Why brand’s innovation is necessary.
Author: yinkaolaito
Yinka Olaito is happy,excited and passionate Brand Communication, Social Media expert, Trainer and speaker. Yinka Olaito helps brands(Profits and Non-profits)with effective communication and positioning for premium service delivery and returns.Yinka Olaito also has special interest in Development Communication and has consulted for noted UN Agencies. Yinka Olaito is the CCO of Michael Sage consulting and African Child Right Inc.Lagos Nigeria
Innovation is KEY to keeping our brand healthy. As good as this may be, many brands are avowed to innovation because they feel it will hurt the positioning. Innovation does not necessarily to be disruptive even though it may be part of it. In my continuous research on the word “Innovation” I have come to the conclusion that there is no universal definition of innovation, it s more of a function of the context. We define innovation as “a process for transforming research based ideas to reality that bring an improvement on the past behaviour. We can also look at is that an innovation lowers the costs and/or increases the benefits of a task. Another online study concludes that ‘a wildly successful innovation increases the benefits-to-costs ratio to such an extent that it enables you to do something it seemed you couldn’t do at all before or didn’t even know you wanted to do’.
Innovation is the ability to come up with something new that somehow facilitates a task or endeavor
The other thought I cherished is expressed this way ‘Innovation depends not on certainty of being right, but on rapid learning and rapid response to what has been learned’. From the above, we can say Innovation is process, method, idea views from different perspectives. If we agree on this, it s so clear that brand needs to innovate to be relevant. The following reasons can be attributed to such needs. Innovation helps brands to meet new demands. It also helps to inculcate new perspectives. Innovation increases brand values as well as increases chances of brand impacts. More importantly, innovation helps brand to generate new streams of income. There are several demands that innovation required. One is that brand innovation does not necessarily demand that brand must reinvent the wheel. But there is a high need for clarity of mind to change old patterns into new concept where things are possible.
When last has your brand being involved in innovation, what are your fears? What do you think innovation bring that your brand does not possess now? Please let me know I may be able to help.
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This month of May is very crucial to us at THE BRANDING GAVEL. We have a lot of things to celebrate. This month marks the sixth month that we came online and the impacts have being phenomenon. This month is also the Publisher’s birthday. Because of this, we will be so generous to give full profile coverage for the top “commentator” of the month on this medium. The Publisher (Yinka olaito) will also be speaking free of charge at every event this month. This is an opportunity to invite him to share his knowledge with your organizations, groups, student bodies, associations. This is exclusively for Lagos Audience. Others outside Lagos can benefit from this “at no cost” speaking by arranging for how I will get to your location and back to Lagos. That is the only difference every other values are free. Don’t forget, send your request to yinka@yinkaolaito.com or Tel: 07029778785
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