It’s not a seven course meal.
It’s just a snack.
You can consume it in a minute or so.
But, it brings the flavor!
You could measure the effectiveness of your innovation program by the effect on sales or profitability. But those are backward looking metrics.
Instead, measure some forward looking metrics to make sure you are doing the foundational activities to keep those backward looking metrics looking good. Metrics like …
- Number of customers talked with
- Number of observations made
- Number of better understood customer interactions
- Number of new features, product concepts, and business models invented
- Number of new features, product concepts, and business models tested
Measure the innovation activities that can move the needle on those backward looking metrics – and provide real sustainable innovation return.
For a thorough guide to innovation techniques that will help you conceive and invent products that customers love, buy Steve’s e-book Made From Scratch.