Biz Takeouts Radio Show & Podcasts
[Biz Takeouts Podcast] 82: An African Path to Success & Effective Measure
By telephone on Thursday, 20 February 2014, we hosted David Blyth from Yellowwood Future Architects to find out more about the Informative innovation white paper the organisation has just released.
David: Transformative innovation is innovation that does more than just take market share from competitors. It is about transforming categories, unlocking new markets and creating favourable conditions for market growth. Crucially, for the African context, it is innovation that creates jobs and upskills, empowers and contributes to prosperity on the continent.
David: T-2 innovations create shareholder value only. This kind of efficiency-driven innovation can often lead to serious brand damage and limits long-term business growth. For example, shrinking the pack size of a product without changing the price.
T-1 innovation is the typical arena of customer innovation and could be considered the core purpose of business: to better give customers what they want. Much has been written on this area of innovation - see the Yellowwood blog for tips on better innovating to create customer value. This kind of innovation becomes increasingly difficult with time, as each category fragments and competition becomes fierce.
T innovation is where transformation begins. This kind of innovation creates market value, rather than taking market share from a competitor. It creates new categories or attracts new users to a category - generating far greater long-term returns for the business. MTN's introduction of Pay-As-You-Go, for example, transformed the niche, contract-only mobile telecoms industry into one of the largest, most profitable industries on the continent.
David: Transformational innovation has the power to turn South African and African businesses into global leaders, and to transform our societies for the better. It doesn't require enormous research or NPD budgets; it just requires being cognisant of your role in society, and in this phase of African development. It requires building a culture of innovation, respecting the views of all your people and committing to create real, people-centric value from new thinking - instead of simply approaching innovation from a product point of view.
Link to the white paper on Transformative Innovation: An Africa Path to Success
Get all the other questions, answers and more by listening to this week's podcast below.
In studio we chatted Alan Morrissey from Effective Measure South Africa to find out what they've been up to, and what is Effective Measure doing in the future.
Alan: Effective Measure did a research survey last year looking at ecommerce in South Africa, so we will be releasing the results of this research and how South Africans are shopping online.
Alan: I think it is an exciting time and a good move for the industry. The change will benefit publishers and brands who will not be represented by the IAB.
Alan: We are working on three exciting projects, various research projects, the release of the panel data to Effective Measure members as well as some brand information.
Get more information on Effective Measure to go: www.effectivemeasure.com
View some of Effective Measure's research, survey, case study and fact sheets below (PDF):
CMCI Fact Sheet
Custom Surveys and Research Polls
KIA AU Open campaign
Target Market Fact Sheet
The news roundup covered:
- Featured Job: account Manager
- Brand relevance and the printing press
- MTN radio Award entries exceed expectations
- Is hyper connectivity resulting in real world isolation?
- Five digital signage innovations to watch
If you missed the show, download (36.5MB) or listen to the podcast (39:00min).
Episode 82: An African Path to Success & Effective Measure
Date: 20 February 2014 Length: 39:00min File size: 36.5MB Host: Warren Harding