Measurement is a major issue when it comes to new innovation.
This article cites a report by Gartner stating that risk-aversion, limited talent and an inability to measure impact are the three key challenges in marketing innovation. The report adds that the marketing industry is dithering in innovation despite commanding 16% of marketing budgets and establishing itself as a core discipline.
It states that marketing leaders face difficulties in finding the right talent for innovation. Gartner’s Elizabeth Shaw adds that hiring managers must ensure there is an alignment between hiring and upskilling priorities and the organisation’s strategic innovation needs.
Of around 400 marketers surveyed, nearly one-third worried about maintaining their brand’s relevance while 30% struggled with creating a compelling brand vision. The report recommended balancing brand consistency and responding to individual market needs.
[2 minute read]