Many things about innovation frustrate executives, not the least of which is how best to gauge the success of their innovation efforts. As Boston Consulting Group's annual global survey of innovation illustrates, companies are relying on a variety of metrics to determine the success of innovation. Customer satisfaction was identified by the most firms as a key metric, garnering nods from half the survey respondents. What follows are the top five most popular metrics and the percentage of firms using them.
54 percentage of companies that use customer satisfaction to measure the success of their
47 percentage of companies that use percentage of sales from new offerings to measure their innovation success
44 percentage that use overall revenue growth as a measure of innovation success
32 percentage that identify increased margins as a measure of the success of their innovation
25 percentage that say number of new products or services is a measure of innovation success