Innovative offer to increase sales
Evolving Your Business
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| Module 1 | SMEEP | |
| Unit 1 | Overview about the program | |
| Unit 2 | Business Strategy | |
| Unit 3 | Innovative offer to increase sales | |
| Unit 4 | The online marketing campaign | |
| Unit 5 | Project Management | |
| Unit 6 | ICT setup | |
| Unit 7 | Company financials | |
| Unit 8 | Funding and Financing |
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In this unit, we will learn 4 steps that will guide you in developing your Next Innovation. Innovation can be summarized as the process of coming up with a new idea, product, service, or experience that customers would be willing to pay for. It is a key success factor for businesses these days since competition in the business world is fierce and innovation offers a way to differentiate and stay relevant to clients. Here is a simple 4 step process to help guide your innovation process:
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Understand the problem that you are addressing, the users that are affected, the technology that is available, the competitors’ offerings.
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Spend some time coming up with as many ideas as possible, regardless of how good they are (Ideate).
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Choose one or two of the best ideas – which could be a collection of a few ideas combined into one – and rapidly prototype them.
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Evaluate and Refine by getting your target users to give you their feedback and suggestions on the prototype that you created.
As this innovation process becomes engrained into your business the process can be conducted periodically all through the organization with the involvement of all staff. As Alan Kay said, The best way to predict the future is to invent it!
Mohamed had a real estate brokerage business. To generate leads, he depended on having his sales teams getting leads from malls where they had booths present. As the footfall got reduced in malls, he needed to find a new way to generate leads.
He followed the innovation design thinking model to guide him:
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Understanding the problem, he realized that his target audience (mainly Chinese tourists) weren't traveling
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As he brainstormed, he thought he could launch online advertising campaigns, partner with Chinese agents, or launch a blog or youtube channel
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He found that the youtube channel with interesting investment tips in the Chinese language for Chinese prospective buyers would generate short terms leads and also position him as a thought leader in this space. He can quickly set up the site by filming his Chinese speaking team explaining various properties and tips
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To measure the success of the prototype, he would track the video likes and how many leads were generated in the first 3 months
- Template: Free Innovation Design Thinking Template
- Article: Innovation Design Thinking Process
- Playlist: Innovation Design Thinking - YouTube Playlist
- Suggested Course: Innovation Design Thinking