Columbia Business School | Center on Global Brand Leadership
In This Issue:
• BRITE '14 VIDEO: Retail as a Media Channel (read)
• EVENT: WOBI on Innovation (June 4-5, NYC) (read)
• Consumer Performance in Idea Generation (read)
• CMO Insights from IBM's Global C-Suite Study (read)
• Read More (read)
• For Your Amusement (read)
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BRITE '14 VIDEO: Retail as a Media Channel

BRITE '14 Retail as a Media ChannelRachel Shechtman is redefining retail. Her store, aptly named STORY, functions as a media channel. It has an editorial perspective like a magazine, varies themes like a gallery, and sells products like a store. While most successful start-ups can take three years to see profit, STORY accomplished this by the end of year one.

At the BRITE '14 conference, Shechtman explained that while digital commerce models and metrics have led retail innovation in recent years, brick-and-mortar stores have remained static. She adds "[They're] judged by their sales by square foot. I think it's time to reinvent how we look at that. . . ." Shechtman's approach to a prosperous retail store includes embracing change, generating revenue through brand sponsorship, and focusing on community and "experience per square foot." READ MORE

Watch Shechtman's talk at BRITE '14 on redefining retail as a media channel.

Click here for more BRITE '14 videos with sessions from Kate Spade New York's CMO, Warby Parker's CEO, and SapientNitro's Chief Experience Officer.

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EVENT: WOBI on Innovation (June 4-5, NYC)

WOBI on Innovation EventWe're excited to offer you an exclusive discount for WOBI on Innovation, an event we've enjoyed ourselves these last several years.

This live learning experience takes place June 4-5 in NYC.

The event gathers the world's leading innovators, change agents and disruptors to inspire inquisitive minds from around the globe.

Speakers include:

  • Joichi Ito, Director, MIT Media Lab
  • Scott Anthony, Businessweek's "Dr. Disruption"
  • Juan Enriquez, Authority on bio-science
  • Chip Conley, Head of Global Strategy, Airbnb
  • Rita McGrath, Strategy Professor, Columbia Business School (special breakfast)
and many more

Register for WOBI on Innovation for just $795 (over 65% off) with code: BRITE

For more information, click here.

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Consumer Performance in Idea Generation

Consumer Idea GenerationIt can be argued there is a science to ideation; it's not "strictly" throwing caution to the wind. Increasingly, companies are looking to consumers for innovative ideas. Columbia Business School's Olivier Toubia and Marshall School of Business' Lan Luo have designed an approach to consumer ideation that shirks the traditional one-size-fits-all model to extract "better quality ideas from consumers and. . . to inform new product and service development."

In Fostering Consumer Performance in Idea Generation, Toubia and Luo write, "As firms. . . increasingly seek out consumers' ideas in various domains, they will encounter individuals with different levels of domain-specific knowledge." With consumer segments at different ends of the knowledge spectrum come challenges in extracting insights.

The study outlines a customizable technique to mitigate such obstacles for enhanced consumer performance in idea generation. It also explores ways to apply a customized system to open online innovation platforms, a practice more and more brands are using (i.e. My Starbucks Idea). READ MORE

Download the full report to learn more about taking a strategic approach to innovation.

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CMO Insights from IBM's Global C-Suite Study

IBM CMO Insights Study 2014In Stepping Up to the Challenge: CMO Insights from the Global C-Suite Study, which focuses on leveraging customer-activation, IBM found that very few CMOs have made progress in building a robust digital marketing capability. This translates into potential missed opportunities.

The report notes, "There's a close link between the degree of digital acumen CMOs display and the financial performance of the enterprises for which they work." Despite this, only a small percentage of CMOs have integrated customer interactions across different channels, installed analytical programs to mine customer data, and created digitally enabled supply chains to respond rapidly to customer demand.

A growing number of CMOs are liaising closely with CIOs--with remarkably positive effects on the bottom line. Where the CMO and CIO work well together, the enterprise is 76% more likely to outperform in terms of revenues and profitability per IBM Institute for Business Value. READ MORE

View the complete study for more on IBM's findings and approaches to taking action.

Read More
Why CMO Leadership Is Essential To Data-Driven Marketing
(Forbes)
Developments in Online News Video Content
(Pew Research)
Risque Names Reap Rewards for Some Companies
(The New York Times)
Cadillac vs Ford: the ad battle over American values
(The Guardian)
Using Rivalry to Spur Innovation
(McKinsey)
For Your Amusement
Coke Embarrasses Customers to Increase Brand Engagement (Total Consumer)
33 Painfully True Facts About Everyday Life (Bored Panda)
These 9 Words Don't Mean What You Think They Mean (Huff Post)
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