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Those who sacrifice innovation on the altar of safety end up losing both. Get out more. It will help you minimize risk. These kinds of projects pull in lots of manpower, funding and management attention. But after two or three years, they often end with a whimper, typically from a fatal flaw that should have been discovered much earlier. And we need to reduce our technical risk through open innovation by uncovering and introducing technologies from outside our companies.

Learn New Product Blueprinting Skills - Workshops and Software

Directly engage your customers. Level 2: Ask our experts — polling your sales force, tech service and others to determine customer needs.

New product blueprinting : the handbook for B2B organic growth /

Level 5: Quantitative VOC interviews — adding numerical feedback to drive out bias and wishful thinking. Click here to learn more about B2B-optimized interviews. But you can avoid allowing your company to spiral into irrelevance. Once you understand the very real, very profitable benefits of changing the way you innovate, nothing will hold you back. Most importantly, says Adams, the study highlighted one essential element of successful innovation that too many companies forget.

You should actually be focusing your efforts on engaging your customers!

Trying times: Five reasons to embrace new product blueprinting

The Booz Allen Hamilton study found that when it comes to innovation, customer engagement has a huge payoff. Shareholder Return : Total shareholder return that was 65 percent higher. Return on Assets : Return on assets that was two times higher. Take it to the next level. For more than five years, Adams has been helping B2B suppliers engage their customers in the innovation process.

In that time, he has almost seen it all!

Level 1 : Our Conference Room : At the lowest level, you decide what customers want around your conference room table. Internal opinions determine the design of your next new product. Level 2 : Ask Our Experts : At the next level, you poll your sales force, tech service department, and other internal experts to determine customer needs. Quantitative feedback drives out assumptions, bias, and wishful thinking. B2B-optimized interview methodology fully engages them to take advantage of this.

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  • Boost B2B Organic Growth by Letting Customers Surprise You.

A successful company innovates for its customers, not itself. Too often, innovation is misunderstood as the process of coming up with the right answers. This client planned to confirm facts, validate hypotheses, and fill in gaps. You know what you think hypotheses. Only the customer knows the issues that truly matter to them—and you need to engage in a way that allows these important issues to surface. My point is, in the best B2B interviews and tours, the customer leads.

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Clever suppliers use advanced methods that continually put them in a position to be surprised. These surprises—not fill-in-the-blank interview guides—provide the spark for true innovation. Your NPD process is backwards. Most suppliers start with their own solutions to assumed customer needs. And when do they test real customer needs? At the end …by seeing if customers buy their new product.

Plant Engineering | Trying times: Five reasons to embrace new product blueprinting

And you would uncover and pursue customer needs your competitors had completely missed. And no one will have to look at those boring questionnaires again! Subscribe to Our Free Newsletter Enter your primary email address.

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