Innovation within a business is good for business. It’s a survival skill, and it’s critical externally as well. From an organizational standpoint, innovation is inspirational. If ingrained in the corporate culture and not a mere buzzword, innovation can inspire teamwork, raise morale and job satisfaction, and spawn ideas for winning products and services.
Companies that embrace innovation internally are often more attractive to those on the outside - as in making themselves desirable partners. Innovation is contagious and doing business with innovative organizations exposes your own company to the fresh and novel. The benefits of such exposure can positively impact a business well beyond the scope of the partnership. On the flipside, negative results can occur from joining forces with a company that only has the veneer of being innovative.
“The term innovative is often used as a differentiator, but not every company can back up their claims,” says Kate Renwick-Espinosa, president of VSP® Vision Care. “VSP’s roots are grounded in innovation. We were founded 65 years ago by a group of optometrists with a vision to provide access to affordable, high-quality eye care to the world. We were the first company to introduce the vision insurance plan, and since then we have continued to develop new products and services to best meet the needs of our clients and members, while staying true to our founders’ vision.”
VSP can point to a host of innovations it has developed over the years, both with products and services. Some of VSP’s innovations include SunSync Elite, a revolutionary light-reactive lens that changes from dark to clear in seconds and VSP EasyOptions, a vision plan that takes the guesswork out of enrollment by allowing every family member to select their own covered upgrade when they’re at the doctor's office. VSP EasyOptions is a marketplace exclusive - the first and only benefits customization feature in the industry.
VSP also works with a variety of companies that use cutting edge technology to improve the way they deliver care through VSP network doctors. An example is a partnership with Livongo®, an applied health company that uses clinical coaching and robust analytics to help people with chronic conditions achieve better outcomes.
Most corporate marketers understand there is something of a disconnect between companies claiming to be innovative with those that are actively driving innovation.
A 2019 Innovation Survey finds that 91 percent of marketers are currently leading or involved in driving organization-wide innovation and are allocating a significant portion of their overall budget to include innovation as part of their marketing strategy.
And while they are committed to maintaining the integrity of the “I-word,” others might be guilty of lessening its meaning by promoting the latest and greatest as innovative when it’s really just “creative.”
With so many companies claiming to be innovative, it’s important to have a portfolio of proof. This is critical whether you’re on the inside or as an outsider seeking a partner that truly is a beacon of innovation.
Want to learn more about how innovative vision benefits can advantage your company? Visit VSP today.