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How Can Agile Innovation Help in Marketing?

How Can Agile Innovation Help in Marketing?
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You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Does your organization work on a rigorous innovation strategy? There are varied kinds of innovation strategies adopted by companies in order to market themselves. From many recent years, there is been a buzz about Agile innovation methodology, which is taking rounds of the marketing arena to help improve companies’ efficiency, productivity, hence an overall growth.

Agile Innovation, is a process of taking very bold ambitions and breaking them down into the pieces of tasks to focus on them individually. The way agile innovation works is to build small, stable, focussed, cross-disciplinary team that take very large complex problems.

Many of the bold IT and e-commerce firms like Amazon and SpaceX have embraced agile innovation methodology to ramp up their growth, which has indeed helped them in attaining their long term goals and objectives.

It is not a tricky tool of marketing, or a gimmick that companies should adopt. The Agile innovation methodology is something that will change your approach towards innovation once you'd understand what it is and how exactly it works.

Over the years, agile methodology has improved quality and speed to market, and boosted the motivation and productivity of IT teams. Prof. Darrel Rigby shares a comprehensive view on it explaining how Agile Innovation methodology works.

How can Agile Innovation benefit companies?

It can help companies in:

  • Being more adaptable with changes 
  • Improve speed to market
  • Improve morale and productivity of team

These #6 fundamental facts will help you understand how it works:

  • No innovation system is perfect for all situations

The key of the success is not in just one innovation. The key of the success is to have wisdom to select right things at right time, what to use in what situations, and in what way. At first, one must always try and try. On the other hand one should not put all eggs into one basket. Thereby, the company need not to throw good money after bad.

  • Under prescribing and over prescribing kill value

Companies should always mark on it that under and over prescribing both kills value. For instance, you want to have a world's best cuisine and you have a world class chef for it, but you may not like what he cooks and he may not know what you like. Therefore, clearing things between each other helps in maintaning and building a value. 

  • Happiness and Creativity are linked

'The people who are happier, are more creative.' is how it is linked with each other. A company should always aim to make its employees happy and satisfied. The real asset of any company is the happy and satisfied batch of human resources.

  • Real-time face to face conversations

Talking in person to anyone helps in understanding things in certainly a better way in an organization. It isn't necessary what you tell over phone or in an email is how exactly you will elaborate that in person. Therefore, the real time communication with each other is very important in an organization to follow by every management level. 

  • Fear of loss has twice the psychological power of hope for gain

This is an important point to consider if you are introducing new methodology or agenda to follow in an organziation. The employees should have a boosting morale to adopt a new techynology at any time the organization pitches it in. The agile methodology helps in reducing psychological pressure in varied ways. 

  • Two-thirds of successful innovation pivots

If you’d go back and see what agile innovations has done, you will find the two thirds of it. One should always For example, YouTube started out as an online dating website

 

 

 

 
Edition: April 2017

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