What is the current climate for innovations?

DVJ Insights
on 30/04/2020

From research among over 1,000 marketers in 3 countries, we know how important innovation is for the success and growth of a company. We also know that the coronavirus has changed the world, at least for the short term, tremendously and companies should do something. However, the question is whether the current situation requires new products, or whether we can look at innovation from the traditional principles and ideas. For that reason, we have studied 90 concepts at DVJ (in 3 countries, the UK, Netherlands and Germany with 30 innovations per country) to find out the secret behind innovating during the corona crisis. This report focuses on a meta-study to better understand innovation success during corona.

Why was the research conducted?

The current corona situation demands changes from a lot of people. The media is already talking about moving towards “the new normal”. But what does this mean for research and for measuring the success of new products and services. Since the start of the crisis, we have noticed over 400 new products and services. We wanted to understand the drivers for success behind innovations and if research can still be done in the same way and focusses on the same KPI’s.

How was the research conducted?

DVJ Insights has studied 90 concepts (in 3 countries, UK, Netherlands and Germany with 30 innovations per country) to find out the secret behind innovating during the corona crisis. We used our Total Emotional response Profile (TERP) to measure success. This Profile is based upon a combination of interest and buying intent. The TERP has a higher predictive value than the traditional purchase intent question.

What are the key findings of the research?

The results are surprising. Firstly, we see that traditionally successful innovations no longer guarantee success: concepts that scored well in the past, are no longer doing so. This means that companies that were ready to launch a new product or service might look at this again to avoid disappointments. Secondly, we see that most concepts that have been developed recently with the corona crisis in mind, can count on sympathy, but insufficiently lead to acceptance and success in the market. However, we see several concepts per country that perform very well and are even among the very best of the database. These concepts deviate in design from what worked in the past. It is important to fit the current situation, but it is even more important that the relevant friction is found in the “insight”. In addition, it is more important to focus on distinctiveness and willingness to share, rather than the more traditional focus on purchase intention. Which is currently not determining the rate of success very well.

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