By now, if you’re in marketing you’re probably familiar with the concept of customer lifetime value. Put simply, it’s the idea that a customer is worth to the organization not just the value of a single transaction, but the collection of all of the transactions that they might make during their relationship with you. And when speaking of customer lifetime value, we generally don’t talk about any single customer, but speak about their value in aggregate, averaging out the high value (many, many purchases) and low value customers (one or a few purchases).
The concept is usually linked to discussions of how much you can afford to spend to acquire a customer and whether a particular advertising or marketing effort is worth undertaking.The concept has been even applied to non-profits (lifetime donor value) and even to social media ROI.
But what’s a good outside innovation partner worth?
As I was speaking with several of the innovation leaders at Intuit on their campus in Mountain View last year, it came to me that organizations should be seeking to build and strengthen relationships with their customers, suppliers, and other potential innovation partners in ways similar to their approach to traditional relationship marketing.
Having helped several clients with their relationship marketing strategies, it seems to me that there is no reason why the same principles can’t or shouldn’t be applied to your potential innovation partner community.
After all, as more and more companies begin to understand and engage in the practice of open innovation, then there will be an advantage accumulated by the organizations that do a good job of building strong and profitable relationships with the most passionate and prolific suppliers, customers, academics, etc. over those organizations that don’t.
What organization out there wouldn’t want to accumulate an innovation advantage, a growth advantage, a relationship advantage over their competitors?
But the real questions are of course:
Do you have the required internal innovation capability built already to support open innovation?
Are you engaging in open innovation already? Or are your competitors?
What are you doing to build strong relationships with you potential innovation partners?
Are you tasking skilled relationship marketers with creating and maintaining these conversations and building these relationships?
So, do you? Are you?
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I’ve been talking for a while now as an innovation speaker how crucial value is to innovation. It is no consequence as a result that value sits at the center of my definition of innovation:
Innovation transforms the useful seeds of invention into solutions valued above every existing alternative – and widely adopted.
In this definition you will also see that I draw a distinction between useful and valuable, and I develop it further in my book Stoking Your Innovation Bonfire – the following is an excerpt on the topic from the book:
“Often usefulness comes from what a product or service does for you, and value comes from how it does it. If you’re looking to truly deliver innovative products and services into the marketplace, then once you succeed at the designing and developing the ‘what’, don’t forget to also focus on achieving excellence in the ‘how’.”
One of my favorite example of the useful versus valuable distinction is the mousetrap. Despite the hundreds or thousands of patent applications submitted every year for new mousetrap designs, most people still purchase the same simple snapping mousetrap that you see in cartoons and that has been around for a hundred years. The mousetrap is a great example of how easy it is to generate innovation investment opportunities and how difficult it is to create something that is truly valuable.
This distinction between useful and valuable is one that you must seek to understand and by turning this into a lens through which you can look at the potential of your innovation investment opportunities, the higher the return you will have from your innovation portfolio.
Speaking of which, maybe we should stop talking about idea generation, idea management and idea evaluation and instead begin thinking about ideas as innovation investment opportunities. Just changing the language we use in talking about innovation can change the way we think about things and the outcomes that we are able to generate. The images we choose and the language we use is incredibly important and we’ll discuss this in more detail here in a moment. But first I would like to share my innovation equation to counter the popular (innovation = idea + execution) equation. I like to say that:
Innovation = Value Creation (x) Value Access (x) Value Translation
Now you will notice that the components are multiplicative not additive. Do one or two well and one poorly and it doesn’t necessarily add up to a positive result. Doing one poorly and two well can still doom your innovation investment to failure. Let’s look at the three equation components in brief:
Value Creation is pretty self-explanatory. Your innovation investment must create incremental or completely new value large enough to overcome the switching costs of moving to your new solution from the old solution (including the ‘Do Nothing Solution’). New value can be created by making something more efficient, more effective, possible that wasn’t possible before, or create new psychological or emotional benefits.
Value Access could also be thought of as friction reduction. How easy do you make it for customers and consumers to access the value you’ve created. How well has the product or service been designed to allow people to access the value easily? How easy is it for the solution to be created? How easy is it for people to do business with you?
Value Translation is all about helping people understand the value you’ve created and how it fits into their lives. Value translation is also about understanding where on a continuum between the need for explanation and education that your solution falls. Incremental innovations can usually just be explained to people because they anchor to something they already understand, but radical or disruptive innovations inevitably require some level of education (often far in advance of the launch).
