A big part of my job is helping companies build or improve their innovation capabilities. Sometimes this means starting with a clean slate; I get to build an incubator or an innovation lab from the ground up. Other times it means coming in later in the process to help an organization improve the outcomes of its innovation efforts or to tie together disparate innovation activities that are happening within the company.
With much of the world recently locking down in one form or another, individuals have been spending far more time in their homes. Some businesses have basically had to build a digital presence overnight, while others have simply seen their digital channels rise in importance. Because customers are having so many more digital interactions, even businesses with established online operations are starting to realize that customers are raising the bar in terms of their expectations for a good customer experience (CX).
I talk with clients these days, I often hear them ask a recurring question: how do we know which customer behavior changes will endure and which behaviors will revert to normal in the coming months?
A few years ago, I developed a framework for finding, testing, and mitigating risks and uncertainties in periods of volatility.
When I first started helping companies deploy Jobs to be Done within their organizations, people were largely unfamiliar with the concept.
By: Dan Paikowsky
Between 2008 and 2018, average rents across the US rose by 34%, roughly four and a half times the 7.4% growth in median income.
By: Dave Farber
I recently spoke with the newly appointed Head of Product for the innovation lab at a large financial services company. Given that she had only been in the role for a few months, I wanted to talk about the challenges she was facing and what she was prioritizing early on. Her answer surprised me a bit.
Executives are under constant pressure to boost revenue and increase profitability. In the abstract, that’s fairly straightforward. When you stop and think about what you actually need to do to have a meaningful impact, however, the details can quickly become mind-blowing.
I spent last week at The Market Research Event (TMRE) in Las Vegas, talking to Insights and Innovation professionals about the challenges they’re facing and the strategies they’re using to make their companies more customer-centric.
For many years now we’ve seen the dangers of defining your business too narrowly. Think about Borders, which pioneered the book megastore model.
Over the past few years, Jobs to be Done (“JTBD”) has emerged as one of the leading tools for innovators. As companies struggle to figure out which products will become breakthrough innovations and which will fall flat, companies large and small have time and again found that Jobs to be Done can provide the answer.
By : New Markets Advisors
The need to humanizeIn the summer of 2017 Halo Top stunned the industry as it became the best-selling pint of ice cream in U.S. grocery stores.
By: Dave Farber
We often talk about how the world is changing faster than ever. Information can spread quickly, and people can learn about the next big thing in a matter of hours.
For years, Columbia Business School professor Rita McGrath has been telling us that the traditional strategy of finding and exploiting a sustainable competitive advantage is becoming outdated.
Every manager in the corporate world has a wishlist of projects that have been relegated to the back burner. There are research questions that should get answered, product concepts that should get explored, and processes that should be made more efficient.
I write frequently about Jobs to be Done — a theory that describes how consumers buy products to solve various jobs they’re trying to get done in their lives.
Companies today worry too much about being fast. They want to fail quickly, pivot, and be first to market with their new idea. They want to make sure that they’re in front of customers before their competitor
We live in a tough time for retailers. Mall visits have declined substantially over the past decade; they dropped 50% from 2010 to 2013 and have continued to fall since.Major retailers are liquidating, which creates empty spaces within malls, making them even less attractive to visit
When it comes to innovation, one of the biggest impediments is also one of the most frequently overlooked: inertia. Companies often mistake inertia for loyalty.
Conscious consumers — those who make a deliberate choice to support ethical businesses with their purchases — are hardly a new phenomenon.
For quite some time, the world’s top management thinkers have been telling us that customer centricity is the key to success. As the Ubers and the Airbnbs of the world have reaped massive profits by becoming deeply responsive to customer needs, the business community has largely gotten on board.
By: Conor Fitzpatrick
Mark Twain once said, “there are three kinds of lies: lies, damned lies, and statistics.”
The term “creative destruction” was coined by famed economist Joseph Schumpeter in the 1940s. In defining the term, Schumpeter described the “process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one.”
For the fourth year in a row, the Harvard Business School Association of Boston hosted its Business of Food panel discussion.
By: Dave Farber
Earlier this year, I was at the Front End of Innovation Conference, and I had the pleasure of meeting some folks who are responsible for customer insights and product marketing at Nest.
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