What do you do if your innovative strategies aren't producing desired business outcomes?

Over the past several years there has been considerable and perhaps unnecessary debate over which research techniques are most effective in the support of innovation efforts. Rather than seeing these techniques as tools in the same toolkit, we have debated the worthiness of different methods without moving the overall discipline forward. My advice is to not become overly attached to a single innovation research approach. For example, ethnographic observation has produced miraculous results, but practitioners have found miracles do not happen in every project. Strive to expand the sources of innovation, reduce the risk of depending on only one approach that may have worked for you in the past or that happens to be popular now.

If your plan isn't working, take a step back and assess its effectiveness and the specific challenges hindering its progress. Make necessary adjustments or consider a different approach based on feedback and analysis. Set new objectives that are more aligned with the current circumstances, and don't hesitate to experiment, iterate, and seek assistance to increase your chances of achieving success.

Innovation, if not backed by data, and just for the sake of it will most likely produce underwhelming results. Now, this doesn't mean that one shouldn't innovate. However, a data based approach is the best. Data can be referred from within your own systems or through competitive analysis (in cases where data is not available in-house). Analyse where exactly in the feature are customers dropping off. Connect with customers 1-1 if that's possible. Gather all possible insights and decide if the feature is to be improved or sunset. Never repeat what went wrong in the first place.

SMART will have an impact if you thoroughly have an understanding of the market pulse,positioning and the awareness of the competitors USP, based on which small tweaking to be done on the strategy.

In my opinion, any form of innovation generates refreshing energy in a team as against conventional methods. So long as it doesn’t harm the business outcomes, it is wise to take the learning from it while continue trying newer and newer innovative strategies. I believe it will surely pay off sooner than later.

Analyzing outcomes and gathering feedback from key stakeholders are crucial steps in refining and fine-tuning a strategy. By carefully evaluating the results and incorporating feedback, you can identify areas for improvement and adjust your approach accordingly. It's important to iterate on the strategy continuously until you achieve the desired results. This iterative process allows for flexibility and adaptability, ensuring that the strategy remains effective in meeting your goals amid changing circumstances and stakeholder needs.

We need to analyze the outcome and also need to take feedback from key stake holders. On the basis of the above two, We need fine tune the strategy. With the new strategy We need follow the same procedure till we get the desired result.

Good strategies depend on knowing why they don't work well. Engage with customers, employees, and stakeholders to gain insights. This feedback exposes gaps between perceived market desires and actual needs. Leveraging the voice of the customer facilitates strategic adjustments that resonate better with market expectations and enhance overall experiences.

To start off anything be it a new business or a new process or a new dish, we need someone to tell us, "this is it!" Feedback works wonders. When any innovative strategies fail, it is necessary that we collect and work on the feedback (positive or negative) and reassess our goals and work towards our beautiful end result. Feedback in any form, be it face to face or written is very useful to re-strategise our goals and for the betterment of our innovations.

Gathering early feedback is most crucial. Survey the Stakeholders -Get input from employees, customers Real time Reports - Engage in one-on-one discussions with key stakeholders to go deeper into their thoughts and concerns. Data Analysis -Analyze metrics do Gap Analysis , identify possible bottlenecks. Iterative Approach - Consider implementing smaller, iterative changes rather than completely overhauling strategies. brainstorm with teams for solutions and refine strategies collaboratively. Many times simple Tweaks works wonder on the business outcomes By gathering feedback we can pinpoint areas for improvement n refine our innovative strategies for better business outcomes.

If the marketing strategy is not producing desired results, it is critical to reassess the basics. From a pharmaceutical industry perspective, important aspects to review are (Who+ what+ Where). Need to assess if the target Dr selection is right?, Is the message targeted to the Drs relevant for those doctors? Are there any specific geographies where performance is an issue? Data analysis is crucial for reassessing the strategy because it provides insights into what's working, what's not, and what changes might be necessary. By analyzing data, you can identify trends, patterns, and outliers that inform strategic decisions, helping you adapt and optimize your approach for better outcomes.

It's important to conduct a thorough analysis of the situation to identify the root cause of the issue. This may involve gathering feedback from stakeholders, conducting market research, and evaluating the competitive landscape. By understanding the underlying factors contributing to the lack of desired outcomes, you can make informed decisions on potential adjustments or pivots to your strategies. Additionally, seeking input from colleagues or industry experts can provide fresh perspectives and new ideas for overcoming challenges. Remember, innovation often requires iteration and adaptation, so don't be afraid to refine your strategies based on the insights gained from this analysis.

First rest assured: it’s the normal case that innovation efforts don’t pay off at first try. Pivoting your way forward is crucial. You should rely on all data you can get in the customer journey. But don’t iterate just because you don’t see the intended result. Always try to understand first – otherwise you might go into the wrong direction.

If you're not measuring your strategy, then it's all just random chaos. Numbers don't lie, but before you make any drastic changes, make sure you've given enough TIME for the strategy to be effective. Patience is difficult in this fast paced business world. Once you've given that proper time to determine what's working and what isn't, then based off of the data make necessary changes. And rinse and repeat for the foreseeable future.

when we are not getting the output what we are expecting in business from our product while we need to analysis the data and consumer behavior.

In my experience, iterative planning is the only way to go - having a clear goal in mind, but not fixing the way to get there. Milestones are important, reflecting those with clear data points, while not forgetting to observe customer behavior, and listening carefully to the teams involved. Sometime surprising findings, unexpected opportunities come your way, when you are open to look around the corners on the way.

Strategy, especially at the very early stages of execution, requires agility and the ability to iterate very quickly, that can be the difference between a successful and a failed business.

