Part TWO: 6 Innovative Strategies in a Competitive 2018

Part TWO: 6 Innovative Strategies in a Competitive 2018

October 24, 2018

Without brand innovation, it is impossible to grow in a competitive market.

 

Last week, we launched the first two 2018 competitive innovations launched by Pepsi and Oreo Ice-creamportraying the importance of introducing of something new to keep growing in a competitive market, which is the definition of innovation.

Today, we continue sharing with you two more innovations EG Bank and McDonald’s utilized to connect with their target audience, to get inspired by for 2019 innovative strategies.


Innovation #3: Creativity in communicating a common pain point, which organically goes viral, genuinely put a smile on a suffering crowd, and clearly connects a common problem with an instant solution.

For example, earlier in Ramadan EG bank launched an ad portraying a common pain point of Raouf, the character no one sees or takes into consideration as the “new guy” in a new work place, through delivering the big idea of “Mahdsh by3mlak Hesab.”

The message of “no one every takes you into a account” established a bond of similarity with the youth target audience who are in the consideration stage of opening their own bank accounts, making them feel that EG Bank will not treat you the way you hate and fear to be treated in the adult world.

“One of the best ways to learn your customers’ biggest problems is by really listening to them.”

 Qualitative Analyst, Marketeers

Innovation #4: Utilization of Digital Methods and technologies, which engages target audience, and maximizes convenience of purchasing processes, while saving cost and time from the provider’s side.

For example, the introduction of automated self- service machines that facilitate the ordering process, reducing human errors, and enabling customization such as “McDonald’s digital kiosks”.


To be considered innovative, brands must regularly have something fresh for consumers to talk about. And it does not have to be a game-changing innovation that addresses unmet consumer needs — even minor upgrades can generate buzz.

“Innovation is centrally concerned with creating new patterns of behavior – not out of nowhere, but rather identifying early signals about cultural changes”

Lucy Kimbell

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