Exploring high potential innovation areas for UK packaging leader

The Challenge

DS Smith had a range of exciting new business model innovation opportunities. They needed to rapidly explore customer needs, test commercial potential and identify feasibility before they invested further.

Cognosis were brought by the Innovation & Partnerships team to rapidly and rigorously develop and test these opportunities, to enable the right innovation investment decisions.  

Our Approach

Our ability to quickly understand the client’s industry, integrating the know-how of their operations teams with insight from industry experts and market trail blazers, allowed us to develop robust value propositions for each concept.

We applied our tried-and-tested process designed to mitigate the typical pitfalls that organisations face when developing new propositions:

1. Identified Business Model Opportunities

To understand the potential for each opportunity area, we established the size of prize, using vairous models and parameters such as TAM (Total Addressable Market) over time. We helped DS Smith identify key areas in the value chain where opportunities to unlock value exist. This resulted in 3-4 business model opportunities for further exploration, guided by a directional growth potential.

2. Target Customer & Needs Mapping

Taking each opportunity area, we aligned this with the customers’ pains and needs. Target customers and consumers were identified, and their motivations segmented into key proposition areas. We ensured that at each development stage of the business model opportunities, specific needs were met by a relevant service offering. These addressed the increasing complexity of the customer and consumer needs as the scale of operations grew and demands became more intricate. 

3. Business Model Exploration

By assessing the customer and consumer needs and the capabilities needed to cover them, we established the proposition areas and business models required to capture these opportunities. We identified the best suited business models, supported by strategic implications and insight gaps. To evaluate each business model, we used a DVF (desirability, viability, feasibility) framework to determine whether to pursue each opportunity area, diving deeper into those that met our established critical criteria.

4. Expert Validation & Testing

To gain better insight into the defined business models, we developed specific business model canvases as defined blueprints to achieve the growth opportunity. Our final recommendation on the business models and suggested next steps were guided by this further level of detail.

The Impact

DS Smith were equipped with a recommendation on a go-/no-go decision on whether to pursue certain innovations. This insight gave them confidence to invest in a new business model innovation with huge market potential. 

Our clear process broke down the decision making and our DVF approach ensured the critical criteria were being met. This enabled DS Smith to progress their innovations to minimum viable products backed by board approval and established plans to unlock future growth within their industry.