Magazine article Marketing

A Marketing Promotion: Innovation Is Power

Magazine article Marketing

A Marketing Promotion: Innovation Is Power

Article excerpt

At the heart of the world's most powerful brands lies a passion for innovation.

Airbnb, Apple, BMW, Netflix, Red Bull, TSB - these brands, just some of the 'new' entrants to Power 100 for 2014, are innovative to the core.

'Innovate or die,' they say. They're right, but there's a more positive association to be made - innovation and power go hand in hand; if you have one, then more than likely you have the other. Marketers need to embrace innovation - to stay ahead, stay powerful and stay relevant in the minds of consumers. It's a challenge, made harder by the opportunities and threats created constantly by disruptive technology. Yet there are key attributes, both organisational and personal, which are common to the most innovative and powerful marketing.

Be purposeful

Not every company can have a driven, visionary leader such as Steve Jobs at the helm. Even those that can, can't have them forever. Powerful brands outlive their founders by maintaining their passion and purpose. Perpetually asking and understanding your purpose keeps you relevant to consumers, unlocking a natural culture of innovation and reinvention within the organisation.

Get agile

Company silos and legacy systems are real barriers to agile innovation and should be dismantled wherever they occur. Understanding the strength of stakeholder relationships, or lack of, within businesses can unlock more agile approaches, and, from them, improved levels of innovation and customer experience.

Embrace risk

Marketing is an investment, and innovative marketers need to think of opportunities as an investor would. …

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