ACE Rent A Car Has Highest Innovation Equity

August 6, 2015 Leave a comment

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!

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About Bruce Temkin, CCXP
I'm an experience (XM) management catalyst; helping organizations improve results by engaging the hearts and minds of their employees, customers, and partners. I enjoy researching and speaking about these topics. I lead the Qualtrics XM Institute, which is the world's best job. We're igniting a global community of XM Professionals who are inspired and empowered to radically improve the human experience. To achieve this goal, my team focuses on thought leadership, training, and community building. My work is driven by a set of fundamental beliefs: 1) Everything starts and ends with human beings, so you need to understand how people think, feel, and behave; 2) XM is a discipline that needs to be woven throughout an organization's entire operating fabric; and 3) Building the XM discipline requires a combination of culture, competency, and technology.

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