4A's Transformation 2014 - March 18 - Rosemarie Ryan, co:
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Storytelling vs. Storydoing™ Taking storytelling to the next level Rosemarie Ryan, Co-Founder & Co-CEO, co: Visit http://www.4astransformation.com for more information.
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4A's Transformation 2014 - March 18 - Rosemarie Ryan, co:
- 1. © 2013 co:collective llc STORY DOING Building your story into your business 1
- 2. © 2013 co:collective llc What’s different today? 2 Scarce Abundant Audiences Resources Time Scarce Brands Channels Specialists Abundant
- 3. © 2013 co:collective llc In just the last decade 3 Perceptions Brand quality -24% Brand loyalty -31% Brand trust -50% Differentiation -90% Brands Growth in number 4x Channels Growth in number 100x + Products 250K every year
- 4. © 2013 co:collective llc 80% of CEOs believe their products are differentiated. 8% of customers agree with them. Source:Bain&Company © 2011 co:collective llc
- 5. © 2013 co:collective llc 5 Sources:Nielsen,Young&RubicamBrandAssetValuator,WeberShandwickPlanning New game, new rules Recommendations drive performance more than communications …and recommendations are based on great product experiences 90% of people trust friends’ recommendations 75% trust anonymous reviews on the Internet 50% trust ads 70% of recommendations are driven by product experiences 2% are driven by ads 81% Blogs 81% Pinterest 73% Twitter 67% Facebook
- 6. © 2013 co:collective llc A fundamentally different approach is needed People are now the medium It’s about doing, not saying 6
- 7. © 2013 co:collective llc Old world: storytelling Marketing department engaged Engineering engaged Media purchased Digital agency engaged UI designed Product research begins Product planning begins Product named Media agency alerted Story defined Social media strategy formulated Finger pointing begins Growth opportunity identified Launch!
- 8. © 2013 co:collective llc New world: storydoing Story
- 9. © 2013 co:collective llc A company without a story is a company without a strategy. Ben Horowitz 9
- 10. © 2013 co:collective llc
- 11. © 2013 co:collective llc 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
- 12. © 2013 co:collective llc Less spent on paid media Media spent as % of annual revenue * Does not include Cisco, HP, Sony, Dillard’s Storydoing Storytelling Storytelling companies spend nearly 3x more on media as a percent of revenue than Storydoing companies Source: Company annual reports, Magnum media spend data Co:collective analysis 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 2007 2008 2009 2010 2011 1.4% 3.9% 1.1% 3.4% 1.0% 2.8% 1.2% 2.9% 1.0% 2.7%
- 13. © 2013 co:collective llc More social awareness Number of social media mentions 2008-2011 (millions) Storydoing companies are mentioned much more in social media conversations 0 5 10 15 20 25 30 35 40 45 50 2008 2009 2010 2011 0.3 2.8 0.8 9.9 1.9 27.6 2.2 44.0 Source: Radian6, Co:collective analysis Storydoing Storytelling
- 14. © 2013 co:collective llc Better financial performance Operating income growth rate (2007-2011) Storydoing companies outperform storytelling companies in topline sales… Revenue growth rate (2007-2011) * Due to negative operating income in 2007 or 2011, we had to calculate 3-yr CAGR for Sears, JCPenney, Dillard’s, Visa, and American Airlines And in finding better ways to reduce costs and optimize assets 0% 2% 4% 6% 8% 10% 12% Storytelling Storydoing Source: company annual reports, co:collective analysis 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% Storytelling Storydoing v v
- 15. © 2013 co:collective llc Higher valuations Stock price CAGR (2007-2011) Storydoing stock price growth demonstrates the value created through their actions Source: Google Finance, Co:collective analysis -6% -4% -2% 0% 2% 4% 6% 8% Storytelling Storydoing Storydoing Storytelling v
- 16. © 2013 co:collective llc 16
- 17. © 2013 co:collective llc Thanks! 17
Notes de l'éditeur
- CONSUMERS – EXPERIENCING MASSIVE AND PERVASIVE COMMODITIZATION. CEO’S -- TRYING TO PRETEND ITS NOT HAPPENING.IFA CEO OR ASPIRING CEO, DEPRESSING? MASSIVE OPPORTUNITY! BECOMING A STUDENT OF STORY/CONVEY STORY THROUGH EVERY ACTION YOU TAKE = POWERFUL (UNFAIR) COMPETITIVE ADVANTAGEDON’T THINK OF LEARNING ABOUT STORY AS A CHORE – THINK OF IT AS A PROMOTION…
- YOU HAVE TO BEGIN TO ADDRESS INTERNAL PROCESS. MOST CEOS TODAY RUN COMPANIES STRUCTURED AND PROCESSED AROUND THE MEDIUM OF TVA TYPICAL INNOVATION PROCESS LOOKS LIKE THISSTORY NOT EVEN CONSIDERED UNTIL AFTER MOST OF THE CRUCIAL PRODUCT DECISIONS HAVE BEEN MADE… CLICKSTORYDOING COMPANIES PLACE MUCH DIFFERENT EMPHASIS ON STORY – AT THE CENTER
- STORY BECOMES DRIVER OF -- PRODUCTS, SERVICES, EXPERIENCES, TO DO THIS YOU HAVE TO WORK DIFFERENTLY
- UNDERSTAND WHY -- SIDE TRIPLOADED WORD, PARTICULARLY IN BIZ…
- ENACT THEIR STORY:PRODUCTS, CUTOMER SERVICE, REWARD AND INCENTIVIZE EMPLOYEESNIMBLER, MORE EFFICIENT AND TOUGHER COMPETITORS
- ANALYSIS: 42 CO’S, 7 COMMERCIAL CATEGORIES, 5 YEARS. 5 TELLERS and 1 DOER PER CAT.
- STORYTELLING COMPANIES SPEND 3X TIMES MORE ON PAID MEDIA THAN STORYDOING COMPANIES
- STORYDOING COMPANIES GET MUCH MORE ATTENTION IN SOCIAL MEDIAAND MENTIONS ARE CONSISTENTLY MORE POSITIVE
- PRE-TAX INCOME STRONGLY FAVORS STORYDOING…And OPERATING INCOME FOLLOWS SUIT
- NOT SURPRISINGLY, STOCK PRICE GROWTH IS STRONG ALSO OVER PAST 5 YEARS.SO WHAT CAN WE LEARN FROM THESE NEW COMPANIES…LETS SAY YOU WANTED TO BEGIN TO ADDRESS THIS AND CHANGE YOUR STORYDOING COMPANY INTO ONE THAT IS A BETTER STORYDOER.NO BANDAIDS
- 01 – target02 – jetBlue03 – Zappos04 – IBM05 – Redbull06 – Nike