Published on June 10th, 2014 | by Paul Morris0
Google @ Omnicom event – innovating for growth
I attended a Google @ Omnicom event today and was glad I did (Thanks Rocket for the ticket)
Here goes with my Google @ Omnicom 2014 summary of the day:
Phillipa Brown CEO Omnicom media group
Ethos behind today = How can we grow our businesses via innovation after coming through austerity?
There is currently a staggering rate of change Google searches from 2010 = 1.3 trillion and now 2.2tn
…But innovation has fallen during the financial crisis e.g. the number of patent applications fell by 10% from 2007-2012 in the UK
3 key areas of focus:
3/ tolerate failure
Director of agency sales for Google
He talked about us eating our own dolphin. I’m not sure what he meant by this however I like the expression hence that’s mine going forward.
The pace of change will never be as slow as it is today = scary and super exciting.
% of GDP for UK is 8% in 2010 that came as a direct result of ecommerce. In 2016 this figure has been estimated to be 12%.
Has innovation failed?
Guest speaker = the one and only Josiah Amartey
I liked the observation of the 70-20-10 business rule =
70% is normally spent on BAU
20% on iterations to our work
10% spent on innovation & risky stuff
But the problem is that often budgets are thought of in that way as well and to be truly innovative perhaps they shouldn’t.
….Perhaps the time / budget then needs to flip around. E.g. 70% of budget goes to innovation.
Personally I’m not sure this is a practical business model for most however I love the challenge to think in this reverse 70-20-10 fashion.
Live innovation engine: 3 elements to start ups
I took the expression of GSD from this session.
GSD = Get Shit Done
Eze Vidra – head of Google for entrepreneurs
The power of the right minds
Silicon Valley does not have innovation contained in the water.
Ideas are not wanting in Europe but funding is a greater challenge in Europe.
Adopt a ‘Yes and’ mentality and not ‘no but’
Google Campus Google.com/entrepreneurs was interesting as a free open centre in London to aid entrepreneurs.
Have no fear of failure
Annalect and arc
Google graveyard on pinterest = interesting. Rather than this being a negative I think it just shows how much Google innovate
4 Tips to overcome fear:
1/ Talk about learnings
2/ Trust is the antidote of fear – can your team be truly open and honest with colleagues and leaders?!
3/ Get facts and act – worst place to keep an idea is In your head. Get out of thought land at this stage (as otherwise the idea is getting beaten down by others in the organisation), get facts, act on them and try the idea in beta.
4/ Ask the right questions – not did it work; but, what did we learn?
Innovation in storytelling
Great storytelling is made up of understanding, developing/adapting and crafting to:
Innovation in Products
Google and talking about networks
Google map maker = great idea of bringing people together to benefit the community
Waze integration into Google maps = great for avoiding traffic congestion.
Memories for the future = brilliant use of the here and now coupled with the past
Type ‘Google in 1998’ into Google = retro chic
Project Loon = truly amazing
Innovation in video
Google session + Marcus buttler (famous youtuber)
Far too sic, handsome, young and successful for my liking. If I see him again he is gettin a kickin.
Growth hacking: Lessons from start ups
Growth hacking = an interesting phrase I had not heard of before (basically a similar concept to gamification methodogies given a business name)