New Levels of Innovation: Storydoing for Authenticity, Connection and Lasting Business Value

New levels of innovation:
Storydoing for authenticity,
connection and lasting
business value
© 2014 co:collective llc

Storytelling
Pepsi
McDonalds
United Airlines
Clorox
Reebok
Lenovo
Chevrolet
Storydoing
TM
Red Bull
Chipotle
JetBlue
Method
Toms Shoes
Apple
Tesla
© 2014 co:collective llc 2

Storytelling
Sears JC Penney Dillard’s Saks
Macy’s
Time Warner News Corporation Viacom Comcast CBS
Dunkin Brand Groups Wendy’s Company Burger King PaneraCosi
JP Morgan & Chase Mastercard Discover Fidelity Visa
Panasonic Samsung Toshiba Sony Dell
American Airlines United Continental US Airways Skywest Delta
Hewlett-Packard Cisco Oracle SAP CSC
Storydoing
Target
Walt Disney
Starbucks
American Express
Apple
Jet Blue
IBM
3
TM

Storydoers spend far less money on paid media
5%
4%
3%
2%
1%
4
Media spend as % of annual revenue (2007-2013)
3.9%
3.5%
2.9% 2.9%
2.7%
2.4%
2.6%
1.4%
1.1% 1.0% 1.2% 1.0%
0.7%
0.7%
0%
2007 2008 2009 2010 2011 2012 2013
Source: Co Collective analysis based on publicly available data
Storytelling
companies
Storydoing
companies
% of
revenue
TM

More social awareness
35
30
25
20
15
10
5
5
Sentiment of social media
mentions 2008-2013
69%
1%
30%
Positive
Negative
Mixed
58%
40%
2%
Positive
Negative
Mixed
Source: Co Collective analysis based on Radian 6 data
Storytelling
companies
Storydoing
companies
0
1 2
Storytelling
companies
Storydoing
companies
M
mentions
Volume of social media
Mentions 2013
TM TM

Better financial performance
Annualized revenue growth rate
12%
10%
8%
6%
4%
2%
6
(2007-2013)
9.6%
4.2%
0%
Storydoing
companies
4.2%
CAGR%
9.6%
Storytelling
companies
12.8%
-12.2%
15%
10%
5%
0%
-5%
-10%
-15%
Annualized operating income
growth rate (2007-2013)
CAGR%
Storydoing
companies
-12.2%
Storytelling
companies
12.8%
TM TM

Higher valuations
7
3.7%
14%
12%
10%
8%
6%
4%
2%
0%
Annualized share price growth (2007-2013)
Source: Co Collective analysis based on publicly available data
Storydoing
companies
Storytelling
companies
CAGR%
3.7%
12.0%
TM

What if?
17

co:
18

StorydoingTM

#1
Put story at
the center

#2
Be on a Quest

#3
Have an enemy

#4
Create shared
understanding
and adoption
across the org
27

#5
Focus on a few
iconic innovations
2299

Iconic innovations are:
Innovations flowing from a brand’s Quest
that help to (re)define it to the world.
They must inspire word of mouth,
press coverage and help to make the
brand famous. They turbocharge or even
replace paid media by generating their
own. They turn audiences into advocates.
30

They can take on many forms
Business models
Events
Experiences Culture

#6
Fuel external
participation
3322

The impact
Better
decisions
Start,
stop,
continue
Greater
focus
Fewer,
better
things
Faster
growth
Clear story,
effective
actions
34

Workshop

We use four lenses
to define a Quest:
the driving
ambition and
contribution
to the world
36
QuestMetastory
Protagonist
Our story and needs today
Unique capabilities
Unique attributes
Unique culture
Stage
The world we are doing
business in
Cultural context
Technology context
Competitive context
Business context
Customers
Associates
Partners
Who we are for
Participants
Behavior
Emotion
Industry
Belief
Our enemy
Antagonist
Story

Then we ideate
and design the
iconic innovations
to realize a Quest
across all areas
of the business Quest
Offer
Products, services,
software and apps,
physical environments
Identity
Corporate identity,
communications,
PR and social
Teams, tools, technology,
org structure, process
Capabilities
Beliefs, behaviors
and rewards
Culture
External
Internal
Hard Soft
Doing
37

Metastory
Protagonist
Pioneers of performance –
always on the offense.
When it comes to finding the best solutions for athletes –
there is no finish line. Nike started with two visionary men
who pioneered a revolution in athletic footwear
that redefined the industry. Over the years, Nike
introduced breakthrough performance technologies
like Nike Air and Flyknit (products) and Nike+
and Fuelband (platforms). Today, Nike
continues to seek new and innovative
ways to develop superior athletic
products, and creative methods
to communicate directly
with consumers.
Stage
Human achievement
is a team sport.
Technology and social media are creating new
ways for people to engage with each other and
with the world. They’re coming together across
platforms, categories and countries to change
each other and the world. As a result,
the empowered masses can have as
much impact as the powerful few.
The legendary Nike co-founder, Bill Bowerman
said, “If you have a body, you are an athlete.”
Whether you’re just getting started or starting in
the NBA, there’s an athlete in everyone, ready to
push themselves to the next level.
Aspiring athletes.
Participants
Having the capacity to become
something great, but lacking the ability
or the opportunity to achieve it.
Unrealized potential.
Antagonist
Bring inspiration
and innovation to every
athlete in the world
39

Offer Identity
Bring inspiration
and innovation
to every athlete
in the world
Capabilities Culture

The age of the upgrade.
A world where our appetite for innovation has
become much larger and moves much faster. As a
result, what might have been exciting even a
couple of years ago has started to become rote,
common. What the average consumer can
imagine exceeds the ability of a mere phone-maker
or computer company or auto-maker to
provide. That's why the most exciting new
innovations have started to look a lot more
Accelerate the electric
economy of the future
Metastory
Protagonist
World-changing engineers
who have turned their
attention to cars.
Tesla was founded by a group of Silicon Valley
engineers who set out to prove that electric
vehicles could be awesome, believing that
every EV using their technology is a step
towards making increasingly affordable
electric cars available to the masses.
Stage
like world-altering initiatives, major
political policies and massive
infrastructure upheavals.
People who want to see big change in business
and in the world, today.
Impatient visionaries.
Participants
The people, products and companies that
perpetuate the models and problems of the past
and prevent us from creating a more sustainable
transportation system, economy, future.
The mine-and-burn
hydrocarbon economy.
Antagonist

Offer Identity
Accelerate
the electric
economy of
the future

Story
44
Exercise 1

Use the four lenses
to define your Quest:
your driving
ambition and
contribution
to the world
45
Protagonist Stage
Metastory
Participants Antagonist
Exercise 1: Story

Doing
46
Exercise 2

Exercise 2: Doing
Offer Identity
External
Internal
Hard Soft
47
Come up with
iconic innovations
that bring your
Quest to life.

Recap

Storydoing scorecard
Story Doing
01
Do you have
a story?
02
Does the
story define
an ambition
beyond
commercial
aspiration?
03
Does the
story define
a clear
enemy?
04
Is the story
being used
to drive action
throughout
the company?
05
Have you
defined a
few iconic
innovations
to focus on?
06
Are people
outside the
company
engaging
with and
participating
in the story?
49

Thanks!

New Levels of Innovation: Storydoing for Authenticity, Connection and Lasting Business Value

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