Written by Adrian Slywotzky wrote a book titled, “Value Migration” where he discussed the flow of economic and shareholder value away from an outmoded business design toward others better equipped to create utility for customers and profit for the company. He provided three types of examples, where value flows between industries, between companies and between business designs within a […]
READ MORE »Seven Principles of Marketing Innovation Strategy
There are those who see their marketing function as a commodity and try to differentiate through the recruitment and management of their talent and/or through their marketing mix, or brand. For those who believe marketing processes can be differentiated, here are seven key principles for developing a marketing innovation strategy. Incremental or Radical Innovation - should […]
READ MORE »Marketing Innovation and the Training Challenge
A new challenge CMOs face is the practice of marketing is changing faster than our educational system’s ability to train students on the changes. Advances in marketing science, marketing engineering and marketing technology are occurring in shorter and shorter intervals and they are happening concurrently. The problem will only get worse as marketing technology companies are able […]
READ MORE »Seven Techniques for Overcoming the Challenges of Adopting Emerging Technology
For those interested in innovating the practice of marketing, there are many challenges in adopting emerging technologies. Here are seven ways to overcome those challenges. 1. Don’t Evaluate all Technology the Same Way – Because most new technology is IT related, we tend to take an IT approach to evaluating the adoption of new technology. […]
READ MORE »Three Ways You Can Shape the Future of Marketing
When it comes to marketing innovation, too many companies are passive receivers of technological advancement. Vendors are always pitching technologies and solutions. But you don’t have to limit the innovation of your marketing to what is being pitched. And taking the approach of adopting new technology only when “everyone else is doing it,” has proven […]
READ MORE »Marketing Innovation and Financial Strategy
As companies develop a marketing innovation strategy, which includes incorporating advances in marketing science, marketing technology and marketing engineering, they are more likely to develop a way of doing marketing or businesses processes that are different from their competitors. They are creating intellectual property, trade secrets and reusable assets. These will have balance sheet implications and change […]
READ MORE »Marketing Innovation and Paradigm Shifts
Besides the technology changing, marketing paradigms are shifting such that the way we think about marketing is changing. Most remember the admonition to move from being product centric to customer centric, or the choice being between a “push” strategy and a “pull” strategy or doing both. There wasn’t a neither choice. Marketing innovation can expand […]
READ MORE »The Five Challenges of Adopting Emerging Technology
If common sense is not so common, then vision is even more difficult to find. It is very easy to pick apart what is, it is much more difficult to see what isn’t. Most people don’t have the vision to see the promise of emerging technologies, and/or don’t want to take the risk to achieve […]
READ MORE »Ten Ideas on How to Use Imitation to Create an Effective Marketing Innovation Strategy
In marketing, you never want to be a “me to” product or service, even if you are selling commodities. So it might come as a surprise to see that imitation has a place in a marketing innovation strategy. It does not make strategic sense in every industry or for every company to be a first […]
READ MORE »Knowledge Management and Marketing Innovation
Let’s start with a definition of knowledge management Gartner defines Knowledge Management as: “Knowledge management is a discipline that promotes an integrated approach to identifying, capturing, evaluating, retrieving, and sharing all of an enterprise’s information assets. These assets may include databases, documents, policies, procedures, and previously un-captured expertise and experience in individual workers.” Clearly having all of a firm’s intellectual property and […]
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