Marketing, Marketing strategy, Strategy

Innovations in Marketing

- Marketing, Marketing strategy, Strategy

We’re taught from a young age that most questions have only one answer. Exam questions often have multiple choice answers in order to steer us towards one solution. Unfortunately, the real world isn’t like that. For almost every problem there are several solutions and this is where innovations come in.

To make marketing more innovative you have to increase the number of ideas. Wacky, creative ideas that lead you ever closer to more radical solutions will make you stand-out and help achieve your objectives.

It’s only by producing great volumes of ideas that we can produce a great idea. Of course, it’s human nature to produce lots of ideas and then proceed to sort through them, analyse and sort out those with the most potential. Then the really promising ideas are examined from the point of view of feasibility, customer acceptance and profitability. If they pass these tests they move to prototype phase and only then are they tested in the harsh reality of the marketplace.

The interesting ideas should be kept in a database and allowed to incubate. When you revisit them you may find that you see a different way to adapt them or combine them into something worthwhile.

This all sounds like common sense. Yes? No. Most company innovation comes about in response to a single business challenge and once it’s resolved they move on.

Creating an environment where everyone feels they can contribute and generate ideas isn’t easy. Companies have to be comfortable that they may generate dozens of innovations only to find one solution. And then when those ideas didn’t make the final cut they should be archived and reviewed further down the line. Everyone in the organisation should feel free to suggest innovations in a climate of openness, without fear that their idea might be laughed at or thrown out.

The most innovative companies invest in several ideas simultaneously while carefully monitoring and testing them as they evolve. They chop the losers and pour more resources into the successful innovations. This can apply to products, services and even marketing campaigns.

Ideas to Innovate

Look at other great ideas and think of how you could improve on it or use it for something completely different.

Have several ideas running concurrently and work on one until you find yourself lacking inspiration. Then move on to the next one.  And on to the next. Suddenly you’ll find the inspiration you were looking for and you can go to the project that allows you to develop it.

Draw a picture of the problem and try to solve it pictorially. This often helps you see the problem with different eyes.

Set goals. Stretch yourself.  Force yourself to come up with more ideas than what you think you can.