Product Strategy , Strategy — 10.09.2020

In Times of Uncertainty, Big Companies Move Focus from External to Internal Innovation

Sara Croft, Principal, Growth Marketing

The impact of COVID-19 and the resulting economic turmoil has been devastating for countless businesses around the world. No matter the industry, companies are scrambling to overcome obstacles related to the pandemic, whether the issue is falling customer numbers, a lack of inventory, or something else. While attention should always be placed on customer retention and yes, even customer acquisition, now is the time for large companies to look inward to evaluate, innovate, and strengthen the internal structure of the business.

How can technology help?

Technology solutions are not just suited for technology companies. Even companies operating in industries that have been running a business the same for decades can benefit from digital solutions. In fact, there’s probably the most opportunity for advancement through relevant technology in those industries. Digital products can do everything from digitizing and organizing patient updates at a doctor’s office to keeping track of inventory across multiple distribution center locations. The possibilities are vast, and so is the potential for growth with the help of digital products. Ask yourself:

  • Are you still using paper copies for certain areas of business?
  • Do you find there aren’t existing tech solutions that address your specific pain points?
  • Are team members manually entering information/data into a number of software systems?

Why now?

On paper, it’s easy to say that internal operations are always top-of-mind for companies. In reality, internal issues and challenges may get pushed to the side time and time again due to a lack of time or budget. When it comes to assisting with a customer need versus spending time figuring out a solution to an internal issue, you can bet the customer will take priority most of the time.

Many companies have time now. Use the time wisely by pinpointing pain points and developing solutions that enable future growth. Ask yourself:

  • Do team members have extra capacity due to decreased workload?
  • Could you host a brainstorming session to try to pinpoint areas where improvements are needed?
  • Could department leaders compile a wish list of potential technology solutions?

Internal innovation matters

Companies are always thinking of how to make their product or service work better for their customers. Being customer-focused is undoubtedly important, but prioritizing internal operations means people and processes will be in place that position employees to be able to better serve customers. So often companies employ the same processes and methods not because they work well, but because they’ve always been done that way.

Innovation is key for company leaders who want to keep their business competitive in a changing market. Ask yourself:

  • When was the last time new innovation was deployed internally? How did it go?
  • What tasks are taking the longest for employees in different departments? Could an innovative solution streamline those tasks?
  • Could internal improvements increase employee morale?

The right partners can create digital solutions to internal challenges

Innovation requires time. As traditional workload is down for countless companies in the United States and abroad right now due to the pandemic, we have a silver lining: time. Using time to innovate can improve business practices and streamline processes, bettering business in the long-run. Working with reputable partners to ideate and develop digital solutions is a way to ensure time invested is utilized fully to create a product that works. Ask yourself:

  • Have you had ideas for digital products, but not moved forward because you didn’t know where to start?
  • Do you prefer to work with a single partner that can manage all aspects of digital product strategy, branding, design and more?
  • Do you want to produce a digital product that is engaging yet simplistic, sophisticated yet intuitive?

Innovatemap has wide-ranging solutions to bring digital products to life. From market research to branding and product design, our services are built to go from concept to creation. We’ve helped companies large and small develop digital products made for the masses and solutions that are utilized internally to simplify or improve processes. Let our experience ensure your vision comes to fruition in a meaningful way.

Internal innovation is always important. But being customer-focused sometimes means pushing internal innovation to the side in favor of work that seems to more directly benefit the customer. While happy customers grow business, it is an efficient business that keeps customers. Take the time now to remove inefficiencies with the help of digital products that are easy to use, impactful and engaging.