Consumers today take for granted that new technology will be beautiful and easy to use. But they increasingly scrutinize whether new technology matters to them – they question how it will bring value to their lives. In a time when technology is increasingly the lens through which we experience the world, our clients’ biggest concerns are not about better fit, but about value: What new technologies will be meaningful to people? Why do tablets matter? Will wearables have any lasting impact? Are people becoming bored of smartphones? What is the social value of the Internet of Things?
The Media and Entertainment industry has been in a state of permanent digital-induced crisis since the late 1990s. Until relatively recently, media companies were driven by platforms—when a newspaper owned their printing press, for example, they owned the revenue along the entire value chain. Today, all of that has and is changing. The platforms—whether broadcast network, magazine, newspaper or social networking—matter far less than the passions and interests of the people engaging with the content on them.
As globalism opens up markets it produces bigger and more nimble competitors, which forces companies to rethink their strategies and to innovate more aggressively. Creating new markets or pursuing not just B2B but also consumers are issues for companies who want a foothold in global markets and who want to get in emerging markets early with sustainable technologies.
Most forward-thinking companies in the consumer goods industry strive to be customer-centric--and with good reason. In an industry where product and brand differentiation is slim and competition fierce, the depth of consumer understanding is what allows companies to genuinely stand out in the marketplace. For more than a decade, ReD Associates has helped executives adapt and develop new offerings in tune with tomorrow’s consumer—in both existing and emerging markets.
Today’s health care industry is on the precipice of tremendous change. The typical business model has come under pressure as ever-expanding costs are resulting in decreasing profits for established players. At the same time, the entrance of new players from other industries is radically redefining the relationship users have with their health care providers. Despite these challenges, the industry continues to focus on incremental innovation--rarely straying far from the status quo--rather than seeking out bolder innovations that create a meaningful difference in users' lives.
ReD helps financial institutions align with the reality of their customers’ needs and lives; developing engagements that create trust, peace of mind, and financial wellbeing for people. In each of our financial services projects we have uncovered a fundamental gap between what the industry considers valuable for customers and what customers actually value. By understanding why customers do what they do and what they struggle with, we enable banks, insurance companies and pension providers to create offerings that excite their customers and keep their business one step ahead of the competition. Never has this been more important in an industry where profits are being squeezed, the competitive landscape is changing, and the engagement model is undergoing fundamental changes.
During the past century, governments and charitable organizations have mounted massive efforts to address social problems such as poverty, lack of education, and disease. But while governments around the world are straining to fund their commitments to solve these problems, many organizations are simply limited by old ways of doing things. Today, this situation is changing. Social impact investing and entrepreneurship models have injected new energy and thinking into this space by offering innovative approaches that move beyond the current models.