Episode 03 — The House of Marketing Podcast
With Eline Khancheh Zar, Senior Consultant at The House of Marketing and leading a Business Design Thinking (BDT) sprint.
In this episode we dig a little deeper into the concept of ID marketing by looking at how it can be applied to the innovation process. Eline, Senior Consultant at The House of Marketing, explains what Business Design Thinking (BDT) is and how ID marketing will revolutionize the way we innovate.
Today on average 80% of new products fail. Why? Because companies rely on data that doesn’t reveal what users really want to buy. There’s a difference between what they say they’ll do and what they actually do.
What if we told you, you could avoid this risk of failure by offering what customers truly need and purchase?
At The House of Marketing we disrupted the traditional innovation process by adding a layer of integrated data marketing to the Business Design Thinking (BDT) methodology.
The "double diamond" framework of Business Design Thinking
Adding ID marketing to your BDT innovation process, helps you to put yourself in your customer’s shoes while constantly checking in with them through validation. To understand how customers think, qualitative and quantitative research can serve as a good starting point. However, to guarantee successful innovation it is important to validate your findings and to prioritize each identified problem through in market experimentation. Use neuromarketing to understand the ‘why’ behind their problems and behavior. Mixing different research methods with validation before you start building solutions, will ensure you are tackling actual and not only claimed customer needs.
This does not mean that validation is limited to the first phase of the BDT process. On the contrary, after using your validated findings to prototype, you will verify again by putting different value propositions in the market. Iterate each step until you get it right. It is key to alter your findings or even value proposition if it doesn’t correspond to real customer needs. Remember this is a continuous process, repetition can be done at any stage and as many times as needed.
By checking in with your customers and altering your products to both their needs and behavior, you will reduce the risk of creating an offering they won’t buy. Validation and iteration will not only save time and money but will also increase your chances for success dramatically.
- Looking for a more detailed explanation of the Business Design Thinking methodology? → Read our BDT series
- Prefer watching to listening or reading? → Join our webinar
- Interested to know how ID marketing & BDT can help your company build strong VP’s? → Get in touch with our experts
- Business Design Thinking – updated frameworks
- Business Design Thinking – animation video
- Business Design Thinking – blogpost series
- Our updated Customer Journey & Value Proposition canvas
Want to go further with Business Design Thinking at your company?