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Faculty Sections / Leapfrogging for Success: Change the Game via Innovation
« on: November 15, 2016, 02:41:00 PM »
It's official. We've been in a recession for more than a year now, and it does not look like things will improve in the short term.
As the macroeconomic situation worsens, marketers find themselves increasingly squeezed between a big rock and a very hard place: Their mandate is to demonstrably improve ROI, with reduced budgets, while communicating with skittish audiences that are less inclined to make purchases.
Not surprisingly, people are looking for ways to change the game altogether. And, as the market drops, the references to leapfrogging increase.
Leapfrogging—the idea of doing something so amazingly different and innovative that it transcends the best-in-class of a given industry—does not have to cost a fortune or require years to conceptualize and execute.
This article will explore how a marketing team can set the stage for low-cost, high-impact innovation. We'll review some examples of game-changing strategies and explore the requisite ingredients for building the successes that engage customers in a down economy. It comes down to three key steps:
First, learn what the brand is doing well and where there is room for exploration in the digital channel.
Second, understand how consumers are behaving, both in the context of a recession as well as increasing digital sophistication.
Finally, explore how to take these learnings and apply them to the materials already in play. Sometimes it's not about wholesale change but about taking the pieces people already have and refitting them together.
As the macroeconomic situation worsens, marketers find themselves increasingly squeezed between a big rock and a very hard place: Their mandate is to demonstrably improve ROI, with reduced budgets, while communicating with skittish audiences that are less inclined to make purchases.
Not surprisingly, people are looking for ways to change the game altogether. And, as the market drops, the references to leapfrogging increase.
Leapfrogging—the idea of doing something so amazingly different and innovative that it transcends the best-in-class of a given industry—does not have to cost a fortune or require years to conceptualize and execute.
This article will explore how a marketing team can set the stage for low-cost, high-impact innovation. We'll review some examples of game-changing strategies and explore the requisite ingredients for building the successes that engage customers in a down economy. It comes down to three key steps:
First, learn what the brand is doing well and where there is room for exploration in the digital channel.
Second, understand how consumers are behaving, both in the context of a recession as well as increasing digital sophistication.
Finally, explore how to take these learnings and apply them to the materials already in play. Sometimes it's not about wholesale change but about taking the pieces people already have and refitting them together.