Monday, October 20, 2014

Lovable Innovation: The Spotlight on GM

New 2015 GM Models are to be equipped with 4G LTE
Last week we posted an article about Adding "Lovable Innovation" to your Business Terms Dictionary, which was Part 1 in our segment on Lovable Innovation. Today, we are showing how lovable innovation changed the game for GM. More specifically, for Mary Barra. Quite possibly the most powerful woman in the auto-industry, Barra is the first female CEO of General Motors and has made it her mission to turn the company around by embracing innovation. 

Friday, October 17, 2014

Top 5 Infographics of the Week: Women in Tech

Women earn 57% of the country's bachelor degrees and make up roughly half of the professional workforce, yet they represent less than 25% of STEM (science, technology, engineering, math) employees. And the funny part is, there is a plethora of STEM jobs out there, but not enough qualified workers to fill them.

Back in the 1970s, approximately 37% of computer science degree holders were women. In 2010, this number dropped to 18% (according to the National Science Foundation). But today, the trends are changing as more women are rising to meet the challenge of a traditionally male-dominated field. So why wouldn't you hire more women in tech? By reducing female attrition in STEM by 25% would add 220,000 people to the talent pool. Just some food for thought.

Wednesday, October 15, 2014

Add "Lovable Innovation" to Your Business Terms Dictionary

Embracing Lovable Innovation

Over the past decade, we've witnessed companies come up with a dizzying range of new products, yet many are still wondering why they are struggling. Some of these innovation concepts focus on enhancing current products and services, while others focus on creating game-changing technology. Whichever innovation concept they focused on, they seem to have forgotten one crucial thing: that innovation, whether it is radical or incremental, cannot just be about new features, products, or technology. Rather, innovation efforts must be concentrated and directed towards products and solutions that customers love

In the midst of this faux-innovation era, we are inundated with concepts and terms such as radical, disruptive, incremental, experience and more. Well, today we are going to debunk this business jargon and get to the heart of what it means to truly innovate in a way that customers will want to tell their friends about.

What is Lovable Innovation?

You may be asking yourself, "What is Lovable Innovation anyway?". Lovable Innovation is the process of learning what customers really value and then delivering complete, lovable products, services and experiences throughout the entire life cycle of the customer. Lovable Innovation doesn't end when the product is a success, it continues to satisfy the customer for the rest of their journey with you.

Friday, October 10, 2014

Top 5 Infographics of the Week: Lifetime Value of a Customer

Not to be confused with customer loyalty, the lifetime value of a customer is the projected amount of revenue a customer will generate over their lifetime at your business. A good rule of thumb to follow for this is called the Pareto Principle (also known as the 80-20 rule). This rule states that 80% of your company's revenue will come from 20% of your customers. That's why it is so important to focus on what's right in front of you - your existing customers. On top of that, research has found that it costs approximately five times as much to acquire new customers as it does to keep existing ones. So it's pretty much a no-brainer that you should work towards a retention program. But how do you do that? Well, we can't tell you the key to success but we can help by showing these infographics with tips to keep customers coming back.

Thursday, October 9, 2014

Going Outside of the Box to Improve Your Survey Design

It's not you, it's me! When will we stop blaming ourselves? The first step to changing something that might not be working is accepting the problem. Have you ever received a complaint from someone taking a survey you designed? You're not alone. In fact, we receive complaints almost every day of a survey gone wrong. Whether the survey is too long, too short, the questions are out of order or it does not provide an open end area to give feedback - there are many things that can send survey respondents down the wrong path. Not only can these holes leave a negative and/or feeling of confusion for respondents - they can also take a toll on the accuracy of the data you receive from your surveys! Continue reading to see an outside of the box way to give your survey design a test drive with TryMyUI - a cool company we recently acquired.

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