Innovation. The introduction of something new and a word we hear about all the time in the creative industry. It can be crucial to the initial and continuing success of a business, but also crippling if you don’t commit to it and give consumers exactly what they want.
Customer service is often considered to be the key to a brand’s reputation, but part of keeping the customer happy and loyal, is to bring something new and exciting to keep them engaged. And that’s where individuality and innovation come in, because people will get bored easily. Remember how popular HQ Trivia was only a few months back? Now, the novelty of potentially winning £500 at 3pm and 9pm everyday has worn off, so people simply aren’t bothered by it anymore. Consumers are more intrigued by the concept of HQ Trivia, rather than the brand itself and frankly, the game became more of a trend than a sustainable brand.
A recent study revealed that UK CMOs are almost half as likely to see innovation as the primary role of the marketing function as their US counterparts - only 25% of UK marketers identify “leading disruptive innovation” as a core functional priority. Surprising, since you only need to Google “innovation” to see all the articles that express the importance of innovation in business. So, why are marketers so resistant to prioritise it?
Engaging with the right crowd
Understanding exactly what consumers want when it comes to new innovations can be tough, especially when there are so many other brands competing for the same crowds, and it can seem difficult to get noticed by anyone. In recent years, brands have attempted to create new marketing techniques, particularly on social media, to try and break through the noise. But some of these actually have a very minimal effect on the relationship between the brand and consumer.
Awareness day campaigns are obvious examples of this. “National Avocado Day”, “International Sloth Day” or “Bring a Potato to Work Day” are just a few of the many examples of this kind of activity that are constantly popping up and trending on social media. And brands are quick to seize the opportunity to create extravagant campaigns, even if the topic has no correlation with their brand. But because it’s trending and popular, they want to be in on it. Whilst some brands are capable of pulling something off – like Aperol giving out free Aperol spritz on National Prosecco Day (yes please!) – for others, the buzz and engagement only really lasts for the day, so is it really worth it?
Similarly, brands who jump on the clickbait-, relatable-type Facebook posts, like the “Tag your friend so that they have to look at this pickle” or “Share if you think XYZ” posts, among others, will only ever get lots of likes, shares and comments on that post and that tends to be where the engagement with the user stops. Consumers are only liking, sharing and commenting because they can relate to the content, not because they want to engage with the brand. Converting leads is said to be a top priority for 70% of marketers, but jumping on social media trends won’t always deliver the best ROI.
Perceptions of innovation
Churning out new products or coming up with big, extravagant marketing campaigns is what most people expect when they think of innovation, and what brands think will gain them more customers. But innovation doesn’t have to be as big as that. In fact, small, more focused approaches to innovation can be more beneficial to the brand. Micro influencers, for example, are more focused than a huge, celebrity influencer because they have followers who are genuinely interested in the content that they post.
Likewise, engaging with consumers in a way that’s meaningful will be much more valuable for your brand in the long-term. Challenger bank, Monzo, has a community forum where its users can chat to each other about Monzo products and interact with a team of Monzo employees to discuss new ideas. It allows Monzo to properly listen to what their customers are thinking, and the customers really feel like they are part of the Monzo brand.
Jumping on the bandwagon of novelty marketing trends is easily done, especially when you see every other brand taking part. But it’s important to stay in-line with business values, making sure the customer is front of mind and asking yourself “will this really benefit my business and gain me loyal customers?”
Every brand has something unique and interesting which makes them who they are - otherwise they wouldn’t be a brand. Finding what makes a brand unique and exploiting that, instead of jumping onto current, popular trends, will be much more valuable in the long run - just because everyone might be talking about one thing one day, doesn’t mean they’ll be talking about it the next.