2. Wearable
Fitness
Devices
! $
330
M
USD
sales
in
2013
! Fitbit
(68%),
Jawbone
(19%)
&
Nike
(10%)
account
for
97%
market
share
! Plethora
of
startups
make
up
the
remaining
3%
! Market
to
double
its
size
in
2014
! Strategic
market
for
“internet
of
things”
applied
to
health
&
fitness
29. Amiigo
16
months
later
! First
deliveries
for
backers
started
last
May
acer
an
8
month
delay,
two
missed
deadlines
and
a
crashed
holiday
season
! At
current
pace
of
manufacturing,
deliveries
will
catch
up
with
backers
backlog
by
end
of
summer
! Ini8al
backers
and
beta
testers
experience
underwhelming
vs.
promise
30. Amiigo
How
would
a
tradi8onal
company
have
fared?
It
would
have
gone
under
31. Amiigo
How
is
Amiigo
faring?
! Got
strategic
investment
and
manufacturing
/logis8cs
capabili8es
from
FLEXTRONICS
! Has
substan8al
wai8ng
list
orders
backlog
! Is
constantly
making
their
socware
app
bejer
and
bejer
! No
“tradi8onal
marke8ng”
expenses
! Can
compete
in
a
biz
arena
with
Giants
32. Amiigo
Why?
Community-‐based
strategy
and
innova8on
37. Amiigo
! Backers
not
Customers
! Co-‐crea8on
and
ownership
! Ac8ve
par8cipa8on,
feedback
and
dialogue
! Wisdom
of
the
Crowd
! Community
! Promise:
“build
–
together
–
the
most
personalized
wearable
technology
available
enabling
users
to
track
their
favorite
ac8vity”
42. Lessons
for
Community
based
innova8on
&
strategy
! Conceive
a
product
that
is
poten8ally
disrup8ve
! Engage
our
audience
by
storytelling
your
value
proposi8on
! Make
your
audience
an
integral
part
of
your
product/
concept.
! Use
their
wisdom/$/energy/know-‐how
to
bring
your
concept
to
first
stage
frui8on.
! Be
upfront
and
proac8ve
in
a
two-‐way
open
conversa8on
! Mone8ze
o
your
base
(followers)
with
third
par8es
(investors)
43. Lessons
for
Community
based
innova8on
&
strategy
! We
are
living
through
the
second
industrial
revolu8on.
The
informa8on
revolu8on.
! Fragmenta8on
of
our
society.
Create
context
through
social
media.
Time
&
Ajen8on
are
commodi8es.
! Word
of
mouth
at
scale.
Produce
content
that
is
shareable.
! Every
company
is
a
media
company.
You
are
a
media
company.
! Blockbuster
didn't’t
buy
Neolix
for
40M
10
years
ago
“based
on
data”.