Marketing innovation is challenged by risk resistance (46%), inability to measure impact (41%), and talent shortages (41%)

Gartner Innovation Survey (2019)

Marketing innovation can be a powerful tool for businesses looking to stay ahead of the competition. However, several challenges can prevent companies from capitalising on this potential. Risk resistance is one of the most significant obstacles. Many businesses are hesitant to invest in new and untested marketing strategies. Additionally, the impact of marketing initiatives can be challenging to measure, making it difficult to justify the investment. Finally, talent shortages are also a significant challenge. As a result, businesses may not have the in-house expertise necessary to implement innovative marketing strategies. While we should not ignore these challenges, they should not prevent companies from pursuing marketing innovation. When done correctly, marketing innovation can help enterprises achieve a sustained competitive advantage.