Innovation is critical to succeed in today’s highly competitive environment. This is one of the reasons I support the iMedia Breakthrough Summit each year.
For the past few years I have served as an advisory member for the summit. As a marketing technologist, I love it when marketing and technology come together to discuss emerging technology and how it can enable new forms of value creation.
This year, I also took the stage with Jeff Donaldson of GameStop. Jeff was the CIO for 14 years and is currently leading GameStop’s innovation practice.
The GameStop Technology Institute is responsible for enabling innovation within this Fortune 500 organization. This presents unique opportunities and challenges when it comes to integrating emerging technology into a heavily linear organization.
We discussed a number of topics from Jeff’s philosophy and approach to innovation to team structure and how he leverages 3rd parties to the role innovation plays when partnering with the marketing organization.
Jeff outlined his approach to innovation which was captured by the iMedia team during our discussion. Below is an excerpt from the session.
The first step is ensuring that everyone in your organization is aligned and on the same page when it comes to measurement. Only when important factors are identified can a strategy be put into action for collecting data and analyzing it.
The next step is identifying what data you need to collect to drive that measurement and implementing it through equalized channels.
Next, consider the ability to bring in as many people as possible to work with you to get your ideas realized, which include more than just your innovation team. When it comes to the creation of ideas, your employees and your customers can both get involved and contribute.
Build innovation platform
Then comes the step of creating the platform where your innovation can live. Building this platform for innovation also includes test markets to work through the kinks of your ideas.
Finally, collaboration is key to success. Don’t be afraid to incorporate all of your teams (finance, marketing, IT, and executives) into your plans and ideas for innovation.
Multiple factors come into play when outlining the ideal approach to innovation within an existing organization. The role of data, understanding which 3rd parties will align with the existing team structure, how to democratize the process of innovation and what factors will lead an emerging technology into becoming a fully integrated asset to further support marketing efforts all must be considered.
The key is having the right partner that understands your business, has relationships with the right 3rd parties, (start-ups, technology partners and platforms) has resources with relevant domain knowledge to extend your team and understands how to bridge the gap between emerging technology and full integration into the existing organization.
Follow Tom Edwards @BlackFin360