Develop Winning Innovation Ideas
At Growth Innovation Strategy Group, we employ a systematic, customer-centric approach, priming your business to devise game-changing innovation ideas. Our emphasis lies in comprehending your target customer, their needs, and the value they seek, enabling us to craft potent strategies for product development, marketing, and critical business decisions.
Our process reveals a crisp market definition to prioritize key customers, potential products and services tailored to customer success metrics, and underserved and overserved needs that allow us to direct resources to features with the most impact. We’ll help you find overlooked opportunities by segmenting markets based on unique unmet needs, resulting in innovative ideas to enhance products and make strategic investments.
Target Customer Identification: We initiate by pinpointing your target customers, understanding their "jobs-to-be-done," and allowing us to perceive the market through their lens.
Interviews & Surveys: We compile data via interviews and surveys, probing into customer experiences, motivations, and behaviors across the stages of consideration, understanding, purchase, and usage.
Data Analysis: We dissect the data to reveal patterns and insights that can steer your business decisions, spanning from product development to marketing strategies.
Use Cases: Armed with these insights, we develop customer-centric products or services, refine marketing and messaging, and confirm product-market fit.
Trust Growth Innovation Strategy Group to help you not just develop an innovation idea but to craft a winning one - a solution that fulfills unmet customer needs and propels your business growth.
Learn how Growth Innovation Strategy helps our clients identify the most productive innovation ideas:
Build Customer-Validated Prototypes
Growth Innovation Strategy takes advantage of the sprint process to help clients transform innovation ideas into customer-validated prototypes. Our systematic approach steers your team from alignment to prototyping and testing, swiftly gathering valuable insights and data from real customers
Pre-Sprint Preparation: We conduct a comprehensive assessment, gather background information, market research, secure a suitable room, and assemble a diverse team of your employees.
Structured Conversations: We host your team in focused conversations, defining key questions and long-term goals to streamline information gathering and prevent aimless discussions.
Individual Sketching: The team tackles the problem using a method optimized for deep thinking, with each individual sketching detailed, opinionated solutions.
Decision-Making: The team determines which sketches to prototype and test, combining elements of winning sketches into a step-by-step plan for the prototype.
Prototyping: The team constructs a realistic prototype simulating a finished product, allowing us to obtain the best possible data from customer testing and validate our direction.
Testing: We lead your team through a process where the prototype is presented to customers in 1:1 interviews, providing quick answers to pressing questions and saving time and expense of a full-scale launch.
Our sprint process is designed to deliver swift, actionable feedback on your innovation ideas, delivering you confidence to move forward knowing you have a viable solution that caters to your customers' needs.
Learn how Growth Innovation Strategy deploys design sprints to surface customer-ready innovations:
Craft Practical Innovation Strategies
At Growth Innovation Strategy Group, our approach to innovation strategy is meticulously designed to help you identify opportunities, mitigate risk, and maintain a competitive edge.
External Innovation Scan: We identify disruptive forces and opportunities, presenting a comprehensive view of key market trends to inform your innovation strategy.
Future Opportunities Identification: Together, we pinpoint promising opportunities aligning with your long-term mission for incorporation into your short-term strategies. We deliver a prioritized list of products and capabilities for innovative focus.
Innovation "Desired Future State" Definition: We help identify your current and future innovation types for optimal resource allocation, using the "Three Horizons" model to categorize and focus your innovations effectively.
Internal Innovation Audit: Our team conducts an internal evaluation to identify strengths and areas for improvement, providing actionable recommendations to enhance your innovation capabilities toward your Desired Future State.
Innovation Portfolio Development: We analyze risks and opportunities to identify customer-centric innovations, guiding you in technology adoption and incremental changes for a practical innovation backlog and potential ROI estimation.
Innovation Capabilities Gap Analysis: We aid in understanding your current innovation state and formulating a realistic plan toward your desired outcomes, resulting in a clear innovation roadmap.
Innovation Strategies Selection: We assist in determining your best innovation strategy approach - whether top-down, bottom-up, or external partnership - resulting in a clear innovation mission and vision, bolstered by optimized practices for swift adoption.
Our innovation strategy approach equips you to navigate the future and seize arising opportunities. We're here to help you innovate and grow, ensuring your success in a dynamic market.
Read how Growth Innovation Strategy helped one client craft a winning innovation strategy that matched their goals and constraints:
Innovation Performance Management
Innovation Performance Management is critical for CFOs, boards of directors, and operations leaders. At Growth Innovation Strategy Group, we establish consistent Key Performance Indicators (KPIs), instill disciplined best practices, and enforce diligent oversight, fostering continuous improvement even within the realm of innovation.
Innovation KPIs and Performance Monitoring: We aid in the setup of potent KPIs and performance monitoring systems tailored to your innovation endeavors. Our strategy includes:
External Innovation KPIs and Benchmarking: We identify suitable external KPIs and benchmarking tools to ensure your competitive edge in the market.
