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Week 1
                                     1.9.2012
                                       Part 1




       INV 282:
Welcome to Communicate!



   “To give you the tools and confidence to
   communicate meaningfully unique ideas”
Agenda:
   Course Introduction
   Discussion of Writer’s Notebook
   5 Minute Free Write
   Review of Innovation Engineering “Create”
    Fundamentals
   Introduction to the Three Laws of Marketing
    Physics
Writer’s Notebook
• Record your free writes & anything else you’d like to record
• This is for you, so don’t worry about spelling, punctuation,
  complete sentences, etc. The purpose of the free writes is
  for you to learn to trust your words by letting them flow.
• Can be Can be handwritten or electronic
       • Note: If it is handwritten, you must have scanning capabilities.

• Be sure to keep up with your free writes because you will
  be asked to submit excerpts later in the semester and this
  is 20% of your final grade.
5 Minute Free Write Prompt:

  Think about your own communication style.
     What are some of the challenges you
experience when trying to articulate your ideas?
   How do you hope this class can help you
     improve your communication skills?
                Click to start 5 minute timer.

                            www.A6training.co.uk
Review of Innovation
    Engineering
   Fundamentals
The Whole Brain Approach
              ®




                    It’s Cross
                    Training
                    for Your
                    Brain
Eureka! Equation
Meaningfully Unique ideas…
• Offer a solution to a problem where a better, more
  efficient solution doesn’t already exist.

Example:
Meaningful Uniqueness means…
Customers are willing to pay more money for:

                               3. Your product offering

                               5. Your service offering

                    7. Your research, project, or cause

                       4. You as an employee offering
Where do the ideas come from?
• A systematic approach to creativity


Task  Stimulus Mining  Creativity Tools
Stimulus Mining

                   Tech    Future
                  Mining   Mining

                  Market Insight
                  Mining Mining
Future Mining
“ Anticipating the Future”




                             Future
                             Mining
Future Mining                                                          Future
“ Anticipating the Future”                                                       Mining



             1. Mine Mega Trends
                                            4. Mine the Arts and
             A general shift in             Artists
             thinking,
                                            The old and the new.
             populations, regulations
                                            Mind stretching views of
             or behaviors.
                                            what is and could be.

             2. Mine Industry
             Momentum                        3.. Mine Lead Users
             Industry observers, experts,    “Lead users will face the same
                                             needs as will the marketplace
             veterans, longer term shifts
                                             but months to years before the
             and the “revolutionaries”       marketplace does.”
                                                 As defined by Eric von Hippel of MIT
Future Mining             Trend
“ Anticipating the Future”          Mining


                  Where to do it…
 1. Internet Sources




 2. People Sources
Future Mining                       Trend
“ Anticipating the Future”                    Mining


Three Steps of Identification

                       1. Mega Shifts


                 2. Market Consequences


                3. Innovation Possibilities
Tech Mining
“ Treasure Hunting”




                   Tech
                  Mining
Tech Mining                                                          Tech
                                                                              Mining
   “ Treasure Hunting”


                       Innovation Mining
                       “ Inventions, Technologies, Products”

               Raw                 Refined        Real
               Inventions          TechnologiesProducts


Wisdom Mining                                 Collaboration Mining
“ Facts & Knowledge”                          “ Inventors, Supply Chain”
 Research              Market                  Inventors who     Suppliers who
 Discoveries           Knowledge               could help        could help
Tech Mining                                                          Tech
       “ Treasure Hunting”                                                        Mining



                           Hints for Success
                                            3. Combine Parts Into New
1. Be open to “getting lucky”
                                            Ideas
• Try MaineInnovationMarketplace.org
                                            • A piece of this and that
• Try simple Google Searches
                                            • Try simple Google Searches
• Try simple patent searches
                                            • Try simple patent searches
2. Deconstruction
                                            4. Follow the Leaders
• Mine Parts & Processes to simplify task
                                            • Follow the people you find
• Dig to learn who, what, why, how
                                            • Follow the patents you find
• Search for Technology & “the effect”
                                            • Follow the organizations you find
• TechMining101.com
Market Mining
“ Lets You Leapfrog”




