Welcome to the RE of Marketing Podcast with your hosts Steven Rick and Tim Elliott. A podcast where we rethink, replay and remark on all good things to do with marketing. We created this podcast for people to rethink about their marketing and the identity problem marketing has in businesses.
In this episode, we talk about reinvention and how disruptions and innovations are part of reinventing. We discuss methods that companies can follow to help keep themselves buoyant in times of crisis and how they should become someone leading their industry by focusing on innovation.
With COVID-19 causing a major disruption to everything in the world reinvention of the most basics of human interactions systems was required to help businesses work.
2 Types of people emerged:
The group who want to go into a bunker and wait it out for the pandemic to end whilst letting others solve the problems
The second group are people who wanted to take charge, reinvent things so that they can still continue doing things that their businesses needed to run.
Amazon reinvents all the time, they find out the products they sell the most and develop an equivalent product to make more money and they did that by just focusing on the customer.
Amazon has been able to create a system where their innovation is just part of everyday life and are able to create for the mass market. We always need to find the next big things like Facebook shops which is another reinvention to the process of the Facebook market place.
One of the most exciting things a company can do is to allow a ‘start-up’ mentality.
Innovation is utlising the status quo and improving on things. Disruption challenging the status quo and solving a problem in a way that hasn’t been thought of before. Covid was a disruption to business, and an innovation needs to be made to go around it.
Technology is also part of human behaviour.
Removing of KPIs can help build a company and unite a team.
Targets are a double-edged sword - a person who can do very well will now have a limit and the person who does poorly becomes stressed
Macro views support achievement.
Not everything works, if every innovation works for you then it is not big enough.
Companies should allow people to innovate in their daily space. by creating a collaborative culture.
Do something until it stops working, but always plan to improve it .
Ask what’s next, what else, what if.
Take information from everyone in the organisation and setup a system to do so.
Listen and facilitate, try new things, learn to reinvent, there’s opportunity on the flip side of everything.
01:00 - Unprecedented times
03:40 - 2 Types of people
07: 15 - Innovating and pivoting
12:25 - Reactive and Proactive problems
14:30 - Innovation and disruption
20:25 - 4 main categories of creative skills for a marketer
collaboration & communication
27:45 - Money or impact. Which to choose?
32:25 - Processes to enable creativity.
40:00 - Communication is good marketing
44:00 - Diffusion of innovation (bell curve)
56:30 - The infinite Game
Boss accidentally turns herself into a potato on Zoom