Inventors ROI Guide

With new product designs, there are a lot of business values that come hand-in-hand with it. Staying ahead of the curve and always looking for ways to improve the design is part of what makes inventors great leaders and game changers in this cluttered marketplace. Here are some of the Inventors ROI and business values that good design can bring to the table.

Increase speed to market

Increasing speed to market is a huge focus for inventors. Innovating product design and development that allows it to react more quickly to change, increasing competitiveness. This includes, but isn’t limited to, rapid iteration to reduce development cycle time, the ability to validate new business opportunities, learn methods for building minimal viable products that can be released quickly, etc.

Market research is a key component of product launch success and sustainability. 

Extend market research

A whopping 40% of new products that enter the market fail, and although the success of a new invention is never guaranteed, market research can help with the success. Deep user insights, breaking market segments versus thinking in segments and categories and looking at product strategy more creatively to help identify a strategy that’s more aligned with customer goals.

Drive engagement and loyalty

A customer experience is defined by the interactions a customer has with a company over time through touchpoints like websites, apps, and physical touchpoints like the packaging. The better the customer experience, the more likely customers will want to engage with your product and form a loyal relationship with it. With the heavy competition out there, customer experience is high on the priority list of inventors.

For a deeper dive into the business value that good design can have, download this informative eBook.