phase 4: distribution and utilization
Ideas are only as good as their execution. Insights collected and prioritized must be converted into products and solutions that solve the real problems of the users. Companies that put a process in place to develop innovation are the companies that are the market leaders.
- You have a communication plan that you follow to distribute and share Market & Competitive Intelligence insights to the organization.
- You utilize a standard, easy-to-use template to report your analysis to the organization.
- You develop an action plan that answers the “what next?” question for how to convert insights into action.
- Insights are made relevant to the business by tying them to potential revenue.
- You follow a process to prioritize insights based upon frequency, size of pain, and Buyers’ willingness to pay.
- Once insights have been prioritized, you organize insights into requirements that can be developed.
- Your requirements are organized into a backlog that creates recommended development batches that can be used by the product and development teams.
- You summarize the requirements backlog into a high-level roadmap.
- There is an agreed upon Service Level Agreement (SLA) that defines how new innovative ideas will be handed off by the Market & Competitive Intelligence team and acted upon by the functional groups.
- Insight Reporting Template
- Insight Reporting Process
- Tactical Action Plan
- Insight Prioritization Process
- Requirements Backlog Documentation
- Innovation Roadmap
- Innovation Service Level Agreement (SLA)