How executives can save time, nerves and money

How executives can save time, nerves and money

We recently had the opportunity to present deeptrue to the executive management of a large company and to test with 120 People a product concept of this company in a live demonstration. The test started at 10:20 am. After just two hours, at 12:30 pm, the results and the reporting were available.

In the course of discussing the results, the CEO summed up what had happened something like this: We have been discussing this concept for a long time, have spent many hours on it with corresponding internal costs, and now, within two hours – while we were at lunch and for less than 3,000 francs, we receive clear and valid results from our customers and recommendations on how to proceed with the concept in the future, so that we can quickly go into implementation.

This is how market research works when you use deeptrue.com. Give it a try and test deeptrue best while you are at lunch.

Drive through the stages of innovation

Drive through the stages of innovation

Innovations turn ideas into valuable goods or services. In a company, innovation plays a significant role. We must look different and attractive to our target market and customers in all the competition. ‘Innovation’ refers to a new quality of goods, production method, source of the application, etc. Innovation is the process of actualizing an idea into a successful concept, but unfortunately, some organizations fail to implement their innovative ideas effectively.

There are three main stages of innovation that you must follow. In the end, a company that follows all the steps of innovation wins!

The three stages are:

  1. Validation – Gather ideas and learn through small consumer tests to make faster decisions
  2. Proof of concept – Check the viability of the idea
  3. Implementation – Give your concept a practical form
It can be challenging to drive your ideas through this process, but don’t worry! This article is going to help you with that.
From idea to validation:

You are creative. You have so many ideas. But the question is, how will you make these ideas beneficial for you? How are these ideas going to help you? Which is the most promising idea?

So here’s the first step, i.e., VALIDATION, which will answer all your initial questions.

It does not matter what innovative idea you have in your mind, whether it’s for your product/services or the innovation of your working method. You just have to keep in mind that the idea should be attractive. For Example, the Nike fuel band couldn’t make it on the market. The product was not a necessity for people. Nike decided to exit from that business and stick to whatever they do best.

It generates the following questions:

  1. Who is your customer, and what does he/she want from you?
  2. How can your idea help solve the particular problem people are having?

You cannot get the exact answers, but you can assume the answers, make the hypothesis, and start working on them. The procedure should be really quick because the customer doesn’t wait much. On deeptrue, you can find tools for this.

From validation to proof of concept:

Once you pass through the first step, i.e., validation, you have a clear mind about what you want and your desired track to work on further. Validation gives you the idea’s value, but the second step tells you that the idea is viable. You can call it a simple version of the desired final results. You just have to prove that your idea is capable of getting success. For Example, NASA is trying to invent the time machine. But it hasn’t yet been proved that it is even possible.

So it is not about being correct all the time; innovation also includes accepting failure. Moving on to the last and the most crucial step:

From proof of concept to implementation:

Reaching the final step means you have surpassed the two complex first steps, so congratulations. Let the idea’s implementation be in your hands with the same passion you had for the first two steps. Your idea is brilliant; you just have to trust yourself and the innovative ideas and implement them. Let the world see!

At this point, you have proved that someone would want that idea, and your goals can be achieved.

Validate your ideas with deeptrue

Despite the importance of innovations in today’s business world, many businesses struggle to bring their ideas to life. To ensure that your ideas are successful, it is vital to follow the stages of innovation. That is where deeptrue can give you support. deeptrue is a self-service platform with ready-to-use tools for idea validation, concept testing, communication testing, website testing, and more that provides fast and cost-effective insights from consumers worldwide at the push of a button. With deeptrue, you can quickly validate and prove your idea or concept to implement your ideas to drive innovation in your organization.

Does your organization need help driving innovation?

Many organizations struggle with innovation. They want to be agile and respond quickly to the ever-changing needs of their customers, but they also need to maintain a certain degree of stability and control. As a result, they often find themselves caught between two competing extremes. On the one hand, they need to be open to new ideas and ways of doing things.

On the other hand, they need systems and processes to ensure those new ideas are adequately vetted and implemented. If your organization struggles to strike the right balance, deeptrue can help. deeptrue is ideal for fast, low-cost consumer testing of your innovations, bringing stability and control as you drive innovation. Create a free account to get started.

How do you drive innovation in your organization?

There is no one-size-fits-all answer to this question. Every organization is different, and what works for one might not work for another. However, some general principles can help you foster a culture of innovation in your organization.

Some of the things you can do to drive innovation in your organization include:

  • Encourage creativity and out-of-the-box thinking
  • Create opportunities for employees to share their ideas
  • Encourage risk-taking and experimentation
  • Make innovation a part of your organizational culture

What are some common barriers to innovation?

