Innovating in times when everything seems to have been created is a challenge for the business environment, specifically in the field of marketing, which remains constantly changing to attract the eyes of consumers. Jorge Zuñiga Blanco, an entrepreneur and marketing expert from Costa Rica, explains some of the innovations coming to the marketing ecosystem.
Technological developments are advancing at an increasingly accelerated pace, forcing organizations to stay up to date if they want to maintain a competitive place in the market. Despite this dizzying evolution, the transformation continues, and the resources used for marketing innovation are increasing day by day.
The origins of the word innovation come from the Latin innovare, which means to change or alter the existing by introducing different things. Over time this definition has been discussed and analyzed by experts in the area, with the intention of improving and expanding opportunities in marketing from innovation.
Applied to the organizational environment, marketing innovation involves the improvement of processes, systems and models to achieve the desired success or impact with a product or project developed.
“An idea can be the first step to entrepreneurship,” explains Zuñiga. “However, to reach it, multiple strategies must be used to promote its flow; that is, there must be a change capable of modifying the activity already carried out.”
Increasing the sales of your company or establishing yourself as a benchmark in your niche market can be some of your objectives to achieve through marketing innovation, which takes time and resources to achieve satisfactorily.
Competition in the market increases all the time, which is why brands struggle to earn a place and become a benchmark for consumers.
By adopting marketing innovation strategies, companies can know the needs of their customers and approach them effectively. This will allow them to be remembered and become one of their first choices when requiring your products or services.
Mistakes can become a potential opportunity if looked at in detail. By analyzing why a product or strategy did not turn out as expected – either from your company or the competition – you can propose solutions and even find new perspectives.
Sometimes expectations do not match the results. It is then that it becomes a priority to change actions and question why there is no relationship between what we do and what we get; this will open the way to innovation and the search for new answers.
Adds Zuñiga, “One possibility for innovation is to modify the processes we carry out every day. When a part does not work regularly, it can affect the entire system. Hence the importance of verifying each stage and implementing improvements aimed at innovation.”
Trends are a guide to identifying opportunities in the market and implementing innovative strategies. A useful tool is the trend search platform, with which you can know the interests of users in real-time.
By knowing the distribution, occupation and demographic location of the population, you will have at your disposal information to implement new innovation strategies. Demographic movements bring about social and economic changes that directly interfere with the creation of brand products and services.
The perception of things is intervened by marketing innovations, by enabling new conceptions of something previously established. Nothing is set in stone and thinking of new ways of looking at something can trigger marketing strategies to be put into practice.
Hardly things come from or are constituted by a single field of knowledge. Science, mathematics or the arts are areas of different natures that, when related to each other, can trigger new products or innovations.
By identifying the types of knowledge that have a point of union with your company you can find multiple ideas to play during a marketing strategy. For example, the integration of big data and analytics are two tools that mix engineering and mathematics for the use of data in favor of organizations.
No company has the formula to achieve innovation and success in its different industries. However, daring to change is the first step to evolution.