How to Grow Your Business with Customer-Centric Innovation

To really grow your business, you need not just new products, but innovative business models and marketing. Our Customer-Centric Innovation Model™, based on over 20 years of research and practical applications, integrates and elevates your innovations.

We were engaged by a healthcare IT client to map their growth plan. Their initial idea was to do what they did before; make customized software solutions. This demonstrated a trap we see often —technology-based companies making things because they can, not because they should.

Instead, we helped the company step back and examine the customer experience with fresh eyes. This revealed several meaningful problems they could solve that went beyond just product innovation. For example, they realized doctors needed help attracting patients newly insured through the Affordable Care Act. The company had a piece of the solution —the analytics that can drive decisions for both doctors and patients. This moved the company to explore new business models, including acquiring a healthcare practice management firm in order to complete the solution. They also assessed the options of expanding their brand to accommodate this new service or bringing it to market under a separate name. In all these considerations, the customer was at the center.

Customer-centric innovation expands the realms of innovation, which in turn offers more value to your customers. However, it can be disruptive to your company, bringing up issues of tradition, turf, etc. This is not a bad thing. It means you’re really putting the customer at the core.

Read more on how to improve your product innovation:

How to Get to Breakthrough Innovation: Desirability First! How to Come Up With Better Products & Programs: The New Blue Zone Approach How to Make Better Innovation & Marketing Decisions: The “Think vs. Know” Test

Powerful Results: Click here for real case studies that show you the results you can get.

Moshe Engelberg, Ph.D., M.P.H.
President
ResearchWorks, Inc.

Your Marketing Minute© is an electronic newsletter based on the consulting, teaching, and speaking of Dr. Moshe Engelberg. Please contact us with feedback, questions, or for further information at info@researchworks.com

ResearchWorks, Inc. is a company dedicated to helping socially minded companies get measurably better marketing results. Guaranteed. Reach us on the web at www.researchworks.com or by email at info@researchworks.com.

In our next issue: Your next product launch: How to knock it out of the park!

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