In a first for WPP worldwide, WPP AUNZ has launched an innovative new offering aimed at fostering growth in the Australian market – through new product development (NPD).
Called Big, the new company will create new categories, new markets and new revenue for clients, using data to define the opportunity, an understanding of people to create desire then using all that intelligence to build a real product or service.
Founder and Chief Creative Officer of big, Giles Day, said, “Many Australian businesses and organisations have exhausted cost-cutting measures. And while it’s important to always review the cost of operations, it’s also important that organisations also look at other revenue streams to drive top-line growth. That’s where big can come in – with NPD.”
Big will operate under an entirely new business model which will see it partner with businesses in return for a royalty, success fee or flat percentage after milestones are met.
Day said Big’s team comes “from the worlds of engineering, design and technology” and includes Clara Klaassen, Head of Industrial Design, backed by WPP AUNZ Chief Strategy Officer Rose Herceg who will provide the strategic backbone to the business.
The team has previously worked together to develop innovative new product categories including MilkLab – a product developed in collaboration with Freedom Foods to create new revenue from new consumers for a commodity product; UHT milk. Day said the team used data to establish a white space for “barista milk”, a category that didn’t exist before.
Once the opportunity was identified, the team worked with baristas to co-create the product now known as MilkLab, a useful product with cultural capital that generates well over $50 million of new revenue per year.
WPP AUNZ CEO Jens Monsees said, “Big is an excellent example of where our company is heading; using our vast data and tech talent teamed with our creative depth to innovate and develop new business models. It’s also about putting the client at the centre of what we do. By collaborating with clients through NPD, we are providing a true partnership that meets their changing needs in a fast-changing market.”