Effective innovation planning

WITHOUT AN EFFECTIVE PLAN FOR INNOVATION - SHORT OR LONG TERM - YOUR INNOVATION AMBITIONS WILL FALTER, YOU'LL STRUGGLE TO MAKE EFFECTIVE USE OF YOUR RESOURCES AND MISS OPPORTUNITIES.

We work with small and large organisations helping them innovate, and have picked up a few practical innovation planning tips along the way.

Check them out.

ALIGN YOUR INNOVATION GOALS WITH YOUR BUSINESS STRATEGY

Studies show that those companies who align their innovation efforts with the business goals are more productive than those who don't.

For instance, if you are in a turnaround or sustaining success situation, your innovation demands will vary considerably. One requires a business course correction; the other requires you to maintain the growth trajectory of the core business while also shifting focus to new areas. Consider how your business goals might impact your innovation strategy and focus areas.

THINK FRAMEWORKS AND PLATFORMS

You'll struggle to create the pipeline of ideas if you haven't got a clear strategy and framework. Too often it's easy to jump to ideation without clear priorities. Identify the strategic priorities - aligned to your business goals, then define the innovation platforms, which become your focus for a program of innovation over time. These platforms might be transformative, e.g. 'extend our offer into digital services', or strengthen the core business 'devise sustainable packaging solutions'. No one size approach fits all; identify the platforms that are right for your business.

Platforms also enable you to deliver a coherent multigenerational flow of new ideas over time, to achieve scale, synergies and impact.

CONSUMER 'JOBS-TO-BE-DONE'

With your platforms identified, now look at the opportunity through the lens of your prospective consumers. What problem are you solving for them? What aspects of the customer experience is lacking? How can you help them achieve their aims better? What are the 'must haves' for a successful design solution? Such questions identify surprising unmet needs - vital springboards for ideas. Don't short change the insight steps.

BREAK THE RULES

Don't be happy with a cut and paste of the typical playbook of innovation in your category - break the rules. Category norms constrain you. You'll struggle to identify unique solutions to customer needs, and your ideas will be unremarkable. Plan to use creative insight and inspiration gathering techniques to reframe the problem and spark innovative concepts that point you on a new trajectory.

DON'T GET DISTRACTED FROM YOUR CORE BUSINESS

Are you maintaining a flow of new news on the core business to keep it fresh and relevant?

It's easy to get diverted by shiny new ideas and lose sight of encroaching competitors who park their tanks on the lawns of your core business. Safeguard the core business with innovative initiatives that reframe benefits, and engage your customers at pivotal moments. Treat your core business with the same creativity and innovation intensity as you would a new platform.

RESOURCE THE FUTURE PIPELINE

Map out the necessary insight, design and prototyping steps to fuel a multigenerational pipeline of 'front end' concepts. You need to plan the required actions and identify the people, funding and resources to create a pipeline of ideas for your chosen focus areas. Understand the constraints, prioritise and work within them. Get commitment and support from your leadership team.

IDENTIFY CAPABILITY GAPS

Successful innovators continuously hone their skills. Recognise where the team have gaps in expertise. They may need to improve their insight hunting, rapid prototyping or co-creation skills. Perhaps the need is for enhanced agile collaboration between functions. Spot the gaps and put in actions to strengthen your performance and build these into your innovation plan.

COLLABORATE AND CO-CREATE

Innovation doesn't happen if you are working in functional silos. it’s a team game. As you plan, ensure different stakeholders (Marketing, Sales, Category, R&D, Design, Supply Chain, Finance, Customers, etc.) are connecting and collaborating. You'd be surprised how prevalent silo thinking is. You'll miss opportunities if people don't cooperate and co-create effectively.

Creative collaboration is crucial to unlock different perspectives and challenge assumptions

FORESIGHT

Your next major competitor or disruptive shift is likely to come from outside the category or from a startup.

Furthermore, digital transformation is changing the way consumers engage with brands, shop, and interact with services. Pause, step out of the daily firefight and factor in time to look at these broader trends and disruptors. Scenario plan and examine what actions you need to take to stay relevant.

HAVE STRETCH GOALS

No innovation plans survive the first contact with the consumer. You might exceed or fall below expectations. Anticipate various scenarios. Create a flexible and agile plan that allows you to accelerate back up plans if sales exceed or fall behind the forecast. This proactivity ensures you will be responsive to changing market dynamics as they unfold and adapt quickly.

Are you planning your innovation effectively?