                       Market
                       Mining
Market Mining                               Market
                                                     Mining
    “ Lets You Leapfrog”


Benchmarking:
•Provides a snapshot
                                   1. Marketplace Matrix
• Identify industry standards
• Industry best practices
                                   3. SWOT
• Identifies opportunities to go
beyond the competition
Benchmarking
           Market Mining                                                       Market
                                                                               Mining
      “ Lets You Leapfrog”


Marketplace Matrix
   Step 1: Deconstruction
                                                Step 3: Identify Opportunities
   • Identify alternatives
                                                • Strengths that can be leveraged
   • Direct competitors
                                                • Weaknesses that can be
   • What do people use if no direct            addressed
   comparison?
                          Step 2: Investigation
                          • Gather the perceptions & Facts
                          • See & experience differences for
                           yourself
                          • Interview experts
Market
        Market Mining                                                          Market
   Mining                                                                      Mining
   “ Lets You Leapfrog”
Marketplace Matrix
Example
Coffee Shop Comparison
                    Current
                                               Other              Other
                            offering:
                                             Option # 1:        Option # 2:
                           Cool Beans
                                             McDonald’s         Starbucks
                           Coffee Shop
                              Evidence:
                            More than 75
                                              Evidence:          Evidence:
             Factor A:      coffee options
                                           Only a handful of    19 different
             Number of    including dozens
                                           different flavors      flavors
              Options       of iced coffee
                                             and varieties
                                flavors

             Factor B:       Evidence:                           Evidence:
                                              Evidence:
             Comfort of     Comfortable                        Wooden chairs
                                             Hard, plastic
              Seating     leather couches                       with plush
                                               chairs
                             and chairs                         cushioning.
Market Mining     Market
                         Mining
  “ Lets You Leapfrog”

SWOT Analysis
Insight Mining
“ Voice of the Customer”




                         Tech
                        Mining


                  Benchmarking

                                 Insight
                                 Mining
Insight Mining                           Insight
                                                  Mining
“ Voice of the Customer”


             Insight Definition
      A customer understanding that can be
       leveraged to persuade customers to
        purchase your product or service.

     Insights help you make meaningfully unique
     ideas from Voice of the Customer research.
Insight Mining                     Insight
                                            Mining
“ Voice of the Customer”


Insight Mining – 2 Step Process
Step 1: Mine for STIMULUS.
        • Ask about & observe situation

Step 2:         and        about possible
          IDEAS and Opportunities
Insight Mining                                                       Insight
                                                                              Mining
“ Voice of the Customer”

 The Four SIMPLE QUESTIONS
 2.“What do you like about _______ ?

         - What else... What else... What else...

 3.“What do you dislike about _______ ?

         - What else... What else... What else...

 4.“What would be such a wow that you’d be willing to pay more money for it if it
 was available?”

 5.“If you could wave a magic wand what would you wish for other than a lower
 price?”
Once you’ve used stimulus mining to fill
      your brain with information…
• Use what you have learned to help you generate
  ideas using the creativity tools.

       Future         Tech              Market      Insight


   Out of the Box Industrial Strength      Linear      Classic
Stimulus
 Mining
   +
Inventing
  Tools
   =
Eureka!
 Ideas
I have an idea, now what?

1. Address a Problem or Opportunity
2. Make an Overt Benefit Promise
3. Provide Real Reason to Believe Proof

…To successfully articulate the Meaningful Uniqueness
  of a dramatically different idea.
Making the Overt Benefit Promise:
     It’s not boasting if
       you can deliver!
You Must Answer:
   Customer: “Which of my problems are you solving?”

   Customer: “Why should I care?”

   Customer: “Why should I believe you?”

       Customer: “This is meaningfully unique!”
By the end of this course you
               will be able to
assess the meaningful uniqueness of an idea or
product, having learned to articulate:

                   1. The Problem solved,
                   2. The Promise made,
                   3. And the Proof provided.
Take a few minutes to reflect:

    What did you
      learn?
Take a Break!
Click to start 20 minute timer.
         www.A6training.co.uk


           End
Week 1
                                     1.9.2012
                                       Part 2




       INV 282:
Problem, Promise, Proof



  “To give you the tools and confidence to
  communicate meaningfully unique ideas”
Agenda:
   “Make it Stick” through writing
   Addressing Problems & Opportunities
   Making an Overt Benefit Promise
   Providing Real Reason to Believe Proof
Use Writing to “Make it Stick”

How come you remember some pieces of writing and
forget others?

