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HighKey’s digital ecosystem has enabled it to bypass the traditional model of product innovation. That speed to market and real-time feedback the digital marketplace provides is what empowers the company to innovate as much as it does. Joe Ens, co-chief executive officer of HighKey, Orlando, Fla., has seen first-hand how the traditional route of product development at most large CPG companies can miss the mark.
“Consumers don’t know what they want, and you’ll give them what they ask for, and it’s a subpar way to innovate,” he said in this episode of Since Sliced Bread. “Very rarely will you orchestrate something that matches the insight you thought you had, and then you go to market in a really expensive way through the retail model, and it’s fraught with risk and expense.”
While HighKey makes its move to the retail store shelves, that’s where the company’s growth will be found. But innovation will always be driven by what happens online, where the company found its following.
“It’s quicker; it’s low risk, and it’s rooted in the growth mindset culture that informs how we go to market at a holistic level,” Mr. Ens explained. “There’s two contrasting models of innovation, and the speed and risk profile of ours is superior to the traditional model.”
Listen to this episode of Since Sliced Bread to learn how being a digital native brand informs HighKey’s innovation process and the benefits of a robust online community of consumers.