The Challenge

DS Smith had numerous promising opportunities for business model innovation. They needed to swiftly explore customer needs, assess commercial potential, and determine feasibility before making further investments.

Cognosis was engaged by the Innovation & Partnerships team to rigorously and quickly develop and test these opportunities, enabling informed innovation investment decisions.

Our Approach

Our ability to rapidly grasp the client’s industry—by integrating insights from their operations teams with expertise from industry leaders and market pioneers—enabled us to establish strong value propositions for each concept.

We utilized our proven process designed to navigate the common challenges organizations face when developing new propositions:

1. Identifying Business Model Opportunities
   To gauge the potential of each opportunity area, we calculated the size of the prize using various models and metrics, such as Total Addressable Market (TAM) over time. We assisted DS Smith in pinpointing key areas within the value chain that offered chances to unlock value, resulting in 3-4 business model opportunities for further investigation, guided by projected growth potential.

2. Mapping Target Customers and Needs
   For each opportunity area, we aligned insights with customer pain points and needs. We identified target customers and segmented their motivations into key proposition areas. At every stage of the business model development, we ensured that specific needs were met by relevant service offerings, addressing the complexities of customer requirements as operations expanded and demands intensified.

3. Exploring Business Models
   By evaluating customer needs and the capabilities required to meet them, we established the necessary proposition areas and business models to seize these opportunities. We identified the most suitable business models and assessed their strategic implications and insight gaps. Utilizing a desirability, viability, and feasibility (DVF) framework, we evaluated each business model to determine whether to pursue each opportunity, delving deeper into those that met our critical criteria.

4. Expert Validation and Testing
   To enhance understanding of the defined business models, we created specific business model canvases as structured blueprints for achieving growth opportunities. Our final recommendations on business models and proposed next steps were informed by this detailed analysis.

“We chose Cognosis over larger consultancies for their straightforward approach to value proposition and product development, along with their objective perspective.”
Director, DS Smith

The Impact

DS Smith received a recommendation for a go/no-go decision regarding specific innovations. This insight instilled confidence in their investment in a new business model with significant market potential.

Our structured process clarified decision-making, and our DVF approach ensured that critical criteria were met. This empowered DS Smith to advance their innovations to minimum viable products, secured board approval, and established plans to unlock future growth within their industry.