      “The Kidney Heist” urban legend
                       VS.
 An article published on safe surgical access
          routes for kidney extraction

                 Click to start 5 minute timer.

                            www.A6training.co.uk
Clarity is key!
If you can’t clearly articulate your idea in writing then you
         have virtually NO CHANCE of success.




                         Source: American Marketing Association
Writing that sticks
makes its readers care.
Persuasive writing is the catalyst for
         consumer action.
The most successful writing will always:
          • Address a problem or opportunity
          • Make a promise to an intended audience
          • Provide credibility to the promise by
             providing proof


                           Therefore, successful writing will
                           explicitly tell you how meaningfully
                           unique a product is.
The Innovation Engineering System for
           Making it Stick:

1. Relative PROBLEM
2. Overt Benefit PROMISE
3. Real Reason to Believe PROOF

       3 Ps = Meaningfully Unique
1. Problem
PROBLEM
• Always relative to target audience
• Can also be an opportunity

   An innovator is always aware of the problem or
  opportunity they are addressing during the creation
      process. The key is the innovator’s ability to
    articulate it so that other’s can identify it as well.
3 Types of Problems

Complaints   Frustrations   Wishes
2. Promise
Overt Benefit PROMISE
     You TRIPLE the effectiveness of
   your marketing efforts by OVERTLY
  communicating your customer benefit
                             Probability of Success


         Low Overt Benefit                  13%



   Medium Overt Benefit                               26%


      High Overt Benefit                                    38%
Overt Benefits
Solve Problems
Overt Benefit PROMISE
• Always offers something to the intended
  audience
  – Answers the questions
     • “What’s in it for me?”
     • “Why should I care?”



                “Because our product will make you
                faster, smarter, sexier…”
Benefits are “What’s In it for the Customer”
                 What they will


Receive, Enjoy, Experience
              In exchange for their


Time, Trouble, Trust and Money
Overt Benefit PROMISE:
    The Axe Effect
3. Proof
“Why should I believe you?”
Real Reason to Believe PROOF
  You DOUBLE your odds of success when you
   communicate a REAL REASON TO BELIEVE
   that your OVERT BENEFIT will be delivered.
           Real Reason To Believe    Probability of Success


       Low Real Reason to Believe             18%


    Medium Real Reason to Believe                       29%


       High Real Reason to Believe                            42%
Reason to Believe
is Relative to the Benefit Promise
 Target                   Reason to
Audience       Benefit     Believe
PROBLEM       PROMISE      PROOF
 “who”         “what”      “how”
How do you do it?
It’s Simple

BE
REAL
Tell the TRUTH &
do what you promise.
Real Reason to Believe
GOLD
    Tell the truth about how you can
accomplish what others can’t.

  SILVER
       Provide secondary proof
       - Testimonials - Demonstration
       - Test Results  - Guarantee

       BRONZE
          Provide your personal
          Pedigree / Experience / Resume
Let’s Practice
                             Imagine / Make Up PROOF
        Benefit
                            We can promise this because...
       PROMISE

More reliable auto repair    Example: …our customer break down 50%
         service             than other drivers


                             Example: …we make our pizza in the van
 Fastest pizza delivery      on the way to your house

                             Example: …we’re the only dry cleaner who
  The convenient dry         will pick up and drop off your dry cleaning
   cleaner in town.          at your door.



                                                            THINK
Take a few minutes to reflect:

    What did you
      learn?

