“Innovate.” “Cut costs.” These aspirations are common among corporations, and they often feel opposing. But, they are not inherently at odds. Whether fending off threats of steep competition, protecting against economic downturns, or simply aspiring to grow fast, you can radically lower costs while innovating and pushing forward.
Companies like Planet Fitness, Yotel, and Starbucks prove it. They find success with innovations that are both affordable and compelling.

The key lies in “Costovation,” a way to wow customers without high costs. It is how companies create low-cost innovations by using a fresh perspective on the market, a willingness to challenge assumptions, and a relentless focus on their customers’ needs. From simplifying offerings to streamlining traditional supply chains and leveraging new technology, Costovation allows companies to find new ways to meet, or even exceed, customers’ expectations, cheaply.

Watch Stephen Wunker, Managing Director of New Markets Advisors and author of the book Costovation: Innovation That Gives Your Customers Exactly What They Want—And Nothing more for a recorded conversation on Costovation, as he explores how organizations can:
  • Design new strategies for business model innovation​
  • Identify what customers really value, and what they don’t​
  • Discover hidden opportunities to make big savings​
  • Use strategies to fuel low-cost innovation​ from companies like Planet Fitness, Yotel and Starbucks
  • Examine indicators that your industry is ripe for Costovation​​

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