Strategy Over Tactics - Why The Innovation Process Alone Won't Work
by Robert Ellis, on March 22, 2016
OK, so this isn't new information. Strategy has always worked far better than individual tactics.
Wars are not won using just tactics. Nor markets conquered with single ideas. A well thought out strategy is the answer to all of your marketing problems.
For example, do you remember the last thing you ate?
What was the tactic behind eating that food?
Put it in your mouth, chew and swallow? Or was it part of a broader healthly lifestyle choice?
Now look at your stomach, is there a rippling six pack there?
If there is, I'm willing to bet you have a strategy for your diet.
If there isn't, this could be an awkwardly personal metaphor for your business.
Many manufacturers cling to the idea of continually innovating and producing new products without thinking about why they're doing it because they think they know - that's the problem. If they focused on the why of what they're doing then they would realise there is a simple answer.
So...Why are manufacturers intent on the constant innovation of new products?
Because they want to increase sales.Why do they want to increase sales?
Because they believe their current products have either saturated the market or they haven't got the strategy in place to grow.
In fact they haven't saturated the market at all! It's just that they're only catering for people ready to buy.
Did you know that only 3% of people are ready to buy your product or services? While another 30% won't ever be interested in buying from you?
That leaves 67% of people that you aren't catering for, who just need to be educated about your products and services in the right way.
Could it possibly be cheaper to sort out the marketing of their current product so that it caters for these people, build the brand and pave the way for future innovation instead of simply bringing out a new thing?
Enlighten your employees on the need for a strategy that unites the whole team. Simply adding a few tactics and buying a few new tools isn’t going to bring sustainable change to your business.
Real change begins with a strategy that outlines where you’re trying to go and how you’re going to get there, together. Strategy unites all the necessary tactics toward a shared goal.
Implement A Proven Strategy For Your Business
At Lollipop we achieve this with Inbound Marketing.
We start with an Inbound GamePlan which provides a complete Inbound Marketing Strategy for your business. Tailored to individual businesses' products or services, a properly implemented GamePlan can see substantial ROI.
And if you're worried about losing your innovative reputation? Don't be. It's just a different form of innovation - Marketing Innovation.
Learn more about Inbound Marketing with our free eBook, just click on the button below.