Innovation doesn’t just happen. It unfolds, often outside of formal settings, sparked by people with enthusiasm, a bold vision, and a willingness to weave technology into every step, whether in fledgling startups or well-rooted organizations.
Today marks my consecutive participation in the Innovation Investment Fund, held in the significant space of the Pyramid of Tirana. The 6th edition clearly and loudly highlights an urgent message: technology investment is crucial to surpass the expectations of investors, entrepreneurs, and customers alike.
With more than two decades in the advertising and marketing worlds, my focus has always been on developing potent communication strategies, especially relating to the key transformation of digitization. It’s a shift that could challenge the widely accepted belief that 70% of startups falter due to diverse challenges like employee and customer resistance, cultural inertia, and a general reluctance to change and adopt new technologies.
For a startup to flourish, two elements are paramount: clear communication and a solid brand with a defined purpose.
Transparent Communication: Open, honest, and consistent communication, internally and externally, facilitates a healthy organizational culture and ensures authentic brand messaging to the outside world.
Robust Brand and Purpose: A strong brand, supported by a clear and compelling purpose, guides the company in navigating the complex and competitive market landscapes while aligning internal operations.
Achieving tangible ROI in today’s business environment calls for:
- Identifying and nurturing innovative potential.
- Progressing from traditional to more dynamic, modern strategies.
- Employing modern tech tools to enhance communication.
- Promoting innovative thinking among team members.
- Supporting the intersection of sustainability and technological evolution.
- Navigating confidently through the waves of the latest technological developments.
While 15% of startups report noticeable growth and ROI, another 15%, although utilizing digitalization, still wrestle to maximize their full benefits and leverage their potential effectively. These businesses, while not yet familiar with failure, indeed have a demanding journey ahead. A robust start is half the victory, making it crucial for startups not only to have a deep understanding of technology and its impacts but also a steadfast will and a benevolent desire for lasting sustainability.
Vatra is a leading agency in design, branding, and digital performance marketing that passionately connects brands with 55 million consumers in the Balkans for more than 20 years.
Gerton Bejo
Founder CEO of Vatra Agency
Tirana / Pristina / Skopje / Belgrade