Following a keynote talk at the NPD Food and Drinks Conference, WdV talks about why we should play broken records – ideas that keep coming up when the business talks about innovation.
As innovators, the vast majority of us will be under increasing pressure to deliver under tighter budgets, fewer resources and shorter time-frames. Like it or not, it’s the way of the world is going.
PWC calculated that in big businesses about $650 billion is spent globally on R&D with an 85% failure rate.At a business level, we all need innovation to work better, more efficiently and faster. At a brand level, we all want to be the first to launch NPD. And at an individual career level, we all need to get stuff to market as quickly as we can to make a name for ourselves.
In this context, should we always be starting brand new innovation processes/projects from scratch? At Webb deVlam, we have developed a way of working that is designed to make the most of those broken records.
Through a 6-week program that combines insight, ideation, concept creation and visualisation, rapid prototyping and validation with consumers, we help brands decide whether their records need to be fixed, remixed or ditched (regardless of the emotional attachment to the song!).
Ultimately, the process, diverse skills and experience we draw on and even the dedicated space we have created for our innovation work, give ideas time to finally flourish (or flounder) and to build a robust business case for the most compelling ideas to secure investment and the support of the wider business.
To find out more follow the link to Just Food for 8 ways food & beverage companies can deliver growth through innovation.Back to news