Why Traditional Market Research Fails innovation

Traditional market research techniques focus on data and metrics; on logical analysis. These provide only a fraction of the available knowledge and insight necessary for effective innovation for several reasons: Data mining is effective for uncovering insights into your current customers’ current buying habits. It tells you nothing about people who never were customers or who eventually might be. Human…

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Autonomous Vehicles May Be the Most Disruptive Innovation in History

Within the next two decades Autonomous Vehicles (AVs) are set to topple industry giants, disrupt or decimate the 20 primary industries listed below, and potentially disrupt virtually every industry on the planet. None are immune. The trickle-down effect will likely transform nearly every sector of our lives. As autonomous vehicles significantly reduce the frequency and intensity of car crashes, likely…

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To Create New, Breakthrough Innovation Stop Focusing on Products

People don’t buy stuff. They buy what stuff does for them—producing their desired results or at least helping them make progress towards their desired results.   For example, why does someone buy a light bulb? Because they want to own a light bulb. Because they want light. Because they desire a particular environment and, in their particular circumstance, light is…

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Nobody Wants to Buy Your Products or Services. Here’s Why!

Just as organizations have jobs for which they hire and fire employees, customers have jobs for which they hire and fire tools or solutions. Customers don’t buy products or services. They hire tools or solutions to get a job done. Customers often must hire different solutions to accomplish discreet tasks in getting an entire job done. And they must go…

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ROI2 – Return on Innovation Investment – Is Just as Important as That Other ROI

Lord Kelvin said, “When you can measure what you are speaking about, and express it in numbers, you know something about it”[i] If that’s true, what measures can we use with innovation, to know more about it? Standard metrics don’t seem to apply. With many ideas you have to review, filter and select ideas based solely on judgment. For true…

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To be Successful, Participate in the Outcome Economy

No matter what business you think you’re in, you’re in the tool business. Your customers are not buying a set of features. They’re hiring the tools needed to complete one or more tasks that produce their desired outcome. Customers hire products and services to get a job done.[i] The real key to innovation success is to be outcome focused. Be clear on…

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