Social Media to Drive Innovation

Last week I heard Guy Kawasaki speak at the JFSA Innovators' lunch. (Thanks to Raquel Hirsch of WiderFunnel for the kind invitation.) Hearing Guy on the Art of Innovation reminded me of a blog post I wrote last year after attending a talk by Michael Axelin, V.P. of Softlines Design and Product Development at Target (and fellow Oberlin alum). Both talks helped me refine my own thinking on how social media can support business innovation -- a key benefit of social media that is neglected in favor of a pure focus on marketing.

When I talk about social media innovation, I'm not talking about how you, your best friend and the geeky guy you sat next to in Stats 101 can create the next killer Web 2.0 start-up. (In fact, I think we've now reached the point where "killer Web 2.0 start-up" is an oxymoron.) What I'm interested in is how "normal" businesses -- businesses who existed before RSS was invented, and may well be around long after it's superceded by the next thing -- can use social media to fuel innovation. It could be innovation in the kinds of products you make, the kinds of services you deliver, or the way you do what you do.

We've seen social media support innovation on all of those fronts. Guy's framework, with additional insights from Michael, provides a great way of envisioning how social media can help you become a world-class innovator.

1. Make meaning. Do something that matters and adds value. If you're only trying to make money, you'll never be a true innovator.

How social media can help: Use your social media presence to have a conversation with your customers about something that matters and reflects well on your brand. This kind of reflecting glory marketing can make a real social or environmental impact, and in most cases is the best way to get people passionately engaged with your brand.

2. Make mantra. Stop worrying about your mission statement and find your mantra: the 3 or 4 words that summarize what you're about. This is a...