Many factors can impede innovation in an organization. Some of the most common barriers include:

  • Lack of creativity and out-of-the-box thinking
  • Rigid hierarchical structure
  • Lack of opportunity to share ideas (internally or with consumers)
  • Fear of failure
  • Inertia

So, these are some critical points you should keep in mind while driving innovation in your company. Innovation is very important for the growth of any organization. It helps you stay ahead of competitors and maintain a leadership position in your industry.

Conclusion

To become an innovation leader, you must understand that a culture of failure and uncertainty is an inevitable part of the process. But it does not have to be. You can build a culture of innovation that values diversity. Create an account today to empower your team to become an innovation leader in your organization.

Consumer surveys – expensive and overfull?

Consumer surveys – expensive and overfull?

A few weeks ago, I heard a top executive say:

“Our data is enough for us; we analyze what we sell and can act accordingly. In practice, we no longer do contract research with customers (today called customer insights). It’s all too slow, time-consuming, and expensive …”.

Data analytics are trending. That’s right. Many analyses and deductions can be drawn from data. That’s also true. But – are data analyses alone sufficient, as is currently increasingly being colocated by some people in management?

Contract research is not cheap, as it is exclusively set up, and you always have to get in touch with “real people” through the survey approach. This costs time as well as money. But what does some management do today if they want to know why consumers buy and how the markets perceive their specific ideas?

I can tell you: trial and error. First, develop and launch, then market demand will provide the insight. And if it doesn’t work, you just try a different, modified product.

Consumer Insights: Limits of the knowledge gain

Consumer Insights: Limits of the knowledge gain

Research results are generally expected to generate new and surprising insights. Findings, in other words, show the responsible persons’ concrete paths for future success. This is sometimes the case – but by no means the rule. And: consumer surveys have their limits.

Consumer surveys are a helpful tool for understanding people and anticipating their possible actions. Consumers rarely think about how to develop a new advertisement for a product or the emotional charge of their brand. Clients who expect consumers to come up with solutions to management challenges will be disappointed in most cases.

Not infrequently, such expectations then lead to sentences such as … “we already knew that…” or “…is that all?…” when discussing the results: I have heard these statements more than once in recent years when talking about the contribution of research studies to the challenges of marketing management.

What is wrong with a responsible marketing manager receiving feedback that he is up-to-date and knowledgeable about his customers or markets?

I consider this case an achievement for the management. If a research project does not reveal anything surprising and “only” supports existing hypotheses, that confirms that management has done its job p
properly.

Consumers are good at mercilessly tearing apart their clients’ ideas, concepts, and planned measures. That hurts, especially when you are there live during such discussions and your convictions and work, for which you have toiled for weeks, come under scrutiny. But precisely, these experiences provide the necessary insight that ensures optimization in implementation.

And the demand for new knowledge? I don’t know of a single research project in which there were not at least three or four target-oriented insights that could be used for improved market cultivation or optimized products. The outside view can help us understand what drives “them out there.” This is especially true if, as a marketing manager, you have to convince your superiors and colleagues internally and gain knowledge.

How to prevent flops with concept testing

How to prevent flops with concept testing

Product managers are constantly receiving requests to improve products. But it is not only minor optimizations, where a few adjusting screws are turned, that must be taken into account; competition also forces companies to constantly develop and implement new product ideas.

It is not trivial to decide which inquiries to take up and which idea to invest in. This is further complicated because 95% of all product launches fail. With only 5% successful product launches, it is therefore even more critical to ensure that as many aspects of the product as possible are considered during its launch.

Concept testing as a fast, straightforward ‘best practice’ solution
How can you overcome so many challenges in such a short time? With concept testing! Concept testing is a research method in which consumers answer questions about concepts and ideas for a product or service before it is introduced. This allows you to measure your customers’ acceptance and willingness to buy and thus make critical decisions before launch.

When you are convinced of an innovation, you assume every new feature or product idea will succeed. However, as the numbers show, this is rarely the case. Only customers can decide whether an idea will succeed or crash. For this reason, it is essential to test ideas and concepts before introducing them to the market. The knowledge gained through concept testing helps to bring successful products to market.

Concept testing can generate insights into various aspects of an idea. Questions can be asked about a specific function, appearance, pricing, and more. This way, the fit with customer needs can be ensured for each element before launching the product.

Always keeping customers in mind
To stay in touch with customers’ needs, survey tools are available for all critical process steps in an innovation project, i.e., from the review of ideas and the testing of essential elements before market launch to customer satisfaction measurement, and are designed differently adapted to each question. Ready to use. You then «only» need to know which questions you want to be answered. And for this, there are now platforms where such concept tests can be prepared and immediately used even by those without experience in survey research.

deeptrue makes it possible to test ideas and concepts before a product is launched.

The product market fit can be determined, and the product can be adapted according to customer needs before the market launch.