Innovation has become a buzzword. It’s tossed into mission statements, splashed across marketing campaigns, and championed in boardrooms. Yet, in practice, most businesses are simply iterating, not innovating. As I shared in a recent LinkedIn post, true innovation is a metamorphosis—a complete transformation that redefines industries, cultures, and strategies.

This article dives deeper into the reality of innovation, how it differs from iteration and digitisation, and what it means for marketing, strategy, and navigating a world of perpetual disruption.

1. What Is True Innovation?

At its core, innovation is radical. It’s not about incremental improvements or wrapping technology around existing systems—it’s about disruption, risk, and novelty.

The Five Pillars of True Innovation

Metamorphosis: A complete transformation, such as Netflix shifting from DVD rentals to a global streaming giant.
Upheaval: Disrupting established norms, as Uber did to the taxi industry.
Novelty: Exploring uncharted territory, like Tesla pioneering electric vehicles at scale.
Risky: High failure rates are part of the equation; 70% - 90% of innovations fail, according to HBR.
Expensive: True innovation requires deep pockets to absorb losses and fund breakthroughs.

Example: SpaceX’s journey to reusable rockets exemplifies innovation: it was risky, expensive, and entirely novel. Iteration alone wouldn’t have revolutionised space travel.

2. What Innovation Is NOT

To understand innovation, we must also debunk common misconceptions. Many businesses mistake iteration and digitisation for innovation.

What Innovation Isn’t:

Iteration: Releasing new versions or adding features to existing products. For example, a new iPhone model is an iteration, not innovation.
Digitisation: Wrapping technology around traditional systems, like offering digital banking services without rethinking the core customer experience.
Attainable by Most: Real innovation is not a plug-and-play solution achievable within the constraints of most organisations’ resources.

Key Insight: While iteration and digitisation are important, they’re not transformational. They’re the scaffolding, not the skyscraper.

3. Innovation and Marketing: What It Means for Strategy

Innovation isn’t just a product of R&D; it’s a mindset that must permeate every aspect of the business, including marketing strategy. In a world where disruption is the norm, marketers must lead the charge in embracing change, reinvention, and risk-taking.

Marketing as the Engine of Change

Marketing is uniquely positioned to drive innovation because it sits at the intersection of customer insights, technology, and strategy.

How Marketers Can Embrace Innovation:

Challenge the Status Quo: Don’t settle for tried-and-tested campaigns. Experiment with new channels, formats, and narratives.
Create Blue Oceans: Focus on untapped markets and unaddressed customer needs rather than competing in oversaturated spaces.
Invest in Brand Reinvention: Brands like Old Spice and Lego thrived by reinventing themselves to meet new customer expectations.

Example: Dove’s “Real Beauty” campaign was an innovative marketing approach that disrupted traditional beauty standards, creating an entirely new narrative in the industry.

4. The Role of Iteration and Digitisation in the Bigger Picture

While not synonymous with innovation, iteration and digitisation play crucial roles in the broader ecosystem of change. They provide the foundation upon which innovation can thrive.

Iteration’s Role in Marketing:

Iteration ensures consistency and efficiency in marketing efforts.
It allows brands to refine campaigns, optimise content, and adapt to market feedback.
However, over-reliance on iteration can lead to stagnation, with brands failing to take bold, transformative steps.

Digitisation’s Role in Marketing:

Digitisation enables scalability, automation, and enhanced customer experiences.
It allows marketers to leverage AI for personalisation, data-driven insights, and omnichannel campaigns.
Yet, digitisation without true innovation often results in superficial changes that fail to deliver lasting impact.

5. Navigating Perpetual Disruption

The world is in a state of perpetual disruption, driven by economic shifts, technological advancements, and changing consumer behaviours. For marketers, this creates both challenges and opportunities.

How to Stay Ahead:

Adopt a Reinvention Mindset: Continuously rethink strategies, even when they seem to be working.
Focus on Agility: Be prepared to pivot quickly in response to emerging trends and disruptions.
Invest in Learning: Build a culture of curiosity and experimentation within your team.

Stat: According to Gartner, 89% of CMOs plan to rely heavily on digital innovation to drive growth in the next five years, but only 40% have a clear roadmap for doing so.

6. Building a Culture of Continuous Reinvention

True innovation requires a culture that prioritises risk-taking, learning, and adaptability. For marketers, this means fostering an environment where teams feel empowered to challenge conventions and experiment with bold ideas.

How to Build This Culture:

Reward Failure: Celebrate lessons learned from campaigns that didn’t succeed.
Encourage Cross-Functional Collaboration: Break down silos between marketing, product, and technology teams.
Invest in Thought Leadership: Attend industry events, collaborate with innovators, and stay informed about global trends.

Example: Google’s “20% Time” policy, which encourages employees to spend 20% of their time on side projects, has led to innovations like Gmail and Google Maps.

7. The Future of Innovation in Marketing

Looking ahead, innovation in marketing will increasingly rely on AI, sustainability, and customer-centric design. Brands that prioritise these areas will not only survive but thrive in a disruptive world.

Trends Shaping the Future:

AI and Automation: From predictive analytics to generative AI, these tools will redefine how marketers engage customers.
Sustainable Marketing: Customers are demanding that brands take meaningful steps toward sustainability.
Experiential Marketing: As digital fatigue grows, brands that create memorable, immersive experiences will stand out.

Conclusion: Redefining Innovation for Marketers

Innovation isn’t easy—it’s expensive, risky, and unpredictable. But it’s also necessary in a world of perpetual disruption. For marketers, when innovation is not feasible, look to reinvent. Embrace change, challenge conventions, and take calculated risks to create meaningful connections with customers.

As I mentioned in my recent social post, “Innovation has become a load of codswallop” because too many companies conflate iteration and digitisation with true transformation. By redefining what innovation means and embedding reinvention into every aspect of marketing strategy, we can drive real change that resonates with customers and redefines industries.

Citations

CB Insights: "Top Reasons Startups Fail"
Gartner: "Digital Innovation in Marketing Strategy"
Forbes: "The Role of Agility in Perpetual Disruption"

Musings

Redefining Innovation: What It Means for Marketing, Strategy, and Change