Table of contents
Understanding the market & the growth strategy that best fits it
Draft your innovation strategy in 3 steps
At the end of the Innovation Strategy phase, we will have

Our process 2. Innovation Strategy

Understanding the market & the growth  strategy that best fits it

Once we’ve gained a deep understanding of your needs, challenges, and context during the Discovery phase, we move on to develop your innovation strategy.
This stage involves 3 key steps:
Throughout the Innovation Strategy phase, we identify the key assets we can leverage to make the biggest impact according to your growth objective.
When it comes to practical aspects, we:
Define the project’s magnitude
  • Outline the “territory”, the extent of the playing field
  • Prioritize needs so we can focus our efforts on the most burning issues
  • Define the core impact area and also pinpoint secondary areas that benefit from the results of the work we do together.
Next, we build an internal program that makes efficient use of your resources to achieve fast progress. This often involves using what you already have but in new, more powerful ways.
Outline the investment
  • Financial investment
  • Time-costs, both direct and indirect
  • Opportunity cost - impact on other priorities
When you work with us to make innovation a core part of your business strategy, you don’t have to put your company on hold. Our methods are lean and tailored to help you achieve results without pausing ongoing projects.
That is why we always do an estimation of the initial investment. This assessment includes both direct and indirect cost while also touching on opportunity costs associated with the innovation program.
Even though innovation is unpredictable, we firmly believe in factoring in predictability for the overall business impact of the program.
Email us to start
Establish the expected results & ROI
What gets measured gets done. This famous saying is a practical business reality we bring to every single innovation strategy we develop.
To do it, we work together to:
  • Set up SMART objectives that everyone involved will know
  • Define objectives in stages so we can produce results at each stage
  • Clarify both direct and indirect ROI expectations.
Understand your barriers
The last step in building your Innovation Strategy is to get a strong grasp of your:
  • Organizational blockers (workflows, people, policies, industry limitations, legislation, legal boundaries, etc.) and
  • Risks, ranking them according to their potential impact.
Innovate for growth

Draft your innovation strategy in 3 steps

1. Comprehensive research
Research is an ongoing process throughout any innovation program, so you can expect us to do intensive desk research.
We focus on analyzing solutions other companies devised for the problem you’re tackling and acquiring information about the market so we can pinpoint growth opportunities.
2. The practical vision for innovation
Armed with these insights, together we articulate a proposal around your unique solution to the problem. This vision for innovation includes two essential components:
  • Identifying the riskiest assumptions: what has a big impact on your business that we don’t know about yet? In this proposal, we specifically outline what we know and what we don't know.
  • Building a series of experiments that we can develop and run to verify these assumptions.
For example, when looking to create a dedicated bank loan product for startups in agriculture, we may run into the following challenge:
  • We know a few companies that need the money

  • We don’t know how many agriculture startups there are in our area because these details are not publicly available

  • To make the product profitable, it is essential to sell to at least 200 loans.

As an experiment, we create a gamified experience to map the potential market demand:
  • We can create a contest involving a small prize to incentivize agriculture companies to sign up and, thus, provide their contact details

  • We advertise the contest on agriculture associations and groups

  • Following up, we screen them to see how many we can reach.

3. Your custom innovation process
When implementing these experiments, we give careful consideration to your goals, budget for investment, barriers, and desired ROI.
Based on them, we define a custom process that best fits YOUR context and company profile:
  • Your areas of proficiency and your pool of resources
  • Your missing skills and how we can cover or build them internally
  • The tactics and workflows to be used throughout the rest of the innovation project.
For example:
Outstanding design
If design is your strength, we integrate your designers in the process and supplement their skills with data analysis and coding.
Stellar sale
If you have a rockstar sales team, they become part of the experiments. We empower them with beautiful sales presentations, quality leads, and demos they can proudly present to customers.

At the end of the Innovation Strategy phase,  we will have

  • An innovation strategy that fits your needs
  • A vision of success that you strongly endorse
  • A way to implement your vision and track progress objectively.
Innovate with us
Go to the next step of the WiseUp innovation process: