There are two ways to innovate. One is to create or discover something which is substantially new. The other is to find something which everyone believes which isn't true anymore. To succeed, you don't necessarily need to be right. You simply have to be less wrong than your competitors. In this quest, behavioural science does double duty. It not only helps to tell us what consumers really care about. It also tells us about the biases which drive business decision-making. Often the best source of distinctiveness and comparative advantage lies in understanding the kind of decisions your competitors can't make.

1. What’s Next:
Innovating in an
innovation world
Powered by

2. Welcome
Laurie Close
Consultant
Ogilvy Consulting
Rory Sutherland
Ogilvy

3. Tell us
where you
are dialing
in from!
What’s the weather
like in your city?

4. Do you
want this
deck?
It will be available for download
shortly after the webinar on:
slideshare.net/socialogilvy
And the recording up on
facebook.com/OgilvyConsulting

5. Less wrong than
your competitors.

6. 6

7. 7

8. 8
The doorman illusion
An automatic door does not replace a doorman

9. TWO MODELS OF ADVERTISING.

12. 12

13. 13
Link

15. The science of
knowing what
shallow logic is
wrong about.

16. 16
Maps & models
Over time, and with overuse,
the failings of models may
become more important than
their strengths.

17. 17

18. 18

19. 19
Maps & models
Over time, and with overuse,
the failings of models may
become more important than
their strengths.

20. 2
0

21. 2
1

22. 2
2

23. The science of
knowing what
economists are
wrong about.

24. lies in taking the human
perspective, not the
spreadsheet perspective.
The value of the
Marketing Mindset

26. 2
6

29. £60 billion,10 years
Or £2,500,000 and six months.

30. 30
Why....
….were rising house prices always
A "good news" story?

31. © From the blog of Lars P Syll

32. Even maths is
contextual.
£100
Heads, win 50%
Tails, lose 40%
£100
Heads, win 50%
Tails, lose 40%
£100
Heads, win 50%
Tails, lose 40%
£100
Heads, win 50%
Tails, lose 40%
From the work of Ole Peters & Alex
Adamiou, London Mathematical Laboratory

33. One bet, four people
£150
H
£60
T
£150
H
£60
T
Starting with £100 each, rises to £420

34. Two bets, four people
£225
HH
£90
HT
£90
TH
£36
TT
Starting with £100 each, rises to £441

36. 1 × 7 ≠ 7 × 1
2x2x2x2x2x2 > 3x1x3x1x1x3

49. “There is no sensible distinction
to be made in a restaurant
between the value created by the
man who cooks the food and the
value created by the man who
sweeps the floor.”
Nationalökonomie: Theorie des Handelns und Wirtschaftens – Ludwig von Mises
“There is no sensible distinction
to be made in a restaurant
between the value created by the
man who cooks the food and the
value created by the man who
sweeps the floor.”
Nationalökonomie: Theorie des Handelns und Wirtschaftens – Ludwig von Mises

50. If you have a creative suggestion, you
have to present it to rational
people for approval.
Note, this rule never applies
the other way round.

51. Thank you:
@rorysutherland
@ogilvyconsulting

52. Questions?

53. Thank you.