Keep innovating or get left behind

In today’s digital world where the only constant is change itself, businesses that stand still risk being left behind in the slow lane.

Originally published in a special report in The Times on 08 September 2016.
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When it comes to digital, you’re never really finished. In fact, the launch of a website, an app, a campaign or other digital initiative marks the beginning, not the end, of the hard work.

Why? Technology doesn’t stand still. Consumer demands and behaviours keep evolving. The competitive environment is turbulent and full of disruption. And every day and every interaction your customers have with your brand, you learn a little bit more. Consider each of these ideas for a moment.

Right now there are people all around the world dreaming up new ways to do and improve things. These could be micro-innovations, such as the development of a new tool for measuring social data. Or they could be bigger innovations, as we’re seeing with augmented reality, virtual reality and artificial intelligence. It could involve advances in cognitive computing and machine-learning or breakthroughs in connected living and the internet of things. Or it could be a minor search algorithm change by Google or advertising algorithm change by Facebook, with major ramifications for marketers.

 

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