The Business ProblemNationwide revenue is on a positive trajectory, and they have consistently appeared in the Fortune 100. However, emerging market trends point to a flattening of growth. Core products are becoming commoditized, and start-up competitors are flexing agility and customer-driven solutions as a way to gain market share.
In a move to future-proof the business, Nationwide seeks to diversify its revenue and company portfolio via core, adjacent and transformative innovations to both defend the base and grow into new territories.
What We Did352 was brought in, not to simply do work on a product, but to help set up a large-scale, human-centered innovation organization within a company that hadn’t been driven by innovation in years. So, our collaboration happened across multiple fronts.
- We helped their Chief Innovation Officer develop and iterate the transformative innovation process with an eye towards confidence and speed to market, while also coaching Nationwiders who were new to innovation as a whole.
- We helped their innovation team evangelize the importance of customer-driven innovation, a critical mandate since development and go-to-market support rely on partnerships across the organization.
- Across several projects, we helped to identify, develop and launch transformative product opportunities with the goal of hundreds of millions in revenue over a five-year timeframe.
- We brought growth marketing to their innovation practice, transforming traditional brand marketing POVs into nimble, agile growth mindsets capable of building new markets and new customer bases from zero using an evidence based, test-and-learn approach.
- We introduced a scalable data strategy, leveraging modern analytics tooling and marketing technology to create better visibility into business, product and marketing performance, as well as insights into user behavior.
In a little under 18 months, we’ve helped to launch two new products to market with another two pending in the next 2-4 months. Three Five Two frameworks and processes have been implemented across digital product development, marketing and data science to accelerate the company’s transition from Big Brand behavior to customer-centered agility. And, we’ve worked to build a team of more-capable innovators, marketers and developers focused on delivering value for customers and bottom-line results for the company.
- Problem Identification
- Organizational Design
- New Venture Design
- Go-to-Market Strategy
- Growth Marketing
- Capability Building
- Primary Research
- Prototype Development
- Digital Product Design and Development