Internal Innovation KPIs for Performance Management: We establish key internal KPIs to track the progression and success of your innovation initiatives.
Performance Monitoring Targets, Review, and Support: We institute systems to regularly review and support your progress towards these KPIs, guaranteeing ongoing enhancement.
Innovation Operating Model and Portfolio Management: Our services extend to establishing an Innovation Operating Model and managing your innovation portfolio. Together, we will:
Establish an Innovation Center of Excellence (CoE): We assist in creating a centralized hub of innovation expertise and resources.
Link Innovation CoE with Company Strategy and Business Line Leadership: We ensure your Innovation CoE operates in harmony with your overarching company strategy and business line leadership.
Develop a Portfolio of Strategic Innovations: We aid in the construction of a portfolio of strategic innovations that exploit the known, explore the unknown, and deliver predictable ROI.
Innovation Governance and Risk Advisory: To manage risk and maintain governance in your innovation endeavors, we provide:
Internal Risk Assessment: We identify and monitor the most significant internal risks to your innovation initiatives and devise strategies to mitigate and circumvent them.
External Disruption Risk Delivery: We pinpoint potential external disruption risks that could impact your business, prompting strategic review and risk mitigation.
Strategic Innovation Program Alignment: We align your company leaders to a concentrated strategic innovation program, ensuring unanimity in working towards shared goals.
With our Innovation Performance Management services, you'll be equipped with the tools and strategies necessary to manage and enhance your innovation efforts, ensuring their valuable contribution to your overall business success.
A Growth Innovation Strategy survey discovered corporate leaders knew more about where they wanted to go than how to get there. Read more:
Innovation Diligence and Governance
The Harvard Business Review reports 30% of board members rate innovation among their top three priorities, and more than one in three identify keeping abreast of new technologies and disruptive risks as a significant challenge. Yet, fewer than half of these members feel proficient in these areas, and barely one in five boards have innovation expertise. This is where Growth Innovation Strategy can provide support with our TRENDWISE Disruption Index and deep strategic consulting. We assist boards that are:
Increasingly concerned about innovation and disruption.
Eager to better understand emerging trends.
Worried about missing growth opportunities.
Conscious of their fiduciary responsibility to stay ahead of innovation.
Learn more about the Growth Innovation Strategy TRENDWISE Disruption Index.
Internal Risk Assessment: We evaluate and monitor significant internal risks to your innovation initiatives, creating strategies to mitigate and avoid them. We assess people, processes, and technologies to answer key questions:
Are frontline employees equipped to drive innovation?
Can operational processes be adapted to foster innovation?
Is the management team equipped to lead this effectively?
Can your organization meet or exceed industry innovation benchmarks?
External Disruption Risk Delivery: We identify potential external disruption risks that could impact your business, prompting strategic review and risk mitigation. Using our proprietary TRENDWISE Disruption Index monitoring system, we determine the type and direction of disruptive forces and use scenario analysis to illustrate potential impacts on your business.
Identify Future Opportunities: We help you recognize the most promising future opportunities and disruptions that may need attention, ensuring alignment with your long-term mission and short-term strategies for the upcoming 12 months. You’ll receive a force-ranked list of products, business models, processes, and capabilities requiring innovative thinking, tailored to facilitate understanding and alignment.
Through our Innovation Diligence and Governance services, you'll possess the tools and strategies necessary to manage and enhance your innovation efforts, securing their invaluable contribution to your overall business success.
Learn how Growth Innovation Strategy can help you set board-ready KPIs to ensure innovation stays focused, disciplined, and effective:
Strategic Innovation Program Alignment
Growth Innovation Strategy will facilitate a captivating Innovation Strategy Visioning Workshop specifically designed to formulate a comprehensive innovation plan tailored to your organization's unique needs. Our process culminates in an immersive 1-2 day interactive session, and for added convenience, we offer a flexible online version of the process.
Understanding the Current Scenario: Our journey begins with a deep dive into your current environment. We engage in detailed discussions with your team, perform extensive analysis of relevant documents, and conduct environmental scans to identify competitive risks and market opportunities.
Vision and Mission Alignment: As a next step, we engage your team in a collaborative process to define a shared 3-5-year innovation vision and mission. This shared foundation will aid us in pinpointing the strategies that will fuel your innovation journey.
Identifying Enablers and Blockers: By identifying the values, behaviors, and risks that might influence your innovation strategy, we aim to ensure your plan moves forward with minimal disruptions and maximum impact.
Setting Priorities and Goals: In collaboration with your team, we establish strategic priorities and define specific, measurable, and time-bound targets that align with your innovation vision and mission.
Building the Action Plan: The final stage of the process is a dynamic workshop where we develop a comprehensive action plan. This includes assigning responsibilities, setting up measures for each goal, identifying necessary support, and crafting detailed delivery plans.
Rely on Growth Innovation Strategy to steer you through a transformative innovation strategy visioning workshop, positioning your organization for sustainable success.