Sagacious Jones innovation audit - delivery
Name
Position
Company
4. Delivery Innovation Types
4.1. Customer Innovation
Do you have an innovation methodology and process that is customer focused in that it strategically looks at potential ways to expand or change the traditional customer base for a particular product or company?
(WR Grace created a new multi-million dollar market for themselves when they realized they could sell the same waterproof sheeting used to waterproof homes to an entirely new market – waterproofing boats!)
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4.2. Differentiating Innovation
Do you have an innovation methodology and process that looks at the ways in which one can manage strategic options, challenging the differentiating factors that your industry typically competes on?
(Most industries have a common set of competing factors along which all companies position themselves against. The airline industry for example is usually competing on price and scheduling. However, what if your company decided to challenge those factors and instead try to compete using something totally different? Virgin and Southwest Airlines are both good examples of companies that have challenged the status quo of their industry – as Apple did when it released the very first colorful iMac into the PC market at a time when all computers were typically dressed in black, white, or beige.)
4.3. Pricing Innovation
Do you have an innovation methodology and process that includes a commercial or financial component that examines how new pricing models can be applied to secure better and longer revenue returns for a company?
(Mobile phone companies are typically strong in this area, constantly changing pricing models to appear cheaper to the average consumer, whilst at the same time increasing profitability in their target markets.)
4.4. Sales Model Innovation
Do you have an innovation methodology and process that distribution and the actual methods used by a company to sell its offerings?
(For example, you might change from using a direct sales force to a looser network of resellers to expand your geographical reach without incurring a large base cost, or you might decide to sell direct to customers and forgo a retail presence in order to offer lower costs and increase margins.)
4.5. Launch Innovation
Do you have an innovation methodology and process to innovate the take it to market proposition?
This includes the development of new methods and processes for commercializing and launching a new product or service. Note that the situation of a launch process is not limited to new customer offerings. Innovation in this area can also be applied to launching internal programs.
(Bristol-Myers’ Squibb’s “War on Diabetes” project for example, allowed BMS to introduce a range of diabetes products and management tools that help improve the quality of life for diabetes patients, achieving one of the fastest conversion rates for a patented drug in the history of the pharmaceutical industry – all through launch innovation.)