Most people think that the business world moves pretty slowly—that once it finds a strategy that works, it sticks with it until it is absolutely forced to move on. Why else would most radio commercials be so lame? The truth, however, is that the business world—particularly the marketing sector—moves at a truly rapid pace. Every day there are new techniques and strategies being developed to help entrepreneurs and corporations improve their bottom lines.
One example of this innovation is how quickly businesses big and small are adopting video as a means of promoting their products and projects. The True car Youtube channel is a great example of this. They use the power of video to show you what other people in your local area have and are paying for vehicles. This will help you make sure that you aren’t overpaying for the car that you want to buy. They also accept video based reviews of buying experiences as a way to help consumers figure out where to shop for their next automobiles. Sure, this would be easy enough to do in a press release or with articles, but True Car understands that video adds a personal touch that can’t be obtained through basic text on a page.
You might not think that training is anything new. Every business has to train its employees. GE, however, has recently found out that if you really want your managers and employees to do their jobs properly, you need to train them together. One of the reasons that projects take so long (or fall apart completely) is because the members of that team have different levels of training and understanding of the project at hand. By having the team go through the training and learning process together you don’t just help keep everybody on the same page, you help them bond and figure out better ways of working together to get the job done.
Nowhere is innovation more important than in the toy industry. Mattel, the company that is desperate to constantly build on the popularity of their Barbie brand, has started project Platypus. Different players from every department within the company rotate into the project for three months at a time (which is often staggered). The team is given lots of leeway in terms of product development, research, etc. The idea is to utilize a variety of skill sets from a variety of fields and see what happens when that variety is tossed together and told to make something. The skills and ideas they pick up while rotating through the team are them taken back to their “home” departments to encourage innovation and creativity there as well.
There are lots of ways to improve your business and encourage innovation and creativity. These are just a few ways that companies are doing that and how they are putting that innovation to work