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Week 1 slides

  • 1. Week 1 1.9.2012 Part 1 INV 282: Welcome to Communicate! “To give you the tools and confidence to communicate meaningfully unique ideas”
  • 2. Agenda:  Course Introduction  Discussion of Writer’s Notebook  5 Minute Free Write  Review of Innovation Engineering “Create” Fundamentals  Introduction to the Three Laws of Marketing Physics
  • 3. Writer’s Notebook • Record your free writes & anything else you’d like to record • This is for you, so don’t worry about spelling, punctuation, complete sentences, etc. The purpose of the free writes is for you to learn to trust your words by letting them flow. • Can be Can be handwritten or electronic • Note: If it is handwritten, you must have scanning capabilities. • Be sure to keep up with your free writes because you will be asked to submit excerpts later in the semester and this is 20% of your final grade.
  • 4. 5 Minute Free Write Prompt: Think about your own communication style. What are some of the challenges you experience when trying to articulate your ideas? How do you hope this class can help you improve your communication skills? Click to start 5 minute timer. www.A6training.co.uk
  • 5. Review of Innovation Engineering Fundamentals
  • 6. The Whole Brain Approach ® It’s Cross Training for Your Brain
  • 8. Meaningfully Unique ideas… • Offer a solution to a problem where a better, more efficient solution doesn’t already exist. Example:
  • 9. Meaningful Uniqueness means… Customers are willing to pay more money for: 3. Your product offering 5. Your service offering 7. Your research, project, or cause 4. You as an employee offering
  • 10. Where do the ideas come from? • A systematic approach to creativity Task  Stimulus Mining  Creativity Tools
  • 11. Stimulus Mining Tech Future Mining Mining Market Insight Mining Mining
  • 12. Future Mining “ Anticipating the Future” Future Mining
  • 13. Future Mining Future “ Anticipating the Future” Mining 1. Mine Mega Trends 4. Mine the Arts and A general shift in Artists thinking, The old and the new. populations, regulations Mind stretching views of or behaviors. what is and could be. 2. Mine Industry Momentum 3.. Mine Lead Users Industry observers, experts, “Lead users will face the same needs as will the marketplace veterans, longer term shifts but months to years before the and the “revolutionaries” marketplace does.” As defined by Eric von Hippel of MIT
  • 14. Future Mining Trend “ Anticipating the Future” Mining Where to do it… 1. Internet Sources 2. People Sources
  • 15. Future Mining Trend “ Anticipating the Future” Mining Three Steps of Identification 1. Mega Shifts 2. Market Consequences 3. Innovation Possibilities
  • 16. Tech Mining “ Treasure Hunting” Tech Mining
  • 17. Tech Mining Tech Mining “ Treasure Hunting” Innovation Mining “ Inventions, Technologies, Products” Raw Refined Real Inventions TechnologiesProducts Wisdom Mining Collaboration Mining “ Facts & Knowledge” “ Inventors, Supply Chain” Research Market Inventors who Suppliers who Discoveries Knowledge could help could help
  • 18. Tech Mining Tech “ Treasure Hunting” Mining Hints for Success 3. Combine Parts Into New 1. Be open to “getting lucky” Ideas • Try MaineInnovationMarketplace.org • A piece of this and that • Try simple Google Searches • Try simple Google Searches • Try simple patent searches • Try simple patent searches 2. Deconstruction 4. Follow the Leaders • Mine Parts & Processes to simplify task • Follow the people you find • Dig to learn who, what, why, how • Follow the patents you find • Search for Technology & “the effect” • Follow the organizations you find • TechMining101.com
  • 19. Market Mining “ Lets You Leapfrog” Market Mining
  • 20. Market Mining Market Mining “ Lets You Leapfrog” Benchmarking: •Provides a snapshot 1. Marketplace Matrix • Identify industry standards • Industry best practices 3. SWOT • Identifies opportunities to go beyond the competition
  • 21. Benchmarking Market Mining Market Mining “ Lets You Leapfrog” Marketplace Matrix Step 1: Deconstruction Step 3: Identify Opportunities • Identify alternatives • Strengths that can be leveraged • Direct competitors • Weaknesses that can be • What do people use if no direct addressed comparison? Step 2: Investigation • Gather the perceptions & Facts • See & experience differences for yourself • Interview experts
  • 22. Market Market Mining Market Mining Mining “ Lets You Leapfrog” Marketplace Matrix Example Coffee Shop Comparison Current Other Other offering: Option # 1: Option # 2: Cool Beans McDonald’s Starbucks Coffee Shop Evidence: More than 75 Evidence: Evidence: Factor A: coffee options Only a handful of 19 different Number of including dozens different flavors flavors Options of iced coffee and varieties flavors Factor B: Evidence: Evidence: Evidence: Comfort of Comfortable Wooden chairs Hard, plastic Seating leather couches with plush chairs and chairs cushioning.
  • 23. Market Mining Market Mining “ Lets You Leapfrog” SWOT Analysis
  • 24. Insight Mining “ Voice of the Customer” Tech Mining Benchmarking Insight Mining
  • 25. Insight Mining Insight Mining “ Voice of the Customer” Insight Definition A customer understanding that can be leveraged to persuade customers to purchase your product or service. Insights help you make meaningfully unique ideas from Voice of the Customer research.
