Finding the Right Innovation Mindset: “Bleeding Edge” vs. “Fast Follower”
It’s the question every leader asks themselves: Should our innovation mindset be “Bleeding Edge” or “Fast-Follower”?
Too often, we find ourselves looking for the answer to this question in how we want to be perceived by our peers. There’s a desire to be first, fastest, best, or jaw-dropping.
Looking to our peers is the wrong direction.
Instead, we should look at our products and to the people who buy them.
Let’s explore two companies who take different approaches, and why their innovation mindset aligns with their product strategy.
Fast-Follower: Apple
Apple is one of the most successful “Fast-followers” because they’ve positioned themselves as a brand that makes technology that’s simple-to-use.
A Fast-Follower mindset gives Apple time to observe the products that their competitors put in market and gauge consumer reactions without the risk of missing the mark and making a poor first impression themselves.
It makes sense for you to be a fast-follower if:
Your customers have an expectation that your product is highly stable.
Your product garners repeated use that would be impeded by bugs.
You have competitors who offer products that are good substitutes for your own, which empowers you to learn from their tests.
The risks: if your product has close substitutes and your customers can easily switch, fast-following could mean you lose a customer who thinks you’re taking too long to innovate.
Bleeding Edge: Samsung
Samsung’s approach stands in contrast with Apple. Samsung is a company known for being “Bleeding Edge” and their large base of early-adopters gives them a proving ground of customers who find the “fun” in dysfunctional, incomplete product builds.
A “Bleeding Edge” mindset gives Samsung an opportunity to explore large jumps in technology for their high-end products, then taking their components with the best consumer reaction and folding it into their flagship devices.
It makes sense for you to be bleeding edge if:
Your customers are heavily engaged in your product development.
You can create dedicated “testbed” product sandboxes.
You’re attempting to overtake large competitors by taking a risk and making their technology feel inferior.
The risks: if your customer base perceives the “bleeding edge, test-and-learn” approach as sloppy development with unclear direction, they might seek out a more stable substitute from your competition.
