Those Who Are Good At Innovating Are Those Who Don’t Harp On About It

Those Who Are Good At Innovating Are Those Who Don’t Harp On About It
SHARE
THIS



The term ‘innovative’ puts Permission MD Rick Merten to sleep, and in this opinion piece, argues why it’s in danger of becoming another rubbish buzzword.

“Innovation. We need to innovate. We are innovating. It’s all about innovation…” Yawn.

The word “innovate” is so ubiquitous and omnipresent in marketing and all those who reside in it that it’s in danger of becoming redundant. Another buzzword to throw on the heap of trendy.

Too may businesses are focused on innovation for innovation’s sake – but the real innovators are actually the ones with no tangible product at all but possess a strong sense of customer-centricity. You may not be able to touch it, feel it, see it – but customers know it’s there, at every step of their journey from beginning to end. An invisible comforter.

The term ‘customer-centricity’ was coined when organisations began adopting customer relationship management. CRM software vendors started banding it about and many companies who are actually the polar opposite of the term adopted it, shouting about how customer-centric they were.

 But today the whole user experience has turned on its head, meaning organisations – and not just flailing ones – really do need to get their A into G.

Customer-centricity is about giving back control and delivering value beyond cost savings; the customer knows what they want, why they want it, when, how to get it, for how long for and what the cost is.

And the big draw cards are simplification and transparency. Remove all suspicion and confusion. Make it a speedy and easy process. Who has time to read the fine print anyway?

And that goes for everything – the product, its app, website, marketing campaign, direct interactions with the business and, God forbid, the experience if they have to phone a call-centre. And of course, feedback. Freely available reviews that can be found and shared on social media – and that goes for all reports, not just the glowing but also the good, the bad and fugly. Warts an’ all.

Prime examples of current consumer-centric pin-ups include Uber, who has no fleet of cars, and Airbnb – who, despite offering worldwide shelter, has no properties.

They have a different type of brand loyalty, built from obsessive attention to all brand touch points and those business models were based on deep insight through data, harnessing the democracy of social media.

Modern business has traditionally told us it’s all about the product but, in reality, the economics of new technology have entirely refocused the way in which we do it. Market economics define success and brand loyalty is dying – and the true fallout of this product-focused approach is that customers are voting with their feet.

Many industries have realised this all too late, like the music industry and once-feted record labels where, in most cases, the old school show ponies at the top are relying on insight and the digital know how of today’s whizz kids – and in some cases the actual talent signed to these labels – to not only keep their head above water but survive.

But you can only do the ducky principal – where everything looks smooth on the surface, with not one ruffled feather in sight while underneath all hell is breaking loose – for so long.

Companies of the future need to be agile, deft and adapt quickly, and with the speed that technology is developing and the markets are constantly changing with oil prices, exchange rates and failing economies, it’s never been as imperative as now.

The reality of surviving and thriving comes down to having an inbuilt obsession with winning, serving and retaining customers not only at the core of those companies but running through every thread. It’s the only possible response.

Behavioral science tells us that as humans we posses two sides to our brain – a rational, and emotional outlook – and more and more brands need to be aware of these distinctions.  The emotion, or empathy, is really a human trait but it certainly transfers into business into making them become customer-centric.

In 2009 n 2009, Airbnb was about to go bust with revenue flat-lining at $200 a week. But now, powered by social media and customer-centricity more than nine million people have used it to find a bed and temporary housing.

And with Uber, despite the continuing scare tactics from governments and all of those who aren’t taking a financial cut from its bursting coffers, the overwhelming message is that customers would rather get in a car with a potential serial killer or rapist than pay through the nose of a licensed one.

The future of commerce will be defined by those who embrace the customer democracy, against those who don’t, but transforming businesses to understand this can be tough.

It needs to both come from the heavens and roots of a business to adopt and grow a customer-centric culture – and those who ignore the foolishness of living in the past will face the disruptive wrath of those making the sometimes uncomfortable, but productive decisions to invest in customer-driven change.