Done really well, value translation also helps to communicate how easy it will be for customers and consumers to exchange their old solution for the new solution. My favorite example of poor value translation and brilliant value translation come from the same company and the same product launch – The Apple iPad. It’s hard to believe, but Apple actually announced the iPad with the following statement:
“Our most advanced technology in a magical and revolutionary device at an unbelievable price.”
This set off a firestorm of criticism and put the launch at risk of failure. But amazingly Apple managed to come up with the Out of Home (OOH) advertisements with a person with their feet up on a couch and the iPad on their lap (see above) by the time the product shipping. If a picture is worth a thousand words, this particular picture will probably end up being worth billions of dollars to Apple.
Never Forget!
Value creation is important, but you can’t succeed without equal attention being paid to both value access and value translation…
Because innovation is all about value…
Value Creation (x) Value Access (x) Value Translation = Success!
Picking up where my hugely popular article ‘Rise of the Social Business Architect‘ (PDF) leaves off, I thought I would examine the world of web design in a world where the tools of social media are becoming increasingly important and integrated into how business gets done (and even how searching and search results are done).
When it comes to putting up a web site, most entrepreneurs and marketers unfortunately look at it from their perspective (what do I want to say?) instead of from their potential customers’ perspective (what do they want or need to know?). This causes most entrepreneurs and marketers to start building web sites for their new product or service in the same basic way (a push marketing approach).
First, they go out and hire a web designer to build them a web site, only to have the web designer ask them three main questions:
1. What kind of visual design are you looking for? (…and what are your favorite web sites and why?)
2. Do you need the web site to run on any particular technology platform?
3. What kinds of content do you have? (…and what is your menu structure going to be?)
The third question often provokes a deer in the headlights kind of response – “Oh shoot, we have to write something” – and then after the entrepreneur or marketer recovers from the shock they think about what they want to say.
The entrepreneur or marketer hastily runs off and sketches out a set of pages that they want to have (or they use another site as a template) and then they write (or hire someone to write) copy for each page, and when the copy is written and the design is complete they have someone build the web site using the design and content as a guide.
The end result is a web site that stands alone as a new domain in the digital wilderness, disconnected from the rest of the digital world. This may be great for putting on business cards and email signatures, but the chances are low of someone finding the new web site and actually caring about the product or service.
Frustrated that nobody is coming to the new web site, maybe the marketer or entrepreneur creates a Facebook page or a Twitter account, but then those likely sit there – lacking a clear purpose or a point of conversation.
Still trying to provoke activity on their web site, maybe the marketer/entrepreneur starts to create deeper level content that their potential customers might actually care about, with the potential of moving them along the customer purchasing journey, and put it on the site. When few people find the new content that the marketer/entrepreneur created at great time and/or expense, maybe they buy some pay-per-click advertising (PPC) to drive people to it, wondering when the financial bleeding will stop.
Finally, maybe they place the content off-site in places where potential customers actually gather and might find it (and find the new web site as a result).
What would happen if you flipped the traditional push marketing web design paradigm around and used a pull marketing approach instead?
I would contend that is exactly what you should do if you want to build a social business, and to prove it, over the next couple of months I will flip the traditional web site design model on its and head and use an upside down social web design model for my new domain in the wilderness – http://b2bpull.com – which will be the home of a new digital agency focused on b2b pull marketing strategy and execution services.
So what does an upside down social web design approach look like?
Well, the first key is to keep the customer at the center of your plans, not the product or service you plan to offer. My current web site – https://bradenkelley.com – is all about me – my thinking, my services, my creations, etc. I am the product, and I sit at the center. The web site in this evolving case study – http://b2bpull.com – will be built with b2b marketing managers at the center, and now I’ll lay out what the steps in a pull marketing approach to social web site design should be.
Blackjack!
Here are the 21 steps to building an Upside Down Social Web Design:
While you are exploring what product or service to offer to potential customers, also explore how they shop for the kind of product or service you are going to offer. Seek to understand where their areas of confusion are, and what kinds of information they seek out to help them make the decisions about which companies to consider and which products or services they are interested in learning more about.
Create a simple landing page that tells people what is coming soon, and that contains a simple form asking people what they’d like to know more about. If you go to http://b2bpull.com now you will find not a web site, but a landing page asking people what they’d like to know about b2b pull marketing. So, please let me know what you’d like to know about using content to drive an increase in inbound sales leads, and I’ll work to build answers to share with the world.
