The importance of creating a good product roadmap “A good roadmap is a useful product management tool: it informs the business, guides our tactics, and prevents us from getting distracted.” – Paul Young, Product Beautiful Challenges in developing a product roadmap Like any other business initiative, developing and following a product roadmap presents challenges. For […]
Disruptive innovation – When innovation is threatening Even though this term was was coined in 1997 by Harvard business school professor, Clayton Christensen, many people are just starting to learn about it. According to many sources, disruptive innovation is one of the most important innovation theories of the last decade. In Christensen’s own words, disruptive
Why you want your customers to leave feedback about your products and services It’s a fact. Today’s social customer will actively engage with their favorite brands and gladly leave feedback related to their experiences. Despite this incredible customer involvement, many organizations are still not making customer feedback an integral component of their product development strategies
Move over traditional customer service strategies As a result of today’s competitive economy, it is imperative for businesses to come up with customer service strategies that will allow them to retain their customers and keep their business ahead of the competition. ‘Traditional’ customer service strategies are no longer as effective. These days, companies must use
Co-creative methods for customer engagement In the article “Building the Co-creative Enterprise,” Francis Gouillart and Venkat Ramaswamy use Lego to illustrate the success of adopting a co-creative mindset and enhancing customer engagement. They explain how Lego invited customers to participate in the design and development of toy robots and construction models, and then shared these
Customer loyalty is all about attracting the right customer, getting them to buy often and in higher quantities and bring you even more customers. Thus, building customer loyalty is the key to increasing business profitability. Recognizing this, many companies are depending on loyalty software to establish a better customer loyalty program. Gain trust with customer
Social innovation fuels product development As competition to gain market share increases, leading companies, like Lego, GM and Threadless, are actively exploring innovative strategies for bringing more profitable products to the market more quickly. One of these strategies is social innovation. The ability for customers to interact with organizations and their brands on the social
In light of April Fool’s day, we thought we’d share some fun information about innovative businesses. Coming up with innovative business ideas There are many debates to what constructs an innovative business. The most popular definition of an innovative business is that it is one that takes an existing idea, but creatively reinvents it to
Staying ahead in the marketplace with effective innovation strategies Successful companies understand that in order to stay in the game and achieve profitability they need to constantly innovate. The development of an effective innovation strategy provide organizations with a framework to successfully create innovative products and services that surprise and delight customers and exceed market
What is business innovation? Business innovation is the process of reinventing your business and adapting new business models, new management techniques, new technologies, and new forms of stakeholder participation in order to build a stronger and more profitable business. A brief history of business innovation In his article entitled There is a New Way to