Three CEO marketing leadership examples stood out to me recently. Ponder the meaning and implications from 3M, Wal-Mart and United Continental for your team and company.
Singles and Doubles Win Games Too
Sometimes the desire for the new product home run obscures the ability to win by stringing together lots of hits. From innovation superstar 3M, we’re reminded that a series of smaller, yet profitable new product introductions can also lead to company growth. Sure, there needs to be an understanding about benchmarks and hurdles. And, yes, the opportunity costs to execute against new product launches need to be carefully considered. If you can get the home run, great. If you can’t, don’t rule out the singles and doubles, though.
“3M is everywhere. That’s the point George Buckley, the chairman and CEO of 3M, is trying to make as he talks about his favorite subject, inventing things. Last year, he says, “even in the worst economic times in memory, we released over 1,000 new products.”
But 3M has never been about inventing the Next Big Thing. It’s about inventing hundreds and hundreds of Next Small Things, year after year.”
3M’s Innovation Revival – Fortune – September 24, 2010