How much ROI do you capture from your product innovations? Turns out that most companies have a poor track record of capturing their fair share of the differential economic value they provide to customers.
In this month’s webinar, “Maximizing ROI In Product Development”, Dr. Stephan Liozu shared best practices for integrating ROI into new product development (NPD) processes like Stage Gate. According to Dr. Liozu, it is absolutely essential to estimate the amount of economic value your new product creates for customers before its launch. Interestingly, relatively few companies succeed in doing this effectively.
Clearly the evidence suggests that embedding a value-based approach to NPD provides companies with a huge competitive advantage which translates to above-average growth and profitability. Dr. Liozu advocates integrating customer value modeling in the early phases of Stage-Gate, primarily because it is a powerful screening criteria. Doing so allows companies to decisively drop unpromising innovations before spending too much on their development.
A number of high-performing companies have had success embedding a value-based approach into their Stage-Gate process by using the LeveragePoint platform. LeveragePoint provides a cloud-based collaborative platform that is fast and easy to deploy.
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