From our experience with best practice companies, substantial incremental revenue is generated from effective innovation.
Create the fastest revenue lift with CEVOH Innovation jumpstarts
Why should you want “Innovation Jumpstarts” from CEvoh?
Our proven methods generate more viable ideas
CAGR gaps can be offset with innovative revenue jumpstarts
Best practice companies generate 55% of incremental revenue from new ideas
The CEVOH innovation roadmap makes it easy to get started and to sustain incremental revenue
Innovation Jumpstarts include “CEVOH SCANS” which clarify customer value needs and competitor weakness
Our “Tempered Concepts” approach expedites ideas to market
CEVOH Innovation Jumpstarts help you create a “Culture of Innovation” within your organization
Call us or text us. We can set up a short meeting to share our approach on innovation to jumpstart your new product development and grow incremental revenue. Take a moment to review the slides below.
Six steps in the cevoh Innovation roadmap:
These are the six proven best practices from those companies deriving substantial incremental revenue from innovation.
GATHER INSIGHT - We use powerful tools to identify customer needs; evaluate competitors; Identify disruptive technologies and evaluate your current internal environment.
DEFINE APPROACHES AND GOVERNANCE - CEVOH and Your Teams will help create an “Innovation Culture” for the organization.
DEVELOP IDEAS (IDEATION) - We bring innovative ideas. And we create structured ideation sessions and virtual processes to result in a large number of relevant new products/services in both the adjacent and transformational areas.
TURN IDEAS INTO REAL, VIABLE CONCEPTS - We develop tempered concepts from mild ideas. These include features/benefits, visuals, elevator pitches and unique selling propositions.
GRADE AND FILTER TO FOCUS - We utilize proven systems to prioritize concepts and match these to utilize limited internal resources.
COMMERCIALIZE and GENERATE BUILD/BUY ANALYSIS - We are always on the lookout to find viable M&A prospects, and we build powerful Go-To-Market action plans to accelerate the adjacent and transformational incremental revenue within the portfolio.
6 Step Process Jumpstarts Your New Product Innovation
Our roadmap is the key to speed. Most companies we work with are highly motivated to “make numbers”. We developed the roadmap featured here to help expedite incremental revenue from innovation. You could try to do all this yourself - and would likely achieve some lift, but we have seasoned experts that help you avoid the pitfalls, move more quickly and get the right concepts to market. Engaging CEVOH is not expensive, and it is going to have a significant ROI.
Without help from CEVOH, a typical organization will only create innovative ideas from less desirable areas. In some cases, the areas in this slide may produce some incremental revenue, but in most cases they do not create much incremental margin. Often we find these ideas have been used over and over, and the absorb critical internal resources. Studies have shown that we all “tend to ideate close to home” meaning we come up with ideas that are very comfortable to our own world. CEVOH efforts disrupt this tendency by bringing the right “trained brains” to help your internal team - and ultimately come up with much better ideas, more ideas, and tempered (ready for market) ideas. If you don’t bring in an outside team like CEVOH to help you innovate, often the result are ideas that do not create any incremental customer value. Without incremental customer value creation, incremental revenue cannot be sustained.
This slide showcases how different industries generate incremental revenue from both adjacent and transformational innovation. As the study from HBR illustrates, the percentages from best practice companies are rather large. To meet and sustain these percentages of incremental revenue, you need to hire a company like CEVOH. Especially noteworthy are the differences between adjacent and transformation groupings. Adjacent innovation might be the type of things we are more used to seeing from a company like Apple - where the truly transformational innovation ideas are more of a challenge. Adjacent innovation in this example might be different form factors, better features/benefits and some mild differentiation gains - all to help improve incremental customer value. An example of a transformational innovation would be the development of better AI methods that help humans complete mundane tasks. In this example, the transformational innovation might create whole new value streams to attract new, unique customers. The transformational innovations are harder to achieve and generally provide larger incremental revenue and margin.
One way to jumpstart the number and quality of innovative ideas is to hire a company like CEVOH to help you. This is a complicated and detailed chart - that is best presented in person for an interactive discussion. However, this chart is a critical piece of the CEVOH Innovation Jumpstarts. By looking thru the various ideation focus areas represented on this chart - you can begin to see how ongoing innovation and a pivot to a culture of innovation takes some structured and focused initiatives. For example, the mix of adjacent and transformational ideas is dependent on the functional departments in an organization. Also, the mix of ideas will differ greatly by the orientations, history and past successes of each team member. CEVOH will normalize all this in a thoughtful way to help your organization create an innovation culture that is inclusive, on-going and successful to result in potential incremental customer value and incremental margin.
As the previous chart introduced, we are all subject to bias in our creation of ideas. In this chart - and as a reminder, we can have either a left brain dominate, right brain dominate or both brain dominate orientation. As you can see, the natural comfortable function can dominate during ideation sessions. CEVOH can help build the right ideation teams with best practice approaches so that all functions contribute to the best ideas.
Once the best ideas are brought forward, CEVOH makes these rough ideas “real” by building product concepts. We call these “tempered concepts”. Tempered, as they represent some changes to make them better. As you can see in this very detailed slide is a representation of the tempered concepts generated by a leading US Telecom. These concepts include a relevant image, thoughtful narrative, customer benefits, concept features, a unique selling proposition and some mild financials. The Goal here is to put each concept on the same “fair” basis so that they can be compared to each other and to the customer value needs. Once the tempered concepts are created, outside customer panels or focus groups can be asked to grade their viability, and/or internal teams can begin to build, buy and determine implementation rack and stack feasibility assessments.