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!

Written by 

I am an experience management transformist, helping organizations improve business results by engaging the hearts and minds of their customers, employees, and partners. My "job" is Head of the Qualtrics XM Institute. The Institute is still being established, but our goal is to help organizations around the world thrive by mastering Experience Management (XM). As part of this focus, I examine strategy, culture, interaction design, customer service, branding and leadership practices. And, as many people know, I love to speak about these topics in almost any forum. Prior to joining Qualtrics, I was managing partner of Temkin Group (leading CX research, advisory, and training firm), co-founder and chair of the Customer Experience Professionals Association (CXPA.org), and a VP at Forrester Research. I'm a fanatical student of business, so this blog provides an outlet for sharing insights from my ongoing educational journey. Check out my LinkedIn profile: www.linkedin.com/in/brucetemkin

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