Are you paving the way for driving REAL VALUE from your innovation investments?
The BCG analysis claims there is a “10-percentage-point increase, to 75%, in executives reporting that innovation is a top-three priority at their companies”
Are you paving the way for driving REAL VALUE from your innovation investments?
The April 2021 Boston Consulting Group report says that “2020 saw innovation rapidly ascend the list of top management priorities”. It adds however that businesses: “…have yet to build the systemic ability—the underlying processes and capabilities that drive innovation—to transform ambitious aspirations into real results.”
It goes on to say that “…some 80% of consumer-facing companies use only the most basic customer insight tools”. What this means, is that businesses who commit to using cheap DIY platforms tempted by the fast, flashy data it generates, can also be left with data that lacks depth and leaves a lot of heavy lifting to turn the data into actionable insights.
So what’s the alternative?
At Catalyx, we see the most compelling insight happen when we capture the reactions & feelings of a client’s ‘crowd’ at representative scale.
We achieve this using our proprietary Consumer Activation System which helps businesses to unlock the most growth from current and future products and communication.
The system, for which we have just won a Quirk’s Media Marketing Research and Insight Excellence Award for Best New Product Innovation, focusses on four critical areas to build better growth: insight, innovation, communication, go to market:
Insight that unlocks growth to know where to innovate
Innovation that people can’t wait to buy
Communication that cuts through and drives engagement for innovated products and services
Go to Market that maximises commercial success of your innovation launch in-market
As such, combining smart technology with the power of our strategic storytellers, enables us to transform insight into intelligent actionable recommendations that grows our client’s brands.
Smart Tech + Smart Insight = Smart Brands*
*Leaving clients with complete, consumer, clarity using a tried and tested approach.
As the BCG report highlights: “Converting insights into winning formulas isn’t the result of one-off efforts but rather of a systematic approach to experimentation and innovation.”
And we agree. It’s about strategic partnerships that can support the internal eco-systems around insight and innovation for the long-haul.
So what’s your approach?
Fast, cheap, data? Or innovation to unlock value and grow your brand?
If you’d like to know more about how you can utilise the power of the Consumer Activation System to get closer to your consumers, please contact us.
Read the Boston Consulting Group Report – Overcoming the Innovation Readiness Gap here