One of Australia’s largest media organisations with a reach of over 12 million customers is facing disruption with the rise of free, digital content has eroded newspaper subscriptions as well as advertising revenues.
2nd Road was engaged to help them develop new value propositions and business models with revenue streams outside of traditional advertising. 2nd Road guided three of their business units through our innovation process. Firstly, we clarified strategic intent with the organisational leadership to ensure we shared a coherent vision. We then facilitated internal staff in meeting customers and gaining unique insights through ethnographic research methods.
2nd Road then ran design sprints with various stakeholders and customers, resulting in hundreds of new product ideas. We synthesised these ideas into product concepts which considered real business models. For one vertical, our work led to the launch of a product within three months and for another, an innovation portfolio was developed with a value of approximately $240m.