Drive Growth With Product Innovation
To drive growth through product innovation effectively, you have to have the right process and the right tools to discuss, compare and evaluate ideas. This is where things get tough!
When most people think of product innovation, they think of new ideas and new ways to solve a problem. But that’s only half of the picture. Real innovation requires understanding whether an idea can actually succeed in the market. In other words, will it attract customers and drive growth, or is it an idea in search of a market? SmartOrg gives companies the ability to evaluate their ideas and test them before they invest time, money, and energy in product development. Our team of experts helps business leaders:
- Effectively evaluate and compare very different ideas.
- Make tough decisions when you don’t have all the answers, you know the future is uncertain, and you have a lot riding on your choices.
- Decide which products are most likely to deliver the most future revenue.
- Compare existing product development efforts with a variety of new product ideas.
- Factor in improvements to existing products into the mix to make sure you are making the right choices.
- Prevent incremental projects from crowding out more innovative options that have more revenue potential.
Are you overwhelmed by choices?
Product Innovation Complexity
Let’s say that you have 10 products in development for 10 different vertical markets. That’s 100 options – and most of them aren’t viable in the long term. SmartOrg’s software and services make it easy for you to evaluate your options quickly and efficiently and narrow them down to the five or six that will make you the most money.
The Secret to Successful Product Innovation
Let’s face it: most new ideas fail. Some of them are bad ideas, but most of them are good ideas that lack a clear path to market success. For example, a new search engine may be the best in the world, but the odds of success in a market dominated by Google are so small as to make even the best technology unlikely to triumph. Or a new medicine may look great on paper, but ultimately it won’t get approved by the FDA because of side effects. SmartOrg was created to help innovators evaluate their ideas and products and focus on the ones with the best chance at success while eliminating the ones that don’t stand a chance.
SmartOrg has been applying its deep roots in decision science to the business problems of Fortune 100 companies for over 15 years. Companies with large long term investments in R&D and New Product Development (NPD) – such as TEVA Pharmaceuticals, Bayer, Dow AgroSciences, Boeing commercial airplanes – depend on our solutions to optimize their return on investment.
Here is what our customers have to say about how we help them innovate.
Interested in learning more?
- Watch this 1 minute video to learn what you have been missing out on.
- Read “Perfecting the Recipe for Breakthrough Product Innovation”
- Learn how Hewlett-Packard (HP) uses SmartOrg to Turbocharge New Business Creation
- Learn how Inspire Pharmaceuticals was able to harness uncertainty to drive their innovation strategy
- Learn how a major oil company improved its results by 100% by aligning technology with business value