For our most recent blog on PokemonGo, click here Zoos put £80000 on their top line with PokemonGo
The staggering success of PokemonGo has shocked the business world. By the end of the game’s first weekend in the US, the game had been downloaded an estimated 7.5 million times. Two days later, it was 15 million (see Daily Telegraph), 5 days ago, there were 65 million US users. A free download, but monetised with in-app purchases, the game has been innovative in that gamers now play in both the real world and the virtual world.
There has been much vaunted about Virtual Reality (VR), with Samsung one of the key drivers of new tech such as the VR goggles (See Samsung/VR) but this is different - players play in the real world through an app on their phone. Of course there are some unintended consequences, the Pokemon in the US Holocaust Museum (See the Times of Israel) and a young girl who crossed the street without looking (eyewitness news) but that's too be expected amongst a user population of over 100 million users.
Innovation is a critical part of business; a company that doesn't stay one step ahead is going to miss out on the value of the innovation. A company that doesn't innovate therefore, definitely should be reacting. A bigger question though, and maybe a practical solution for business owners is to ask, where is my business in the short term, the medium term, and the long term. As well as focusing on the short term (because we know the answers and can fix stuff) let's ask ourselves what does medium and long term look like?
We carry out research into a number of areas; Electronics, Transport and Food. We do this so that we can position our service well within those sectors. We start with researching the supply chain - what are the big players doing - what are the new entrants doing? We look at the processes and see how effective they are, and we look at the political and technological advances in order to see whats happening. It's an ongoing process, and we're building our library on it. We might not see the detail of the next Pokemon Go, but we can certainly see the spaces that are being created and the opportunities they bring. Give it a go, and see how it can help influence your business.