Mind cleared - question remains
Having spent some splendig days in the region of Milano - at the river banks of the beautiful Ticino, one simple question bothered me all along.
At one of the keynote presentation at the Marketing Efficiency Congress, Michael Moon stated: there are only two ways to create value - innovation and marketing.
Thinking about that I felt at first a bit uncomfortable. Is it just these two?
Well, it definitely isn't any less than these two.
I do think however, that with Web2.0 having now joined the familiy of mainstream media, involvement is a new factor to this equation.
Through involving the individuum in the construction and building process of products, involvement is adding to the value. With Wikipedia as one of the biggest and clear most involving publication, a huge part of its value is involvement.
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Marketing and Innovation
Ha! Actually, Peter Drucker said: "There is no other purpose for the firm than to find and keep customers...Only two things create value: innovation and marketing. All else is cost."
While I agree with the need for involvement, I don't see it rising to the level of innovation or marketing as a board-level concern. Adding social to marketing by definition constitutes involvement. Adding collaboration (communication, interaction) to innovation defines "innovation leadership."
Unbeknownst to many, marketing and innovation have now fused into an integrated customer-marking process--pre-sales and post-sales.
This requires a new mindset, new tools, and new processes; it requires innovation from the bottom-up -- the main point in in my keynote at Marketing Efficiency Congress: Marketing Revolutions from the Bottom-up!
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Involvement as a board-level convern
Involvement certainly has become a board-level concern.
Especially in a negative way. Think content-producers and intellectual property.
Peer to peer exchange of music, videos, literature is uncontrolled and unharvested customer involvement going ballistic and either putting companies out of business or forcing them to compensate the effects through innovation or marketing.
In our flat net world, companies innovating products in the field of consumer involvement (e.g. Dooyoo) feed on the inability of producers to innovate themselves in the field of consumer involvement processes.
What about the powers of viral campaigning?
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