Create a simple logo (you can change this later) that is a square image (this is for use as a profile photo in any profiles you create – i.e. Twitter/Facebook)
If your prospective customers are on Twitter, then create an account on Twitter – if they are not, then skip this step. At a minimum, populate your profile with a description of your product or service, a profile image, the URL of your landing page, and a background image to make your profile more visually engaging and distinctive. Send a tweet or two letting people know what you’re planning to do and inquiring what people would like to know more about (as it relates to your specialty area). Do research to find out who else tweets interesting things about your specialty and start following them. Retweet one or two interesting things that they share (every day) – be sure and use appropriate #hashtags in your re-tweets to help people find them.
If your prospective customers are on Facebook, then create a Facebook page and at a minimum populate it with a profile photo, a cover image, and an about us. If your prospective customers do not spend time on Facebook, then skip this step. Add links to the one or two interesting things that you find on Twitter each day that relate to your specialty area. That will start giving you some interesting content on your Facebook page (instead of it staying blank), feed it into your fans’ Facebook content streams, and give people an idea of what to expect in the future.
Look for interesting groups on Linkedin that focus on your specialty area and join them. Consider starting your own Linkedin group. See what people are sharing in the groups you join. Consider sharing some of what you find on Twitter in the discussions area of the groups that you join (or create) to add value.
Scour the web for sites and blogs in your specialty area that are ideally independent of any one company, publish interesting content, and have multiple contributing authors. Ask your friends and network connections in your specialty area for recommendations too. Use Alexa, Compete, and other tools to identify which of the sites get the most traffic.
Refer to your research in step #1 to identify which topics in your specialty area that customers look for information on the most to help them further their progress along their purchasing journey. Hopefully one or more of these topics you will have deep knowledge and expertise on. Commit to writing a white paper on one of these topics.
See if one or more of the sites in step #7 will allow you publish an article announcing your research effort for this white paper on their web site in order to build interest and hopefully participation in this effort.
Write the white paper (ideally with contributions from current or prospective customers), and when complete, create one or more articles for digital publication from each white paper.
Add another simple form to your landing page for people to fill out with name/company/title/email/phone in order to download the white paper (make phone optional) and ask their permission (with a check box) to send them information about an upcoming webinar to discuss its findings.
Create an electronic presentation to share the findings of the white paper you’ve created. Be sure to embed contact details in it and a link to your landing page (which will become your web site later).
Create accounts on presentation sharing sites like Slideshare and Scribd and share the presentation you’ve created. Be sure that you fill out your profile on these sites and include a link to your landing page as part of your profile if possible.
Inquire with the most promising sites identified in step #7 to find out if they accept article submissions and submit one or more of the articles you created from your white paper.
Identify short snippets from the white paper and articles that work well as quotes or insights and will fit into status updates on Twitter, Facebook, Linkedin, Google+, or other communities where it makes sense to share them. Be sure and include a shortened url (bit.ly, su.pr, ow.ly, etc.) to the article, presentation, or white paper.
Look for professional associations and complimentary vendors in your specialty area that conduct regular webinars and ask if they would be interested in doing a webinar with you to share the findings of your white paper with their members or current/prospective customers. If you do a webinar, be sure that they record the webinar and share the link with you to the recording (and hopefully the email list of attendees). Check to see if they can provide a recording of the webinar in a video format that you can share. If you can’t find someone to do a webinar with to share your findings, consider doing one yourself. While having a large number of people attend live is helpful, what is more important here is the recording (you can help potential customers find this 24/7/365).
Add the link to the webinar recording to your landing page.
Create an account on YouTube and possibly also on Vimeo and populate your profile in a similar manner to Twitter (not neglecting to link to relevant assets). Upload the video file from the webinar (if you were able to get one), plus add it to your Facebook page if you’ve created one. If you are comfortable in front of the camera, consider recording a separate video segment highlighting the key findings from your white paper to upload to your video channels.
Be sure and share links to the white paper, the webinar, the webinar recording, and any articles you created from the white paper through your Twitter, Facebook, Linkedin, and any other communities linked to your subject matter.
Repeat as many times as necessary until you have enough content to build your web site.
Last but not least, design and build your web site, incorporating all of the content elements that you created. Not only will it be easier to build the web site because you have already built a lot of the content required to populate any design your web designer might come up with, but the quality of your web design may improve and be more social because the designer will have a clearer idea of what you are selling and the goals you are trying to achieve with your new web site.
