Innovating faster than competition
Not all innovations create a Blue Ocean*. Sometimes you just have to work in a Red Ocean. In that case, it’s important to stay ahead of competition. When sharing innovations from across the organization at inspirational sessions, I was often faced with the critique that it’s easy for competitors to copy some of those innovations. That is of course correct (if one cannot patent the innovation). However, don’t underestimate the advantages of being first.
When you’re first, you go through the learnings first, so you have an execution and scaling advantage. When you’re first and your innovation succeeds, your confidence grows, more innovative ideas emerge and you continue to stay ahead.
- An innovator in Australia needed a way to better engage customers at medical trade shows (exhibit booths). He knew that his Australian customers had learned that Google Glass was just launched in the US and that they were very curious to try one. The innovator had one Glass shipped from the US and announced demo sessions at his booth. Over 200 customers waited in line to try on a Glass (and search a publication about the innovators’ brand on the web with the Glass)! The investment of buying and shipping the Glass created 10 times more impact and ROI than traditional engagement approaches.
- Of course, competitors could very easily copy this. But who wants to wait in line again for a “second” experience?
- The innovator didn’t rest after his initial success. He build on this approach with new emerging wearables or technologies, like the Apple Watch and Google Cardboard. He became a celebrity with his customers and his company was recognized for innovation in medicines and innovation in value “around the pill”. His next step was to create the first symposium about the use of wearables in medicines.
As John Steinbeck said:
”Ideas are like rabbits. You get a couple and learn how to handle them, and pretty soon you have a dozen.”
So, as Innovation Leader, I made sure to share such innovative ideas (and associated learnings) as quickly as possible across the organization, so colleagues could quickly copy them and innovatively build on them. Thus staying ahead in the Red Ocean.
*More reading: Blue Ocean Strategy by W. Chan Kim and Renée Mauborgne
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