This post originally appeared in the August 2015 issue of Hardware + Building Supply Dealer.
As much as I hate shoveling snow, I can’t possibly justify spending upwards of $500 on a snow blower that I might use five days a year and would take up space in my garage for the remaining 360.
According to a recent PwC study, 43% of consumers agree that “owning feels like a burden.” When you consider the cost, maintenance and storage requirements, buying things is kind of a pain. It’s no wonder, then, that the “sharing economy” is estimated to be $110 billion (and growing fast), according to a November 2014 Leo Burnett study. Whether it’s Netflix, Spotify, Zipcar, TaskRabbit, Uber or Rent the Runway, there’s another, arguably better, alternative to ownership for virtually every aspect of our lives.
In a world where people don’t aspire to own their own homes or even openly despise the idea of owning a car, where does that leave the tool, yard care and appliance markets? (more…)
Companies large and small are being disrupted by digitally-powered competition. As UBER runs over taxi companies, Lose It steals share points from Weight Watchers, and Amazon eats into the profits of grocery chains and other retail giants (nom nom nom).
All because the cost to compete has gone down. For everyone.
In Jame’s McQuivey’s must-read Digital Disruption, you’ll learn:
- How free and low-cost digital tools let individuals (not just companies!) build new products and services, get feedback, and iterate business models, faster.
- How access to digital platforms like Amazon, Facebook, Apple and Google let these businesses scale, cheaper.
- And how the growing number of digital consumers has changed the game for brand marketers and innovation teams.
McQuivey explores what makes disruptors different. A few selections:
- Disruptors innovate the “adjacent possible.” In other words, they look outside the current product experience (and business capability) in order to focus on what the consumer needs next.
- Disruptors think through the total product experience and put the consumer first.
- Disruptors remake their company’s culture (and way of working) to drive change.
Great for the C-Suite, marketers and corporate innovation teams. Download a couple chapters free, here:
In her new book, The Engaged Leader: A Strategy for Your Digital Transformation, Charlene Li provides leaders with skills and confidence they need to transform their leadership and their organizations.
She lays out a simple framework and road map that leaders of any level can adopt.
In one example of engagement, the CEO of a large telecom solicits input on his company’s internal social network (Yammer): “What processes and technologies should we eliminate? We will either fix it or explain why it exists.”
98 pages, $17.99.
“Customer Value = Perceived Benefits – Perceived Costs”
It’s a simple equation learned by marketers early in business school. But which side of the equation can best be influenced to motivate a sale? Which has more enduring effect on the customer experience?
Adding benefits over discounting is the better play. Here’s why:
1. Earns Stronger Goodwill
A customer feels better receiving more of something than feeling like they got something for less. While everyone likes a deal and money saved, adding things like a free attachment with a sweeper purchase is a “purchase trophy” of tangible value
2. Lengthens the Value Tail
Not only do we put a higher value on products or services that we pay for, but that value endures. Having a tangible reminder of that transaction lengthens the “value tail” and leaves a more enduring impression of the brand. (more…)
Google Express, the same-day shopping service, just rolled out in my area (Washington, D.C.), so I decided to give it a trial run.
The user experience is simple and clean. You’ll need a Google Wallet account which requires a quick registration. Delivery is free on orders over fifteen bucks if you commit to a $10 monthly or $95 yearly subscription fee.
I placed an order for toothpaste and mouthwash at 11am and WHAMMY: it arrived on my doorstep by 4:15, via Google Express-branded delivery car and pleasant delivery dude.
Retailers vary by region, and inventory can be limited for speciality items, but they’ve got most of the bases covered in DC: grocery, drug, babies, books, sports, office supplies, and one oddball: guitars.
The takeaway for CPG brands? Services like Google Express, Amazon Prime, Peapod and others are changing the way people shop in a significant way. And they’re making it easier to justify your investment in eCommerce (since Google Express is sourcing from the same retailers you already partner with).
Same-day service also challenges the conventional shopper marketer’s wisdom that eCommerce is irrelevant for so-called “mission trips” (for products that are needed right away). And once these services start to layer on alerts for profile-based offers and one-click ordering, the barriers will really start to fall away for the average consumer.
In the past, I was always reluctant to buy low-interest household items like toothpaste online. With same-day service, it’s one less stop to make on my way home from work, and probably saves me 15 minutes. Which at the end of a workday is all that matters.
Brunner’s innovation lab, BHiveLab is recognized as one of the first true agency innovation labs. At our 2013 industry creative technology conference sponsored by the 4A’s, we were asked to chair the innovation lab session which took a look at various successful innovation lab models. During the 1 hour session there was one question that was asked repeatedly of the panel – How do I get started?
This Slideshare deck contains my personal top 10 steps to starting a successful agency innovation lab.