Costovation: Innovation That Gives Your Customers Exactly What They Want--And Nothing More

AMACOM

Narrated by Van Tracy

4 hr 45 min

Wow your customers . . . with "less." Cut costs-it's a common corporate refrain. But if you constantly slash expenditures, what happens to innovation? How can you stay competitive and satisfy customers? Costovation solves the dilemma of how to spend less and innovate more. The book's revolutionary approach broadens the definition of innovation beyond products to the business model itself. With costovation, you let go of assumptions, take a fresh look at the market, and relentlessly focus on what customers really want. Consider Planet Fitness-it grew to 7.3 million members by concentrating on casual exercisers. Those folks don't care about frills. They want easy, low-cost access to good equipment. Although it's inexpensive to run, Planet Fitness ranks highest in gym satisfaction. Gourmet grocer, Picard, sells only frozen food. With less perishable inventory, they compress costs while delighting a discerning but busy clientele. Packed with examples and interactive exercises, the book explores cost innovation strategies that work for big and small companies alike. From open innovation and cost-sharing to simplifying products and turning waste into new offerings-readers learn how rivals are carving out niches, protecting positions, and dominating industries. Innovation and cost-cutting are not opposites. Combined, they expose untapped opportunities to outsmart and underspend competitors.

Charts and checklists available in the audiobook companion PDF download.

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Additional Information

Publisher
AMACOM
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Published on
Sep 18, 2018
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Duration
4h 45m 52s
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ISBN
9781400214464
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Language
English
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Genres
Business & Economics / Management
Business & Economics / Production & Operations Management
Business & Economics / Strategic Planning
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Accompanying PDF
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Eligible for Family Library

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In a challenging economy filled with nimble competitors, no one can afford to stagnate. Yet, innovation is notoriously difficult. Only 1 in 100 new products are successful enough to cover development costs, and even fewer impact a company's growth trajectory. So how do you pinpoint the winning ideas that customers will love? Sifting through purchasing data for clues about what might sell or haphazardly brainstorming ideas are typical strategies. But Jobs to Be Done offers a far more precise and effective approach: determining the drivers of customer behavior--those functional and emotional goals that people want to achieve. Using the Jobs method, it becomes easy to see that people don't really need a 1/4-inch drill bit, but a 1/4-inch hole. They're not just buying ice cream, but also celebration, bonding, and indulgence. This simple shift in perspective opens up new insights about your customers and a wealth of hidden opportunities. Social media newcomer Snapchat, for example, used the Jobs process to capture the millennial demographic. By reducing functionality, the company satisfied its users' unmet need to document real life, in the moment, without filters and "like" buttons. Packed with similar examples from every industry, this complete innovation guide explains both foundational concepts and a detailed action plan developed by innovation expert Stephen Wunker and his team. From unlocking customer insights to ideation to iteration, you'll learn how to: * Figure out what customers really want, even if they can't express it * Sort out valuable insights from less useful customer data * Dig into the underlying "why" of consumer behavior, not just the "what" * Target unaddressed jobs to be done that have the power to disrupt * Identify key customer segments you didn't know existed * Develop solutions that work with ingrained habits, not against them * Use a Jobs-based lens to get a broader view of the competition * Generate better ideas in brainstorming sessions and vet your solutions * Sidestep common mistakes, such as engaging in "feature wars" * Spot emerging trends that are changing how customers will behave * Work customer insights into the design process * And much more Jobs to Be Done gives you a clear-cut framework for thinking about your business, outlines a roadmap for discovering new markets, new products and services, and helps you generate creative opportunities to innovate your way to success.
In a challenging economy filled with nimble competitors, no one can afford to stagnate. Yet, innovation is notoriously difficult. Only 1 in 100 new products are successful enough to cover development costs, and even fewer impact a company's growth trajectory. So how do you pinpoint the winning ideas that customers will love? Sifting through purchasing data for clues about what might sell or haphazardly brainstorming ideas are typical strategies. But Jobs to Be Done offers a far more precise and effective approach: determining the drivers of customer behavior--those functional and emotional goals that people want to achieve. Using the Jobs method, it becomes easy to see that people don't really need a 1/4-inch drill bit, but a 1/4-inch hole. They're not just buying ice cream, but also celebration, bonding, and indulgence. This simple shift in perspective opens up new insights about your customers and a wealth of hidden opportunities. Social media newcomer Snapchat, for example, used the Jobs process to capture the millennial demographic. By reducing functionality, the company satisfied its users' unmet need to document real life, in the moment, without filters and "like" buttons. Packed with similar examples from every industry, this complete innovation guide explains both foundational concepts and a detailed action plan developed by innovation expert Stephen Wunker and his team. From unlocking customer insights to ideation to iteration, you'll learn how to: * Figure out what customers really want, even if they can't express it * Sort out valuable insights from less useful customer data * Dig into the underlying "why" of consumer behavior, not just the "what" * Target unaddressed jobs to be done that have the power to disrupt * Identify key customer segments you didn't know existed * Develop solutions that work with ingrained habits, not against them * Use a Jobs-based lens to get a broader view of the competition * Generate better ideas in brainstorming sessions and vet your solutions * Sidestep common mistakes, such as engaging in "feature wars" * Spot emerging trends that are changing how customers will behave * Work customer insights into the design process * And much more Jobs to Be Done gives you a clear-cut framework for thinking about your business, outlines a roadmap for discovering new markets, new products and services, and helps you generate creative opportunities to innovate your way to success.
A WALL STREET JOURNAL BESTSELLER

