Driving Growth with Innovation: A Case Study of The Methodologists
Discover how The Methodologists, leveraged the Innovation Ambition Matrix to spur growth and expand their reach. Learn from their strategic use of core, adjacent, and transformational initiatives to create a balanced innovation portfolio.
In the ever-evolving digital landscape, driving innovation is crucial for any organization to stay competitive and relevant. This article delves into how "The Methodologists", a renowned online publishing journal, leveraged the Innovation Ambition Matrix to spur growth and diversify their offerings.
The Methodologists ventured into a new project named "The Methodologists Research Academy" with an aim to enhance the quality of their scientific and knowledge-based articles and expand their reach through innovative mediums like podcasts and short videos. They utilized the Innovation Ambition Matrix, a strategic tool that aids in managing innovation effectively.
Initially, they allocated 70% of their resources to core offerings. This involved enhancing the readability of their articles and securing copyright ownership of all publications. This strategic move ensured their high-quality content remained protected and exclusive, fortifying the credibility and value of their brand.
Next, adjacent efforts were undertaken with 20% of the resources. The Methodologists curated special issues that covered a wide range of knowledge and practical business topics. This step not only diversified their content but also catered to a wider audience, expanding their reader base significantly.
In the quest for transformation, 10% of their resources were invested in launching The Methodologists Research Academy. This online institution was dedicated to providing research education, offering self-paced courses on research methodologies, innovation, data quality, and data analysis. Serving as a beacon to aspiring researchers, this innovative platform offered comprehensive curriculums tailored to the evolving research landscape.
Simultaneously, they explored other innovative mediums for content delivery, launching a podcast and engaging short videos. This transformational move broadened their reach and made their high-quality content accessible to a larger audience.
By implementing the Innovation Ambition Matrix, The Methodologists were able to maintain a balanced innovation portfolio. This strategic approach resulted in steady growth, a substantial increase in their readers and learners, and solidified their position as a leader in the online publishing and education industry. The case of The Methodologists serves as a testament to the power of strategic innovation management, demonstrating its pivotal role in driving growth and staying competitive in the digital age.
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