I think some of the greatest ideas come from trying to add value to people’s lives. I am sure you are no stranger to the sweet fundamentals; first determine the problem and then set out to fix it.
I came across a case study by AXA, and I was amazed at the powerful and ingenious idea they came up with to help cyclists in Poland. In case you did not know, AXA is an insurance company.
So what was the problem? Well, cyclists in Poland made up 8% of traffic accident victims. Cars and trucks have the luxury of inbuilt sensors; bicycles basically have the discretion of the rider, and sometimes that is not for the best.
AXA’s idea was to insure the safety of cyclists, and they achieved it by creating a smart bell. The bell works by sending signals to car stereos when a cyclist is approaching. The drivers hear the familiar ring of a bicycle coming from their car speakers making them aware of the cyclist.
They achieved this effect by using radio data system (RDS) technology in making the smart bell. RDS inserts snippets of digital data into FM radio broadcasts.
It’s still a bit early to know the overall impact of the smart bell, but I will tell you this, 3 days after its launch, the campaign generated more than 50,000 new business contacts. I would say that is super impressive.
Below is the video case study.
Thinking about AXA’s idea kept bringing me back to the concept of adding value to customer’s lives.
Many companies often have similar offerings, so finding a differentiating point can be difficult. Some brands try to make an emotional connection, others use price to their advantage, but another option is adding value. Value sells.
It does not matter what industry you work in, once you can show people that your product or services are designed to make their lives easier, you have a foot in the door.
I am excited to think of the possibilities of ideas like AXA’s becoming a reality in Ghana. We might not be as technologically advanced yet but so many ideas that can add value are ripe and out there, we just have to pluck them.
It goes without saying, if companies can come up with ideas to add value to customer’s live, said customers are likelier to be loyal to them.