Innovation is anything that is new and useful. It doesn't have to be new to the world in order to be an innovation it just has to be new and useful to you! The beautiful part of being an innovator is that the idea doesn't need to come from you. The majority of the great ideas and great minds will not come from your company but that is ok because all you need is the unique application idea.
Innovation could be something that just about everybody knows about but hasn't been applied to you or to your company or to your industry.
For instance, just about everybody has heard of brand building, or adding value to your company brand. But there are many people in large and small businesses that are not paying attention to what it can do for them. The biggest brands in the world don't take brand building lightly and neither should you. The question is, what "New and Useful" thing can building your brand do for you if you start applying it to your business?
Apple is the most valuable brand in the world in part because it is one of the most talked about. If customers are going to shop for unique electronics such as mobile phones, personal computers, mobile music devices then it is almost guaranteed that Apple will be in that conversation. Now, not everyone is buying Apple products but most people are very aware of them and have an admiration for the company. Some people have never had an encounter with Apple but they probably know someone who has and who admires them. That kind of reputation makes selling products and even finding top talent for the workforce so much easier than it would be for a less known, less valuable brand.
The monetary payback you can add to your company by just building your brand value is..... lower cost of selling, lower employee turnover, less cost attracting top talent, higher customer trust and loyalty and higher customer referral rates. All these transfer directly to the bottom line. So, if you haven't tried it yet, try something new that is old.....clarify and build your brand and make it easy for your customers to talk about you!
Innovation could be something that just about everybody knows about but hasn't been applied to you or to your company or to your industry.
For instance, just about everybody has heard of brand building, or adding value to your company brand. But there are many people in large and small businesses that are not paying attention to what it can do for them. The biggest brands in the world don't take brand building lightly and neither should you. The question is, what "New and Useful" thing can building your brand do for you if you start applying it to your business?
Apple is the most valuable brand in the world in part because it is one of the most talked about. If customers are going to shop for unique electronics such as mobile phones, personal computers, mobile music devices then it is almost guaranteed that Apple will be in that conversation. Now, not everyone is buying Apple products but most people are very aware of them and have an admiration for the company. Some people have never had an encounter with Apple but they probably know someone who has and who admires them. That kind of reputation makes selling products and even finding top talent for the workforce so much easier than it would be for a less known, less valuable brand.
The monetary payback you can add to your company by just building your brand value is..... lower cost of selling, lower employee turnover, less cost attracting top talent, higher customer trust and loyalty and higher customer referral rates. All these transfer directly to the bottom line. So, if you haven't tried it yet, try something new that is old.....clarify and build your brand and make it easy for your customers to talk about you!
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