What is marketing innovation?
Marketing innovations strive to exceed consumer expectations, open up new markets, or reposition a company’s product on the market, to increase sales. It must be part of a fresh marketing idea or plan that differs significantly from the firm’s current marketing tactics. The innovative marketing approach might be created by the innovating company or taken from other companies or organizations.
At KIMBO, marketing innovation is solving a problem using imagination and strategic thinking when connecting the dots cleverly. Testing approaches and monitoring results are critical. We take risks, and if the marketing doesn’t accomplish our goals, we have the confidence to pivot and try something new without hesitation.
Improving upon missteps
An illustration of marketing innovation is what we did for one of our clients. We used Webinars as a marketing tactic and used Google Remarketing/Display ads to lure attendee sign-ups. Our initial campaign was considerably successful and generated over 100 sign-ups and around 80 attendees. We analyzed with the client and figured out that the leads were not the right target. They were influencers, but not decision-makers.
With the client, we reconciled our strategy and took a step back to develop their buyer personas adequately. We are creating SEP-friendly content landing pages for different industry sectors to connect with business objectives and challenges. Furthermore, we are working with the client through marketing exercises and investigation to zero in on their consumer persona. Marketing innovation rises from misses and mistakes. Learning and evolving from those errors are what will lead to success.
Take advantage of emerging technologies
While jumping headfirst into bleeding-edge technology areas might be risky. Doing so also provides your business with a unique advantage that, quite literally, most of the world doesn’t have. Examples of this include Virtual Reality (VR) and Augmented Reality (AR). In recent years, we’ve seen this technology evolve from R&D concepts to actual real-world products, rapidly growing out of the infancy stage. Incorporation of these technologies into tourism and economic development marketing efforts has proved to be highly successful, especially as an alternative to visiting places in real life, as a result of social distancing measures of the COVID-19 pandemic.
Contact us to see how we can help strategize and implement innovative marketing tactics to take your business to the next level.