Deloitte’s new “Human Innovation Index” examines which innovations companies can use to inspire consumers. According to the index, Amazon, Apple, and Netflix are the most successful.
- As Deloitte’s “Human Innovation Index” shows, more than a third have already tried out new products or services.
- Consumers rely on the safety promises of strong brands regarding innovations.
- Amazon, Apple, and Netflix are most successful in convincing customers.
Every year companies invest more than 100 billion euros in research and Innovation. This serves to develop innovations. According to calculations by the federal government, in 2020 alone, it was a total of 106 billion euros. And despite a corona-related decline, this is a significant increase of over 60 percent since 2009. “Sustainability, energy independence, digitization, and growth – we cannot achieve all this by maintaining the status quo. Companies compete for ever better, more efficient, new technologies, products, and services”.
Looking For Innovations That Inspire People
But which of the numerous innovations that companies are developing excite people? The “Human Innovation Index” by Deloitte and YouGov is dedicated to this question, examining which companies manage to get people to do something new.
“The innovation activities of companies have been well studied.” “Much less is known about how many of these innovations reach people. Who creates innovations not only for their own company (corporate Innovation) but in such a way that they inspire people and try out new things.”
More Than A Third Try Out Innovations
More than 6,000 respondents, more than 39 percent, say they have recently tried a new product or service from a company—another 16 percent plan to do so. “If you look at the average innovation expenditure of over 1,000 euros per inhabitant, this can only be a partial success”.
Some companies successfully create innovations and get people to try them. The top 15 are shown in the Human Innovation Index: pure corporate innovations only have an internal effect. On the other hand, human innovations have brought about growth over the years. It is all the more important to understand which innovations motivate people to buy. A prosperous future beckons to those who have cracked the human innovation factor.
New Products Always Attract New People
8.7 percent of people have tried a product launched in the last five years, and 26 percent of a product was established during the previous ten years. This means: The best new brands, products, or services do not just kindle a flash in the pan. They attract new people over the years, retain their novelty and appeal, and eventually become mainstream.
Brands like Netflix, HelloFresh, and Spotify have been around for over five years – and are still at the forefront regarding getting people to try things out. However, established brands such as Telekom, Otto, or the brand evergreen Miele also encourage consumers to try new things.
Innovations Can Be Anything But Boring
Innovations only win people over if they move them emotionally. Brands like Picnic and Spotify convince by evoking the feeling of freedom – that’s what more than 30 percent of respondents answered.
Companies like Google, Siemens, and Dyson make users feel unique with their high-tech products. Miele and Etsy, the online platform for handmade items, are the only ones who manage to convey a sense of sensuality with their innovations (approx. 25 percent).
Despite all the diversity, a pattern quickly becomes clear: products and services that win an emotional key usually unite new people: fun is the most frequently evoked emotion (for 29 percent of all respondents). For products less than five years old, the figure is even 43 percent. And three brands stand out here with extra fun. The streaming providers Disney+ and Netflix naturally embody endless entertainment. But Otto’s fashion retailer Bonprix is also playing on a similar level. Innovations rarely win people over only superficially. For most winning brands, that sense of excitement is backed up by an understanding of “everything is fine” (25 percent) and reassurance (19 percent). Brands that do this particularly well are Spotify, Etsy, Miele, and Kaufland.
Innovations Offer Platform And Reputation Advantage
The combination of fun and security is served perfectly by the major online platforms. Users know them and know that everything is fine here (Amazon 28 percent). This allows them to have fun (Amazon 40 percent).
The reputation of the big and familiar brands also helps: Telekom, Miele, Otto, or Bosch give people a feeling of security (over 30 percent). This essential trust makes many people willing to take the risk of trying a new product or service.
In conclusion, Virginie Briand, Co-Head of Deloitte’s Creative Consultancy, states: “Innovation involves new technology first. But it’s meaningless if it doesn’t change people, too. Only that makes them decisive for all companies that shape growth and markets.”