Do you know the best way to drive your company's growth? If not, it's time to boost your Growth IQ.

Trying to find the one right move that will improve your business's performance can feel overwhelming. But, as you'll discover in Growth IQ, there are just ten simple--but easily misunderstood--paths to growth, and every successful growth strategy can be boiled down to picking the right combination and sequence of these paths for your current context.

Tiffani Bova travels around the world helping companies solve their most vexing problem: how to keep growing in the face of stiff competition and a fast-changing business environment. Whether she's presenting to a Fortune 500 board of directors or brainstorming over coffee with a startup founder, Bova cuts through the clutter and confusion that surround growth.

Now, she draws on her decades of experience and more than thirty fascinating, in-depth business stories to demonstrate the opportunities--and pitfalls--of each of the ten growth paths, how they work together, and how they apply to business today. You'll see how, for instance:

  *  Red Bull broke Coca-Cola and PepsiCo's stranglehold on the soft drink market by taking the Customer Base Penetration path to establish a foothold with adventure sports junkies and expand into the mainstream.

  *  Marvel transformed itself from a struggling comic book publisher into a global entertainment behemoth by using a Customer and Product Diversification strategy and shifting their focus from comic books to comic book characters in movies.

  *  Starbucks suffered a brand crisis when they overwhelmed their customers with a Product Expansion strategy, and brought back CEO Howard Schultz to course-correct by returning to the Customer Experience path.

Through Bova's insightful analyses of these and many other case studies, you'll see why it can be a mistake to imitate strategies that worked for your competitors, or rely on strategies that worked for you in the past. To grow your company with confidence, you first need to grow your Growth IQ.

"If we don't drop our price, we will lose the deal."

That's the desperate cry from salespeople as they try to win deals in competitive marketplaces. While the easy answer is to lower the price, the company sacrifices margin--oftentimes unnecessarily.

To win deals at the prices you want, the strategy needed is differentiation. Most executives think marketing is the sole source of differentiation. But what about the sales function of the company? This commonly neglected differentiation opportunity provides a multitude of ways to stand out from the competition. This groundbreaking augiobook teaches you how to develop those strategies.

In Sales Differentiation, sales management strategist, Lee B. Salz presents nineteen easy-to-implement concepts to help salespeople win deals while protecting margins. These concepts apply to any salesperson in any industry and are based on the foundation that "how you sell, not just what you sell, differentiates you."

The strategies are presented in easy-to-understand stories and can quickly be put into practice. Divided into two sections, the "what you sell" chapters help salespeople:

Recognize that the expression "we are the best" causes differentiation to backfire.Avoid the introspective question that frustrates salespeople and ask the right question to fire them up.Understand what their true differentiators are and how to effectively position them with buyers.Find differentiators in every nook and cranny of the company using the six components of the "Sales Differentiation Universe."Create strategies to position differentiators so buyers see value in them.

The "how you sell" section teaches salespeople how to provide meaningful value to buyers and differentiate themselves in every stage of the sales process. This section helps salespeople:

Develop strategies to engage buyers and turn buyer objections into sales differentiation opportunities.Shape buyer decision criteria around differentiators.Turn a commoditized Request for Proposal (RFP) process into a differentiation opportunity. Use a buyer request for references as a way to stand out from the competition.Leverage the irrefutable, most powerful differentiator...themselves.

Whether you've been selling for twenty years or are new to sales, the tools you learn in Sales Differentiation will help you knock-out the competition, build profitable new relationships, and win deals at the prices you want.

Accompanying charts are available in the audio book companion PDF download.

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