Disruptive innovation is exciting. Big breakthroughs like Netflix, Zipcar, and the iPad, generate big headlines. However, it’s important to recognize that many of the most profitable innovations aren’t disruptive at all.
A classic example of non-disruptive innovation is the addition of wheels to suitcases. Many thousands of years after both the suitcase and wheels were invented, the two products were combined in 1970 to make life easier for travelers. This small, incremental change made a big difference and gave suitcase companies a way to differentiate themselves. Incremental innovation is defined as improving, reconfiguring, or building upon a form or technology that already exists. By focusing on incremental innovation, companies can align existing offerings with current trends, expand on what they already do well, and continuously create value.
Many companies practice incremental innovation. Let’s take a look at a few recent examples that demonstrate the value of this approach:
- Google Instant — Just when you thought the browsing experience couldn’t get any better, Google launches their new search feature Google Instant. This new predictive feature displays results as soon as you start typing. Google estimates that this will save users approximately 2-5 seconds per search. The feature has been so popular that it has inspired programmers to create their own versions, including YouTube instant and Yahoo’s new Rich Search Assist. Read the rest of this entry »