Please login with linkedin to comment

menulog Yell

Latest News

M&C Saatchi Launches THIS Film Studio
  • Advertising
  • Marketing
  • Media

M&C Saatchi Launches THIS Film Studio

M&C Saatchi Group has partnered with documentary makers, writers, producers and digital content pioneers Michael Lawrence (left in photo) and Nicholas Cook (right in photo) to launch film and television production studio THIS. Lawrence and Cook have established an enviable track record creating story-driven content and feature documentaries based on The Human Indomitable Spirit (THIS) […]

The ‘Business Of Busyness’: How Productivity Keeps Us From Preparing For The Future
  • Opinion

The ‘Business Of Busyness’: How Productivity Keeps Us From Preparing For The Future

Jeff Schwisow is a Melbourne-based strategy specialist, speaker and the author of Projectify – How to use projects to engage your people in strategy that evolves your business. In this guest post, he argues that our obsession with being busy right now is what’s holding us back from planning our futures tomorrow… To survive in today’s […]

Opinion

by B&T Magazine

B&T Magazine
Host/Havas Creative Chief Darren Spiller To Depart
  • Advertising

Host/Havas Creative Chief Darren Spiller To Depart

Creative agency Host/Havas has announced that its chief creative officer, Darren Spiller, will be leaving the agency. Spiller joined Host as its chief creative officer in January last year and then assumed the same role when the agency merged with Havas in October 2017. Host/Havas has received of a long list of creative accolades this […]

by B&T Magazine

B&T Magazine
Creative Agency Launch Project Management Tool Hassl
  • Media
  • Technology

Creative Agency Launch Project Management Tool Hassl

Yesterday at TedX Melbourne the team behind award-winning Melbourne based agency Your Creative launched their new tech venture Hassl, the project management platform taking on Trello and the likes. With the belief there was a better design solution to project management, the platform has been developed over the last two years in collaboration with their […]

ABC Axes Tom Ballard’s Tonightly
  • Media

ABC Axes Tom Ballard’s Tonightly

It's one of the ABC's edgier, controversial shows, but Tom Ballard's proven too edgy and controversial for ABC chiefs.

Taboola Strengthens APAC Programmatic Offering With New Partnership
  • Advertising
  • Media

Taboola Strengthens APAC Programmatic Offering With New Partnership

Global discovery platform Taboola has announced a strategic partnership with Wider Planet, Korea’s largest demand-side and data management platform. The partnership builds on Taboola’s programmatic efforts in Asia-Pacific, and will bring together Korea’s largest demand platform for agencies and brands to provide access to Taboola’s global audience through premium publisher placements. The partnership means advertisers […]

The Haus Picks Up Two New Clients
  • Marketing

The Haus Picks Up Two New Clients

The Haus announces two new client wins. Admittedly, not as good as winning three, but far better than losing four.

businessman using tablet PC and information communication technology concept. IoT(Internet of Things). GUI(graphical user interface). paperless office.
  • Marketing
  • Technology

Smartly: The Future Of Martech Is Automated

Automated ad buying platform, Smartly was at the centre of the tech innovation stage at the Online Retailer conference 2018. Smartly head of ANZ Marta Bonzanini (pictured below) discussed the integral role automation plays in the future of marketers and creatives. “If an ad is not performing as well as planned, you probably have some […]

Messenger Launches Video Chat AR Games
  • Technology

Messenger Launches Video Chat AR Games

For the moments when we can’t be together IRL, Messenger video chat helps you connect in real-time with the people you care about most. Chatting face-to-face live makes all the difference when you have exciting news to share, you need a study buddy for a big test, or you simply want to pass the time […]

Sphere Wins Stockdale And Leggo
  • Media

Sphere Wins Stockdale And Leggo

Sphere snares Stockdale & Leggo business, which is a real estate group & not a simmer sauce as first reported on B&T.

