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Entrepreneurship
by Greg Cruey on February 28, 2009
Some degree of innovation is often_usually at the heart of entrepreneurial success. But that begs a question: How do you assess an innovative idea before you decide to invest you time, money, and energy in it?
Scott Dig took a useful look at that question last week. He frames it in terms of due diligence and breaks the answer down into three basic parts. The first has to do with whether the innovation solves some real problem. The second has to do with perspective, with the innovation's place in the "big picture." The third has to do with the innovation's place on something like a necessity-luxury scale.
I thought Scott's article was insightful. You can read it here.
Photo courtesy of iStockphoto, Image# 3725160
Scott Dig took a useful look at that question last week. He frames it in terms of due diligence and breaks the answer down into three basic parts. The first has to do with whether the innovation solves some real problem. The second has to do with perspective, with the innovation's place in the "big picture." The third has to do with the innovation's place on something like a necessity-luxury scale.
I thought Scott's article was insightful. You can read it here.
Photo courtesy of iStockphoto, Image# 3725160
Permalink: How Do You Assess Innovation?
Tags:
innovation
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/145072
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Vote for How Do You Assess Innovation?:
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Rating: 8.00 out of 4 vote(s) cast.
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Response from:
Ling
(03/02/09 5:42am)
Far as I'm concerned, an innovation needs to save money and/or reduce manual effort, and it has to come at a time when it's need is just being felt. The ones before and after fail, but the guy who's just in time to catch the wave will knock it out of the park.
Response from:
adarsh
(03/13/09 3:59am)
The sluggish economy means that ad budgets continue to be re-evaluated (read slashed). It also means that brand managers have to drive a better ROI across all channels. The more agile marketing teams are moving away from generic branding campaigns towards performance trackable, direct-response channels one of which is mobile. Mobile advertising campaigns have demonstrated a much higher success rate when leveraged as lead-generation and customer acquisition tools using calls to action like click to call and click to SMS. Tough economy or not, mobile marketing is no longer a niche or a trend.
While mobile is still considered an emerging channel by some, smart marketers are integrating trackable, quantifiable mobile components within campaigns to extend their reach and increase efficacy. Will you be one of them?
Every economic downturn is an opportunity for organizational introspection and rationalization. Our expectation is that an increasing number of advertisers will shift to cost- effective digital strategies in the next several months. The advantages are quite clear
• Quantifiable results
• Shorter turnaround
• Significantly lower costs than traditional mass-media counterparts
• Ability to recalibrate targeting or messaging to respond to audience feedback
Here are some tips to design a successful mobile advertising initiative
• Focus on user experience. Treat your audience with respect and deliver an experience that is high on engagement
• Integrate your mobile advertising campaign with other channels. Benefit from the halo effect of the other mediums
• Leverage the call to action. Few mediums offer instant actions like the mobile. Use them.
• Measure, track, analyze: Leverage the measurability of the channel to assess the success of your initiative and use the feedback to improve your campaign
Rise to the challenge of a soft economy and stay relevant to your customer. Let us show you how here
While mobile is still considered an emerging channel by some, smart marketers are integrating trackable, quantifiable mobile components within campaigns to extend their reach and increase efficacy. Will you be one of them?
Every economic downturn is an opportunity for organizational introspection and rationalization. Our expectation is that an increasing number of advertisers will shift to cost- effective digital strategies in the next several months. The advantages are quite clear
• Quantifiable results
• Shorter turnaround
• Significantly lower costs than traditional mass-media counterparts
• Ability to recalibrate targeting or messaging to respond to audience feedback
Here are some tips to design a successful mobile advertising initiative
• Focus on user experience. Treat your audience with respect and deliver an experience that is high on engagement
• Integrate your mobile advertising campaign with other channels. Benefit from the halo effect of the other mediums
• Leverage the call to action. Few mediums offer instant actions like the mobile. Use them.
• Measure, track, analyze: Leverage the measurability of the channel to assess the success of your initiative and use the feedback to improve your campaign
Rise to the challenge of a soft economy and stay relevant to your customer. Let us show you how here
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