What is marketing innovation and why is it important?

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Innovation has been the focal point of various strategies in companies, especially in areas such as Information Technology, Finance, Management and also in Marketing .

In this article we will explain from head to toe what innovation in facebook database marketing is, going through the central concept of this matter, the importance it has for the optimization of promotional strategies and, obviously, how to innovate in marketing .

If this is what you were hoping to learn when you clicked on this blog post, read on to the end and find out all about marketing innovation!

What is innovation?
Why is innovation important in marketing?
How can you innovate in marketing?
3 examples of innovation in marketing
What is innovation?
In simple terms, innovation is about all those initiatives, processes, ideas and tools that allow us to improve current conditions. In marketing, we could talk about innovation if we mention the use of analytics solutions or, for example, the implementation of strategies such as Interactive Marketing .

In these times, innovation has become an essential asset for businesses, especially considering the need that exists in practically all sectors to constantly improve in order to compete in increasingly tough markets.

If innovation is not considered a crucial factor in generating opportunities, brands run the immense risk of becoming obsolete or, worse still, being crushed by the evolution of other organizations.

A clear example of this may come to mind if we think of cases such as Blockbuster, Kodak or BlackBerry, where the lack of innovation and the discredit of evolution caused brands that dominated their segment to disappear from the map.

Now, what does this have to do with marketing? Find out below!

Why is innovation important in marketing?
Focusing exclusively on marketing, innovation may seem obvious to many, however, it is important to explain it so that it is not confused with the simple adoption of technology or techniques that may seem very innovative but are obsolete.

In an area like this, where creativity and originality are the order of the day — as they are essential elements for promotional campaigns that have a positive impact on audiences — it is normal for decision-makers not to take many risks with their initiatives.

It is also a segment of the industry where agencies tend to stay within a framework of proven techniques and strategies where they are assured of a certain degree of success.

However, marketing innovation has proven over the years to be the cornerstone around which great advances in the area revolve.

It is clear that innovation in marketing is no longer a luxury or a refinement, but something fundamental if we take into account that:

Today's consumer is much more demanding and informed;
who wants to receive differentiated experiences every time they consume or purchase;
that their opinion matters more than ever thanks to the reach of social media.
For all the above reasons, marketing innovation is a key element in the planning and strategies of organizations that want to be one step ahead of their competitors and recognize that creativity and boldness are true business generators.

In this sense, marketing innovation is capable of offering a series of benefits ranging from the optimization of resources in the area to the strengthening of customer relationships.

Want to know how to get all this? Keep reading!

How can you innovate in marketing?
At this point, the doubt about whether marketing innovation is necessary has most likely been resolved and you can understand that evolution, far from being a "plus", has become a weapon for survival.

So, if you want to learn how your company can innovate in marketing, here are some ideas!

Do you want to know the types of innovation that exist? Visit our blog post on the subject

Discover 16 essential tools for a Digital Marketing strategy here

Learn everything you need to know about marketing automation in this content

Surprise factor
If we take into account that innovation in marketing is about awakening the curiosity of people who look at the brand with the aim of capturing their attention and surprising them with impactful actions, it is clear that the shock factor makes more sense than ever.

One of the key points for innovation within this segment is to find areas in the essence of the brand that can evolve to be more attractive and generate more engagement.

Foster a sense of belonging in your audience
Another important aspect that can be implemented is to go beyond simply knowing the problems, pains and needs of potential consumers.

To achieve true innovation in marketing, it is necessary to discover what they feel, what they think, what they empathize with, what their vision of the future is and, most importantly, to put yourself in their shoes and discover what surprises them today.

By creating a community bond between your brand and your audience, you can develop a close sense of belonging that will allow you to interact with them closely to offer them specific products and services designed especially to solve their problems.

Learn from your failures
In the past, failure was the equivalent of defeat. However, with the emergence of digital transformation and Digital Marketing, failure in this era is synonymous with opportunity.

And this is not just saying for the sake of saying.

When we design and implement marketing strategies, we often already know what works and what doesn't, creating a comfort zone that keeps us safe.

However, to achieve true innovation in marketing, you need to take what works and elevate it to the maximum of your capabilities, obviously, within your possibilities.

By improving what already works, we can gain a new perspective, work on it, and apply values ​​such as creativity or improvement to achieve the innovation we so desire.

Now, there's nothing clearer than a real-life example, right? So, let's look at 3 examples of marketing innovation to get you inspired.


3 examples of innovation in marketing
Discover how other companies have managed to innovate themselves through various resources.

1. Virtual reality
The technology that allows us to immerse ourselves in virtual worlds has been a great ally for various brands around the world.

VR (Virtual Reality) has dramatically transformed the boundary between virtual and real, giving users a new experience where they can see the changes in businesses up close.

The way we consume content is evolving thanks to it, as is communication, which has left the door open for the entertainment world to take this technology and turn it into its new and most powerful weapon to impact its potential clients .

A clear example of this is Toyota, which has used VR to create driving safety sessions to give its users the chance to test their cars in a safe environment.

Another organization, the World Economic Forum, has used this resource to expand its documentary on the conditions and quality of life of refugees.

2. Omnichannel
Omnichannel strategies have been a great addition to marketing in recent years, especially in markets where users use more than two mediums to communicate with their brands.

Having a presence on more than one channel is no longer enough for consumers; they now demand a comprehensive experience across all of them. The possibility has opened up for companies to rely on this methodology to develop a closer relationship with their customers and, why not, learn more about them.

An example of this is Netflix , which no matter what type of device you use to consume its content, you will always have the recommendations, your list, and what you have left unfinished ready to be displayed in the same place.

3. Machine Learning
Finally, machine learning has proven to be a great ally for marketing innovation. Fast, informed and agile decision making has become an essential business asset .

For example, AirBnB has relied on ML to help homeowners calculate appropriate prices based on all geographic and property-related data.

That's it!