From the invention of the wheel, to the invention of the internet and the first smartphone we observe one common element. This element is what fuels our brains, sparks our creativity and lights up our ambitions to create something new and magnificent. In case you are still wondering what we are talking about, of course we are talking about innovation. Innovation is what brought us here today and what makes us discover new better solutions to our needs every single day. In other words innovation makes the world go round.
Over the years innovation was always highly related to technology and adopting new techniques. Companies believed that in order to innovate, become more productive, and expand they should adopt new types of technology. Although at some point this scenario was true and it did happen a lot, it seems like things are changing. The pandemic has changed the way we think and act in many aspects of our lives and affects this part as well. Forward-thinking entrepreneurs lead the way abandoning the technology focused model and starting to look at other options as well. This means that the way we perceive innovation is changing and it was about time to do so. Keep reading and find out how innovation is reshaping business today and what innovation will look like in the future.
Change Customer Interaction
The first thing companies focus on when it comes to transforming their business model is customer interaction. Innovating in the way a company interacts with its customers can produce amazing results and it looks like some businesses start to realize that. Although we are all quite familiar with the saying “customers are always right” it seems like many companies aren’t. Studies show that customers who have not been treated well are most possible to switch brands. So if you are looking for new innovative solutions to expand your business, start by treating your existing customers great. Find ways to enhance customer interaction and most importantly be polite, be understanding, be rewarding and appreciate your customers.
Focus on Sustainability
Another innovative solution for companies nowadays has to do with adopting a sustainability mentality. Many companies over the world are starting to reshape their business model turning their products and services into sustainable ones. Studies show that customers every day are more concerned about having a positive impact with the purchases. That is why we can observe a massive swift to sustainable products all over the world. Take advantage of this situation and try to find ways to make your products and services sustainable. Sustainability creates a more positive image for both your brand and product and most importantly has an actual positive impact on our lives.
Create Social Responsibility
The same way customers tend to prefer companies that have sustainable products and services, they also tend to prefer socially responsible companies. Corporate social responsibility has been around for many decades but today it is booming. Another great way to be innovative in today’s marketplace is by creating a social responsibility plan. This will help you provide solutions or assistance to problems that affect your community having a positive impact. This also creates a better perception of your brand into people’s minds which means it is a win-win situation. Help your community, be socially responsible and the results will be rewarding.
Invest in Emotional Intelligence
When we think about innovation we create an image of really smart people working together towards a goal. High IQ is being appreciated by many companies over the years and has been an important part of their recruiting process. Although high IQ will always be an amazing addition to anyones skillset it is about time we invest in Emotional Intelligence. EQ is the new way of boosting innovation and producing better results. People with high emotional intelligence and great soft skills seem to be the answer to the worlds hardest problems. Invest in these people and don’t neglect them because they will be difficult to find in the future.
Technology will always play a massive role in our evolution and will always lead the way to new paths. The more familiar we become with technology though and the easier we are provided access to it, we will always search for alternatives. Innovation is what makes the world go round and will continue to do so. So jump on the innovation wagon and hold on to it tight because you wouldn’t want to miss out on it.