A leading consumer packaged goods (CPG) company’s sales were plateauing and they needed to activate their customers in new ways.
How will real-time sensors affect the way fleet drivers operate their trucks?
The needs of their market began to change rapidly. So this 79-year-old elder health provider asked Peer Insight to "Help us innovate three times faster."
Much has been said about the disruptive potential held within artificial intelligence (and this is not a new debate). I’d love to focus less on the terminator-style disruption that some say will come with sentient machines and more on the presumably much closer at hand disruption from the rapidly broadening array of automated tasks. Rather than envisioning catastrophe scenarios, what opportunities are present in this new capability set?
Become an advocate for growth by adopting the VC mindset - ask strategic questions and defend prudent risk-taking rather than unintentionally stifling it
When dealing with no direct antecedents and a host of unknowns about customers, in a dynamic environment (i.e. “immature,” per the quote above), we are necessarily talking about behavior change — required of both consumers and providers of the new offering.
This is one of the most difficult challenges facing large enterprises. This process – the transition to scale- up – is a common failure mode for innovation. Why?
Many of the clients we work with face an all-too-familiar scenario: they’ve created a robust process for generating a number of high-potential opportunities to drive growth, yet the path to build those high-potential opportunities isn’t well paved. So what can be done to increase odds of success when it comes time to build out a high potential project?
Experimentation is an art. Here is a hierarchy of prototyping tools that we leverage for successful innovation.
As we help firms introduce new, breakthrough services and experiences, there comes a moment that can feel like the first day of school: Pricing.
In a world where information has an increasingly short shelf life, one thing even successful businesses need to consider is the idea of business model half-life. Just as a radioactive element loses its energy over a certain amount of time so too do business models, and it’s something all business leaders should consider.
The term business model is used loosely to describe how a business operates, but what is it as its simplest? Our CEO, Natalie Foley, breaks it down into simple terms and describes how a business model develops around a consumer need and evolves quickly through testing that de-risks concepts.
Whether you’re designing a breakthrough customer experience or innovating your business model, a design thinking sprint could be the place to start. Over the years, Peer Insight has perfected an approach that is a mash-up of classic design thinking tenants with startup sprint principles, allowing our clients to move from hoping to knowing in six weeks or less.
Sometimes our clients are used to making decisions on large quantitative studies and wonder how we can possibly gain the confidence we need to make decisions in the early stages of a new venture without one. Instead of focusing on increasing survey numbers to the point of being statistically significant, we focus on moving our research from measuring what people say to measuring what they actually do.
Thinking about a sprint? Everybody’s doing it. But if your goal is to develop a new service offering, a breakthrough customer experience, or an innovative business model – and if you work in a large enterprise – is a sprint realistic? You bet it is. But before you step in the blocks and anticipate the starter’s gun, take a look at our pre-sprint checklist.
I got to learn more about Peer Insight’s new corporate innovation practice, Peer Insight Ventures from Natalie Foley, Partner. Natalie talks about the “ego check” that exploring new opportunities requires and how we help our clients navigate the emotional and functional journey of bringing new services to market.
A necessary step in any consumer facing innovation is to run experiments in the market, with consumers or end users participating, and ideally paying...
I sat down with Kathi Hendrick, Venture Lead, to discuss Peer Insight’s new corporate innovation practice, Peer Insight Ventures. Kathi shares her experience designing and testing new service experiences and their business models.
“When all is said and done, a lot more gets said than gets done.”
Too true, right? And more to the point, this statement reveals an important challenge for innovators: What people Say, especially about their behavior in the future, is a poor predictor of what they Do. Here’s what you can do about it.
It’s very un-PC to say there are dumb questions. Would you feel better if I said “unskillful?” When we’re going to spend weeks, months, maybe even millions exploring a question, I feel strongly that we take some time to get the question right. Here’s how.
Is your organization grappling with a messy challenge and reluctant to talk to real customers about how to solve it? Think design thinking can help? Here’s a rough guide to follow to convince your stakeholders to adopt a design-driven approach.
Peer Insight has been teaching an innovation curriculum to Georgetown and ASU’s Academy for Innovative Higher Education Leadership and at our last class a professor from Stanford’s Engineering Department asked a great question, “How does the Design Thinking approach compare to that of Engineering?”
Today we see 5 main avenues to growth. This article will help you choose which are right for your organization depending on your goals. I’ll advocate for a risk-optimized approach that’s ideal for achieving breakthrough growth in line with a short list of organizational characteristics.
Our republic has lasted 240 years, thanks in no small part to our veterans. After trading their uniforms for civilian clothes, many veterans are finding themselves on the front lines of a new challenge – as startup founders – contributing to an entrepreneurial renaissance
We frequently help clients discover a creative or innovative solution to a complex challenge that has been nagging them. To do innovation work, we have to open ourselves up to possibility, just like a kid who sees a wand instead of a stick.
Walking the talk: how we use our innovation methods on ourselves