AMSRS 2014 BrandHook & ANZ Innovation Case Study

Co-creation in the Consumers World

Michael BloomfieldHead of Market Research

Pip StocksFounding Partner

ANZ BrandHook

CO CREATING IN THE CONSUMERS WORLD

Co-creation creates brand advocates

Living in their world means insight driven innovation

An iterative methodology results in actionable solutions

BASE IDEA FIRST

ITERATION

SECOND ITERATION CONTINUOUS IMPROVEMENT

HONES IN ON THE BEST SOLUTION

Using the premise of The Wisdom of the Crowds

The Wisdom of the Crowd

Large numbers of

ordinary people

deliver better

solutions than a

small number of

experts.

Electrolux Design Lab

Orange UK

Nivea Invisible

An immersive, iterative approach

Methodology

Utilising our online community – the Grapevine – we employed a number of

ethnographic online techniques to uncover the unmet needs of the segment and then

housed them for 3 months facilitating the continuous conversationNetography

Presumers

Our leading edge, forward thinking, international Presumers were tasked with

identifying the latest trends within and outside the financial sector and help create

concepts that we would later test with the Australian consumers

Client workshops

Immersions

Consumer Q&A

Recognising that co-creation should come from all sources, three client

workshops were held at the end of each month to ensure the client voice

was heard and insights from the consumer were spread across the whole

business throughout the process

To truly live within the consumer world, we conducted a series of consumer immersions

which allowed us to go into the homes of the consumers, help bring them to life via films

and truly understand the insights identified

As part of Month 2 workshop, we invited selected consumers from

The Grapevine to meet and co-create within the client workshop so

the internal stakeholders could hear first hand from their

consumers and ask them the pertinent questions

Two overarching themes that drove the concepts

Our key tribes are maximising

every cent.

MAXIMISING

Not yet scathed by big financial

decisions, our consumers were

still optimistic about the future.

OPTIMISM

Advocates mean business

Brand Advocates spend

2 x more than average

customers on their favorite brands

20 students are charged

with promoting the brand on

campus for 12 months.

ASOS Brand Advocates

23% increase in

transactions to small business

merchants

American Express small business advocates

The ANZ participants became advocates

T R A N S F O R M A T I O N

The creation of advocates - ANZ

70% It makes me think of ANZ

differently

64% I will be checking to see whether

ANZ do deliver any of these ideas

56%If ANZ were to develop these

ideas, I would definitely consider

taking them up

9%This doesn’t change my

impression of ANZ

significantly7% These ideas don’t suit what I

know about ANZ

Building business with those advocates

WINNING CONCEPT

89% appeal across all of the Young Money

segment.

82% would switch or consider switching for

this product in the future

82% appeal across all of the Young Money

segment

88% appeal amongst ANZ customers

SECOND FAVCONCEPT

76% appeal across all of the Young Money

segment

49% of females would consider switching their bank for this

product

THIRD APPEALING

CONCEPT

The advocates in real life

Co-creation in the Consumers World

Michael BloomfieldHead of Market Research

Pip StocksFounding Partner

ANZ BrandHook