As a business owner or a manager of marketing, you will know that getting your brand out there and having your services well-marketed is imperative to success. If no one knows about your brand, product or service then you’re destined to fail – no matter how good the products are.
With the world fast spiralling from a print media world of the 1980s to the all-digital one of today, it’s easy to see that embracing the new and innovative marketing practices is the key to remaining relevant and assuring your business’s success.
However, there is more to it than that, and we will take a look at how best to take advantage of marketing innovation in this article.
New Platforms Create Avenues for Growth
One of the first things to note when it comes to innovative marketing spaces is that the sooner you hit the scene, the better your chance of being the first brand consumers remember seeing – thus leaving an imprint that is quite hard to shake.
Think of social platforms like TikTok, this network has essentially ballooned beyond comprehension and thus the brands and users who got in early saw a lot of the same success. With a presence already existent on the platform, new users only had one place to go for content – the brands that already inhabited TikTok.
There have now been a number of success stories from companies that rode the TikTok wave into the stratosphere and are now solidly placed in their respective industries.
There are also many reasons why you might want to avoid certain avenues; it all depends on your approach.
And with this being said, as a brand manager, advertiser or marketer, looking for new innovative platforms for billboard space is something that should be paramount in your marketing plan. One such space to keep in mind is the Metaverse, which has only just begun to take hold of social channels across the web.
Innovative Solutions Often Garner Results
Of course, this depends on the type of innovation, though in many cases new brands on the market with their own proprietary way of marketing can offer up results that existing and un-innovative channels cannot.
You may find that a marketing agency’s innovative way of tracking or simulating customer movements is exactly what your brand has been looking for, and thus provides a means of trend-focused growth that cannot be found elsewhere. With this being said, companies need to keep in mind the legal implications that come with innovation – often, lawyers need to be involved in the process.
Another point to keep in mind is that some platforms may even rely on contact-based marketing with brands in a network that has been developed over time.
All that said, innovative solutions typically offer a fresh perspective and provide new ways of working with their clients which will generally garner results in ways that weren’t expected.
The Cost is Lower to Outsource Innovation
Unless you do a lot of your own marketing in-house, there is the opportunity to take advantage of innovative marketing processes without footing the cost of high research and development costs.
Of course, your brand could spend hundreds of thousands of dollars to replicate Google’s intelligent cross-web tracking, though you simply wouldn’t do this, you would hand off this marketing to Google, and so the same holds true to outsourcing to other smaller marketing firms and social networks.
One of the best ways to keep expenses low and growth high is to turn to highly innovative brands that offer myopically developed marketing solutions that provide an all-new experience for consumers.
Brands who follow through with this often remain in the minds of consumers longer and get results from market research and marketing psychology that other businesses have done on their behalf.
Think of the first time you witnessed a truly innovative advertising experience, such as Snapchat’s filters from the mid-2010s where brands could superimpose 3D rendered masks, and AR experiences to users. Many of these brands still work with the company almost a decade later due to the success of these campaigns – some are even using 50% of their ad spend on Snap.
Memorable Experiences Often Come from Innovation
In line with our point above, innovative and all-new experiences, whether it be a product or an experience in an advertisement are exceptional at leaving an impact on a consumer base.
It is good to note that in some cases, consumers never really forget that marketing experience they had and thus the product and prevailing brand won’t truly ever go out of fashion or be forgotten. For example, on stage seeing an iPhone scroll through a list of songs was such a pivotal moment for Apple that this seemingly mundane swipe of a finger garnered a collective gasp from the audience that is still spoken about over ten years later.
With that being said, marketing that spawns from innovative practices is often some of the most effective in the industry and thus leaves brands with ever-lasting impacts which culminate in the long-term success of their products and services.