©IDG Communications, Inc. Photo contributed by Matthew Mikaelian.
Social media have accelerated our ability to be innovative, allowing us to identify gaps in the market more quickly and find new ways to improve customer service. As for what it takes for a company to be truly “innovative” today — and seize the opportunities social media presents — I’ve learned through my experience as head of marketing for a major retailer, and now, as a CMO who markets a social media solution to companies of all types, that the same set of “rules” apply to any organization, big or small. They are:
Never fall in love with yesterday. When things are working well — and sales are up — there’s an irresistible temptation to keep doing more of the same. This may be good policy for the short term, but ultimately, it leads to lost opportunities and can jeopardize the long-term success of your company. As a CMO or other company leader, it’s your job to position your company, both on its own merits and within the competitive set with which you operate. The speed of competitive change today is outrageously fast, so don’t get left behind while clinging to past successes.