Angela is best known in the Triangle area for designing experiences that draw thousands of new customers to mixed-use developments and downtown businesses.According to the latest subscriber figures (opens in new tab), the top five most popular subreddits - excluding the No. She is the founder and co-owner of Populate Productions, a North Carolina-based event and media production agency. Additionally, through student contests, promising innovators can be identified and recruited early without competing and wading through the talent pool.Īngela Fisher is a seasoned experiential strategist focused on project management and partnership development. Organizations that have a strong solicitation plan through contests and recognition are able to foster outside and in-house innovation on a smaller budget than most. The best way to reinforce innovative contributions is to acknowledge and show appreciation for the achievement. At the onset of the Covid-19 crisis, the strength of supplier relationships greatly affected business continuity and resilience.Īccording to an article by Neils Bray on Supply Chain Dive, “The closer and stronger a pre-existing supplier relationship is, the more likely it will persevere through a crisis - even if business is paused or disrupted.”Īlways, but especially during tough times, taking the time to recognize employees, customers, supply chain partners and even community contributors goes a long way toward fostering innovation. However, now is the time to consider this possibility.Ī supplier relationship that is built from the start with innovation and transparency at the core can be a priceless asset that contributes to agile growth. In the not too distant past, business leaders often overlooked supply chain partners as part of the innovation process.
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Software solutions for creative contributions also assist with busy schedules, and aid creative timelines for those employees that tend to do their best thinking away from the office. Without a chosen method of contribution, and a communicated timeline of review and response, the process can easily become a bottleneck.īy providing a space, such as project management, creative, or polling software to solicit feedback and ideas, employees will be able to respond when they have had an opportunity to prepare. When all employees are innovators, it is necessary to provide space and time to think creatively and provide responses and ideas that will be seen for consideration. This is key to competitive agility, profitability, and sustainable innovation. In return, employee engagement has shown to increase, as perceived value in contributions increases. By engaging all employees from the very beginning, an organization will be better able to take advantage of opportunities, identify potential issues and develop creative solutions in a proactive manner. Employee Empowerment leads to InnovationĪ critical rule to follow when it comes to maximizing the innovative value of a workforce is to involve each and every employee in the process.Īccording to a report by the Corporate Innovation Imperative, 57 percent of companies reported fostering a culture of innovation and experimentation was a top challenge for them. Additionally, solicitation of information from customers and clients can decrease reaction lag, reduce or eliminate the cost of redesign, and increase innovation effectiveness.Ģ. This is significant in that a study by Brand Keys found a mere 7 percent increase in loyalty can elevate lifetime profits per customer by as much as 85 percent.
Notably, a Sprout Social survey stated 85 percent of customers are likely to remain loyal to a business during a brand crisis if it has a history of being transparent.
In the case of rapidly changing needs and a newly competitive environment, it is absolutely imperative that loyal customers remain engaged.Īccording to PwC, “54 percent of companies say customer engagement strategy helps define innovation from early ideation,” and “35 percent of companies say customers are their most important innovation partners.”īy increasing transparency to customers, organizations empower loyal supporters to provide real-time feedback, advice, suggestions, requests and the desire for future innovations. Perhaps a business model has or will need to shift dramatically. Increase Transparency to Involve Loyal Customers 5 Budget-Conscious Ways to Remain Innovative During a Crisis:ġ. Complicated as it may seem, experts agree that committing to a culture of innovation will assist with post-crisis recovery and growth.
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