Minder why invest in a customer innovation presentation

Why Companies need to invest Why Companies need to invest Why Companies need to invest Why Companies need to invest in Customer Innovation in Customer Innovation in Customer Innovation in Customer Innovation Management Management Management Management Platform?Platform?Platform?Platform?

All Images Copyright © 2012

FreeDigitalphotos. All rights reserved

The Innovation Minder CompanyJuvignac, France

e-mail : [email protected]

http://www.innovation-minder.com

In order to sustain innovation and sustain competitive advantage, companies need to :

• Avoid long Time-to-Market & delays cash generation

• Shorten product life cycles and Time-to-Market Reduction

• Explore of new market segments to increase margins

As “Innovation and technology should be used to make services and products

available to consumers at the bottom of the pyramid,”

Ratan Tata, chairman, Tata group of companies

FactsFactsFactsFacts

Companies need to consider customers as a source of innovation

• Companies proactively address and engage users in innovation processes.

• The customer engagement is done via tools and methods which are based on

open innovation and co-creation concepts

When companies innovate, they need to tackle two major challenges for user innovation

(Piller 2009) :

- Find out what consumers want, i.e. gain need information.

- Find out how to realize a solution which answers that need, i.e. acquire solution

information

User innovation User innovation User innovation User innovation & co& co& co& co----creationcreationcreationcreation

One of the solution is using:

-Technological platforms supporting Crowdsourcing (externally sourcing tasks to an

outside group (crowd) to accelerate the NPD process )

- Crowdsourcing offers the opportunity to evaluate the best ideas and find new ways

of distribution and commercialization.

- Crowdsourcing have an easy way to acquire information attitudes and reasoning from users.

Benefits of crowdsourcing: Benefits of crowdsourcing: Benefits of crowdsourcing: Benefits of crowdsourcing:

• Faster time-to-market

• Improved cycle times

• Fewer Errors on forecast on next NPD

• Better product quality

• Decreased cost and risk of new product

introduction

• Insight into critical processes

• Improved design review and approval

processes

• Improved communication

• Reduced product cost and greater

profitability

InterpretedNeeds

Product Development

Challenge Brief

CustomerInteractions

Concept Development

Customer Innovation Customer Innovation Customer Innovation Customer Innovation Management Management Management Management PlatformPlatformPlatformPlatform

Why Invest on a CIM platform?• Managers thinks that a Customer innovation platform is expensive :

– When you compare to what NPD process cost and the risk that companies are

taking when they do not include the customer from the beginning.

– You will conclude on your own that the CIM platform is not expensive and is

worth the investment as it permit you to decrease your cost and reduce the risk

to market.

• Cost:

– Time of a dedicated team in charge of NPD development from concept

development to the launch on the market of the new product or service where

the estimated time is between 6 to 12month .

• Risk:

– when a dedicated team is working for one year, results from the market test are

not verified even when using focus groups etc.., and still a big risk that when you

launch the product you still have a risk to discover that the market is not

adopting your product .

Thus for all these reasons incorporating cost ( spent a lot of money on prototypes,

human resources, time compared to competitors etc..) and risk (your products and

services do not fit the need of your market segment)

Invest in an CIM platform

For all the previous reasons you need to invest in a CIM platform to incorporate your

customer from the beginning

Because it’s :

– supporting customer innovation effort

– Increasing ROI from new products and services

– Increasing the rate of innovation

– Efficiently capture new ideas, rapidly progress the best customer ideas

– Follow the customer ideas through an innovation funnel.

– Shortening time-to-value

– Decreasing development costs

Consequently that you will understand that the cost of a CIM platform is not

expensive compared to the cost and risk that companies bear during the

innovation process.

CIM Platform Pricing ListCIM Platform Pricing ListCIM Platform Pricing ListCIM Platform Pricing List

Start Up Package Professional Package Custom Package

Start Up Package Professional Package Custom Package

Number of Challenges

Timeline

Price

Participants Number

1 5 N

1 year 1 year N year

20 Euros/ User 15 Euros/ User To be defined

Min 500 Min 500 per challenge No limit

CIM CIM CIM CIM Platform Platform Platform Platform PackagesPackagesPackagesPackages

• Package Services

• A unique dedicated URL address for your challenge

• you can manage your own challenge by

o Inviting/accepting /rejecting and editing users

o Personalizing question during user registration

o Managing timeline of each phase

o Managing the incentive system ( points system)

o Managing decision making criteria

o Managing the product store

o Managing news

o Sending email to participants

• Security Layer

• Backup of Data

User services

• Edit its profile

• Participate in all phase of the challenge

(Challenge filter/idea screening/Concept review/

concept evaluation)

• Comment and evaluate on each phase

• Follow its statistics

• Follow news

• Buy a product

• Search

CIM Platform servicesCIM Platform servicesCIM Platform servicesCIM Platform services

Website:

http://www.innovation-minder.com

Princing :

http://www.innovation-minder.com/customerinnovationmanagement

Email:

[email protected]

Customer Innovation Customer Innovation Customer Innovation Customer Innovation Management Platform!!!Management Platform!!!Management Platform!!!Management Platform!!!