In Episode 9, I briefly talked about differentiation and why it is an important part of innovation.
In this episode we do an even deeper dive into the topic. And in particular I share my Innovation Targeting Matrix. The premise is that there are three levels of activities/opportunities – and they aren’t all equal. When you better understand how to prioritize your innovation investments, you will get the biggest bang for your buck.
The three levels are:
- Support – creates internal value
- Core – Table stakes/customer expectations
- Differentiating – The reason someone does business with you
By determining which level your challenges focus on, you can best determine your innovation strategy.
Although the Innovation Targeting Matrix was not in the Invisible Solutions book (it was in Best Practices are Stupid), I felt it was a useful tool to include here for listeners.