| Beware the L.O.I. (Lack of Innovation) Editor's note: The following is part of a series from CultureWaves, a tool for tracking and anticipating consumer trends. The columns will provide insight on topics such as lifestyle choices, demographics and media perception. Lately, critics and the general public have blasted the entertainment industry for its supposed “lack of innovation.” They go after everything from the dragging newspaper business to weak video game releases to Leno as the new guy at NBC and to how the film industry hasn’t seen a new concept since — well, when? However, the “nerdsphere” is particularly pumped about the possibility that George Lucas will make a “Halo” movie. So the big buzz is the potential of a movie made about a video game, of which Microsoft — they own “Halo” — says they have “nothing to report.” So why should you care if John and Jane Doe are bored with their current news/TV/movie/video game options? Because, ladies and gentlemen, if the entertainment industry is under scrutiny, we are certainly next. And that collective sigh we hear coming from the general public isn’t related just to their decreased pay, troubling housing index and general malaise; it’s the vacuum in the lack of new. Sure, LTO sales seem to be up and Starbuck’s Via is a new product that looks to compete well with the instant coffee market — of course, nobody but the instant coffee people care. These are just “same old things” surrounded by a new brand. Some poor chap’s job is to find out what’s happening with Company A, run it through a computer and discover how much Company B can make off the same thing. This is not innovation; it’s merely replication. 
Andy Ford, Chief Insights Officer | So why is true innovation deathly ill? Primarily, we don’t have the time to allow a market to mature around a new product. We are afraid of failure, loss, and, frankly, the R&D departments are being turned over to the bean counters and account-service types who will damn sure protect the bottom-line above anything else. Hopefully, this is just a season. While securing profit by streamlining the back-of-the-house and cutting back on innovation and idea exploration are timely for survival, they also are the first few shovelfuls of dirt digging the grave of your brand. |
Innovation should be passionate as well as timely and appropriate for the marketplace. I have seen fewer and fewer foodies helping out in the pipeline over the last year, and it makes me wonder: If we launch a new product just because it’s a good business case, will the ultimate judge — the consumer — give us credit for making their lives better, more fulfilling? I once overheard a videographer say, “A film is only as good as the reasons for making it.” I think the same should apply to our business. In short, you can’t afford to not spend on innovation, even if it won’t move the needle in the short-term. The question we have to ask ourselves is: Where will we be when we recover from this economic pitfall? Hopefully, with products we can all be proud of. | ABOUT ANDY FORD Andy Ford is wave master of CultureWaves, a means of anticipating consumer trends by tracking current behavior 24/7 via a proprietary “virtual landscape.” Ford stays plugged into the heart of the trends by monitoring their exploration and experimentation. He then translates this in-the-trenches experience for clients, helping them understand the purchase and consumption behavior of their target audiences A few brands for which he has translated waves include Doritos, Taco Bell and Auntie Anne’s. Ford is a trained observer of the effect that lifestyle choices, demographics, media bombardment, education and experiences have upon the world’s diverse population. His job is to fit in with — and infiltrate — a variety of groups, giving him a unique perspective on social and brand interaction. Ford also is chief insights officer for Noble Communications, an advertising and marketing agency based in Springfield, Mo. In addition, he publishes the Internet blog Brain Blenders and the wave master’s blog on the CultureWaves website. Ford can be reached at
info@culturewav.es |
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