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Evangelizing and Leading the Strategic Role of Marketing in Innovation by Stephen Liguori
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The Strategic Role of Marketing in Innovation Charlotte BMA March 19, 2014 Steve Liguori Exec. Director Global Innovation
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Marketing’s mission has dramatically changed to deliver Innovation that totally reshapes your company’s strategy. From its core products and services to how they are produced and delivered. Are you and your team prepared?
Transcript of Evangelizing and Leading the Strategic Role of Marketing in Innovation by Stephen Liguori
The Strategic Role of Marketing in Innovation
Charlotte BMAMarch 19, 2014
Steve LiguoriExec. Director Global Innovation
From Hot Dogs to Big Iron to Innovation!
Corporate Brands
Product Brands
Business “Not as Usual” Examples
Powering, Building, Moving, CuringGE Energy $40B GE Capital $45B
Home & Business $6BSolutions
Healthcare $20B
Aviation $20B
Transportation $5B
Energy Management
Oil & Gas
Power & Water
$150+B Revenue, $13B earnings
300,000 employees in 150 countries
Only current DJIA company in original index
Nimble, resilient
and innovative
130 years
The most advanced technology on earth: global R&D + 45,000 technologists expanding what’s possible
GE Innovation
“I find out what the world needs, then I proceed to invent it.”– Thomas Edison
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GE/General Mills
Outcomes Matter
technology-led innovation
market-led innovation
What is innovation at GE?
GE Innovation
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GE/General Mills
The nature of innovation is changingFrom Invention To Solutions
& Innovation
Over the last 10 years, 2% of innovation types have produced > 90% of value
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X50!
11GE/General Mills
VALUE & INNOVATION
Marketing’s Role:
12GE/General Mills
EX
IT
M
ET
RI
CS
EX
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M
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RI
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GE Simplification –”cultural imperative of this generation”
Optimize and manage the business
ACTIVATE
CROSS THE CHASM
SCALE THEBUSINESS
RUN THEBUSINESS
OPTIMIZE THE
BUSINESS
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2 3 4 5
EX
IT
M
ET
RI
CS
Innovate new products and business models
INCUBATE
GET TO MARKET
INNOVATION WORKS
EX
IT
M
ET
RI
CS
TENX
• Fewer, bigger bets
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GE/General Mills
Fast Works: the startup approach
David K
idder
Eric R
ies
GE & the Industrial InternetCapturing a leadership position for the “Other 50%” of GDP!
Run my machine better
Run my fleet better
Run my industry better
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Power of 1% - Can you talk “Outcomes” in your
space?AVIATION POWER RAIL HEALTHCARE OIL & GAS
1% fuel savings
1% fuel savings
1% productivity
improvement
1% productivity
improvement
1% reduction in
Cap X
$30B $66B $27B $63B $90B
15 YEAR SAVINGS
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Leading the Industrail Internet!
GE PROPRIETARY & CONFIDENTIAL
BrilliantMachines1 Advanced
Analytics2 People at
Work3
17GE/General Mills
Opening up & collaborating
3 Months$40,000
697 New product designs
$10MM Fuel savings potential
40 Data sets3,045 Algorithms164 Countries0 Aviation experience
$26MM Fuel & cost savings potential
134 New Product Designs139 Countries
4 Quests
5,757 Solutions
55 FTE Equivalent
2013 Quests
Open Innovation drives value
Cooking Up a Business
Local Motors Made the World’s 1st Open-Source Car.
It’s Now Bringing Co-creation to GE
The co-creative process is all about building connected machines. That’s where the big change happens.
What disruptions are YOU leading ?
22 GE Title or job number
04/10/2023
1. Know Who You Are1. Know Who You Are
Strengths?Strengths?
2. Know Where You Are
Find the balance.
“Culture eats strategy for lunch”
Internal EnvironmentInternal Environment
External Focus
External Focus
3. The 70-20-10 Rule
“In addition to appointing an Innovation Officer at Google, employees are now asked to divide their time in 3 parts: 70% core business, 20% pursuits related to the core, and 10% far out ideas.”
70% Core
20% Core-related innovation
10% Far out ideas
Best Practice:
On my wall…
What’s on yours ??
