The world of business is – let’s face it – a cutthroat one. No company is “too big to fail”, and we reckon everyone reading this can name at least one business that was there one minute, gone the next*.
Why does this happen? Well, a company’s demise can be due to varying reasons and circumstances, and we’re not arrogant enough to list every single ex-business and why they left us.
We do think however that a big factor in companies falling behind their competitors can be summed up in one word – innovation.
In one of his (outstanding) talks, the great educationalist and author Sir Ken Robinson described how companies “are living organisms; if they don’t evolve, they simply don’t make it. Innovation isn’t an option.”
Robinson backs up his thoughts using the example of Kodak – the American company which was once the dominant force in photography.
By 2005, Kodak ranked No. 1 in the US in digital camera sales. A decade later, Kodak had filed for bankruptcy and had announced that it would stop making digital cameras.
As Robinson noted, people hadn’t stopped taking photographs – quite the opposite, in fact.
The issue was that these photos were being taken by mobile phones, not digital cameras. The innovation in the mobile phone market had caught Kodak napping and left it in the dust.
Innovation is constantly happening, and in every sector. For this blog post, we’re going to pick a sector completely at random, and explain how it too is experiencing innovation.
The sector we’ve picked completely at random is video production. Wow, what are the chances of THAT?!
In recent years, the world of video production has undergone a period of innovation of its own.
The most obvious example of this is the rise and rise (pun not really intended but we’re keeping it) of drones which have really “changed the game” when it comes to capturing aerial footage.
The innovation hasn’t stopped there, however. Have you checked out a 360 video – an effort created with numerous cameras which record all angles of a desired scene simultaneously?
How about a personalised video – a video that contains unique details to a viewer which makes it really connect and stand out from the crowd?
Finally, have you seen a video brochure recently – a printed publication with an LCD video screen enclosed within?
All this innovation is fantastic, but is it useful for your business? Well, funnily enough, we think it really is.
When it comes to marketing activity, businesses really need to keep up with the latest ways of nurturing new customers and keeping existing ones.
As we’ve explored before, video is becoming the leading marketing tool for businesses, which is why we see it as something that is “low hanging fruit” in this regard – a thing businesses can latch onto to help them achieve these aims.
Sadly, not enough organisations are doing this (yet) – so starting to use innovative video right now is your chance to steal a march on your competitors.
The really great news is that we can help you with this innovation – and much more! – so why not drop us a line and make sure that you remain ahead of the game?
* RIP the Woolworths Pick N Mix counter – we’ll NEVER forget you