Innovation’s New Rules

In the past companies have looked outside their organizations to find other companies to partner with for innovation. But acquisitions, alliances, joint ventures and selective outsourcing are simply too rigid and not scalable enough, to drive growth and innovation at a level that will make companies truly competitive in today’s marketplace.

Smart companies are opening up their platforms to treat the world as their marketing department. Take Doritos for example that showcased a great Super Bowl advertisement created by a customer for a cost of just $12.79!

The point is someone outside your organization today knows how to answer your most pressing marketing challenge, or even take advantage of a current market opportunity better than you do. You job is to find them or find a way to work collaboratively with them.

Need more proof: check out P&G who launched its “connect and develop” initiative to help them source 50 percent of their new products and services ideas from outside the company. Can you say Swiffer Dusters or Crest Spin Brushes? Those are just some innovative products that came from outside their organization.

So where is the Buzz? Smart Buzz Marketers have long dispensed with the idea of focus groups in favor of harnessing the Web 2.0 tools to listen, contribute and engage with their customers and prospects.

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>