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LEAD Innovation Blog

Read our latest articles on innovation management and innovation in a wide range of industries.

Date: 04-Oct-2018
Posted by: Angela HENGSBERGER

How new technologies improve innovation marketing

 

Innovation marketing does not just start with the market launch of an innovation. Rather, it is responsible for developing suitable strategies and measures in all phases of the innovation process in order to filter out customer needs and obtain feedback. This is the only way to ensure that investments are made in promising innovation projects and flops are avoided. Read in this blog entry how new technologies improve innovation marketing and facilitate access to relevant information for programming, data access and user interfaces, thereby creating completely new possibilities for interaction with customers and interested parties.


New tools for the Customer Journey

Innovative systems enable companies to support consumers throughout the entire customer journey - from the initial idea to the purchase. These technologies can therefore also be used profitably in innovation marketing, for example to compare innovation projects with customer needs or to test hypotheses (e.g. A/B or prototype testing) at an early stage of the innovation process.

Clicktips and similar systems, for example, track user behavior across offline and online touchpoints, helping companies to optimize their customer journeys. Attribution tools show which channels have the greatest impact on customer decisions. Various platforms offer the possibility to analyze unstructured data, and new programming languages evaluate huge amounts of data in order to predict customer behavior. In addition, interface design tools allow you to program a mobile app or website to change its appearance or functionality depending on where the customer is on the Customer Journey.

Paper Innovation marketing
Currently, however, there are already thousands of tools for digital marketing. It is easier and above all more efficient to choose a platform for digital marketing that combines the majority of all tools. So-called marketing automation platforms, which represent a relatively new area in Europe, meet this requirement. According to G2Crowd, the best known are: HubSpot, Marketo, Pardot and Act-on.

tool map

click here to enlarge: Chiefmartic, Marketing Technology Landscape

Marketing automation can be defined as a software platform that optimizes, automates and measures marketing measures and workflows. This will significantly increase sales and make marketing and sales more effective overall. Good marketing automation software such as Hubspot meets the following requirements:

  • Development of content strategies and websites (CMS)
  • blog feature
  • production of content
  • Creation of Call to Actions and Landing Pages
  • lead generation
  • Automated workflows
  • lead qualification
  • Email Marketing
  • newsletter
  • A/B Testing
  • social media marketing
  • Personalization of content on web pages and e-mails
  • ROI measurement
  • Sales tools
  • CRM (own CRM or integration with an existing CRM)

According to a study by PAC, almost every second European company currently works with at least three different technologies for the collection and analysis of customer data. This often creates islands of data that can obscure the overall picture and adversely affect a company's innovation marketing. Integrated marketing automation systems, which automatically merge all data, provide a remedy here.



Internet of Things in innovation marketing

The Internet of Things not only has great potential for industrial production processes, but also opens up new opportunities for marketing. Intelligent, networked products ensure a constant flow of data and provide new knowledge about consumers, target groups and markets. The company receives detailed information on where, when and how the customer uses the product.

User behavior and customer needs can be better understood and products can be further developed in a targeted manner - for example by adding innovative functions. IoT technology can thus be used efficiently in innovation marketing to sound out new ideas or concepts in controlled experiments and to involve customers and users at an early stage.

 

Social media for marketing innovations

The technology behind Facebook & Co is now very sophisticated and provides fast and direct access to relevant target groups. This can be used efficiently in early innovation phases to identify user needs, e.g. through surveys, presentation of first prototypes or A/B testing.

At the same time, however, there are also many possibilities for marketing finished innovations. It usually takes some time before innovations are accepted by customers, even if customer needs have been understood and the product offers real added value. Professionally conducted social media campaigns can bring a decisive advantage and quickly increase attention and interest. Especially videos with emotional or amusing content perform very well.

One example of a successful social media campaign is Tentsile. A few years ago, the company developed an innovative tent that is a mixture of a hammock and a tent. The commissioned agency Stoyo Media produced a short video and put it online on the Facebook page of its publisher partner "The Daily Dot". Within a very short time the video had an organic range of several million views.

 

In another example, Movinga, the moving startup, decided to publish a clip on its own Facebook page, which at the time was comparatively small at around 8,000 fans. After 48 hours the video had three million views, to date it is almost five million in total.

 

Conclusion: Innovation marketing: How new technologies improve marketing

To ensure the success of an innovation, companies must develop marketing strategies that explore the needs of customers and obtain customer feedback at an early stage of innovation on the one hand, and market the finished innovation on the other. Integrated marketing platforms, the Internet of Things and social networks enable a completely new intensity in data acquisition and interaction with customers. Those who are serious about the digitalization of marketing and sales will not be able to avoid integrated marketing automation systems due to the wealth and complexity of the technological landscape. Companies that do not take this development into account will sooner or later fall behind.

10 Reasons for Innovation Marketing

Angela HENGSBERGER

Born and raised in Vienna. Since 2012 she has been in charge of Business Development at LEAD Innovation with the functions marketing, sales and communication.

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