Innovation
Innovation in Marketing
Was reading over a document from a CMO that had recently hired me to some research work for her.
In the document (really a memo), she kept informing the reader (her staff and company board) that for her company to succeed, there had to be innovation in the marketing effort(s).
Doing some quick checks on the Internet, marketing innovation is a hot topic out there among marketing professionals.
I do consider myself a marketing professional (doing this for 20 years), but, I have never been one to "glom" onto a belief or specific way to do something. I guess that's why I am such a success at so many levels, because I don't follow what everyone else does, I do what I think is correct (and 99% of the time, it provides incredible success).
So, back to the marketing innovation (enough about me - you are here to learn or gain insight) that I am seeing and reading about.
Throughout my life, in reading books, meeting people, etc., innovation was constantly used in conjunction with entrepreneurs and inventors - these people were brilliant and thought of new products and/or services that have never been thought of before - thus allowing our life to change and become more profitable (be it with time, money, or whatever we consider to be "profit").
In other words, innovation was used for something "new" that "impacted" our lives.
Does innovation in marketing mean that it is new? Or impacts our life?
Is a new TV spot that makes us laugh, or think, innovative? A paper ad? A web banner?
I don't think so. We have to gain the attention of our audience - if it is by doing something new, then, yes, that is innovative. But, what, in the past decade, or 25 years, have we seen as "new".
Let's look and think:
- Web banner ads (okay, innovative the FIRST time, but, now? okay, now we use flash instead of HTML, but, was that innovative, or just moving to the next level of advertising (web banner))
- Advertising on race cars (innovative the first time, but, now?)
- Logo's on our clothing? Okay, Gap and Old Navy made it a success and it was very innovative, but, now, it is same old, same old
- Running an ad before a movie starts - innovative the first time it was ever done, but, now, it is an irritant
You get the idea - innovation occurs very rarely in the marketing industry. Innovation in technology occurs once a day; innovation in marketing occurs once a year.
Capturing the attention of a market is 99% done by using proven marketing methodology (previous marketing programs).
So, back to how I started - CMO's and everyone else saying "We need marketing innovation" is a non-starter for me. Yes, it may occur, and g*d bless you if it occurs during your watch.
But, most of the time, you have a staff, a board, and mentors who have that "innovative idea" once a year or once a lifetime. If it occurs during a time when you can use it, when you have the funding, then, yes, you have a marketing innovation.
But, deciding to give away an "orange" t-shirt with your logo on it, instead of the cheaper common white t-shirt, is not innovation.
Do the market research.
Do the market segmentation and studies.
Know your market.
Plan your marketing strategy around that market.
And implement your marketing plan. If it is using something NEVER BEFORE SEEN in the market, then, you may have innovation. But, having a caveman as your spokesperson is not innovative, it is new and unique (and successful!).
Convincing your market to purchase your product has nothing to do with innovation (in my opinion); it has everything to do with communicating your message correctly and to the right audience.
If, using a sock puppet puts your product on the map, yes, that is innovative, but, does it continue to speak to your audience and drive sales.
Sometimes, a $10K ad, every week, in the New York Times will drive more sales then spending $10M on a new innovative way to market to your audience.
Don't let the "innovation" hype scare you - if you know marketing, if you know how to speak to your audience, then, the innovation will follow - you don't have to lead with it.