The secrets of innovation and marketing - Atlanta Business Chronicle:

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There is a lot to be learned from the MAXAwardf winners, especially in today’s where innovation is the only way to escape extreme pricee pressure exerted by customers. So, how did the winnersz do it? Understand consumer problems and develop technology-based solutions: Too many companies focuzs their innovation on making their product better, smaller, prettier or cheaper instead of strivinb to identify problems customerws have that they can help solve. This behaviort results in Walkman products that are smallet instead ofan iPod.
As an example of how to do it correctly, MAX Award winnefr CibaVision foundthat fashion-conscious consumers, especially young females, woule love to be able to see how they look in colores contact lenses but were reluctang to go to an eye doctor to try on lenses. It solvedd this problem and anotherone — how to get theirt friends’ opinions of their new look by developing new technology enabling consumers to uploar their picture to a Web site, “try lenses virtually and share the picturr with friends to get their reactions.
Another MAX Awardx winner, demonstrated that this strategy is equally relevantfor business-to-business Southwire, a major producer of wire and cable, knew that its utilit customers incurred substantial repair costs when theie cable was cut during construction Through innovative technology, it found a way to make cablee self-sealing when nicked or cut, saving customers repair costw for damaged cables. Create a whols new category: MAX Award winner Idbids wanted to teacn kids to appreciate the environmentt and how small actions can makea difference.
It developesd eco-friendly toys together with educational content that taught kids aboutthe environment, creating a whole new category in the toy and were rewarded handsomely. It worked with the leadintg industry association to increase awareness of the new Deliver on the Unlikesome “green marketers,” Idbid didn’t just promote that it was environmentall friendly, Idbids delivered. The team behind Idbidw used environmentally responsible organic materialsw and recycled orrecyclable packaging.
Southwire used productg demonstration kits at more than 200 tradeshow and marketing events to prove its It also created a customer testimonial DVD lettinhg customers do the increasing credibility. Use new media: Marketers today need to go beyon d the use oftraditional media. Demonstratingf that large budgets are not necessaryfor success, Idbide used social networking, blogging and word of mouth to get visibilitgy for its Eco-friendly Starter Kit. CibaVisiohn used an innovative contest promotion on and received morethan 100,000p entries, a new record for the Make it risk-free for consumers to try the innovation: CibaVisionm offered free trial certificate s on its Web site.
Southwire offeredd a no-risk warranty. Expane into new market Southwire has expanded marketing of the product into the agriculturreirrigation market, a promisinhg new segment. Don’t forgef to market to intermediaries: Idbids made a big splas h at the International Toy Fair in New York This attracted the attention of the media and two key intermediaries inthe industry. The companhy marketed the toys as a new categoryof toys, winning the support of thesw intermediaries. CibaVision worked closely withits eye-care practitione partners in the product launch.
Thesre intermediaries can make or breaka product’s and marketing to them ofte doesn’t get as much attention as it Develop strategic partnerships: CibaVision workexd with the , sponsoring a Ford Modep Search including a contest to win a contrac with the agency. Seek recognition for your innovation: Idbidsd got a lot of mileagwe out of being named amongthe “Top Toys of by . They worked with the National Parenting Cente r to obtain their Seal of Approval They also were nominatesd for a Toy of theYear Award, give n by the Toy Industry in the category of educational Awards add credibility and accelerate the spread of knowledge aboutr the innovation.
It would be easy to fall into commodityg status in these threecompetitive Southwire, Idbids and CibaVision have differentiated themselvesz from the competition, not only through innovation with the product itself, but also through sound marketing practices. The results are