To help organizations leverage the optimal tools and processes to achieve best-in-class marketing innovation, industry thought leader CapabilitySource has released the latest blog in their Insights series, “Making the Case for Marketing Innovation.”
Reflecting key findings and industry statistics from CapabilitySource President & CEO Glenn Coward and Marketing Manager Eve Bova’s presentation at the 8th annual Digital Marketing for Financial Services Virtual Summit last December, the blog provides a detailed roadmap for successful companies to define, implement and measure marketing innovation.
Defined by CapabilitySource as “new things or new ways that create value for the marketing team or to a consumer marketplace,” marketing innovation is dynamic, strategic and bottom-line focused. With 18 to 21 percent of marketing leaders’ budgets allocated to this critical and growing area, marketing innovation helps high-performing marketing teams interact better with themselves and their customers.
Marketing innovation falls into two key areas: operational and transformational. The former typically makes up the majority of a portfolio and introduces a new way of doing something to maximize an internal marketing team’s performance. Operational innovations reduce costs, project set-up and time-to-market while improving capacity, productivity, quality and efficiency.
Transformational marketing innovations impact a company’s consumer audience by introducing a new product, service, channel or communication vehicle. Designed to disrupt the marketplace and establish brand differentiation, successful implementation of these tactics increases demand and revenues.
The “Making the Case for Marketing Innovation” blog also includes information on how to leverage CapabilitySource’s Planning Agility and Marketing Work Management Benchmark tools and other resources.
“This is the time to take advantage of marketing innovation,” said Coward, whose company offers marketing technology, operations and alignment solutions to address their clients’ unique challenges. “I encourage marketers to develop a balanced marketing innovation portfolio that includes operational and transformational innovations to help you build your brand, maintain a competitive advantage, and drive your business.”
To learn more about CapabilitySource’s fully digital, highly integrated and modern marketing experience, visit www.capabilitysource.com or call 866-406-2790. To read the “Making the Case for Marketing Innovation” blog, click here.
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