11 December 2019

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Innovation in Marketing Spells Out Success

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Marketing innovation is something which can do wonders to any business. SMBs should consider marketing innovation as a priority as for them it is really essential.Innovation is such a bread earner that people have realised its potential at all levels.

Innovation doesn’t really limit itself to the product development phase but also involves extremely positively for the over all business development activity.

It could be an endless discussion to elaborate the strength of sales and marketing practices that a business could adopt. Having said this, certain innovative marketing techniques have clearly reflected exponential returns to the businesses and we all should know these innovative techniques and learn from them. There are many successful case studies available to us which authenticate the potential of innovation in marketing tools been used by lot of small businesses.

“Marketing is really one such tool that can decide the fate of any business. This had proven to be a very influential part of our day to day business activity. I always believed in a fact that people or customers gets attracted towards something which they wanted or they miss in routine daily life,” said Deepak Kumar Singhal -- a Delhi NCR based real estate consultant and builder. added, “In our field innovation is key because everyone knows about the mushrooming of property agents and small sized property dealers”, he added. Innovation of marketing has resulted very positively for me. When I started using my blog, social networking profiles on internet I received good feedback. But this practice is nothing new in this area. Many of my counterparts are having online presence in a strong manner.

Interestingly, Singhal pointed out that the new people who were coming to his office in search of a suitable, safe and comfortable place to live needs few assurances. “Today everyone is busy and occupied. Almost all the members of family prefers to work. This led them to hunt for an ease to manage home. I understood the exact set of requirements where I could do some help to such new comers to our society.”

However, Singhal started offering a phone based utility service to about 100 households in Faridabad area and Gurgaon area. He arranged a set of technical experts like an electrician, plumber, car mechanic, grocery shop etc. This is a valued piece of information for all those who are moving to a new place.

There are many such examples which could led a successful business development activity. What is to be understood is the fact that each and every business has its own niche areas and issues. These issues should be addressed differently and if they are addressed properly and effectively they automatically becomes innovative marketing tools and techniques.

Must-Do for innovative and effective marketing

It is extremely important to compare your product's or service’s guarantee to your main competitors. Find a niche where you can design your guarantee or assurance to be more effective and influential. In addition to this, personalized approach in communicating with the prospective client is very important. Be it an e-mail message or greeting anyone individually, it has to have a personal touch within.

However, presentation skill also play vital role in impacting on the prospective customer or client. It is highly advisable to take care of small and minute details like text size, colour, graphics as these small things can really make a positive difference.

Marketing mantras to consider

According to marketing gurus, it is very crucial to design the costing of product offerings and services offerings in an aggressive manner. “Sometimes, costing plays very decisive role in the success of any organization’s fate. Ideally, it is advisable to keep offerings flexible. Fixed pricing structure for the products and services can effect negatively for the company in such situation an optional payment plan can help in a big way,” says Randhir Wadhawa an independent marketing consultant. 

Start your own internet presence or if possible try to innovate with the use of internet socio networking sites. It could be related to the theme of your web site and you could advertise your products.However, it is also an intelligent trend to offer consulting to the customer as a value addition to the existing set of offering. A half an hour of free consultation can result into immense business.

Having said all this, a company has to be open for innovative ideas and ready to implement new positive ideas. Wadhawa also added, “One thing, always to be kept in mind that never ignore or rule out any innovative idea. Ideas could pop in front of the entrepreneur from anywhere. It could be competitor, employee or even some outsider who has nothing to do with our business.”



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