Author Archives: Drew Boyd

Marketing Innovation – Pants on Fire and the Metaphor Tool

Here is an example from the long-running Progressive campaign featuring the lovable character, Flo. It uses the metaphor tool. The Metaphor is the most commonly used tool in marketing communications because it is a great way to attach meaning to a newly-launched product or brand. The Metaphor Tool takes a well-recognized and accepted cultural symbol and manipulates it to connect to the product, brand, or message.

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Innovation – Make It Someone Else's Problem

New research suggests that you are likely to be more creative when you imagine the problem is someone else’s instead of your own. Evan Polman and Kyle Emich describe their studies in their April 2011 article that support this conclusion. In one study, 262 participants were instructed to draw an alien for a story that they would write, or alternatively ...

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Innovation in Private Equity

Private equity firms can boost the value of their investment portfolio by applying a systematic innovation method along the entire investment value chain – before, during, and even after the investment. Private equity firms are collections of investors and funds that put money into privately-held companies. Private equity investments provide working capital to a target company to nurture expansion, new ...

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Targeting Your Innovation Efforts

Companies get better results from innovation by targeting initiatives at the right places. Given limited time, money, and human resources, here are six areas to focus on: 1. Your Value Drivers What activities across your business model create the most value? Is it operational or commercial? Who is involved and what departments make it happen? Use a corporate innovation method ...

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Innovation versus Feature Creep

Companies that struggle with innovation often make up for it by adding features to existing products. They succumb to “feature creep” – the gradual and continuous addition of features and functions though nothing is truly new. While it may look improved, the added features make your product more complex, difficult to use, and more costly to produce. Over time, your ...

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