For at least the last 56 years 75% - 80% of innovations failed. Most failed 18 - 24 months after their introduction because sales and profits did not justify continuing to sell the product.
The primary reason innovations fail is they are not better enough than their direct/indirect competition to get competitive users to switch to the innovative product. Innovators consistently underestimate how very, very difficult it is to get competitive customers to switch. This is especially true for loyal core competitive users who often represent 80% of competitive volume.
Switching enough competitive users to succeed requires that innovations deliver HIGHLY MEANINGFUL BENEFITS that add up to being DRAMATICALLY BETTER than competitors.
Innovate2Grow Experts is the only innovation consultancy using the eight most proven innovation best practices. When used by our team of experts that have led more innovation projects than any other company in America in collaboration with your team, we consistently deliver DRAMATICALLY BETTER INNOVATION RESULTS IN 90 DAYS OR LESS. GUARANTEED.
How We Help Achieve Dramatically Better Results
SOLVE MAJOR INNOVATION NEEDS: Develop Solutions that Are Dramatically Better Than Competition
IMPROVE EXISTING IDEAS: Make Them Dramatically Better Than Competition.
EVALUATE IDEAS: Use Merwyn Technology to Assess Chances of Success and Year One Sales
EXPERTISE: Find and Vet World Class Experts to Create Successful Innovations.
DEVELOP AND GO TO MARKET: Innovation Does Not Stop With the Idea—External Expertise Brings Continuous Breakthrough Thinking