  • 26. Insight Mining Insight Mining “ Voice of the Customer” Insight Mining – 2 Step Process Step 1: Mine for STIMULUS. • Ask about & observe situation Step 2: and about possible IDEAS and Opportunities
  • 27. Insight Mining Insight Mining “ Voice of the Customer” The Four SIMPLE QUESTIONS 2.“What do you like about _______ ? - What else... What else... What else... 3.“What do you dislike about _______ ? - What else... What else... What else... 4.“What would be such a wow that you’d be willing to pay more money for it if it was available?” 5.“If you could wave a magic wand what would you wish for other than a lower price?”
  • 28. Once you’ve used stimulus mining to fill your brain with information… • Use what you have learned to help you generate ideas using the creativity tools. Future Tech Market Insight Out of the Box Industrial Strength Linear Classic
  • 29. Stimulus Mining + Inventing Tools = Eureka! Ideas
  • 30. I have an idea, now what? 1. Address a Problem or Opportunity 2. Make an Overt Benefit Promise 3. Provide Real Reason to Believe Proof …To successfully articulate the Meaningful Uniqueness of a dramatically different idea.
  • 31. Making the Overt Benefit Promise: It’s not boasting if you can deliver!
  • 32. You Must Answer: Customer: “Which of my problems are you solving?” Customer: “Why should I care?” Customer: “Why should I believe you?” Customer: “This is meaningfully unique!”
  • 33. By the end of this course you will be able to assess the meaningful uniqueness of an idea or product, having learned to articulate: 1. The Problem solved, 2. The Promise made, 3. And the Proof provided.
  • 34. Take a few minutes to reflect: What did you learn?
  • 35. Take a Break! Click to start 20 minute timer. www.A6training.co.uk End
  • 36. Week 1 1.9.2012 Part 2 INV 282: Problem, Promise, Proof “To give you the tools and confidence to communicate meaningfully unique ideas”
  • 37. Agenda:  “Make it Stick” through writing  Addressing Problems & Opportunities  Making an Overt Benefit Promise  Providing Real Reason to Believe Proof
  • 38. Use Writing to “Make it Stick” How come you remember some pieces of writing and forget others? “The Kidney Heist” urban legend VS. An article published on safe surgical access routes for kidney extraction Click to start 5 minute timer. www.A6training.co.uk
  • 39. Clarity is key! If you can’t clearly articulate your idea in writing then you have virtually NO CHANCE of success. Source: American Marketing Association
  • 40. Writing that sticks makes its readers care.
  • 41. Persuasive writing is the catalyst for consumer action. The most successful writing will always: • Address a problem or opportunity • Make a promise to an intended audience • Provide credibility to the promise by providing proof Therefore, successful writing will explicitly tell you how meaningfully unique a product is.
  • 42. The Innovation Engineering System for Making it Stick: 1. Relative PROBLEM 2. Overt Benefit PROMISE 3. Real Reason to Believe PROOF 3 Ps = Meaningfully Unique
  • 44. PROBLEM • Always relative to target audience • Can also be an opportunity An innovator is always aware of the problem or opportunity they are addressing during the creation process. The key is the innovator’s ability to articulate it so that other’s can identify it as well.
  • 45. 3 Types of Problems Complaints Frustrations Wishes
  • 47. Overt Benefit PROMISE You TRIPLE the effectiveness of your marketing efforts by OVERTLY communicating your customer benefit Probability of Success Low Overt Benefit 13% Medium Overt Benefit 26% High Overt Benefit 38%
  • 49. Overt Benefit PROMISE • Always offers something to the intended audience – Answers the questions • “What’s in it for me?” • “Why should I care?” “Because our product will make you faster, smarter, sexier…”
  • 50. Benefits are “What’s In it for the Customer” What they will Receive, Enjoy, Experience In exchange for their Time, Trouble, Trust and Money
  • 51. Overt Benefit PROMISE: The Axe Effect
  • 52. 3. Proof “Why should I believe you?”
  • 53. Real Reason to Believe PROOF You DOUBLE your odds of success when you communicate a REAL REASON TO BELIEVE that your OVERT BENEFIT will be delivered. Real Reason To Believe Probability of Success Low Real Reason to Believe 18% Medium Real Reason to Believe 29% High Real Reason to Believe 42%
  • 54. Reason to Believe is Relative to the Benefit Promise Target Reason to Audience Benefit Believe PROBLEM PROMISE PROOF “who” “what” “how”
  • 55. How do you do it?
  • 56. It’s Simple BE REAL Tell the TRUTH & do what you promise.
  • 57. Real Reason to Believe GOLD Tell the truth about how you can accomplish what others can’t. SILVER Provide secondary proof - Testimonials - Demonstration - Test Results - Guarantee BRONZE Provide your personal Pedigree / Experience / Resume
  • 58. Let’s Practice Imagine / Make Up PROOF Benefit We can promise this because... PROMISE More reliable auto repair Example: …our customer break down 50% service than other drivers Example: …we make our pizza in the van Fastest pizza delivery on the way to your house Example: …we’re the only dry cleaner who The convenient dry will pick up and drop off your dry cleaning cleaner in town. at your door. THINK
  • 59.
  • 60. Take a few minutes to reflect: What did you learn?

