Creating new revenue streams
A common problem
Sensis faced the same challenge that confronts a growing number of businesses today – how to find new revenue streams in the face of declining revenues from traditional services?
They wanted to do more than just extend their directory business into the digital world – because, while that’s a logical thing to do – it doesn’t move out of the box into really new territory. They wanted to generate a wider set of strategic options to move the business forward.
A unique apporach
They knew this required a different approach, so they turned to 2nd Road for help. Over a period of four months we worked with a small Sensis team and invented a portfolio of options for new businesses. They all fed off the core capabilities of the business but branched out into new territory. All of the options offered sizeable potential revenues and were platforms rather than single lines of product so a total business could be generated around each one. Each platform was built to address a defined customer experience and was centred around a compelling value proposition. Importantly, customers were involved in the co-design.
Rapid structured creativity
How did we manage to generate such a range of big new feasible ideas in such a short time? Because creativity has a structure to it – despite its mystery. We understand that structure in 2R and we build tools and environments to make it happen. At the heart of this cognitive structure lies a paradigm shift; that creativity is NOT a sequential process but more like a furnace or an oven. We create the ingredients and get the settings right – and then intuition takes over and magic happens.