What’s an Innovation Team?
An innovation team is a group of dedicated and talented people who have been tasked with developing new products and new ways to delight customers.
Your innovation team knows everything there is to know about your customers, and should be able to articulate it clearly in a few sentences. Their main goal is to take a deep look at your customer needs and strive to solve them.
Innovation teams regroup diversified skill sets. They need product specialists such as designers, food scientists, marketing product managers, and more. Furthermore, they need to include some market insights players as each team member has an important role to play when it comes to chewing trends and surveying customers.
Remember the secret to success with new products? Keep the communication lines open with your customers so you can validate assumptions about the problem and the solution you are putting forth for them.
What is the expertise of the innovation team?
This team knows best how to handle front-end innovation. They can develop an effective strategy for your business through trend analysis, based on pillar trends you want to take advantage of. They then identify the ideal customer profiles and understand their problems to provide innovative solutions that are tailored just for them.
After building a strong strategy to meet customer needs, the innovation team will either explore product line additions or product renovations.
Expertise matters when it comes to translating an idea into something tangible. A strong innovation team has a talent for converting market insight into an actionable plan that generates incremental sales.
How do you build an innovation team?
Start building an innovation team around product management, so you can have control of the current situation. Product managers keep track of all development initiatives in addition to coordinating partnerships between departments (operation, Sales, finance, etc…).
Next, choose a strategic framework that matches up with your company goals, and design your process for new product development.
That means building the foundation of your new product development ecosystem: Process, Governance, Metrics. You need to be able to push existing projects out in the market, without creating costly delays while structuring your team and Innovation. Keep in mind the skills required and the size of the team needed for your business.
Once that’s done, it’s time to find someone who will take the reins and bring your company’s innovation strategy to life – what we call an Innovation Leader. Ideally this person will report directly to the CEO, but they could work in a variety of different departments – such as marketing.
Your innovation strategy could use some advice from someone who knows your customers. Adding a market insight person to your team will help you develop your products. Your product manager is the best person to discuss product features, while the market insight person will be the best team member to discuss customer needs.
With a well-defined strategy, it’s now time to figure out just how many products you want to release and at what frequency. With clear objectives, you’ll be able to estimate the size of your team.
Before you leap into action
Adding a Project Manager to your team could allow you to smoothly transition projects from ideation phase to implementation.
Once the Innovation team releases the new idea to the Core Team, having a Project Manager is crucial to highlight risk, communicate project status to key stakeholders including executives and ensure the success of the project.
In an organization, typically the Research and Development (R&D) and Design teams are included under one umbrella called the Innovation team. However, depending on your company’s current business model, it may be more efficient to keep these two teams separated from each other.
There are times when the product expertise is at the end of one person, who will need to divide their time between Quality Assurance (QA) and Innovation. If that’s the case in your company, keep in mind the new product goes beyond the prototype and your marketing team should be able to move forward, even with limited time from the product expert.
In this article, I explained what an innovation team is and gave you some tips to start yours. However, every company has its own specific needs. Whether it’s crafting new ideas or improving current ones, your company deserves a tailored experience from people working to solve these challenges.
_________________________________________________________
Innovation MB is an Innovation Management Agency with a passionate team of professionals who will help accelerate your innovation journey to hit the market faster successfully. If you feel that your Product Manager struggles with the numerous short term requests and may benefit from some coaching, we can help!
Your Innovation Management Ecosystem is your path to success. Book a discovery call with one of your experts to find out how to take your Innovation Journey to the next level!