Building an Innovation Practice
The path to shifting to customer driven product development.
Profile
Industry: Technology / Banking Software Development
Customer in focus: Providers of banking services and partnering fintechs
Change topic: Brand transformation – Initiating an innovation practice
Engagement: 6 month start-up engaging 2 changeUp|GLOBAL partners, followed by 3 month engagements for each subsequent workshop
Location: Hybrid - programme planning and design predominantly virtual, followed by in-person events in London and Amsterdam
Challenge
A well established, successful, banking software development firm saw that clients were slow to adopt their digital products. They further realized that although clients had confidence in them as a strong software development company, they were perceived as traditional, slow moving and not innovative. To address this they initiated a program focused on growing their digital business. However they almost immediately recognized some obstacles:
- lack of resources to properly envision and staff such an initiative
- limited insight as to why digital products were not actively being adopted in the first place
- a realization that a change in ways of working may be required, while recognizing that due to the company's success there was little motivation to change
changeUp|GLOBAL were engaged to help formulate and execute an approach that would grow digital business, connect with and educate clients, and transform the company's public image.
“It took everyone out of their comfort zone to do things they’re not used to in a really creative and effective way.”
Banking client executive – Workshop participant
Approach
changeUp|GLOBAL partnered with the firm's digital leader and took the following approach:
- First, developed a proposal to secure buy-in from executive leadership - one which articulated the challenge, illustrated the proposed approach and made clear the potential benefits both to the firm and their clients
- Next, added the goal of introducing a customer driven, agile approach to product design and development in order to deliver meaningful and viable solution concepts
- Finally, applied our Re:Solve™ framework to design and put into practice a model program for innovation – a repeatable, customer-driven, dynamic event structure where clients worked side-by-side with firm associates in an immersive, highly collaborative environment, all in a time-boxed package (these events were 1-2 days in-person)
Deliverables
- Documented proposal for executive leadership providing the innovation program approach, rationale, design and metrics
- Branding and marketing assets launching a new brand identity for the innovation forum which aligned with existing corporate standards while upscaling them
- Designed and facilitated repeated Innovation client events each focused on a different client segment with its own specific customer challenges.
For each event:
- Managed all event logistics - location, facilities, catering, guest speakers ... even music
- Designed the agenda and supporting exercises tailored to the client segment in focus
- Provided firm associate training in advance preparing them to engage with clients and end-customers in a new way
- Facilitated and coached participants throughout each event enabling them to walk away with new skills as well as customer insights
- The capture and delivery of session output – documentation as well as photography and video
“This event helped to position our company as a strategic vendor in our client’s minds.”
Impact
Process Evolution: Successful adoption of a repeatable, agile, customer driven approach to product design enabling the delivery of relevant, marketable and timely innovations.
Brand Positioning: Solidly positioned the firm as an innovative thought-leader and trusted partner with clients through each event.
Business Intelligence: Informed internal sales and communication strategies as a result of gaining direct insights into what drives client decision making and behavior.
Culture Shift: Rallied internal energy around the idea of changing ways of working; lit the fire for a cultural shift to a customer driven, design led, product development organization
Contact Us today and make an appointment to get the full story on this example as well as others.