Editor's Notes

  1. Innovation Engineering is about a taking Whole Brained Approach. Focused on the Hermon Brain Dominance Instrument, the brain is split into four quadrants: analytical, organizational, personal, and strategical. The creativity tools that are used fall into each of these four categories.
  2. At the very core of the Innovation Engineering curriculum is the Eureka! Equation. Meaningfully unique ideas equal stimulus to the power of diversity divided by fear. In other words, the more stimulus, more diversity, and less fear yield the greatest number of meaningfully unique ideas. In order to generate meaningfully unique ideas, you must explore stimulus, leverage diversity, and drive out fear. Note how important the diversity piece of this equation is. It exponentially increases your ability to explore stimulus. Therefore, every idea, not matter how different, is an important one.
  3. Meaningfully unique ideas offer a solution to a problem where a better, more efficient solution doesn’t already exist. An example of a meaningfully unique innovation would be the mp3 player. Before the mp3 player, there was the portable cd player. The problem was that it had limited storage and reliability issues (skipping cds). The mp3 player offered vast increases in storage and reliability over everything else on the market.
  4. The bottom line is that when meaningfully unqiue, customers are willing to pay more money for your product, your service, or you as an employee.
  5. They don’t just power out of your head. The come from a systematic approach. Each time you generate ideas, you start with a task, mine for stimulus, then generate and multiply ideas using the creativity tools.
  6. Once you identify your specific task, you look for stimulus. The purpose of stimulus to help you fill your brain with information and knowledge on the given/related topics and subjects. There are four types of mining that correspond with the HBDI model: tech, market, insight, and future.
  7. In no particular order, the first type of mining is future mining. Future mining is about analyzing the present to anticipate the future.
  8. As you future mine, you should be analyzing four key areas: mega trends, industry momentum, lead users, the arts and artists. When trying to determine mega trends, you should be looking at general shifts in thinking (an example of this would be cell phone use in the classroom. The shift is that more and more students are finding it acceptable to have and use their phones during class. Where could this new trend lead?) In mining industry momentum, you should be looking at what industry veterans, experts, and observers have to say. Lead users are another key area to focus on when future mining. “Lead users will face the same needs as will the marketplace but months to years before the marketplace does.” Last, look to the arts. For centuries artists have been stretching the mind to see what is and what could be.
  9. Future mining is most often conducted through two sources: the internet and other people.
  10. The next form of mining is tech mining. Tech mining is really all about finding “treasure” through open innovation.
  11. Open innovation is about using what is already out there. To do so with tech mining, one should be focusing on: innovation mining to discover raw inventions, refined technologies, and real products; wisdom mining to find research discoveries and market knowledge; and collaboration mining to find inventors and/or suppliers who could help.
  12. In order to be successful when tech mining, it is helpful to remember a couple hints for success. First and foremost, you need to be open to getting lucky. Second, don’t be afraid to do some deconstruction – ask yourself, how could I simply this task? Third, combine parts to create new ideas. It’s okay to take a piece of this and a piece of that. Last, follow the leaders whether it is the people, patents, technologies, or organizations you find.
  13. Next is market mining. Market mining lets you leapfrog the competition.
  14. At the heart of market mining is benchmarking. Initially benchmarking was developed as a way for cobblers to measure shoes. They’d put a shoe up on the bench and make a hash mark where the right size should be. Later it became a way to determine a point of land for comparison. Now we are using it as a way to identify industry standards, best practices, and opportunities to go beyond the competition.
