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Innovate or die. That’s been the business rallying cry… but I think there’s something missing there. Innovate FAST or die. As consumers we have been conditioned to expect bigger, better, over and over. Companies have created a relentless pressure cooker for themselves. Ideating, developing and delivering new products to market faster and faster is the order of the day. But we also know the stats – anywhere from 50-80% of new products fail. How can one quickly separate the winning ideas from the dogs? So, one can’t just be innovative – one must be astutely nimble too. When it comes to insights, we are not immune from the pressure. This is especially true here at BuzzBack. We are perennially curious about new technology and how it can be exploited and deployed to our industry’s advantage. We embrace disruption – it keeps us agile and creative. Lately this idea of harnessing technology to help our clients be smarter, nimble innovators has been keeping us up at night.
We want to see more brands experience wins like last year’s introduction of Honey Bunches of Oats Greek Yogurt – a product that went from a passing comment to home run launch at unheard of speed. How might we help inspire more success stories like this while mitigating the risk that often comes with moving faster than market insights can keep up? So we’ve been developing our own new concept to help clients expedite how they create, evolve, refine and advance ideas with consumer input, all while increasing the likelihood of marketplace success. Watch this space for more news about it, and details on how it works.