Product & Service Innovation
Accelerate innovation, co-create new products and services, and deliver a seamless customer experience to seize new growth opportunities.
When it comes to launching a new service or product, extraordinary amounts of time, research and funds go into the preparation and launch.
Yet many concepts end up missing the mark or failing altogether. With more and more pressure to stay ahead of the competition and remain relevant and interesting, innovation is more important than ever.
When business models revolve around what your target audience wants and need, the risk of launch is drastically reduced. At Hall & Partners, we use innovative technology and a customer-centric approach to market research to not only lower this risk even further but significantly increase revenue, profit and brand sentiment during a launch.
Lowering failure rates of product and service launches
The failure rate of new products and services has always been high, reminding us that not all innovation is good. All too often, brands get carried away with what they want out of new products or services, forgetting to carry out valuable market research to determine if it is something people actually need, want, or are willing to pay a premium for.
Businesses and brands continue to underestimate the value and importance of every single customer interaction, as these touchpoints and channels become a key differentiator for customers, business professionals, and patients.
A successful customer experience (CX) strategy should be at the heart of every brand, product, and service innovation from perception to intention, retention to loyalty.
Finding growth opportunities using technology and innovation is one of our specialities and Hall & Partners. We can help your company reach new heights and new markets, making a huge difference to revenue, profit and brand sentiment along the way.
Rapidly develop new ideas for your product or service
Whether you’re looking to update existing products ready for a relaunch, or wanting to make the most out of a new market introduction for a fresh service, our innovation team can help.
While our processes are never exactly the same, we tailor our projects to ensure full flexibility to increase the chances of our innovations being a success.
How we help you
Understand the cultural context and identify unmet category needs
Develop product and service offerings through co-creative idea generation and concept testing
Predict adoption curves, future sales, and impact on existing products
Develop a brand, customer or patient experience to suit every touchpoint and channel
Our approach to effective product and service innovation
Our fluid, co-creative service offerings are purpose-built for every phase of your new product development cycle. Our innovative market research techniques include:
- Diversity workshops and focus groups
- Co-creative project sprints
- Rapid concept development
- Mobile self-ethnography
- Hybrid-qualitative quantitative testing
- Social forecasting, and segmentations
We take a customer-centric approach to help you identify and launch consumer products and services that resonate with your audience and inspire growth.
Helping a household goods manufacturer leverage the strength of germ killer.
Looking at different Tech service bundles and pricing impact.
Evolving the world of competitive surfing.
Common questions about product and service concepts
In our experience, the most common reasons why a product development process fails includes:
- Trying to fix a non-existent problem
- Wrong positioning or pricing
- Targeting the wrong market or audience
- Incorrect product launch timing
- Poor product concept and customer experience
- Insufficient customer support
- Underestimating the competition
Brands need to continue to morph and change to stay relevant. It is the responsibility of every brand to keep ahead of competitors through innovation, ensuring their offerings remain relevant and that people get the products and services they deserve.
We map out the existing customer journeys and experiences. We then work with you to identify the optimum experience for what people ‘See’, ‘Feel’, ‘Think’, and ‘Do’ before, during and after purchase.
We recognise that different people have different experiences and paths to purchase. Our experts identify the most impactful touchpoints to personalise, ensuring we engage with your customers at every meaningful step to maximise the potential for transactions.
We start by using our cultural analysis and diversity workshops to shape the language and cultural context of the category. We then use our multi-cultural framework to identify which cultural strategy you intend to follow and undertake message testing using conjoint to determine any cultural sensitivities.
We then run ‘test-and-learn’ scenarios to explore the optimal product innovation package to maximise your preference, sales, and share. We run these specific scenarios at both a global and local level to understand how varying product innovation and price packages resonate with your global and local audiences.
If you’d like some more inspiration when developing your service or product portfolio, we’ve collated some useful resources for you:
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Accelerate product & service innovation
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