How we're tackling
global businesses challenges.
global businesses challenges.
How do you spot innovation opportunities?
- There is reason to believe the opportunity will solve an actual human problem – either now, or in the future
- The opportunity contains a willingness to pay
- The problem space should be realistic and enable you to meet your growth ambitions for the next five to ten years
Great opportunities leverage your strengths and stand the test of time. Before engaging in research, we empathize with our clients to understand their superpowers and blockers so we can fine-tune opportunities for them. Innovation opportunities stretch the boundaries of what our clients are capable of doing, without being too far out of reach.
Go broad, go deep, and take it all in. Look at market trends to understand the big shifts in how people behave and industries operate. Identify extreme consumers, and observe their behavior, their goals, and their journey. Look for rich stories, inconsistencies, tensions, and surprises in their behavior.
Great opportunities are human-centric, rooted in real needs that we observe today – and that we believe will stand the test of time. They should stimulate many ideas, not just one.
At the end of the day, you’ll be evaluating the quality of the opportunity by the diversity of ideas it generates – and the desirability, viability, feasibility, and social and environmental integrity of these ideas.
How can businesses imagine and create better experiences?
Creating better consumer experiences starts with the realization that everything is an experience. What we need is to qualify what kind of experience, and through which channel, we are looking to design.
The majority of ‘experiences’ are actually ordinary parts of our daily lives. What differentiates great experiences is expectation. Take for example how FinTechs accelerated a shift in the banking industry by transforming an experience that we expected to be slow and bureaucratic, into something we can solve with a few clicks in an app; it became a great service experience. Or how Apple introduced its now-famous iPhone packaging, transforming what we expected to be an ordinary package into a great unboxing experience, leaving us with a higher perceived value of the iPhone – to the point where we even keep the box for no real reason.
A good starting point, to qualify the experience you want to create, is your brand; what kind of emotions do your consumers associate with your brand and how can you elevate them? Another is jobs to be done and elements of value. Do you want to create an experience that reduces effort, in one extreme, or that provides hope, in another?
As great consumer experiences are about expectations, remember that if you try to delight without meeting the basics of consumer expectations, your experience will backfire: no one cares about a chocolate under the pillow if the sheets are stained.
Finally, don’t stop calling your products “products”, your stores “stores” or your services “services” only to start calling them “experiences”. They already are experiences: good or bad, ordinary or unexpected.
Why does innovation fail?
Additionally, innovation often fails due to a lack of flexibility; sticking to an idea and not being able to pivot often has a costly and inefficient outcome. Think big, start small, and learn fast. Use experiments to validate the most critical assumptions of your proposition.
Thirdly, the lack of real customer and behavioral insights creates wrong assumptions about your market, leading to low adoption and ultimately the failure of your innovation. Imagine for example that you’re launching a new preventive health solution to market based without having deep insights into what drives patient behavior chances are that you will imagine a future state patient journey that will not drive adoption.
How can we design human-centric healthcare solutions?
By working together with other players inthe healthcare ecosystem, you can deliver value that elevates the entire health system rather than just your product or company goals.
Think bigger about the health impact and potential roadmap of your intervention as it is rolled out and scaled globally – re-define your company’s role in your patient and customer’s life, by getting involved in new ways and increasing the overall customer lifecycle value (CLV).
How can we design the next big consumer product?
We’re shifting from ‘designed for cost and machines’ to ‘designed for circularity and life’. Consumer goods businesses tend to have some of the most complex supply chains, often with a global footprint, and traditionally designed to reduce cost and mass-production. Consumer brands are under increasing societal and legal pressure to integrate Life Cycle Assessments into products, communication, and bottom line profitability, and generally shift the focus to designing for circularity and life.
We’re shifting from ‘global and standard’ to ‘local and adaptable’. With our saving, shopping and buying habits having shifted dramatically based on shocks from Covid-19, Global inflation pressures and the increasing access to technology and more cost-effective options, the one-size-fits-all approach has become risky and fragile. Consumers are engaging in products and services that fit their functional, emotional and economic needs in real-time. Consumer brands need to prioritize consumer closeness and local decision-making in key markets.
We’re shifting from ‘physical’ to ‘integrated hybrid experiences’. The experience economy “revolution” is not a single tsunami event but rather a constant tidal force with technology as the main enabler. Consumers today demand experiences that are simple, frictionless, personalized, and can cater to their preferences, platforms and timeline.
How can you gain deeper customer insights?
- Being more human-centric and understanding the different values and behaviors of the individual
- Knowing and understanding the ecosystem and environment in which they are acting and making decisions
On the human-centric side, we look at the actions, behaviors, and values of each individual person, and how they culminate into personascustomer journey maps. We can use behavioral science to understand consumers’ motivations and triggers that we can impact to change their behavior.
On the ecosystem side, we look at the market, the industry, the systems at play, and the immediate choice architecture of critical decisions. By mapping the needscape of tomorrow, we can identify and prioritize underserved customer segments with unmet needs. Articulating end-to-end value chains turns gaps and threats into opportunities.
How can businesses respond to changing consumer behavior?
How can you de-risk your innovations?
Through experimentation and validation, you move away from the standard innovation approach used in corporations (read: build the car, launch it on the market) towards a lean, de-risked approach, where user testing allows for evidence-based decisions.