that appeals to
customers and
partners using visual
cues
DESIGN THINKING
Translate market
intelligence into highimpact new product
and service prototypes
and commercialization
tactics
ACTIVATION
Our process turns
market opportunity into
PROFITS, GROWTH, and
DIVERSIFIED REVENUE STREAMS.
312.635.1350 • 619.342.4411
Repeatable, scalable
processes to adapt to
market changes and
create a culture of
transformation
ADAPTATION
www.kcdpr.com
san diego
619.955.7759
page 16
So YOUR COMPANY
can create a CULTURE OF TRANSFORMATION.
And you can become
change agents.
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 17
Becoming Change Agents
Once you have a market-ready new product
or service concept, how do you communicate
your vision to the marketplace?
Answer: Strategic Public Relations
“If I was down to my
last dollar, I’d spend it
on public relations.”
- Bill Gates
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 18
Why Public Relations?
• PR is a valuable tool for gaining recognition for a product/service
launch
• Helps to differentiate your product/service from the competition
• News coverage serves as objective third party endorsement in
attracting new customers and strengthening existing relationships
• Cost-effective means to help build awareness and brand equity
• Marketing value: increased search engine visibility for web
presence
• Prompts action and discussion vs. traditional advertising
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 19
Understanding PR in Today’s World
• We exist in a 24/7 news cycle
• News spreads faster than ever – news breaks on Twitter
• We are living in an SEO (search engine optimization) world
• Your audience likely reads news in real time from multiple sources
• News actively shapes public opinion and prompts public action
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 20
Controlling the Message
• Remember: The media is a messenger
• Company messages and quotes drive the story
• Need to have a company/brand agenda
• What is the message?
• Prepare “quotable quotes” or sound bites
• Tell stories and showcase examples as needed
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 21
Why New Product/Service Launches Fail
• The company can’t support fast growth
• Crummy marketing execution
• The product or service falls short of claims and gets bashed publicly
• The product or service is revolutionary, but there’s no market for it
• The new product or service exists in “limbo”
Managers must learn to engage the brand team and marketing, sales, advertising, public relations,
and web professionals early on, thus gaining valuable feedback that can help steer a launch or, if
necessary, abort it.
Hearing opposing opinions can be painful—but not as painful as launching a product that’s not right
for the market or has no market at all!
Tracking customer sentiments via social media can help you refine/redefine
new products and services.
Source: Harvard Business Review, April 2011
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 22
Using PR to Launch New Products/Services
•
•
•
•
•
•
•
Understand current marketplace trends
Identify your target audience (i.e. potential customers)
Leverage multiple marketing platforms (web, social media, etc.)
Choose the appropriate spokesperson(s)
Stay consistent with product/service messaging
Pursue third party validation through the media
Communicate brand value proposition and focus on audience needs
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 23
A Case Study
Challenge
Solution
•
Capstone
Financial Group
•
was looking to
establish a
platform for its
•
brand in a
relatively short
time frame after
the firm launched. •
Development of key
communications platforms
Consistent brand messaging and
press kit materials
Development of web presence and
overall “digital footprint”
Targeted media outreach to
communicate firm’s message
312.635.1350 • 619.342.4411
ROI
 Significant media
exposure in The Wall
Street Journal, Orange
County Register and
InvestmentNews
 Strengthened advisor
recruiting efforts (grew
from 6 to 50+ advisors)
 Firm assets grew from
$50 to 500+ million in
< 1yr.
www.kcdpr.com
san diego
619.955.7759
page 24
Targeting Your Audience “PR Style”
Are your PR tactics effectively reaching your
target audience?
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 25
Tactics to Reach Your Audience
• Media Audit – Surveying/Analyzing competitors and their existing
company media coverage
• Media Training – Developing specific goals for a media interview
and sticking to core set of messages
• Media Outreach – Identifying the right targets and mediums to
reach your desired audience
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 26
Inbound marketing, including strategic
public relations, delivers 54% more leads
than traditional outbound marketing
- Webdam, November 2013
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 27
Questions?
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 28
[email protected]
chicago • san diego
www.kcdpr.com
[email protected]
san diego
312.635.1350 • 619.342.4411
619.955.7759
Contact us to learn more about our “90 Day New Product
Concept, Development, Testing, and Launch Package.”
Use code: 7112013 for a 20% webinar participant discount.
312.635.1350 • 619.342.4411
www.kcdpr.com
san diego
619.955.7759
page 29

View the presentation

Transcription

Similar documents

Product Sheet - NO-ATTITUDE GRATITUDE

Capuchinbird

Including, but not limited to, a choice of these items

4S Commons Town Center

Allen`s Swamp Monkey - San Diego Zoo Global Library

San Diego Wild Animal Park Water Master Plan

we`ve accomplished we`ve accomplished

Sudberry Properties Celebrates 30th Anniversary

2016 Coronation flyer short.psf

Layout 1 (Page 1) - Rescue Task Force