Evaluate resources before innovating

New Ideas in MarketingEssential news for marketers, summarised by YouGov
February 25, 2021, 4:29 AM UTC

Conversing honestly with stakeholders helps secure their buy-in for a new project.

With COVID-19 compelling brands to forego long-term innovation plans, here’s what businesses could do to innovate while managing resources effectively. To strike a balance between taking up new initiatives and running existing projects, prioritise goals and marketing ideas with proven returns and measurable metrics.

Evaluating resources and mapping out a measurement plan is recommended to decide whether to implement a new concept or not. Having a flowchart would help brands ensure there aren’t any blocked “lanes” and effectively delegate work, automate, and deprioritise regular work for the new project.

Collaborating with other departments in the organisation for new ideas can help brands ensure they are on the same page and avoid any potential overlaps and conflicts. Monitoring high-priority items and high-value work should help brands effectively manage new projects.

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