My feeds

Friday, August 8, 2008

Connect with people,Seek Insight, Always Innovate

Ok everybody,
I got this photo of a book cover published by Elephant Design. Interesting points mentioned there:

Connect with people
Seek insight
Always innovate

I guess these three lines sums it up all when one needs to innovate.

Connect with people: Business should connect with people. One of the ways to do that is Co-Creating. Manish made an Interesting point in the last article which mentions Co-Creation with customers. I guess companies connecting with people and involving them into the pdt./service developing processes have a distinct advantage of not only knowing what customers want but also generating sense of loyalty from customers and developing trust. Intangibles like Trust, Loyalty, admire, etc., are the only things left which are helping companies charge extra premium for their product/services without consumers sulking. Eg: Starbucks charges around $4 for a normal cup of coffee but consumers are mad about Starbucks cause it is able to connect with its consumers who ultimately turn into PR agents propoganding about brand.
Within Indian consumers how many companies/brands/products do we really connect with and are willing to pay extra for them. Are we extreme loyal to any company/brand/product.
I guess there is a huge opportunity for Indian companies to connect with people and create extraordinary products which consumers feel attached to.
The other thing is about CEO....i m not sure, but do we have CEO's connecting with people, like Richard Branson does.........I was watching Bosses day out and head of Dabur, Amit burman during the show hopped on to a bike as a pillion out of his luxury car & went to a distributor in a busy market area. I guess more CEO's needs to be willing to get his/her hands dirty and connect with real people.

SEEK INSIGHT: The other step in path to innovation is one's ability to Seek Insight. Companies, I guess are too much focused on quantitative studies but I guess there has to be an element of qualitative aspect involved. Studies like behavioral patterns, Influencers, psychological mindset, etc should be there. Seeking Insight as to what students expects from educational institutes, what do shopper's do when they enter mall(guys at Pantaloons have already cracked this and have created a business), why do we have a congestion on roads, etc. In today's scenario whichever company is able to get insight and convert it into business model creates a new market & expands.

Always Innovate : We cannot argue that companies cannot survive just by fixing what they have created but have to keep on creating something every now and then. Innovation is not easy but I guess the above points can ease the process & make it enjoyable too.

So till next time
Keep Innovating