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Customer insight for innovation
Hear about how we help with customer insight including our RIDGE process for insight.
Research has shown that up to 90% of new products fail.
Why is this?
It seems that new products are often launched into crowded markets but are poorly differentiated. What this can show is that the company did not fully understand what their customers wanted.
When a new product fails it can have a devastating effect on a business. It feels like time and money has been wasted and the new product team will be feeling down. What’s more, it may knock their confidence for the next launch – and as we know, you need confidence in order to be creative and innovative.
For new products and new services to succeed they need to be grounded in real customer insight. Insights are customer truths that are often hard to get at. However, the team that can access them will be able to unlock key business opportunities.
For innovation teams to get to insights, they need to understand their customers at a deep level. They also need to be able to understand the context of their customer’s life or experience.
Innovation teams need more than market research to do this. Market research looks at your market as if through a rear view mirror. It reports on the way the world was, it does not suggest how the world or your market might be.
For new product development teams to get to insight, they need to be able to collapse the market model they have in their minds. They need to be able to look at market research and other data in fresh ways. They need to be able to connect different pieces of data. Ultimately they need to connect those different pieces of data into a new model of the market.
Anatellô’s RIDGE process for insight helps innovation teams do all this and more.
Just imagine how it will be when your teams have learned new tools and techniques to handle data in more creative ways. Imagine how much more confident they will feel when they have an insight process, like a roadmap that takes them all the way through, from gathering data from a broader range of sources, to combining that data into insights.
Because insights provide a really robust platform from which to invent new propositions, just imagine how the risk of product development will be reduced.
So if this appeals to you, and you want to learn more, please get in touch. We’ll help you differentiate your new propositions much more clearly through insight.