What is an innovation audit?
Practically, the room44 innovation audit provides a view of your world that your customers see. Strategically, if you are beginning to think about divestment, investment, or retirement and succession, this will show you how your plans might be helped along.[/box]
Say ‘audit’ in any situation and watch the third eye drop and the other person focus in the middle distance. It takes a really buzzed up accountant to make ‘audit’ sound interesting. But we’re never put off by a challenge, and now ‘Innovation Audits’ are here to introduce some intrigue into the mix.
Here’s how room44 innovation audits work
Invite us to review your product plans and innovation strategy, and one of two things will happen:
- We’ll validate everything you plan to do as both appropriate and relevant.
- We won’t – but we will identify where things can improve and what needs work. In real terms, this is where we help you to train your weaknesses.
Innovation audits aren’t common. Traditionally-minded agencies, like those rooted in financial management and Lean processes, come at innovation from a fairly predictable starting point: where’s the money?
room44’s starting point is consumer-centric, on the one hand, and commercial on the other. Our testing covers four key metrics that start with, ‘who wants this?’ and end with, ‘are we allowed to do it?’ Combined, these metrics give you a comprehensive view of the probability of your plans succeeding.
We have a uniquely objective perspective to apply. The common ground we’ll stand on with you shows how relevant your product or service is, now and in the short term. Our use of Design Thinking and knowledge of developing markets will open up a landscape of opportunities. A new view comes from talking to each other and working it out.
Innovation audits take about a week to deliver. Working internally and collaboratively shows off your good points to maximum effect, and reveals the vulnerabilities that aren’t so obvious. We’ll see your dark corners and we’ll see through the personal agendas.
What we feed back at the end of the process is highly valuable insight and includes a discussion about what to do next, what to do after that, and what to plan for the future.
We stand your plans up to a mirror and show you how you look from the outside in. Effectively, this is a view of your world that your customers see. Strategically, if you are beginning to think about divestment, investment, or retirement and succession, the room44 innovation audit gives you a chance to see how your plans might be helped along.