jerryking + marketing + innovation   11

The New Innovator’s Dilemma: When Customers Won’t Pay for Better - WSJ
Aug. 15, 2017 | WSJ | By Denise Roland.

As the turmoil at Novo Nordisk shows, there are commercial limits to innovation. Nokia Corp. and BlackBerry Ltd. both lost their market dominance in smartphones because competitors beat them with major technological advances. Both firms are in the process of reinventing themselves.

In other cases, though, innovation has hit a wall. That is especially the case in some pockets of the pharmaceuticals business, where the scope for big improvements is narrowing.
CDC  Novo_Nordisk  innovation  pricing  marketing  strategy  insulin  diabetes  Denmark  Danish  pharmaceutical_industry  pharmacy-benefit_management 
august 2017 by jerryking
Why growth hacking is a foreign concept to many business owners - The Globe and Mail
MIA PEARSON
Special to The Globe and Mail
Published Thursday, May. 21 2015,

Quite simply, growth hacking is about focusing your energy in the right areas, being creative and using a combination of analytical thinking, social metrics and long-term thinking to power low-cost innovation....“The most successful businesses are always trying to find scalable and repeatable methods for growth, and their marketing strategies and tactics are rooted in data and technology,”...Use data analytics Markus Frind, CEO of PlentyOfFish and a speaker at Traction Conf, describes growth hacking for him as “applying data to marketing to achieve growth, via virality.”

Mr. Frind started his company in 2003 and grew it into one of the largest online dating sites in the world. With more than 100 million users and $100-million in revenue, he knows what he’s talking about. And luckily, Google Analytics is available to everyone.

For Mr. Frind, growth hacking boils down to a combination of “SEO, split-testing and understanding the virality of the users.” He believes understanding that made it “easy to see what was working and what wasn’t.”

By understanding where traffic is coming from and why people are seeking you out, you have a stronger understanding of your consumer – and you’re incredibly short-sighted if you don’t think your consumer defines your brand. This is a significant piece of the puzzle for growing a business.
analytics  customer_insights  effectiveness  growth_hacking  innovation  long-term  marketing  repeatability  SEO  short-sightedness  small_business  virality 
june 2015 by jerryking
Six habits of successful digital firms - The Globe and Mail
Jan. 07 2014, The Globe and Mail HARVEY SCHACHTER

Strategic Digital Marketing
By Eric Greenberg and Alexander Kates
(McGraw-Hill Education, 352 pages, $31.95).

the Amazon Price Check app on their mobile device, they can be in a store and, by scanning the bar code, see whether that item can be obtained more cheaply from Amazon, which offers lures like free shipping.......a phrase Google uses, "Zero moments of truth," to describe the critical times when consumers use the Internet to evaluate your offering. It might be the Amazon Price Check. It might be a consumer visiting your website and then plugging into social feedback from Facebook and Twitter. Prospects might scan reviews by recent purchasers. This information can be accessed quickly and could determine whether they will deal with you – now, or forever...... little attention is paid to return on investment when digital marketing strategies are developed. They believe that less than 10 per cent of large organizations base their digital initiatives on some measure of financial return on investment (ROI). Instead, the talk is of "likes" that might be generated by a Facebook campaign, or the followers and awareness a Twitter initiative might spark.

"If increasing sales is the ultimate goal, shouldn't we always evaluate digital marketing, and all marketing for that matter, through an ROI lens?"

1. Platform convergence, not product conformity. Companies such as Google, Amazon and Facebook are knocking heads, not operating in the separate niches where they started, but fighting to be the go-to platforms for online denizens.
2. Big data, not blind deductions.These companies rely heavily on data to drive their decisions, rather than guessing. They also run tests to see what might work, learning early from interaction with real customers.
3. Customer experiences, not conventional expectations. The best companies are fiercely focused on customers, relentlessly looking for new ways to refine and improve the customer experience.
4. Networks, not bulwarks.
These firms understand the importance of their networks, such as customers and corporate partners.
5. Top talent, not hired hands. These companies realize the importance of talent, and actively seek the best people they can find.
6. Innovation, not immediate gratification
Amazon  books  conformity  customer_experience  data_driven  delayed_gratification  digital_economy  digital_strategies  FAANG  Facebook  Google  Harvey_Schachter  habits  innovation  marketing  massive_data_sets  mobile_applications  moments_of_truth  networks  platforms  ROI  talent 
january 2014 by jerryking
Wanted: a new approach to inventiveness
Jul 27, 2010 | FT | Ranjay Gulati. Redefining innovation
entails breaking out of engineer-led obsessions with the technical
product details and thinking closely about the customer experience: not
just how well the product functions but also ancillary enhancements that
improve that experience, including packaging, delivery, post-sale
service or mktg. Examples: (1) Packaging vegetables in a single bag
requires limited technical innovation but solves an everyday problem for
busy people who want their families to eat healthy food. Bagged salads
have become a $ billion industry. (2) Similarly, Target, the retailer,
broke no new high-tech ground when it offered its own-brand crisps in
resealable bags - the idea is decades-old but Target successfully
addressed a nagging problem (keeping crisps fresh). Redefining
innovation requires involving more voices in the innovation process,
including fns. such as customer svce., mktg. and sales, that may have
played a limited role in the past.
ProQuest  innovation  HBS  customer_experience  UX  vegetables  Target  marketing  sales  problem_solving 
september 2010 by jerryking
How to sell innovation services?
23 August 2005 | CPH127 | by Magnus Christensson.It is through
looking at the patterns in customers’ stories that we can
provide our clients with a startlingly different and enormously useful
picture of the market and its direction — the most valuable input into
an innovation strategy that anyone can offer. If this (customer
research, future scenario) is our point of entry (and we deliver) we
might be able to overcome the first three issues and get the trust
needed to engage in further collaboration.
innovation  selling  marketing  howto  pattern_recognition  JCK  insights  customer_insights  storytelling 
june 2009 by jerryking
Top entrepreneurs talk about how to keep your customers, and find opportunities, in tough economic times
MAY 11, 2009 | Wall Street Journal | 5-person panel discussion
moderated by Gwendolyn Bounds. Wendy questions the group of
entrepreneurs under the theme "What’s the secret of being an
entrepreneur in these hard economic times?"....trying to stand out from the crowd. I think the best one we did, which we launched when it was about six degrees outside, was a marketing campaign that says, what this town could really use right now is a good bowl of chicken soup.

