The Human Side of Product Innovation
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Discover how authentic, ongoing customer insight helps DEWALT and Chico’s create and sell better products. Watch the on-demand webinar: http://ow.ly/ebmw30055J9
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The Human Side of Product Innovation
- 1. The human side of product innovation: How authentic, ongoing customer insight helps DEWALT and Chico’s create and sell better products. #BetterProductsFaster
- 2. Heather Foeh VP, Customer Marketing & Advocacy Vision Critical
- 4. MARKET KNOWLEDGE Missing opportunities by operating with out-of-date information IDEA SCREENING Investing in the wrong products and features PRODUCT BUILDING Relying on market/customer feedback that’s too slow or unusable POST-LAUNCH Taking too long to diagnose and triage issues GO-TO-MARKET Depending on “gut instinct” rather than data-backed decisions
- 6. Find the best investment opportunities Select products with the most potential Get on-demand and agile customer feedback Reduce response time to unforeseen sales problems
- 8. Shannon Chenoweth Market Research Manager Stanley Black & Decker Inc. DEWALT
- 9. DEWALT INSIGHTS PANEL + • Community size: 10,000+ • Highly-engaged, qualified participants • 170,000+ survey completes • A robust normative database for benchmark
- 15. Introducing two new products Pricing and product landscape Actionable design feedback
- 16. Ivy Boehm Senior Director, Consumer Insights Chico’s FAS
- 17. CHAT WITH CHICO’S + • Community size: 14,000+ • Created in 2008 • Well segmented membership • Every customer on the panel is in the company’s database • Chico’s FAS has three communities and 45,000+ members
- 24. Keeping customers first Designing on-trend Ready access to customers
- 25. Create a “Customer First” design team Engage the right people at the right time Embrace new ideas and be willing to pivot
- 27. Explore the world’s premier customer intelligence platform now. DECIPHER YOUR MARKETING TECHNOLOGY STACK MARKETING TECHNOLOGY EBOOK VISIONCRITICAL.COM/RESOURCES Ivy Boehm Senior Director, Consumer Insights Chico’s FAS Shannon Chenoweth Market Research Manager Stanley Black & Decker Inc. DEWALT WATCH THE RECORDING OF THIS WEBINAR visioncritical.com/demo
Editor's Notes
- You’re going to have the opportunity to hear from two very different brands who both innovate in a similar way: by listening to their customers to transform the way they design, develop and go to market with products that their customers want and most importantly, buy.
- Every decade brings a major revolution in how technology transforms business, from industrial manufacturing, globalization, information and now the Customer. Technology — the Internet, social media, mobile devices – has empowered your customers, providing them access to more information, more choices and more opportunities to broadcast their opinions, widely and loudly, than ever before. Forrester calls it the “Age of the Customer.” The power shift is enormous. We all know the impact a flare up on social media can have on your brand – One angry customer can impact your business in ways nobody could have imagined just a few years ago. We’ve all heard the nightmare stories. We all know what’s at stake here. But what we must remember is that this is not adversarial – your customers are not out to get you. In fact quite the opposite. All this technology, connectivity, data and information gives you access to more ideas and greater inspiration. Today, a single powerful idea can disrupt an entire industry. No business is immune, but by the same token, no business is excluded from the chance to redefine their industry with the right insight, from the right people at the right time. We are in an age when customers can tell you a story that inspires a new product, a great campaign and outstanding customer experience. The heart of really taking advantage of that opportunity requires a deep understand of customers and how customer expectations have changed.
- You may be using Big Data to provide guidance in your continuous cycle of innovation. You’ve got transactional data collected with every swipe of a credit card. You’ve got access to social media analytics. You regularly track NPS and CSAT scores. The problem is that big data might be able to quantify human behavior, but it can’t explain its motivations. That is to say, it cannot arrive at a “why.”
- In that cycle of innovation, your customers are the golden thread that can help you uncover the best opportunities. They can help you narrow down the most viable options and then give you feedback along the way during the development process. And finally, you can uncover potential problems early by monitoring your customers’ reactions.
- The only way to truly connect with you customers is to redefine your relationship with customers and recognize them as people, not data-points. And that process begins by engaging your customers in a regular ongoing conversation that deepen and improve over time. A conversation that goes both directions. The human side of innovation is the most important one. The people that are giving you feedback are the ones who are buying these products from you. They’re the heart of your business. We think this is so important that we’ve built our platform around it.