Five secrets for creating a culture of innovation

The April issue of the Advertiser magazine ("The Voice of the Marketing Community") from the Association of National Advertisers features an article, "Five Secrets for Creating a Culture of Innovation."

I'm quoted in the article with two key observations, on the issue of "taking risks and learning from them." My concerns?

• "...he sees too much 'bandwagon innovation" in marketing these days. Consider the rush by brands to launch viral videos on YouTube. 'That's not what innovation is ... it's admitting that everything we do -- how we are marketing to the customer, what the brand means to the customer, and what we do to update uniqueness and freshness of brand -- has to constantly change because everything around us is constantly changing."
  
• I also talk to the importance of taking risks: "CMO's who aren't afraid to focus on 'experiential capital', as Carroll calls it, or encourage innovative thinking by taking calculated risks, regardless of the outcome, stand a better chance of being successful over the long run.

It's a good article: there's no doubt that the high velocity economy results in rapid change of consumer brand perceptions. Leading edge marketers work hard to beef up their innovation capabilities simply in order to keep up with consumers who are charging forward at a furious pace!

More information

• Read What a great idea!
  
• Why bandwagon innovation doesn't work
  
• Is your brand from the olden days?