Understanding Brand Preparation for Innovation Success: From Lab to Market
Getting ready for the market isn't just about having a great idea or a unique product. It's about making sure everything is set up so people actually want to buy and use what you're offering. Here's how you can prep your innovation for market readiness:
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From concept to market, each phase demands something different. Early on, you’ll want to nail down what makes your innovation special. During the tech development phase, validate your value. Make sure it's solving a real problem and not just a cool idea on paper. Think of this as laying a solid foundation before you even think about jumping to sales.
"I am not familiar with the go-to-market process"
If you are not familiar with the go-to-market process, do reach out so we can advise you on the branding, marketing & sales cycle, which will help you prepare the needful. By understanding the process, you can also phase out your funding need for each step of the way.
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A clear marketing strategy is essential. Once you've developed your tech and know who it’s for, your next step is getting early adopters on board. That’s your first big win. From there, look to the early majority – these are the folks who’ll confirm your innovation has mass appeal. Your end goal is the tech diffusion phase, where your product is ready for the masses.
"We are still early stage of the research or technology development, do we need a marketing strategy?"
Communicating your research and technology innovation begins as early as publishing your academic journal and pitching for that prototyping or seed fund. The marketing strategy will differ at each phase. The budget you need will also differ.
"If I am just licensing, do I still need a brand?"
Yes, even if you’re just licensing your tech, a brand matters. It’s how people understand and connect with you. Start with a strong brand image and message. This will serve you well in the long term. For researchers, you should look into your personal branding especially if you’re rolling out more innovations down the line.
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Get into the minds of your target audience. What keeps them awake at night? What are their gains? Tailor your value proposition to meet these needs, rather than overwhelming them with features and benefits that don’t speak to their concerns. Make it relatable.
"I went ahead to build the prototype because I know this is what they need"
Your chances of innovation adoption get better when you can align your value proposition with the customer segment's hot buttons. We've helped our clients with seeking validation so they can ensure that the value proposition matches.
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Make sure you’ve got your brand tools ready – logo, a robust website, and relevant social media accounts. Think of these as your conduits to potential customers. Be clear on what paths you want users to take to turn interest into action. Consider using AI tools to speed up this process, giving you one less thing to worry about.
"I'm not a designer and I don't know what to write :("
Based on your customer segments and the conversion path of those segments, you need to list down the brand assets required. Explore AI tools that can help you generate the visuals and copywriting you need. Nowadays there are many that you can use to generate brochures, whitepapers, videos and responses. Also know when to get more technical and when to get more commercial.
Every step you take now ensures that you’re not just dreaming about success – you’re gearing up to achieve it. Your preparedness today is the loyal customer base of tomorrow. Invest in building these connections, and watch your innovation thrive.
Stay bold and always keep learning.
Since 2011, Brand Geeks Inc has nurtured science and tech brands, using our TurbochargeMyBrand framework to elevate over 300 brands across industries. We offer comprehensive services from training to analytics, powered by data-driven AI. Our impact spans from MyTeksi (now Grab) to Smart Selangor. Now, with Turbocharge All'Spark, we're expanding beyond marketing to ignite wider digital transformation. Innovators & Technology Transfer Offices and Industry can explore how we're supporting both the demand and supply side of innovation with adoption - https://brandgeeksinc.com/tc-allspark/
The Ministry of Science, Technology and Innovation (MOSTI) Turbocharge All'Spark 2024: Market Readiness Bootcamp bootcamp was part of the follow-through from MOSTI's Malaysia Commercialization Year (MCY) 2024. We’ve been MOSTI's MCY's Market Readiness partner supporting the ecosystem with our TurbochargeMyBrand & PhD study-backed Market Readiness Level (MRL) frameworks. Check out the recap videos of the bootcamp:
CEO and Co-Founder of FAVORIOT | An IOT Evangelist | Keynote Speaker | IOT Thought Leader.
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