Six do’s and don’ts of leveraging innovative ideas in marketing

Leading Australian innovation consultant reveals how the right concept delivered at the right time and place can deliver powerful results for today’s digital marketer

Ideas don’t have any value until they’re executed in the right way, according to the CEO of innovation consultancy, Edge Labs.

“There’s a lot of hype around innovation and a lot of talk about ideas, but what does it all really mean?" said Simon Spencer during a presentation at last week’s CeBIT’s 2016 Digital Marketing conference in Sydney.

“The execution needs to be a wonderful choreography between the marketing side of things and the engineering side of things that brings a new product offering into reality and actually makes it successful.”

So what can you do in order to make innovation happen successfully?

Get the timing right

While he commended organisations that are brave enough to be the round peg in the square hole and push the boundaries of ideas generation, Spencer said success was all about getting the timing right.

“I’ve seen that even though you may have a great idea, the timing may not be right, or the execution isn’t practical,” he said.

Accept an idea as a raw product, not an end in itself

Spencer also said organisations need to recognise that an idea is just a raw product.

“We’re always going to have lots of ideas,” he continued. “The quality of our ideas boom will come down to our ability to be open to a lot of good ideas and then recognise which ones we want to play with now, and which ones we will park for future use.”

For Spencer, the key is experimentation and exploration, because you don’t know the potential value of a marketing idea until you kick it around.

Don't accept the launch and lead method

Spencer, who gained more than 20 years’ experience in the digital and tech space for both large organisations like Oracle and Citigroup before moving into the startup space, has been involved with a plethora of creative campaigns and said he’s seen the best and worst.

“For instance, I’ve seen a great campaign launched in banking, which was fantastic to begin with, but then they walked away from it,” he said. “It was a launch and leave, which is actually not uncommon across a lot of enterprises. Too many organisations take a great idea and throw money at it, launch it, and then realise that’s just the first part of the journey.”

Don’t copy someone else’s model

When it comes to being truly innovative, Spencer said if you’re too focused on copying someone else’s’ model, then you’re completely missing the point.

“There are lots of different styles of innovation,” he said. “But it all comes down to finding a need and filling it. And the great thing is companies, customers and the economy are all just problem factories, they’re constantly generating problems, which is great. As a result, there are so many cool problems to solve. And the most interesting ones are those nobody else is looking at.

“Where there is consensus, there is generally little or no opportunity. So find an area where there is not a lot of consensus and there is a lot of need, which is exactly what the likes of Uber did.”

Invite collaboration between technology and marketing

When it comes to leveraging technology, Spencer also suggested to look at strategy first and technology second.

“Technology is the glue between a business and a customer,” he explained. “It needs to be effectively incorporated in the creative process. And while marketers are great story tellers and IT are master builders, it is the fitting of those two together that can really drive innovation and creates incredible products.”

Embrace data as a sensor

According to Spencer, your data is actually little signals of interactions, transactions, movements and networks.

“As a digital marketer, you’re sitting on a minefield of data, but you can also be the puppet master of a great sensor network,” he said. “The more you look at your data as a sensor capability, it will start to inspire ways for you to find out about new things to drive further innovative ideas.”

One example Spencer revealed was when his company worked with a building client to look at elevator data to see which tenants frequented it the most and when.

“Based on the data, we could see which businesses on which floors were possibly doing well, which ones were getting busier and which ones were quietening down,” he said. “All sorts of interesting signals can be collected from analysing the right data.”

Ultimately, leveraging data is about creating insights and developing the right instrumentations to drive a business forward.

“Stepping back from this obsession about the ideas boom, real solutions need to be driven by real problems, and we need to treat Australia as a wonderful incubator of ideas that we can commercialise and prototype,” Spencer added.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

Launch marketing council Episode 5: Retailer and supplier

In our fifth and final episode, we delve into the relationship between retailer and supplier and how it drives and influences launch marketing strategies and success. To do that, we’re joined by Campbell Davies, group general manager of Associated Retailers Limited, and Kristin Viccars, marketing director A/NZ, Apex Tool Group. Also featured are Five by Five Global managing director, Matt Lawton, and CMO’s Nadia Cameron.

More Videos

Thanks for nice information regarding Account-based Marketing. PRO IT MELBOURNE is best SEO Agency in Melbourne have a team of profession...

PRO IT MELBOURNE

Cultivating engaging content in Account-based Marketing (ABM)

Read more

The best part: optimizing your site for SEO enables you to generate high traffic, and hence free B2B lead generation. This is done throug...

Sergiu Alexei

The top 6 content challenges facing B2B firms

Read more

Nowadays, when everything is being done online, it is good to know that someone is trying to make an improvement. As a company, you are o...

Marcus

10 lessons Telstra has learnt through its T22 transformation

Read more

Check out tiny twig for comfy and soft organic baby clothes.

Morgan mendoza

Binge and The Iconic launch Inactivewear clothing line

Read more

NetSuite started out as a cloud-based provider of Enterprise Resource Planning software or as NetSuite solution provider, which companies...

talalyousaf

NetSuite to acquire Bronto's digital marketing platform for US$200m

Read more

Blog Posts

Getting privacy right in a first-party data world

With continued advances in marketing technology, data privacy continues to play catchup in terms of regulation, safety and use. The laws that do exist are open to interpretation and potential misuse and that has led to consumer mistrust and increasing calls for a stronger regulatory framework to protect personal information.

Furqan Wasif

Head of biddable media, Tug

​Beyond greenwashing: Why brands need to get their house in order first

Environmental, Social and (Corporate) Governance is a hot topic for brands right now. But before you start thinking about doing good, Craig Flanders says you best sort out the basics.

Craig Flanders

CEO, Spinach

​The value of collaboration: how to keep it together

Through the ages, from the fields to the factories to the office towers and now to our kitchen tables, collaboration has played a pivotal role in how we live and work. Together. We find partners, live as families, socialise in groups and work as teams. Ultimately, we rely on these collaborative structures to survive and thrive.

Rich Curtis

CEO, FutureBrand A/NZ

Sign in