Aussie AgTech Start-Up Leads Global Farming Innovation
  • Technology

Aussie AgTech Start-Up Leads Global Farming Innovation

With Aussie farmers facing so many challenges, could the answer be Blockchain technology? Ranking top 10 at this year’s Overseas Talent Entrepreneurial Conference (OTEC), pitching against 32 other start-ups from around the world, Aussie start-up Agunity are leading AgTech innovation. Having won the right to represent Australia during Investible’s nation-wide pitch competition, AgUnity took to […]

Women In Media Profile: Carolyn Bollaci
  • Media

Women In Media Profile: Carolyn Bollaci

Facebook's Carolyn Bollaci is the latest to sup at B&T's truth serum we prefer to call our Women in Media profiles.

by B&T Magazine

B&T Magazine
Vic Govt Unveils ‘Tafe + Jobs’ Via Fuel Agency
  • Advertising
  • Campaigns

Vic Govt Unveils ‘Tafe + Jobs’ Via Fuel Agency

The Fuel Agency has launched the new ‘TAFE + Jobs’ campaign, aimed to promote and drive applications and enrolments for courses starting in 2019 There’s a lot happening in Victoria, with record investment in road and rail projects, and in the health, community and disability sectors. As a result, there’s greater demand for skilled workers. […]

Rakuten Marketing Appoints New CEO
  • Marketing
  • Technology

Rakuten Marketing Appoints New CEO

Rakuten has a new CEO. However, judging by the tired handshake photo, B&T doesn't have any new ways of illustrating it.

Why Consumers Block Your Advertising
  • Advertising
  • Opinion

Why Consumers Block Your Advertising

Who better to explain why your ads are getting blocked than a real ad blocking expert. As B&T has done right here.

Opinion

by B&T Magazine

B&T Magazine
Women In Media Profile: Jackie Crossman
  • Media

Women In Media Profile: Jackie Crossman

B&T has spared no expense with today's top Women in Media profile, save for suit hire, corsage and dry-cleaning.

by B&T Magazine

B&T Magazine
Kantar certified by Google as a verified Measurement Partner
  • Technology

Kantar certified by Google as a verified Measurement Partner

The announcement designates Kantar as an approved third-party measurement provider for brands looking to verify their media spend performance on Google owned platforms. Kantar is approved globally to provide both Brand Lift Insights for evaluation of brand impact from campaigns and for independent measurement of audience reach from campaigns on Google properties. Kantar CEO Eric […]

THIS
  • Advertising
  • Marketing
  • Media

Final Call! B&T Late Entries Close Today!

B&T Award entries officially close at 5pm today! Good news if you've almost finished, bad news if you haven't started.

by B&T Magazine

B&T Magazine
Australian Women’s 15s World Cup Bid Kicks Off
  • Campaigns

Australian Women’s 15s World Cup Bid Kicks Off

“It’s 2018”, is something you hear a lot when you talk to the players, coaching staff and fans involved in Rugby AU’s bid for the ‘Rugby World Cup Women’s 2021’ tournament. There is this sense that they are not only ready for a greater stage, but raring to go. As one player said “Ready?! We’re […]

Aussie Silk Brand Harnesses Kardashian Marketing Power
  • Marketing

Aussie Silk Brand Harnesses Kardashian Marketing Power

Shhh Silk is an Australian brand that quickly grew in popularity among celebrities like Gisele Bündchen and Kim Kardashian West. Shhh Silk has just received a $1.8 million order from a very large brand in the US, and CEO Olivia Carr’s projections is for this to be a $50 million business in five years’ time. […]

SaaS Player Taps oOh!media Chairman Tony Faure To Lead Its Board
  • Media
  • Technology

SaaS Player Taps oOh!media Chairman Tony Faure To Lead Its Board

Software-as-a-service (SaaS) company ReadyTech has announced the appointment of Tony Faure as its new chairman. Faure is the chairman of outdoor giant oOh!media and data intelligence platform PredictHQ. He is also a non-executive director of digital mortgage company Uno Homeloans, content platform Stackla and specialised media company Medical Media. Faure is regarded as being one […]