In a world where there is a plethora of brands that consumers find difficult to recall, it is critical to define one’s brand as cut above others. The marketing efforts and brand that work do because they manage to find a consumer need for the product.
While there are plenty of ways to get consumers to talk about their needs, the real magic of business is getting ahead. But what does this exactly mean? It simply means knowing what the customer wants and needs even before they know it themselves. It is simply called innovation.
Who would have known that mobile phones would become a necessity and literally human extension? Who would have guessed that the internet will turn the world of media upside down? No one knew except for the visionaries that came up with the idea themselves.
On the other hand, there are innovations that do not translate to success. It is important to note then that while changes are always welcome, the ultimate end of it all can be determined and is based on public response. In other words, innovation is not simply a creation of something new. It is not just about coming up with life changing and mind blowing gadgets that will drive the world crazy. It is about creating a need.
A genius can come up with crazy technology that can potentially change the world as we know it. However, unless there is a recognized need for it, it will never translate. It all boils down to bankable insight.
For businesses, it means knowing the target market well enough to finish their sentences for them. Understanding the market deeply enough to identify the non spoken needs and wants. This is what thinking ahead means. It is what innovation is all about.
Moreover, innovation is not about outdoing the competitor. If this is the basis for brainstorming, the idea is already dead even before it started. An innovation is not about creating a copy or a replacement. It is something new altogether.
If a business makes an effort to top what the competition is already offering, they might as well be the second runner up. Market leaders do not think that way. Instead, leaders find ways to offer what is not yet offered. They never use the competition as basis for their move. They make the change and do not require reference point for doing so.
It certainly takes a lot to come up with an innovation, one that the consumer market can easily identify with. For the most part, success seems uncertain. But it all starts with getting to know the market. This is why businesses should invest on complete and thorough market research.
When they have come to know their consumers well enough to define a day in the life of the customer, they can build on an insight and start brainstorming from thereon. By gaining a complete understanding, ideas can start pouring in and not just any idea, but the workable and profitable ones that spell innovation.