Innovation Sounds Great (Until You Have to Pay For It); And Yet Another Sign That the Post-PC Era is Upon Us

Innovation is on Everyone’s Mind (Sort of):

Despite the growing importance of innovation, line extensions continue to take precedence over product development, according to a recent study by Accenture.

The study, which took the pulse of 519 executives at large U.S., UK and French organizations with revenues exceeding $100 million, reveals that there are two major obstacles standing in the way of bolstering revenue returns from innovation: companies being too conservative and the so-called “invention trap” (or lack of infrastructure to bring a new product to market efficiently).

Here are some other stats from the survey:

• 70% of respondents say that innovation is among their top priorities, with 18% saying it is the top priority.

• 52% of respondents from the communications sector consider innovation “extremely important.”

• 51% of respondents report an increase in funding for new products and services, versus 10% who scaled back.

• 60% of respondents state their company has a chief innovation officer, up 6% from 2009.

• Only 18% of respondents believe their innovation strategy is “delivering a competitive advantage,” despite 93% indicating long-term success is dependent upon innovation.

Source: Accenture

No Longer Exotic, Tablets Go Mainstream:

Tablets and mobile devices, of course, rate as one of the biggest innovations in the last decade.

According to recent NPD Group and IDC studies, there are upwards of 32 million Web-accessible tablets in the hands of consumers right now, while shipments of tablets were projected to grow by 142% in the first quarter of this year.

Below are some other nugs from the studies:

• 93% of U.S. households are now connected to the Internet.

• Smartphones are now in the hands of 57% of cell phone users, up 5% compared with 2012.

• 53% of Internet households now own tablets, up 18% compared with 2012. PRN

Sources: IDC, NPD Group

Most effective communication channels for information about social and environmental programs and products

Traditional channels continue to reign supreme when it comes to reaching consumers about your CSR initiatives, according to the 2013 Cone Communications/Echo Global Study. On-pack (24%), in the media (18%) and advertising (15%) were deemed the most effective conduits for CSR communications, the study said.





This article appeared in the June 3 issue of PR News. Subscribe to PR News today to receive weekly comprehensive coverage of the most fundamental PR topics from visual storytelling to crisis management to media training.

Comments Off

Deals of the Week

$150 Off PR News' Social Media Summit

socialmedia201602-180x150Join PR News in Huntington Beach, CA on Feb. 26 for the Social Media Summit, where you'll be immersed in real-world, tactical case studies from brands, nonprofits and agencies and get takeaways in pulling and analyzing social media data; emerging social platforms and apps and so much more. 

Use code “150” at checkout to save $150 o the regular rate.

$50 off the CSR & Green PR Guidebook

csr_vol7_print_digital-thumbPR News’ CSR & Green PR Guidebook, Vol. 7 captures best practices in communicating the positive relationships that organizations are building with their communities of interest. This six-chapter guidebook connects the dots between the effective communication of positive social contributions and corresponding improvements in bottom lines.

Use code “50off” at checkout.

Save $100 on a PR News Subscription



Let PR News become your weekly, go-to resource for the latest PR trends, case studies and tip sheets. Topics covered include visual storytelling, social media, measurement, crisis management and media relations.

Use code “SUBDEAL” at checkout.

Comments are closed.