The Easy Part of Innovation: Coming up with Ideas.
It doesn’t even take that long. It is almost instantaneous and if you are struggling, here is a simple formula:
- Write down the five health claims that are in vogue right now (Low Fat, High Protein, Low Carb, Low Sodium, Vegan Friendly)
- Next list four flavours that you are able to deliver (Chocolate, Strawberry, Vanilla, Lime, Blueberry)
- And finally jot down the three product types that you can manufacture (yoghurt, custard, chilled dessert)
With just the above 13 elements (5 health claims, 5 flavours, 3 product formats) you have 75 ideas! It's that easy to have more ideas that you will ever be able to work through.
Now onto the hard part...
The Hard Part of Innovation: Turning Ideas into Successful, High Quality & Enduring Products.
Remember the Consumer Value Equation?
Consumer Value is increased by increasing the perception of quality. Sounds simple enough.
But hang on a second. The current thinking and pipeline approach to innovation doesn't allow time for quality. Ideas need to be delivered fast, even if it means neglecting quality. Launch fast. Fail fast. Smash through the pipeline. Quantity. Quantity. Quantity.
Guess what? Quantity isn't even mentioned in the Consumer Value equation. Consumers don't care how many other products were launched, or how many failed or how many other ideas are back in the pipeline.
What they care about, or what they value is Quality at a price they are willing to pay.
And the only way you can ensure you deliver quality, is if you make the effort to build in quality as your design your product. And by quality I don't mean the Quality Assurance model that will be used on the factory floor to enusre safe products, I mean the quality that consumers will use to judge your product by, and decide if they will purchase your product again.
Innovation isn't a quantity game - consumers don't care how many products are launched.