Innovation in Practice Blog
The LAB: Innovating a Membership Club with S.I.T. (April 2012)
How do you attract new customers while retaining current ones? For many categories, you attract new customers by showing high satisfaction with current customers. Put the current customer first and you will increase your appeal to new customers.
The challenge is when you have to change your product to meet the different demands of new customers at the risk of alienating existing customers. For example, imagine you owned a prestigious, members-only dinner club with a strong following of older, traditional patrons. They are fiercely loyal and attached to the various details such as the glassware and the color of the table cloths. Any changes are seen with suspicion. You want to bring in new members, but need to change the club to appeal to younger potential members. Too much change will drive away current members.
For this month’s LAB, we will apply Systematic Inventive Thinking to address this apparent conundrum.
Making it Sustainable: Innovation Suite No. 9
Making innovation sustainable means: 1. learning how to innovate, 2. getting results from innovation workshops, and 3. building the internal support systems to keep it going. Join Idit Biton and Yoni Stern from SIT in New York City, June 18-20, 2012 for...
Innovation Sighting: Yahoo’s e-Book Advertising
Yahoo’s recent patent filings suggest it is entering the e-Book market, a move that will pit it against Amazon, Apple, and other content providers. But given the nature of the patent filings, Yahoo seeks to leap over the competition with a potentially more innovative approach. Yahoo’s concepts conform to the Attribute Dependency technique, one of five in the SIT Method. Research shows that new products that conform to one of the five SIT techniques tend to be more successful in the marketplace.
The Innovation Measurement Trap
Measuring innovation can lead to unintended consequences. Here are eight ways to avoid the traps.
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