We have seen an interesting article in 1to1 Magazine (http://bit.ly/aHqbKn) that looks at how companies are embarking on innovation management strategies that draw more heavily than ever on customer insight which, claims the article, ultimately leads to more successful product launches.
The article claims that, “fuelled by a hunger to succeed in this ailing economy”, companies are increasingly turning to customers, employees, and other stakeholders to come up with the ideas that will ultimately lead to new products and services.
The piece raises some interesting points, not least in setting out the increasingly varied ways in which companies are looking for and finding innovation within their own businesses. What it doesn’t demonstrate, though, is how necessarily to do it well. Ideas conceived in isolation are only half-formed. The real challenge for brands is in whether they are brave enough to implement the ideas that will create genuine stand-out for them in their market place and the attention to detail that goes into the execution of the concept.
And that’s the point at which customer insight agencies have a genuine role to play, providing the information that help brands prioritise those ideas for development and ensuring that budget is put to work on the most important and viable of the concepts developed via the engagement strategy.
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