The Secret To Innovation Effectiveness Is…

October 10, 2007 · Filed Under Brand, Branding, Business, Business Model, Creativity, Customer Experience, Innovation 

Buried in this Fast Company article on design wunderkind Fuseproject is this intensely interesting factoid:

A three-year study of more than 40 Fortune 500 companies by the research firm Peer Insight found that companies focused on customer-experience design outperformed the S&P 500 by a 10-to-1 margin from 2000 to 2005.

Substitute the phrase ‘customer-experience innovation‘ and we’ve got further validation of the Doblin model of innovation effectiveness. Customer experience is one of the five areas Doblin recommends you concentrate innovation - the other four being business model, enabling processes, networking, and branding.

This is a prime reason why design companies like Fuseproject and IDEO are highly valued by industry - they provide a specialized expertise in customer experience innovation. Tom Kelley discusses this in his book Ten Faces of Innovation. This should raise the question - if customer experience is so important, why don’t more companies hire people adept at connecting with customers at this level? Probably because it seems more an art than a science - as Kelley discusses, some people are attracted to this kind of innovation naturally. I’m thinking that there is probably some Myers-Briggs correlation - perhaps an xSFx orientation.

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4 Responses to “The Secret To Innovation Effectiveness Is…”

  1. Hannah Montana, Radiohead, Virginia Tech, My Band, and the New Music Business Model « Open Source Innovation on October 17th, 2007 11:26 pm

    [...] Posts The Golden Rule Is WRONG!!The Secret To Innovation Effectiveness Is…Whither Thou Goest, id Software?FCB GridArsenal7 Levels Of Change (Part 6 of 9) - Level 5: [...]

  2. Buffalo Wild Wings - Another Example of Innovation Effectiveness « Open Source Innovation on October 22nd, 2007 8:40 pm

    [...] kind of success story further illustrates the secret to innovation effectiveness. Focus your innovation on customer experience and the rest of the areas that make the most [...]

  3. Under Armour: Branding Juggernaut Pushes Customer Experience « Open Source Innovation on November 8th, 2007 11:23 pm

    [...] Armour knows the secret to innovation effectiveness - create a fantastic customer experience. How many retailers do you know who have been this [...]

  4. Do You Know If You Don’t Know What You Don’t Know? « Open Source Innovation on December 16th, 2007 2:58 am

    [...] Or that the customer’s experience, not the product itself, is the most important thing to consider?  Did you know that companies that focus on customer experience outperform the Standard and Poor index by a factor of 10? [...]

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