ACE Rent A Car Has Highest Innovation Equity

How much is it worth to have customers willing to try your new products?

There’s a huge advantage in having customers who are looking to try your next offering versus customers who want nothing to do with your latest and greatest. That’s why we created the Temkin Innovation Equity Quotient (TIEQ).

The TIEQ is based on a simple question: “If <COMPANY> announced a new product or service, how likely would you be try it right away?” Respondents can select a response from 1 (Extremely unlikely) to 7 (Extremely likely), and we calculate the TIE Quotient as the percentage of 6s and 7s for each company.

In January of this year, we collected feedback from 10,000 consumers and ended up with at least 100 responses for 293 companies across 20 industries (see full list of companies (.pdf)). As you can see in the graphics below:

  • Firms with highest TIEQ: ACE Rent A Car, JetBlue Airlines, Virgin America, Trader Joe’s, Sony, Apple, Victoria Secret, Apple, H-E-B, and Holiday Inn.
  • Firms with lowest TIEQ: Citibank, Ace Hardware, BB&T, U.S. Bank, Frontier Communications, Cox Communications, Consolidated Edison of New York, Comcast, and Citizens Bank.

Purchase full 2015 TIEQ dataset for $195PurchaseDataButton

1507_InnovationTopBottom 1507_InnovationIndustryLeadersLaggards

Purchase full 2015 TIEQ dataset for $195PurchaseDataButtonDownload this sample excel file (.xls) to see what’s in the dataset.

The bottom line: Build up your Innovation Equity!

About Bruce Temkin, CCXP
I am a customer experience transformist, helping large organizations improve business results by changing how they deal with customers. As part of this focus, I examine strategy, culture, interaction design, customer service, branding and leadership practices. I am also a fanatical student of business, so this blog provides an outlet for sharing insights from my ongoing educational journey. Simply put, I am passionate about spotting emerging best practices and helping companies master them. And, as many people know, I love to speak about these topics in almost any forum. My “title” is Managing Partner of the Temkin Group, a customer experience research and consulting firm that helps organizations become more customer-centric. Our goal is simple: accelerate the path to delighting customers. I am also the co-founder and Emeritus Chair of the Customer Experience Professionals Association (CXPA.org), a non-profit organization dedicated to the success of CX professionals.

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