Innovation is one of the most used buzzwords of our time – but most companies go about it the wrong way.
The Jobs to be Done concept explains that customers “hire” products to accomplish things – or better, jobs – in their lives. When the products that they’re currently using make it difficult to get a job done, they’ll start looking around, possibly firing those products in favor of new ones. Just think back to the time when there was no Lyft and Uber and you had to get transportation. It was raining, no cab stopped for you or you had to compete with others for one. When you were finally in a cab, you had to check to see if you had enough money with you, or if the driver accepted credit cards. Looking back, there were so many pain points around getting one basic job done: getting from point A to B.
“Jobs to Be Done: A Roadmap for Customer-Centric Innovation,” by Stephen Wunker, Jessica Wattman and David Farber is a guide book for moving your credit union forward on the digital transformation journey by considering which jobs your members need done. The team of authors claims that most companies are innovating the wrong way. They’re making what their customers say they want. This might lead to incremental innovation but it’s unlikely to ever disrupt a market. Steve Jobs famously said: “Customers don’t know what they want until we’ve shown them.” The key for credit unions might be asking why their members want specific things and developing products that members don’t even know they need.
The Jobs to Be Done framework was first developed by Clayton Christensen in his book “The Innovator’s Solution.” The “Jobs to Be Done” book moved from theory to practice by describing a consistent, repeatable step-by-step process. The authors believe that “to create innovation, it’s necessary to focus as much on the approach taken as on the ideas themselves.” In many ways, the “how” of innovation largely determines the “what”.
Follow the step-by-step guide of “Jobs to Be Done” and you will be able to deliver innovation and transformative solutions for your members that are original and profitable.
Join us at THINK 17 to get more insights from author Stephen Wunker, explore your members’ Jobs to Be Done and learn how you can deploy this framework for the benefit of your members.