In a whispered voice, a B2B business executive confided to me that his company seldom spent more than $10k on their product launches… even after spending hundreds of thousands developing the product. This isn’t launching a product. This is kicking it off the loading dock and hoping someone finds it.
More in article, Stop Squandering Your Product Launch Budget
Imagine a project that leads to new product sales of $5 million per year, with average profit margins. What’s the net present value of launching this product just one month earlier? $80,000! That’s $4000 per business day. Think we could use a little more “innovation urgency”? Consider three ways business leaders can accelerate projects… First, ... Read More
Leaping Up the Innovation Ladder: The Six Levels of Customer Engagement—and Why Scaling It Will Boost Your Bottom Line What kind of innovator is your company? A “Conference Roomer”? An “Expert Asker”? Or something else entirely? According to Dan Adams, the most effective (and richest) companies directly engage the customer in their innovation efforts. Cuyahoga ... Read More
The Domino’s Theory: What Your Company Can Learn from the Customer-Driven “Pizza Turnaround” When the pizza giant asked consumers to tell the truth, it ended up back at the proverbial drawing board. (Or should that be cutting board?) New product development guru Dan Adams says there’s a lesson in this story for all of us—and ... Read More