Project Description
Magazine Publisher — Innovation Consulting Case
Developing and implementing an innovation strategy, process and organizational guidelines for a leading weekly publication
Challenge
- Leading brand of celebrity and human-interest stories (i.e., the corporation’s cash cow)
- Historical track record of innovation, balancing editorial and publishing requirements
- Stalled innovation due to perceived business risk, lack of innovation strategy and plan, inconsistent process and organizational issues
Action
- Diagnostic audit on current state (i.e., not lacking creativity and ideas)
- Strategy workshops to review innovation and brand extension best practices
- Customer framework (across consumers and advertisers – both corporations and their agencies) to inform target selection
- Strategic direction setting, informed by financial growth gap, strategic opportunity area definition and screening criteria
- Innovation process developed and piloted “real time” (including ideation, screening of new and on-going initiatives and organization enablers)
Result
- Prioritized strategic opportunity areas (where-to-play) and related innovation concepts (how-to-win) to fuel revenue growth, including innovation product plan roadmap
- Skills transference through collaborative approach
- Successful launch and implementation of several identified growth concepts
Learn more
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