It is worth regularly reviewing your business model to consider different ways you can apply innovation and change to the ways you can improve on products, services and channels - ultimately meeting your customers needs and improving their experience. We offer 5 ways to help you create innovation in your business:-
1. Solve...
Empathise with customers to identify their problems, then devise innovative solutions. Focus on customer problems but also consider internal challenges faced by your business and its employees.
2. Simplify...
Analyse processes and identify points for simplification. Look at customer-facing and back-end operational processes for areas where simplification can improve the customer experience or increase operational efficiencies. Try to simplify supply chains.
3. Differentiate...
Identify points of difference between your business and its competitors. Build on positive points of differentiation. Tackle negative points of difference to increase customer value and business competitiveness.
4. Change...
Identify elements of existing products or services which fail to meet customer needs or are deficient relative to competitor offerings. Focus on ideas that change products or services in ways that create customer value.
5. Create...
Look for unmet or under-served customer needs and create new product or service offerings in spaces where you can deliver customer value.
Access strategic help and support to help you grow
Our innovation specialists will help you identify barriers to innovation and growth, and help you enhance your innovation capabilities to achieve business growth. Visit www.innovate2succeed.co.uk
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