The importance of social media in the internet ecosystem is only continuing to grow, and so it is time to design web sites in a different, more social way. The way that people buy things, especially more complicated products and services with longer cycles (particularly B2B products) is changing as well. This will make marketing organizations focus more on pull marketing and less on push marketing. This will force marketers and entrepreneurs to focus less on building beautiful, flash-driven web designs and more on building valuable, socially-driven, content-rich ecosystems (of which the web site is only a part).
In short, the future of marketing belongs to marketers who are good at creating social pull.
So, how strong is your social pull?
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If the innovation war is just beginning, then you need to make sure you’re fighting it outside your organization — not inside.
The old way of succeeding in business was to hire the most clever, educated, experienced and motivated people you could afford and then direct them to come up with the best customer solutions possible, organize and execute their production and marketing predictably and efficiently, and do their best to outmaneuver the competition.
But the battlefield of business success is changing. Future business success will be built upon the ability to:
Utilize expert communities.
Identify and gather technology trend information, customer insights and local social mutations from around the globe.
Mobilize the organization in organic ways to utilize resources and information often beyond its control.
Still organize and execute production and marketing predictably and efficiently in the middle of all this complexity.
At the same time, market leaders will be increasingly determined not by their ability to outmaneuver the competition in a known market, but by their ability to identify and solve for the key unknowns in markets that will continue to become more global and less defined. Future market leaders will be those organizations that build superior global sensing networks and do a better job at making sense of the inputs from these networks to select the optimal actionable insights to drive innovation.
By this point, hopefully you are asking yourself two questions:
Have you ever wondered why with all of the people trying to innovate, more innovation isn’t created?
I’ll give you a hint…
Often, something gets lost in the translation between what people think their customers want and what their real desires are.
Part of the reason so many people fail to innovate is that they fail to recognize that ideas and innovation are not the same thing. Ideas are easy, innovation is hard. For ideas to translate into innovation they must be based on unique insights that unlock new customer value.
In their book The Other Side of Innovation, Chris Trimble and Vijay Govindarajan assert that:
Innovation = Idea + Execution
Successful innovation is based on how effective firms are at execution, and that ideas aren’t as important as execution. But the equation could be better because many companies are good at generating ideas and at executing their ideas, but are still bad at innovation. The problem is not that companies don’t know how to execute, but that they often fail to identify a unique insight that unlocks sufficient new customer value to displace existing solutions.
So let’s modify the equation to be:
Innovation = Insight x Execution
The equation improves by multiplying the two elements instead of adding them because if the insight is not unique or does not unlock new customer value, then even the best execution doesn’t equal innovation.
But even this modified equation doesn’t go far enough. Instead it should be something more like this:
In 2011, I was a regular contributor to the American Express OPEN Forum on the topic of innovation. Here is the first one of that year:
Have you ever woken up in a cold sweat in the middle night from a nightmare focused on you throwing a big party that nobody comes to? Or, in real life, have you ever thrown a big launch party for a new product or service, made a lot of noise with advertising, marketing and public relations – only to have the sales returns be anemic at best?
According to a Linton, Matysiak & Wilkes study from 1997 titled Marketing, Witchcraft or Science, the success rate for new product introductions in the food industry is only between 20 and 30 percent. But, there is a key insight inside that data not to be ignored. The results highlight the power of market research and strategic marketing:
The bottom 20,000 U.S. food companies in the study combined for an 11.6 percent success rate.
The top 20 U.S. companies in the study enjoy a 76 percent success rate for new product introductions.
Sure, the 1997 data is coming from a single industry that many of you may not be in, but other data I’ve seen from the Product Development Management Association (PDMA) and other sources are similar and reinforce the importance of market research and strategic marketing. Worded another way, success in the market is often:
In support of my crowdfunding project over on IndieGoGo I am offering an incredible deal to the first TEN (10) individuals to grab this perk:
In exchange for each $500 investment, the first TEN (10) people anywhere in the world will get:
One of only TEN (10) spots in an online seminar where I will personally train you on how to facilitate a Nine Innovation Roles workshop or public seminar
A share of any Nine Innovation Roles Workshop leads that I can’t fulfill myself
A Nine Innovation Roles Seminar Pack – which includes TEN (10) Nine Innovation Roles Group Diagnostic Tools to use with your first set of workshop participants (a $199.99 value)
This is a great opportunity to add the Nine Innovation Roles Group Diagnostic Workshop to your roster of innovation services that you offer to clients. You should be able to charge between $2,000-$5,000 + expenses for each of the sessions you facilitate depending on the length and amount of custom content, so you should recoup your $500 investment after running your first workshop or public seminar.
