MIMA – Interactive Innovation in Regulated Industries

MIMASurprisingly – sold out event, which has been well-attended despite inconvenient time and slippery roads.  Most of the conversations about innovation were somehow centered around social media (what is the most difficult for the regulated industries).

A few notes beneficial for any industry:

  • Steady progression of shifting money to interactive marketing is observed (Hooray!  If it is happening even in regulated industries, the rest of us do not need to worry 😉  ).
  • Some companies predominantly work with outside agencies (the dilemma of hiring or working with an agency is still an interesting one…)
  • “Innovation does not live on its own – it is part of business strategy”  – business strategy should define where exactly to innovate
  • Blog management: internal blogs can be managed exactly as external ones.
  • Dear employee, want a blog?  Go to the internal channel and try a blog for a month.  Then, show a plan, and then get an external blog…  Even corporate PR were directed to the internal channel to try micro blogging.  It was a good move – at first, confused messages appeared: “Oh, gosh, what am I suppose to say??  Hm… I can’t spell!  Where is spell check? …”

Interesting free tool that allow instant polling (up to 40 responses on a free account)  – http://www.polleverywhere.com/ 

poll

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Book – Fascinate

fascinateTrue to its title, the book can truly be fascinating 😉  Thought the book is written by a marketer and the audience that can benefit from the book the most are marketers, the book is just a lot of fun!  Business examples are particularly interesting – different ways how brands use specific fascination triggers is very insightful.

The book even has a test for the readers to discover how fascinating we are  🙂

Fascination triggers:

  • Lust (anticipation of pleasure).  A picture of chocolate can also belong to this category. 
  • Mystique (unanswered questions).
  • Alarm (threat to immediate consequences).
  • Prestige (symbol of rank and respect).
  • Power (command of others).
  • Vice (Rebellion against rules).
  • Trust (certainty and reliability).  A product that is reliably tastes the same in different location is part of the category.

Different brands appeal to specific triggers to fascinate their customers.  It is generally desirable that a brand would concentrate on certain triggers rather than be all for everybody (as with any marketing strategy).

coke

FedEx

Disney

A great example of different triggers applied to ta specific product is hypothetical  diapers example:

  • Prestige: diapers with a specific high end “brand”
  • Trust: diapers that are sourced from earth-friendly materials and fully flash-able
  • Mystique: diapers that display a story/image interesting for parents only after the child wet the product

The book also has a test readers can take to check their fascination score.  Surprisingly, my strong “trigger” of fascination is power, with the second strong – trust.  My underutilized trigger is mystique.  Ha!  I so much wanted to blend in as an immigrant that it might be even working 😉