Chicken soup is one of the great comfort foods in every single culture, and we think that we need to be selling comfort right now. And chicken soup also is a way to define the restaurant. .....people are always looking for joy. They’re always looking to be connected. They’re always looking to feel generous. So Danny’s insight, which is so brilliant, is for the cost of a bowl of chicken soup, you get to feel generous. You get to feel connected. You get to feel part of the community. That story is easy to tell because we all have a memory of chicken soup growing up.......Marketing is not this blank check that lets you sell whatever you want. The challenge that we’re facing, as we enter this serious recession, is not how do we stop doing everything. It’s how do we create experiences and stories, interactions, that don’t necessarily cost a lot of money, but create value for everyone concerned.......I think that for an entrepreneur who is interested and passionate about creating something in the technology space, whether it’s a device or a service or a platform, this is an extraordinary time, because there’s an enormous lull in the Fortune 1000 with respect to innovation and new ideation. ........on the equity side, where they don’t have these types of opportunities, we look for innovative companies that actually create a disruption. The simple thing is, if you can offer the environment where we can lower your costs and improve quality, it’s a no-brainer.

But in general, we have to make certain that these entrepreneurs really know the industry, they know the customers, they know the competition and most importantly, they know thyself, they know what they can and cannot do.

So it’s interesting when you play across the capital structure, how you bifurcate this, and I think it all has to do with innovation and creating something that doesn’t exist, that fits a pent-up need.
disruption  self-awareness  Gwendolyn_Bounds  Seth_Godin  Danny_Meyer  entrepreneur  economic_downturn  hard_times  attention  innovation  ideation  ideas  underwriting  geographic_ingredient_branding  Buy_American  craftsmanship  soups  marketing  storytelling  lingerie  intimate_apparel  idea_generation  emotional_connections  small_batch  generosity  joy 
may 2009 by jerryking
Seth's Blog: Pivots for change
Seth itemizes the pivot points in business life that are available to all of us.
business  strategy  marketing  creativity  change  Seth_Godin  innovation  pivots 
march 2009 by jerryking
Virtual reality takes shoppers to another world | The Australian
October 19, 2006, The Australian, article by Alan Mitchell on how Procter & Gamble has stolen a march in the brands battle.
marketing  tools  innovation  market_research  virtual_reality  P&G  retailers  simulations 
march 2009 by jerryking
Tough Times Call For New Ideas - WSJ.com
FEBRUARY 14, 2009, WSJ column by KELLY K. SPORS. The savviest
entrepreneurs aren't hunkering down trying to wait out the financial
storm. They're rethinking their business models & strategies based
on the assumption that consumer spending won't be rebounding to
prerecession levels. People may want new types of products and services.
So entrepreneurs are finding new sales channels, trying new marketing
tactics and promotions, forming strategic partnerships, etc.
adversity  rethinking  marketing  innovation  business_development  Kelly_K._Spors  strategies  business_models  entrepreneurship  economic_downturn  recessions  new_products  hard_times  ideas  idea_generation 
february 2009 by jerryking
globeandmail.com: Fresh idea helps turn Loblaw's fortunes around
February 7, 2009 G&M article by MARINA STRAUSS reports on
how
Loblaw's bet three years ago that the cheap chic Joe Fresh Style fashion
collection would help the grocery chain meet the challenge of archrival
discounter Wal-Mart Canada Corp.
grocery  underserved  strategy  marketing  Joe_Fresh  retailers  Loblaws  Wal-Mart  Mimran  creativity  innovation  Marina_Strauss  turnarounds 
february 2009 by jerryking

related tags

adversity  advertising  Amazon  analytics  attention  blog  books  business  business_development  business_models  Buy_American  CDC  change  conformity  consultancy  craftsmanship  creativity  customer_centricity  customer_experience  customer_insights  Danish  Danny_Meyer  data_driven  delayed_gratification  Denmark  design  diabetes  digital_economy  digital_strategies  disruption  economic_downturn  effectiveness  emotional_connections  entrepreneur  entrepreneurship  FAANG  Facebook  generosity  geographic_ingredient_branding  Google  grocery  growth_hacking  Gwendolyn_Bounds  habits  hard_times  Harvey_Schachter  HBS  howto  ideas  ideation  idea_generation  innovation  insights  insulin  intimate_apparel  jack  JCK  Joe_Fresh  joy  Kelly_K._Spors  lingerie  Loblaws  long-term  Marina_Strauss  marketing  market_research  massive_data_sets  Mimran  mobile_applications  moments_of_truth  networks  new_products  Novo_Nordisk  P&G  pattern_recognition  pharmaceutical_industry  pharmacy-benefit_management  pivots  platforms  pricing  problem_solving  ProQuest  recessions  repeatability  retailers  rethinking  ROI  sales  self-awareness  selling  SEO  Seth_Godin  short-sightedness  simulations  small_batch  small_business  soups  storytelling  strategies  strategy  talent  Target  tools  turnarounds  underserved  underwriting  UX  vegetables  virality  virtual_reality  Wal-Mart 

Copy this bookmark:



description:


tags: