Presentation on Product Innovation and online tools available to help a product through the development cycle. Curated for Product Camp Sydney (20 Mar 2010)

1. Is your Business Ready for
Radical Innovation?
Product Camp

2. Product Innovation
• Why innovate?
• The shades of product innovation
• When is the right time
Denise Tung – Media Monitors

3. Why Innovate?
• Keeps your business ahead of competitors
• Support growth targets
• Captures, creates and sustains value
Creating something new
Denise Tung – Media Monitors

4. Product Innovation Spectrum
• Keeps your business ahead of competitors
• Support growth targets
Source: Innovation Business Model survey – S&C, 2009
Denise Tung – Media Monitors

5. Finding the right approach to manage
innovation
Source: Innovation Business Model survey – S&C, 2009
Denise Tung – Media Monitors

6. Disruptive Innovation
• Product improvements in ways that market or
customer does not expect
– Simpler
– More affordable
– More accessible
Data is non conclusive; challenges norm –a leap of faith!
Denise Tung – Media Monitors

7. Gotta love Tom Peters
• Disgruntled customers, off the scope competitors
• Benchmarking is based on today, not tomorrow
• Innovation takes guts and passion
• Can’t be remarkable by following another remarkable
http://www.youtube.com/watch?v=8AGTpu_i8sc
Denise Tung – Media Monitors

8. Disruptive?
Denise Tung – Media Monitors

9. Disruptive?
Denise Tung – Media Monitors

10. Discussion
• What experiences have you had with
disruptive innovation in your org? Easy or
difficult?
• Do you agree with case studies shown here?
Denise Tung – Media Monitors

11. Now what?
Adding ‘social’ into product development
Keeping customers
When, who and why we need to collaborate..
Denise Tung – Media Monitors

12. Stage 1: Idea/Concept
• Facilitate and
capture ideas
Sources:
S
Social Mention, Spigit,
Salesforce,
Confluence
Denise Tung – Media Monitors

13. Stage 2: Concept Validation
• Confirming there is value for concept with
customers
• Social networks
(Twitter)
• Customer segments/personas..
Denise Tung – Media Monitors

14. Stage 2: Concept Validation
• Identify key product features
• Specifically match features
against tasks and needs that it
addresses
• Identify key segments or
individual users of your product
that will benefit
Example of a Customer Persona
Denise Tung – Media Monitors

15. Stage 3: Development
• Task scheduling, milestone tracking and collaborating with project members
Snapshot of Media
Monitors’
Basecamp
workspace
Denise Tung – Media Monitors

16. Stage 4: Test, refine, test, launch
• A picture speaks a thousand words so, Prototype, prototype prototype!
• (and be prepared to fail a few times whilst you’re at it ☺)
Non developers
can use GUI based
Mockingbird to
create web site
prototypes
Denise Tung – Media Monitors

17. Knowing when to engage
There is a time and place to interact with your
customers..
• A gap in knowledge e.g. verifying the importance of a
feature
• To educate the market; and/or
• To influence market/customer perception of your
product or service
The interaction needs to create value for both parties!
Denise Tung – Media Monitors

18. Thanks!
Contacts:
Denise.tung@mediamonitors.com.au
http://twitter.com/schmediachick
http://au.linkedin.com/in/denisetung
Denise Tung – Media Monitors