Marketplaces are becoming highly competitive, whether its local, regional, national or global.
Competition in the business has increased due to the wider access to new technologies and the increased trading and knowledge-sharing opportunities offered by the Internet.
Innovation in its modern meaning is “a new idea, creative thoughts, new imaginations in a form of device or method, this could be:
- Adding value to your existing products/services to make your business stands out from its competitors and to increase the anticipated value to the customers
- Improving business processes to increase its efficiency and productivity, or enabling the business to extend the range of quality of their existing products/services
- Developing new and improved products/services to meet the customer or consumer rapidly changing demands or needs
Marketing, on the other hand, is the study and management of exchange relationships.
Engaging customers is totally different from pushing your offers. When you say engaging it also involves equipping your customers with valuable and relevant information about your products and your business at the same time. It’s all about creating unique content.
Letting customers know what they are not aware about while making it interesting and mostly valuing their precious time.
In present day, is it more crucial running an innovative company, or having a team of marketing ninjas that can help you get your name out in the world?
Most companies are aware that they must innovate to keep up with current business tactics. With technological advancement, companies must innovate in order to stay updated and relevant. They are also conscious that they should have a marketing strategy in place.
Always remember to balance the two key elements of business success that is innovation and marketing.
It is a collaborative effort. Innovation works itself fully for your business culture, and as a result, it moves out into your marketing strategy.
Why is my business being defined by Marketing and Innovation?
As mentioned above, marketing and innovation being the two key elements for your business’ success. Marketing and innovation are inseparable. Innovation can only be successful with marketing; while marketing needs innovation for product success.
Your business has a big room for growth with marketing and innovation. You might have a small startup, but if you innovate, and have your marketing ninjas, your business can flourish.
With marketing and innovation, you’ll stand out over your competitors it will allow you to offer something unique for your customers.
Nowadays, consumers are more likely to buy from companies they identified to be innovative and socially aware.
The needs of your customers are constantly changing. Today, they might need exactly what you are offering them, the next day, they might need something else. With innovation, your customer’s needs will be met and with the help of marketing, you’ll be able to share it to the world.
To succeed in any business, you need to innovate, and at the same time do the marketing. The main goal of innovating in business is to drive revenue and give customers the best experiences with viable products and services — which will then make marketing an easy task.
Now going back to the question above, is it more crucial running an innovative company, or to have a team of marketing ninjas that can help you get your name out in the world?
Let me know your thoughts. ?