How far does your marketing innovation go?
Carrying on on the topic of innovation seemed rather right for trying out (rather belatedly) our new blogging platform. I've had interesting discussions with some of you recently about innovation and am both writing a report and creating a track session for our Marketing Forum in LA next month about how CMOs can/should plan for marketing evolution.
Where do you most focus your marketing innovation efforts today? Take my poll to the right as to where your marketing organization invests its resources.
Many marketers I've connected with spend most of their 'innovation time' and resources trying to figure out new media channels – social, mobile and still, digital. We do tend to think most about Promotion. But what about the other parts of the marketing mix?
Have you innovated in Place? Procter & Gamble has made online D2C sales a hot subject in the last months. Beyond e-commerce, have you rethought where your products are actually sold?
And what about the Products themselves? M&Ms lets people personalize the classic candy with their own words and photos. Has your marketing team used technology and customer proximity to change – even slightly – what you sell?
And the last P. Have you thought about Pricing innovation? I'm constantly annoyed at getting a worse deal from my mobile phone and cable providers than new customers coming in. Oh, and you can add magazine subscriptions to that stack. Beyond offers, when was the last time you rewrote your rules around pricing and introduced some novelty?
I look forward to your comments and thoughts. Have you seen interesting experiments in the market? Or are you working through some ideas yourself?
If you're shy and don't want to comment or find you don't have much time, again, do take my poll – itself a blazing innovation (if it works right) – about where you focus your efforts today. You'll find it on the right hand side of the page. Thanks for your input.