To iterate quickly, streamline decision-making processes, foster a culture of experimentation, empower teams to make decisions, and leverage on technology. Test a few of new ideas gathered Prioritise changes based on impact, and implement incremental adjustments to your strategies. These would certainly help in business outcomes

If your new ideas aren't working as expected, quickly change them. Look at feedback, make adjustments, and try again fast. Keep trying different things until you find what works best.

Sometimes you need a fresh set of eyes. Consider seeking guidance from consultants, mentors, or other specialists in your field. Their experience can help you identify potential pitfalls and refine your approach.

First, I will re-examine the objectives. Second, I review old strategies with colleagues. Thirdly, I adjust new strategies with consensus, of course, I increase creativity. Fourth, I start the trial implementation of the strategies.

Go back to the drawing board! Re- evaluate the trajectory in terms of objectives, consumer behavior and competition, backed by relevant data analysis. Local level, test implementations are recommended before going mass.

Don't just hire the first consultant, become a master of curated expertise. Identify external experts with specialized knowledge that fills specific gaps in your understanding of the innovation's shortcomings. If your innovative product is struggling to gain traction, seek out an expert in the specific niche your product targets to uncover cultural nuances or unforeseen market barriers. This curated expertise approach ensures you get targeted insights that directly address your innovation's challenges.

If your current strategies aren’t delivering the expected results, don’t hesitate to seek external expertise. An outside perspective can often illuminate blind spots in your approach that you might have missed. Professionals in market research can provide valuable insights into industry trends and customer behaviors that might have been overlooked. Their expertise can serve as a catalyst for fine-tuning your strategies, enabling them to resonate more effectively with your target market. Remember, the wisdom of experts can often be the difference between a strategy that falls flat and one that truly connects with its intended audience.

If your organization's strategies are failing, don't hesitate to seek external expertise. Many times, an outside perspective can reveal blind spots within your approach. Market research professionals, for instance, can help you understand industry trends and customer behaviours that you might have overlooked. With their expertise, you can refine your strategies to resonate more deeply with your target market, and ultimately achieve success. Remember, a genuine strategy involves making clear choices that define what your organization will and won't do. So, if your strategies lack a clear set of choices, it's time to seek help.

Be resilient, but be prepared to question whether it is an innovative strategy that needs adapting or an irrelevant strategy that needs to be reconsidered.

"In the face of challenges, resilience is key. When innovative strategies don't yield desired outcomes, don't lose hope. Instead, view setbacks as feedback, stay committed to your vision, seek support, and stay flexible. Celebrate small wins, maintain a positive mindset, and practice self-care. Resilience isn't just about bouncing back; it's about bouncing forward, using challenges as stepping stones to greater success. Stay resilient, stay focused, and you'll emerge stronger than ever.

In my opinion, being resiliant is important. But even more important being able to change yourself to be "liquid" and being adaptable to every reality we face. Resilient people without that flexibility/agility will be having the same challenges even if they have the courage (from resilience) to face them

In my opinion, no strategy is bad; it's just not implement on the right time. Write down your innovative ideas, do market research and gauge when can you apply which strategy at what time. No strategy would work within one day, you have to be consistent and keep working on it for at least one quarter to see the progress. Also, set your goals before making strategies. It will help you to check on yourself right in the start whether you're too ambitious or not. If you're a freshie or market you're targeting is in recession, let's be honest, chances of locking a higher ticket size deal are less. Analyze yourself, gather the data and never be afraid to reevaluate.

Remain agile and adaptable in your approach to innovation and strategy execution. Be open to new ideas, feedback, and changes in the market landscape, and be willing to pivot or adjust your strategies in response to evolving circumstances. Embrace a mindset of continuous learning and improvement to drive long-term success. By taking a proactive and strategic approach to addressing shortcomings in your

Strategies need people to work for successful execution. Neglecting the human aspect can lead to reluctance or dissatisfaction among those responsible for implementation. When innovation strategies or any plans are formulated without considering the individuals involved, it can result in resistance or unhappiness during implementation. Therefore, it's crucial to openly communicate with and gather feedback from those at the core of implementation when facing challenges. By engaging in dialogue and understanding their perspectives, we can pinpoint issues and make necessary adjustments to improve the chances of success.

Then you need to ask yourself how marketable these ideas are and is there a need for it as such. Innovative ideas that do not fulfill a need or solve a problem are just waste unless you are capable of creating the need for your ideas....

Some golden rules to consider: *The amount you invest in a campaign has a significant impact on what can be achieved by way of results *The quality and relevance of the creative is essential *The brand’s halo *Then it is the media channels chosen, remembering that you cannot achieve significant cut through using digital alone (even now) *Then the optimisations undertaken in media based on results

If your innovative strategies aren't producing desired outcomes, consider: 1. Challenge assumptions: Are they still valid? Have conditions changed? 2. Conduct competitive analysis: What are competitors doing differently? 3. Engage in scenario planning: Plan for various contingencies. 4. Foster a culture of innovation: Encourage experimentation and learning from failures. 5. Collaborate with stakeholders: Gather diverse perspectives to inform decisions. 6. Focus on customer-centricity: Continuously seek to understand and meet evolving needs. Stay agile, adaptable, and open to new ideas as you navigate challenges and work towards achieving your goals. Setbacks are part of the process.

Before going into the "why" your strategy isn't working, ask yourself if the strategy you've implemented is a long-term or short-term strategy. If your strategy is a long-term one, and you're getting negative business outcomes in the short term, then you need to assess if these short-term effects are temporary or part of a long-term trend.