We previously summarised the upcoming HFSS legislation and discovered that they create a golden opportunity for innovation, so companies can get ahead.
This article takes you through how to go about conducting this winning innovation.
(Want to hear expert insight on NPD in the age of HFSS? Watch The Grocer’s webinar featuring Vypr Founder Ben Davies here)
How Your Company Can Succeed through Innovation
The path to success is to move forward by innovating and optimising, instead of resisting changes by staying stagnant and becoming too risk averse, or only making small changes to products.
There has never been a better time to invest in innovation.
How to Make Innovation Successful
Moving the nation to a healthier diet requires improved consumer consultation, to ensure all NPD solves for consumer needs, especially when consumers are more cost-focused than ever.
Innovation failure rates in CPG are already quite high, so how can you make sure innovation works for you?
The answer is through Innovation Intelligence.
What is Innovation Intelligence?
Innovation Intelligence is here to transform the way we create new products, bringing light and clarity to the innovation process, in the form of consumer intelligence.
Using intelligence to drive and deliver product innovation means:
- Decisions based on robust, reliable data
- Less waste – financially and physically
- And ultimately, increased product success
Innovation Intelligence solves the issues of currently inefficient product development processes, and allows companies to adapt to HFSS legislation.
How Will Innovation Intelligence help Companies Adapt?
Businesses can make evidence-based decisions with Innovation intelligence, which they can use to develop products in an Agile way.
Change requires innovation along with consumer intelligence. Yet not just any innovation – Agile Innovation.
Agile is a methodology that incorporates Innovation Intelligence and focuses heavily on:
- Micro-testing at every stage with stakeholders, crucially consumers, to validate ideas before they become a potentially expensive failing reality – both financially, and environmentally.
- Less team stress and pressure
- More confidence in your ideas
- Reduced risk when innovating
And so better results and ROI.
It will also allow companies to know which products they should reformulate in a guided way, instead of ‘innovating blind’ by guessing and hoping for a big win.
Discovering mistakes faster through iterative testing makes them cheaper and focuses investment on winning ideas. Frequent early testing to inform decisions also creates learning opportunities that improve future ideas.
Using an Agile methodology, powered by Innovation Intelligence, will mean products have been fully tested and ideas optimised before they hit the shelves.
This empowers companies with the confidence to conduct the R&D-style Innovation that will lead to the big wins of the future, for years to come.
Get Started with Innovation Intelligence
Now is the time for your business to start incorporating Innovation Intelligence into NPD processes, to become better connected and more responsive to the consumer, in an Agile way.
The Vypr platform delivers powerful Innovation Intelligence straight into the hands of those that need it, and:
- Provides robust consumer data allowing you to optimise your NPD
- Is built on Behavioural Science (the study of consumer behaviour), turning your decision-making into a science
Innovation and consumer-driven intelligence are going to be the pillars of success during this changing landscape.
- Knowing the customer is at the heart of the food system’s evolution, we believe that Innovation Intelligence and Agile Innovation, the NPD methodology that increases consumer testing and validation, will carve the pathway for the food industry to facilitate the changes prompted by the HFSS restrictions
Power your process with Innovation intelligence, so you can change with the times and develop optimised products that hit consumer needs.
To carry out the innovation that will drive growth and success, Innovation Intelligence is essential. It will transform product development, bringing light and clarity to the innovation process in the form of consumer intelligence. To find out more and see some consumer intelligence around the HFSS, download our free guide below.
Free Guide – The Ultimate Guide to Navigating HFSS Legislation
Find out more and get exclusive consumer intelligence by downloading our free guide – The Ultimate Guide to Navigating HFSS Legislation.
Discover exactly how to adapt to restrictions, and make the most of the golden opportunity to get ahead through innovation. This guide will reveal consumer insight around the topic and uncover how best to move forward, despite potential further changes in policy.