It S Just Business, No One Dies. Charles Stack
Meeting Date: / February 19, 2016
Meeting Recap: / Marketing and Innovation: StartMart, Parker Hannifin & Progressive Insurance
In looking at the interplay of Marketing and Innovation, EDGE invited three leaders with varied perspectives on the issue – Charles Stack (StartMart Founder); Diane Artman (Division Engineering Manager, Parker Hannifin) and Rachel Lindberg (Manager, Brand Marketing, Progressive Insurance). In addition, the group had a very engaging discussion around GrafTech’s experimentation with Indiegogo.com (crowd-sourcing site) and its Kent State Hack-A-Thon event – both helping to engage a broader audience in new product development.
While it’s hard to replicate the many different conversations that took place with the leaders from 14 different companies wrestling with innovation, we have tried to capture some of the take-aways and thoughts below. Special thanks to our presenters, and we welcome new participants from Meggitt Aircraft Braking System.
Favorite quotes of the day:
- “Success is when you have engineers thinking like marketers, and marketing thinking like engineers.” – Diane Artman
- ”Find a new way of positioning existing products in order reach new markets. Progressive identifies and segments pivotal times in people’s lives and targets its offerings to reach people at those times.” – Rachel Lindberg
- “How many of you export to other countries? (many) How many of you have your website in multiple languages? (none) There’s a take-away.” – Charles Stack
- “It’s just business, no one dies.” – Charles Stack
Key Takeaways:
- Rapid iteration is key to success | Reinforcement of cycles of learning
- Importance of Minimum Viable Product (MVP) - 3
- Sprinting – not worrying about what you don’t know
- Agile Development/technologies - 4
- Learn from other industries [agile software]
- Get engineers talking to customers
- Customer focus - field visiting for product deficiencies, etc.
- Proactively determining customer decision points and mind set
- Customer values and expectations are decision points
- Need leadership alignment/ New products need to be supported from the top
- The use of Hack-a-thons in product development - 2
- Innovation in processes to change the culture
- Lessons from the GrafTech launch of 2Degree jacket on Indiegogo
- Use rapid iteration to implement new ideas
- Learn Innovation Engineering system
- Look at minimumviable products (MVP)
- Identify our “innovation scout”
- Share customer needs with engineering
- Seek out and attend hack-a-thons
- Learn how Agile methodologies differ from the IE approach
- Marketing functions – review current efforts
- Place descriptions of startup products on StartMart website
- Cultural change | Aversion to innovation
- Growth
- Balance of resources with everyday demands
- Time needed for innovation
- Continuing to manage new projects while maintaining old
- Defining, creating marketing team and channels
- Sticking with Innovation Engineering – support from the top
- Acting on the results coming out of the system
- Innovation still #1 as our products are being commoditized
- Innovation in leadership
- Office environment
- How to win hearts and minds of employees
- How to go from knowledge to implementation
Resources:
(Slides in DropBox for registered participants) / InnoQuest Roster; Slides: EDGE Overview and Parker Slides
Charles Stack, (StartMart Founder);
Diane Artman, Division Engineering Manager, Parker Hannifin
Rachel Lindberg, Manager, Brand Marketing, Progressive Insurance
Reminders: / 3/2: The Engaged Workplace: Where Everybody Matters (LCCC)
4/20: Additive Manufacturing | Mass Customization (Tech House)
Contacts: / Chris Keller|; Grant Marquit |
Attendees: / Joe Majewski, Ben Invergo (Chromascape);Nico Machi (EYE Lighting); John Kreft (Gebauer);Helen Mayer, Julian Norley(GrafTech Intern’l); Jason Brand (Grand River Rubber & Plastic); Mike Shaffer (Kinetico); Bob Schmidt (MAGNET); Joe Ambrose, Bob Dirgo, Kyle Hamblin (Meggitt Aircraft Braking Systems);Ian Cameron, SnjezanaPalavra, Jeff Scott (Mold Masters Intern’l);Chaz Rau (Roll-Kraft); Greg Cebular, Chip Gear (The Technology House);Ellen Zerucha (Tremco); Lacey Kogelnik (Baldwin Wallace CIG); Joseph Fagnilla (Case Western Reserve University); Charles Stack (StartMart); Rachel Lindberg (Progressive Insur.); Diane Artman (Parker Hannifin);EDGE: Brittany Bush, Jane Flaherty, Chris Keller, Grant Marquit, Sarah Shoaff
EDGE | 6801 Brecksville Rd. | Suite 160 | Independence, OH 44131
EDGE drives growth for mid-sized companies by bringing together their leadership teams to share best practices and inspire each other to pursue the biggest opportunities. EDGE is a 501(c)(3) non-profit and is focused on helping mid-sized companies strengthen their leadership teams in order to take their companies to the next level.