{"id":13657,"date":"2015-12-02T00:00:00","date_gmt":"2015-12-02T00:00:00","guid":{"rendered":"https:\/\/blog.planview.com\/report-new-formula-business-innovation\/"},"modified":"2015-12-02T00:00:00","modified_gmt":"2015-12-02T00:00:00","slug":"report-new-formula-business-innovation","status":"publish","type":"post","link":"https:\/\/blog.planview.com\/report-new-formula-business-innovation\/","title":{"rendered":"REPORT SUMMARY: Edelman&#8217;s New Formula for Business Innovation"},"content":{"rendered":"<div class=\"feature-image\"><img decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/media.planview.com\/spigit-blog-media\/wp-content\/uploads\/2015\/12\/iStock_000039433878_Large-e1436995731633-1080x675.jpg\" alt=\"\"><\/div>\n<p>Business innovation is a major focus for all companies. But how can you ensure that the changes you&#x2019;re making, from new processes to new products, are being received how you want them to be?<\/p>\n<p>According to <a href=\"http:\/\/www.edelman.com\/insights\/intellectual-property\/2015-edelman-trust-barometer\/global-results\/\">this 2015 report by Edelman<\/a>, the answer is age-old: <strong>build trust<\/strong>. Findings were pulled together from a survey of over 33,000 industry professionals around the world. Edelman examined how companies can build trust with consumers and prospects, and&#xA0;the specific attributes that boost trustworthiness in products, services, and organizations overall. And, understanding how your company is currently perceived by the market is crucial to figuring out how to organize business innovation efforts going forward.<br \/>\n<strong>Key Drivers and Actions<\/strong><br \/>\nThe report highlights&#xA0;five &#x201C;performance clusters&#x201D; that businesses should focus on: integrity, engagement, products and services, purpose, and operations. Of these, data suggests that the best opportunities for brands to build trust in their business innovation efforts exist at the intersection&#xA0;of integrity and engagement.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-4079\" src=\"https:\/\/media.planview.com\/spigit-blog-media\/wp-content\/uploads\/2015\/12\/Screen-Shot-2015-12-01-at-10.28.06-AM.png\" alt=\"edelman rpt_innovation trust_image 1\" width=\"335\" height=\"314\"> <\/p>\n<p>How can your business take advantage and demonstrate trustworthiness? Based on companies&#xA0;that perform well in these areas typically:<\/p>\n<ul>\n<li>Create ethical business functions<\/li>\n<li>Take responsibility to address issues or crises<\/li>\n<li>Have transparent and open business practices<\/li>\n<li>Listen to customer needs and feedback<\/li>\n<li>Treat employees well<\/li>\n<li>Place customers ahead of profit<\/li>\n<li>Frequently communicate on the state of the business<\/li>\n<\/ul>\n<p>&#xA0;<br \/>\n<strong>The Secret Sauce for Successful Business Innovation<\/strong><br \/>\nOnce you&#x2019;ve established the foundation for building trust, Edelman&#x2019;s findings suggest that there is, in fact, a formula you can follow for successful business innovation. And, it turns out, it&#x2019;s <a href=\"http:\/\/www.edelman.com\/insights\/intellectual-property\/2015-edelman-trust-barometer\/trust-and-innovation-edelman-trust-barometer\/\">actually pretty simple<\/a>:<\/p>\n<p>1. <strong>Bring truly unique information to the table.<\/strong> In other words, don&#x2019;t regurgitate competitor research. Don&#x2019;t expect vague anecdotes to&#xA0;be acceptable replacements for concrete results and benefits that you offer. <strong>Do<\/strong> be a genuine thought leader.<\/p>\n<p>2. <strong>Focus on tangible solutions.<\/strong> Companies that address both business and social challenges are perceived as trustworthy far more often than those that are clearly only interested in making a profit.<\/p>\n<p>3. <strong>Have integrity.<\/strong> Be ethical, be accountable, and be transparent.<\/p>\n<p>4. <strong>Be engaging.<\/strong> This is what Edelman considers the &#x201C;multiplying factor.&#x201D; They suggest a consistent drumbeat of communication about your company, initiatives, and products in order to keep consumers&#x2019; attention.<\/p>\n<p>Interested in learning more? <a href=\"http:\/\/www.edelman.com\/insights\/intellectual-property\/2015-edelman-trust-barometer\/global-results\/\">Read the full report<\/a> or <a href=\"http:\/\/www.edelman.com\/insights\/intellectual-property\/2015-edelman-trust-barometer\/trust-and-innovation-edelman-trust-barometer\/\">view the infographic<\/a>.<\/p>\n<p>&#xA0;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business innovation is a major focus for all companies. But how can you ensure that the changes you&#x2019;re making, from new processes to new products, are being received how you want them to be? According to this 2015 report by Edelman, the answer is age-old: build trust. Findings were pulled together from a survey of&#8230;<\/p>\n","protected":false},"author":103,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[1],"tags":[],"class_list":["post-13657","post","type-post","status-publish","format-standard","hentry","category-innovation-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.8 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>REPORT SUMMARY: Edelman&#039;s New Formula for Business Innovation - Spigit<\/title>\n<meta name=\"description\" content=\"Read the 2015 Edelman Trust Barometer report to learn what 33,000 people in 27 countries had to say about establishing trust in business innovation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.planview.com\/report-new-formula-business-innovation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"REPORT SUMMARY: Edelman&#039;s New Formula for Business Innovation\" \/>\n<meta property=\"og:description\" content=\"Read the 2015 Edelman Trust Barometer report to learn what 33,000 people in 27 countries had to say about establishing trust in business innovation.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blog.planview.com\/report-new-formula-business-innovation\/\" \/>\n<meta property=\"og:site_name\" content=\"Planview Blog\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/pages\/Planview-Inc\/89422974772\" \/>\n<meta property=\"article:published_time\" content=\"2015-12-02T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/media.planview.com\/spigit-blog-media\/wp-content\/uploads\/2015\/12\/iStock_000039433878_Large-e1436995731633-1080x675.jpg\" \/>\n<meta name=\"author\" content=\"Guest Blogger\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Planview\" \/>\n<meta name=\"twitter:site\" content=\"@Planview\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Guest Blogger\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/blog.planview.com\/report-new-formula-business-innovation\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/blog.planview.com\/report-new-formula-business-innovation\/\"},\"author\":{\"name\":\"Guest Blogger\",\"@id\":\"https:\/\/blog.planview.com\/#\/schema\/person\/f7f863dba443d377f486441aeb7a0f62\"},\"headline\":\"REPORT SUMMARY: Edelman&#8217;s New Formula for Business Innovation\",\"datePublished\":\"2015-12-02T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/blog.planview.com\/report-new-formula-business-innovation\/\"},\"wordCount\":407,\"publisher\":{\"@id\":\"https:\/\/blog.planview.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/blog.planview.com\/report-new-formula-business-innovation\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/media.planview.com\/spigit-blog-media\/wp-content\/uploads\/2015\/12\/iStock_000039433878_Large-e1436995731633-1080x675.jpg\",\"articleSection\":[\"Innovation Management\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blog.planview.com\/report-new-formula-business-innovation\/\",\"url\":\"https:\/\/blog.planview.com\/report-new-formula-business-innovation\/\",\"name\":\"REPORT SUMMARY: Edelman's New Formula for Business Innovation - 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