  15. There are three steps to creating a Marketplace Matrix. Step 1: Deconstruction is about identifying the alternatives to your offering. Step 2: Investigation is about gathering the perceptions & facts regarding the differences of the offering. Step 3: Identify Opportunities is about analyzing the information gathered during investigation to determine the strengths that can be leveraged and the weaknesses that can be addressed.
  16. At the heart of market mining is benchmarking. Initially benchmarking was developed as a way for cobblers to measure shoes. They’d put a shoe up on the bench and make a hash mark where the right size should be. Later it became a way to determine a point of land for comparison. Now we are using it as a way to identify industry standards, best practices, and opportunities to go beyond the competition.
  17. Last, and the main focus on our class today, is Insight Mining. It its most basic level, insight mining is about finding the voice of the customer.
  18. To simply define insight, it is a customer understanding that can be leveraged to persuade customers to purchase your product or service. The bottom line that that insights are how to make money from Voice of the Customer research.
  19. Insight mining is really about the 2 step process. Step 1: Ask the customer what they want as part of your stimulus mining. Step 2: Stop and think about possible ideas and opportunities.
  20. In order to conduct this two step process, you’ll need to ask the four simple insight mining questions. What do you like about ____? What do you dislike about ____? What would be such a wow that you’d be willing to pay more money for it if it was available? If you could wave a magic wand, what would you wish for other than a lower price? The reason we use these question is because they are designed so that the customer isn’t led into stating something that you, the questioner, wants to hear.
  21. This “kite” shows the Innovation Engineering creation process where you start in the middle with mining and work your way out to using the tools. Note that just because you do mining from one quadrant, that doesn’t mean that you are required to use the tools from the quadrant as well. It is perfectly acceptable to do Insight Mining from the red quadrant and use TRIZ from the blue quadrant.
  22. So just because you gathered some stimulus and used the tools to come up with an idea, the success of your idea isn’t guaranteed. Customers (your target audience) are not going to believe the claims you’ll make if you can’t successfully communicate what your meaningfully unique idea or product is. The only way to do so is to identify and solve a problem, make an overt benefit promise, provide real reason to believe proof. If you do these three things, you will have successfully articulated what makes your idea meaningfully unique.
  23. It may feel awkward at first to make such a bold overt benefit promise, but the truth is that you’re not boasting if you can deliver.
  24. For your customer, you must be able to answer three key questions: Which of my problems are you solving? Why should I care? Why should I believe you? If you can provide your customer with answers to each of these questions, they will be able to see the dramatic difference that makes your product meaningfully unique.
  25. Take a few minutes to reflect on what you learned.
  26. The urban legend sticks because it is interesting. The academic article is too “scientific” to command enough interest from its readers for them to take action (remember it).
  27. Readers can’t care if don’t fully understand.
  28. It’s all about making the customers care and getting them to truly listen. The urban legend is successful because it is real enough that “it could happen to you” (“a friend of a friend”). Once the customer cares, it is more likely that a piece of writing will be able to persuade them to action. What are some of the elements
  29. An overt benefit promise is so effective because it solves problems.
  30. Clear overt benefit promise… but something is missing… Why should anyone believe Axe will get them more women? This lack brings us to the last piece… Proof!