INNOVATION
"It is not the strongest of the species that survives, nor the most intelligent, but rather the one most adaptable to change" (Charles Darwin). A company that does not constantly renew itself ages faster than ever these days.
Innovation only creates growth if it noticeably increases the benefit as perceived by the customer. So it's not about turning everything that's technically possible into reality, it's about understanding exactly which changes hold the highest value from the customer's perspective – which ones deliver the greatest added benefit.
An extensive KEYLENS study dating from 2006 demonstrates that innovation capability is a key success factor in branding. Successful brands such as Apple, Zara, Amazon, Siemens, Procter & Gamble, Dell, and Allianz invest more in R&D and generate a higher share of their revenues with new products. Besides product innovation, service innovation is a particularly relevant aspect. These brands also have higher innovation scores when it comes to communication, pricing policy, and sales. So by implication, the focus is not on product innovation alone, but on customer-centric innovations throughout the entire business process. And not in isolated instances but continually in the context of a process to permanently enhance customer benefits as a driver of growth.
KEYLENS supports companies in a wide range of industries in exploiting the growth potential linked with successful innovations throughout the entire business process.
Some of the aspects our consultancy focuses on:
- Innovation screening throughout the entire business process
- Generating customer insights as a foundation for innovation
- Developing customer-centric innovations in product/assortment, pricing, communication, service, and sales
- Implementing innovation processes
- Creating a culture of change
SELECTED KEYLENS PROJECT EXAMPLES
Department store company
DEPARTMENT STORE COMPANY
Issue:
Innovation screening in the business divisions
Objective:
Increasing innovation power in the individual product lines (clothing, accessories, consumer electronics, etc.)
Results:
- We developed an individual screening method
- Reviewed all product lines on the basis of international best practices
- Determined the innovation potential in each product line
- Formulated implementation plans, with responsibilities and timings
KEYLENS success levers:
Combining the international best practice perspective with an in-depth understanding of target group needs
Energy service provider
ENERGY SERVICE PROVIDER
Issue:
New product development process
Objective:
Installing a new process for the systematic development and establishment of successful market innovations
Results:
- We put a process in place with clear responsibilities (incl. stop/go decisions)
- Linked it with other core processes
- Supported the pilot phase
- Embedded it in the process landscape
KEYLENS success levers:
Intensive involvement of all stakeholders, incl. piloting a concrete product innovation
