How to take advantages of Innovation techniques?
Design Business Innovation goes beyond what’s working and what’s not working. When you keep getting the repetitive result, you need to change your perspective from different directions.
Whether you already have an existing customer base, or just starting out, it is worth to understand the key element of your business to grow based on the creative thinking.
Marketing promotion can be very costly, but Innovative Ideas can reduce your measured cost to a degree of using the least minimum effort to get the maximum impact. It will also help you to determine your advancement potential while focusing on the existing promotion approach.
Who can get the most advantages from Innovation Strategies?
- Entrepreneurs who want to have viral marketing knowledge and be updated with the latest ideas around the world to create repeatable engagement with their target audience.
- Startup companies who want to have massive exposure to their products or services by applying latest strategies used by the big businesses in the market to reach a million users online.
- Online marketers who want to grow their brand in real time to reach maximum potential for their growth.
- Business experts who want to find new opportunities in any field, both online and offline in the digital era.
- Developers who want to build new features based on customers’ demands and develop more product enhancements for users.
- Designers who want to develop new ideas in greater quantity and quality to create a meaningful human-centered design with empathy.
- Product specialists who want to strategize their product or services to stand out in the market and bring it to the next level.
- Everyone who wants to maximize their growth potential, gain more customers, build credibility, and become an authority in their field.
Innovation isn’t about luck. It is about growing the commercial business to create meaningful impact for your customers, far beyond the fear of general business risk.
Once you understand how to develop your own innovation strategy for your business, you will see a lot of opportunities to create innovation in your current business and your “next” change.
The measurement goes beyond how many likes or follower you have in social media, how many downloads you have your gift, how much feedback you get on your website, and much more. It is because the data isn’t always clear when you are just starting out.
The roadmap that you set based on your gut reaction might not accomplish what on your customers’ mind. As long as you cleverly saw a gap in the market and leveraged it, you will see opportunities from all over direction beyond the conventional ideas you have been following.
When the real innovation began outside your comfort zone, people called it “Disruptive” change. Disruption will expose ideas in your current category with the opportunity of a breakthrough innovation that has a lot of potential growth for your company.
Let’s say, your disruption plan create a new business model that is better than your initial idea. Growth Hacking techniques will allow you to pivot your business model according to your customers need. The ideal growth is an iterative idea driven approach to help companies discover brand expansion beyond the average result.
It takes a lot of effort to grow your business, but it takes more effort to use traditional mindset in digital era or not even start to do anything in the first place and expecting great results.
Remember, the reward of doing the most “fantastic” jobs in the world, Following Your Passion.
The strategy to implement rapid growth through experimentation process and different tactics based on data from tools, analysis and experimentation of customer-driven approach to generate bigger impact or long-term gains in user traffic, product enhancement, and business revenue.
The personalization strategy happened inside the company. The idea used by one company might not work for others, and it requires a deep analysis of your customers to develop your own personalize innovation strategy that works in your business.
It is an ongoing process of gathering data, prioritizing jobs to be done, testing ideas, evaluating results, and analyzing feedback to enhance your product or services. Based on implementation, you as a innovator will be able to find out the best strategy to grow, while also eliminating those that don’t work.
How do you innovate?
The most famous example of the innovation is Growth Hacking technique used in the past was from Hotmail.com; a free email service began in 1996. The Hotmail founders weren’t interested in traditional advertising such as an advertisement on billboards, magazines, and radio. It was because the cost was too expensive for a free email services company.
They solved their problem by using their email as an advertising material. At the bottom of every email, there is a default Hotmail signature line that links back to their site. Because they turned every user as an advertiser, the network expanded to two million users within seven months period and thirty million users within thirty months.
Start by doing what’s necessary; then do what’s possible, and suddenly you are doing the impossible.
– Francis of Assisi
The technique to keep looking for growth is called “Growth Engine.” It combines your creativity, action, and strategy to build innovation.
Yes, it’s true Business Innovation is not for everyone.
It’s for those who are willing to roll your sleeves up and get your hand dirty to maximize their business.
Are You The One? 😊
Date: March 18, 2019
Category: Business Innovation