The Nine Innovation Roles diagnostic workshop will create a fun, interactive experience for innovation teams or organizations to use to help people better understand what roles they fill on innovation projects, why the team’s or organization’s innovation efforts are failing, and how they can together improve the innovation performance of their teams or organization.
So, grab this Amazing Innovation Keynote and Nine Innovation Roles Workshop Deal and help your innovation teams be more successful in the future. Don’t wait. Be one of only TEN (10) people worldwide to get this perk, or pre-order the seminar kit and run run workshops or seminars on your own.
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It’s a wedding proposal from an actor in my hometown to his now bride to be, and is a great example of re-imagining a traditional activity in our society – the marriage proposal.
The things I love about it are not the actual creative execution but the principles exemplified by the experience:
If you have a great product or service, people will be willing to help you sell it
If it’s really good, they may go out of their way to help you sell it – or even do so without asking your permission
Oregon fosters creativity 😉
Focus on more than the transaction – Make magic!
Skills can from other contexts can be valuable to the current challenge
Have fun with everything you do and you’ll have better results 🙂
Don’t just ask people to help, make it fun to help
Give people something to talk about and feel the love spread 🙂
Even if your customers or community do the sales pitch – YOU’VE GOT TO CLOSE
What magic are you making?
Are there boring transactional parts of your business that could use a little love and magic?
Don’t be afraid to invest in reducing the friction in your adoption process. You’ll improve the value access performance in your innovation equation:
Innovation Success (or even business success)
= Value Creation
+ Value Access
+ Value Translation
I had the opportunity to attend the Front End of Innovation a couple of years ago in Boston and of the three days of sessions, I have to say that unlike most people, my favorite session was that of Dr. Clotaire Rapaille. The author of “The Culture Code: An Ingenious Way to Understand Why People Around the World Live and Buy as They Do”, Dr. Rapaille extolled the crowd with his thoughts on ‘codes’ and ‘imprints’.
For me this particular session was the one that most synchronized with how I view the front end of innovation. For me, the front end has nothing to do with ideas or managing ideas, but instead is all about uncovering the key insights to build your ideation on top of.
Now, there are lots of insights that you can build your ideation on top of to create potentially innovative ideas. Consumer insights is one of the building blocks and the one that Clotaire Rapaille has built his empire on. Dr. Rapaille’s core premise is that there is a ‘code’ for each product and service that drives its purchase and adoption. That ‘code’ in turn is driven by the ‘imprints’ that people make when they first understand what something is for the first time and the sensations and feelings they associate with it.
For example, kids don’t grow up drinking coffee, but they grow up smelling coffee from a very young age, most often in the home. So, most of us imprint coffee to the home and our mothers and have a stronger feeling about the smell of coffee than the taste. What does this mean for coffee sellers? Well, instead of focusing on the taste to drive sales (the logical response), they are more likely to have success by focusing on the smell and on creating images that make the product feel like home.
Taking the concept of ‘codes’ and ‘imprints’ further, Dr. Rapaille spoke about how he doesn’t trust what people say, and so he instead focuses on what people do. If you look back at the coffee example, our logical brain would tell us to prefer the coffee that tastes the best, but the reptilian brain will prefer the coffee that smells the best because of the strength of the imprinting. And according to Dr. Rapaille, the reptilian brain always wins.
To make his point, Dr. Rapaille talked about how we remember our dreams – because the cortex arrives late for work. Translation? Our logical brains (cortex) arrive after a decision has already been made by the reptilian brain or the emotional brain and so the logical brain gets put to work justifying the reptilian or emotional brain’s decision with logical reasons. How else would you explain the purchase of a Hummer after all?
Sounds easy right? Well, it gets more complicated as culture gets involved. For example, another of Rapaille’s examples that was not shared at the event is how in the United States the code for a Jeep is ‘horse’ and so the headlights should be round instead of square because horses have round eyes, but in France the code for Jeep is ‘freedom’ because of the strength of WWII liberation imprints – meaning that the marketing strategy for Jeep in France is completely different than in the United States.
