Finkle, Ph.D., CEO of Passenger, discussed how online communities are increasingly
driving innovation. Today, communities
in the online space provide both collaboration and insights. In the past brands
were in control. For decades, brands basked in the glory of control, control
over consumers' perceptions, impressions and ultimately decisions and ensuing experience.
evolution. These days, the environment has changed drastically and
organizations have learned that they must have an active social media presence
to be successful. In fact, 85 percent of users believe a company should not
only be present, but also interact with its consumers via social media.
Brand' taps into the true power of social networks, brand connections, and
customer participation to build real value. 'Now, brands recognize that there
are communities of customers out there who are relied upon to come up with
ideas and carry ideas out through brand advocacy,' said Finkle.
customers, but you have to impact them as well by making a connection. Brands
either live or die because of this dynamic. Therefore, the need to innovate is
now more important than ever before.
According to Finkle, you must innovate your brand or you will perish as
negatively impacted the value and future of brands,' he explained.
and that is what takes place in communities. There is growing evidence that you
have to approach the collaboration process more thoughtfully. Another key
aspect of successful innovation is understanding customer needs. In fact, Ted
Levitt of Harvard University once said, 'People don't want a quarter-inch drill
' they want a quarter-inch hole.'
'What do we have to make'? Instead, ask 'What does a customer need done right
now'? Or even better, 'What will the customer want next'?
Amanda Ciccatelli, Social Media Strategist of the Marketing Division at IIR USA, has a background in digital and
print journalism, covering a variety of topics in business strategy, marketing,
and technology. Amanda is the Editor at Large for several of IIR's blogs
including Next Big Design, Customers 1st, and ProjectWorld and World Congress for Business
Analysts, and a regular contributor to Front End of Innovation and The Market Research Event,.
She previously worked at Technology Marketing Corporation as a Web Editor where
she covered breaking news and feature stories in the technology industry. She
can be reached at email@example.com. Follow her at @AmandaCicc.