Return on Ideas: A Practical Guide to Making Innovation Pay / Edition 1

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Overview

Innovation is the growth engine of our age, quoted by CEOs the world over as the route to success in the marketplace. but the process of innovation is taking longer and costing more than ever before...

Return on Ideas is a practical guide to getting more ban for your buck from your innovation process. The book reveals why the innovation funnel, the preferred methodology in large branded companies, is in fact stifling new ideas. A new methodology, Rocketing, is laid out that shows how business managers can get more from all the resources and effort they put into generating innovation. It is illustrated in the practical brand gym style with examples from companies like Vodafone, unilever, P&G, Apple, Yo! Sushi, American Express, Danone, Ben & Jerry's and others. Without extolling you to become a business rebel, it will show you how to get more, higher quality ideas, for less.

'This book is a brilliant reminder that innovation comes from a mix of romance and common sense, stirred up with a good deal of positive energy from the product itself. Too many risky or badly thought through ideas end up being launched and David Nichols gives pragmatic approaches to increasing your chances of success. It's fresh, amusing and lays out the kind of innovation process I would prefer to follow any day.' - Matt Adams, Global Marketing Manager, Pernod Ricard Wines

'Innovation is at the top of so many brands' agendas, but success rates suggest that there's plenty of room for improvement. David Nichols has written a thought provoking and practical book on how to get more out of innovation. It's pragmatic style and frequent examples make it something that I would encourage marketers to have with them to dip into for inspiration whenever they are undertaking an innovation project.' - David Wheldon, Global Director of Marketing, Vodafone

'The innovation funnel has become the standard "best practice" tool for innovation today, so why are there so few real breakthroughs? David Nichols provides some answers with practical solutions in this easy to use book to help you release your organisation's true innovation capability to grow.' - Alan Martin, Chief Marketing Officer, Fayrouz International

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Product Details

  • ISBN-13: 9780470028575
  • Publisher: Wiley
  • Publication date: 6/11/2007
  • Edition number: 1
  • Pages: 280
  • Product dimensions: 7.76 (w) x 9.61 (h) x 0.94 (d)

Meet the Author

David Nichols is a marketing coach who “makes us feel like we can achieve everything we want” according to one of his global brand director clients. He teamed up with David Taylor in 2006 to become a Managing Partner of the brandgym, a consultancy that coaches teams to create a clear brand vision and the action plan to turn this into growth. He has led brand vision and innovation projects for many global companies and brands including Castrol, Vodafone, Unilever and Cadburys.
David is the author of “Brands & Gaming: The computer gaming phenomenon and its impact on brands and business” published by Palgrave Macmillan in 2005, cataloguing the rise and rise of a new global cultural phenomenon that is going to change the marketing landscape forever.
He started his career at OC&C Strategy consultants, moving on to the marketing consultancy Added Value where he spent 11 years rising to be Managing Director of the UK, including stints in Paris and as MD in Australia.
David has written and produced three full scale musicals and managed a professional improv troupe, The Impro Musical, working with Tony Slattery, Eddie Izzard and Greg Proops.
He has a first class degree in Aerospace Engineering from Bristol University and in his spare time is an aerobatic pilot.
Contact David at davidn@thebrandgym.com
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Table of Contents

About the Author xiii

Acknowledgements xv

1. This is getting us nowhere 1

What is the problem? The Funnel 1

2. How to navigate this book 5

Segmenting users 7

PART I: The Case Study 11

3. The Calippo Shots story 13

Headlines 13

The Ice Cream scene 14

Starting with a clear vision 15

Generate lots of high quality ideas 16

Quickly getting down to the best ideas 18

Building the best ideas into winning mixes 19

After launch 20

Key takeouts 20

Handover 21

PART II: The Challenge 23

4. Innovation isn't working 25

Headlines 25

Innovation's the thing 25

Innovation isn't 28

Funnels Don't Work 29

Ten ways funnels stifle innovation 32

A dizzying conclusion 46

Key takeouts 53

Checklist: Is innovation being stifled by your funnel? 53

Handover 54

PART III: The Core Idea 55

5. A new innovation paradigm: The Rocket Motor 57

Headlines 57

Innovation is, in fact, Rocket science 58

Key takeouts 66

Handover 67

6. Rocketing: Destination 69

Headlines 69

Being clear 69

Hamster-wheeling 73

Begin with the end in mind 74

Key takeouts 91

Checklist : Destination 91

Handover 92

7. Rocketing: Combustion 93

Headlines 93

Not enough good ideas 93

7.1 Continuous Insight Fuel 95

From insight to fuel 95

360-degree Insight 96

360-degree Insight Sources 97

7.2 Multiple Ignition In Parallel 110

Igniting the insight fuel 110

Parallel processing 110

Lisa and Mac 114

Practical Ignition Tools 115

7.3 3 Bucket Principle 128

What it is 128

Grave-robbing 131

7.4 Coda: A whole year view of Innovation 134

The 15% rule 134

Your typical year 134

Key takeouts 136

Checklist: Combustion 137

Handover 137

8. Rocketing: Nozzle 139

Headlines 139

From Whittle to 'Wow' 139

Picking winners is a lottery 140

Show business: Theatre Rules 143

Poor external screening 150

Show business: Idea Power 150

Key takeouts 157

Checklist: Nozzle 157

Handover 158

9. Rocketing: Expander 159

Headlines 159

Keeping positive 159

Innovation Antibodies 160

Expand not evaluate 161

Be a builder not a knocker 162

Execution is everything 170

Get real feedback 170

Launch then tweak 176

Key Takeouts 177

Checklist: Combustion 177

Handover 178

PART IV: The Entertainment 179

10. Ten innovations that make it look easy 181

Innovation shortcuts 181

New brands are innovations too 182

The 10 Innovations 183

PART V: The Practicalities 205

11. Doing it faster 207

Headlines 207

It always takes longer than you want it to 208

Case Study: Project Blues for Unilever Foods 209

The Approach 209

Plan in decisions 210

Smaller teams 212

Parallel Ideation 214

Real-time insight 216

Fast agencies 217

Blues: The result 218

Key takeouts 218

Checklist: Doing it faster 218

Handover 219

12. Avoiding the pitfalls 221

Headlines 221

Pitfalls and Pratfalls 222

Nine innovation pitfalls 223

No. 1: Oops, the product is useless 223

No. 2: 'Not invented here' syndrome 226

No. 3: The 'could it be. . . ?' killer 229

No. 4: Over-testing 231

No. 5: Killing by proxy 233

No. 6: The off-guard boss 235

No. 7: 'Yes, but. . .' 237

No. 8: Poor casting 238

No. 9: Giving up 240

Handover 242

Appendix: Rocketing toolkit 243

Index 255

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