Because imprints happen in general at a very young age and given the reach of Dr. Rapaille’s work, you can see very quickly why so many organizations are marketing to children, even for products that are for adults – seemingly as a way to make sure that ‘imprints’ are made so that there is consumer demand to draw on in the future. Or is that conspiracy theory at work?
Dr. Rapaille at the Front End of Innovation also spoke about how when it comes to technology, people want to be amazed, people want the technology to be magical, and to use his favorite phrase – people want to say “wow!” For wow to happen in technology according to Dr. Rapaille, we must strive for simplicity – one magical step with no cables.
Meanwhile, in our organizations we must try and identify what our organization’s ‘code’ is and better leverage multi-disciplinary, multi-cultural teams to drive creativity, while also being careful not to change the code of the organization so much that people don’t recognize it, or trust in it. And finally to use one of Dr. Rapaille’s many generalizations, Americans love to try things (they learn that way), and they love the impossible, so don’t be afraid to ask them to do it.
When I distill all of what he had to say and what he has had to say other places, for me it boils down to one key insight about the limitations of innovation methodologies like:
Customer-led innovation
Needs-based innovation
Jobs-to-be-done
This insight is that the reason that asking customers what they want is problematic is because of the inconsistencies between imprints and intellect, between the reptilian brain and the logical brain, and between knowing and doing. Taken together this ties in nicely with something I have believed for a while now…
When it comes to driving adoption, it matters less what you say and more what you can get others to do. As marketers we are far too focused on trying to get people to ‘tell a friend’. We should be more focused on getting people to ‘show a friend’.
So, what is your code for successful innovation?
What do you want others to show?
Please think about it and let me know what you come up with in the comments.
For those of you who want to know more, check out this embedded via from PBS’ “The Persuaders” with Douglas Rushkoff:
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‘Who should be responsible (if anyone) for trend-spotting and putting emerging behaviors and needs into context for a business?’
I believe this question should really be broken up because there are three VERY different (and incredibly important) pursuits intermingled here:
Trend spotting
Putting emerging behaviors into context for a business
Putting emerging needs into context for a business
Only at the very beginning of a business, when it is all or nothing for a small team of founders, should responsibility for these three tasks be combined. The reason responsibility for these three different pursuits should be split up is because each requires a different way of thinking, that often requires different types of people to generate the most relevant and actionable insights.
As I’ve written before, insights and execution are the real keys to business success, and in building any successful innovation – the insights come first. So, combining these three pursuits properly and getting the insights correct is incredibly important – otherwise you’ll design, build, and distribute a solution that misses the mark with customers.
Trend spotting requires big picture thinking, a talent for separating the notable from the unimportant, the ability to see how potential trends connect together, and the vision to see the impact of this trend intersection (what megatrends might they point to, etc.).
Putting emerging behaviors into context for a business requires an incredible capacity for insightful observation, the ability to spot influential thinkers who are good at identifying and describing changing behaviors, and the skills to synthesize a collection of perspectives into a cohesive view of the future. This view of the future must of course have a strong chance of being correct.
Putting emerging needs into context for a business is incredibly difficult and requires understanding how emerging trends and behaviors will intersect with new technologies and other business capabilities to expose new customer needs. Those new needs then represent potential growth areas for businesses to enter with new solutions. The goal of course is to identify and act upon these emerging needs before the competition has the opportunity to observe these needs as expressed behaviors and actions and react.
The one skill that all three share in common however, is the ability to disconnect one’s own perspective from the changing perspectives of others. Whether you as an organization choose to hire people into these roles, hire in consultants to provide this insight, or to spread the responsibilities around the organization, you must have a strategy.
Personally, I believe organizations may soon begin creating insight networks within their organizations in the same way that they currently do with innovation. This means having a central insights team at Corporate HQ with strong executive support that is responsible for managing the process, the distributed global network, its training/certification, and its outputs. This does not have to mean starting a new team – companies could incorporate these responsibilities within an existing dedicated-innovation infrastructure. So, can an insight management software industry be far behind?
And last but not least you will need to assign people to monitor trends and emerging behaviors and needs from Six Ways to Sunday:
Demographic and Psychographic Changes
Legal and Political Changes
Different Geographies
Different Industries
New Supplier and Technology Capabilities
New Business Capabilities and Business Models
Do you have a strategy and responsibilities in place for spotting trends and emerging needs/behaviors in your organization?
What are you waiting for?
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