Predicting innovation success is like looking at a crystal ball
Too many projects on the innovation roadmap? Which features to implement? Which functionalities put into a digital solution?
As companies typically have too many ideas it can become challenging for chief developers, design teams and CFOs to make these tradeoff decisions.
Predicting innovation success is like looking at a crystal ball.
There are ways to look through the crystal ball and predict which ideas will most likely win. It's called Customer Focused Innovation, or CFI.
CFI is a systematic process to uncover unsolved problems of your different stakeholders in the market. And let me tell you, CFI always finds opportunities not yet fulfilled by existing products.
Why?
Because CFI looks holistically from the perspective of the customer and not from the perspective of the technology or the company. Because it goes deep into how people measure success when using a product. And because it systematically matches ideas against those success metrics.
That way it becomes clear which innovation idea, which product feature and which digital functionality will add most value to potential customers. And this early on in the innovation process, before too many resources are committed.
You want to hear an example?
A software company built a prototype with more than 100 features impossible to implement them all. Asking potential users the conventional way did not tell the team which of these features will make a difference.
The CFI process, however, uncovered customer problems the team had not even considered. Future customers ranked those problems with quantitative facts.
As a result, the list of 100 features could be prioritized to seven. Seven hero features for which customers will pay.
The crystal ball became transparent. The team was convinced and developed at the speed of light.
CFI helped more than 100 companies to aim for the right ideas in dozens of industries in B2B, B2C and healthcare.
Challenge us, we love to frame it for your industry.
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