Hi everyone who is interested in reading about cool innovative ideas! This week’s blog will be about innovation diffusion. The innovation that has been on my mind for a while now is actually a website called Walbert.nl. I wanted to check this site out because it is set up by a couple of friends of mine. The basic idea is that it’s a online marketplace for study books. The idea has been around for ages I know but the funny twist about this idea is that the books are only for rent. The idea is very simple and sounds pretty good to me also. I don’t really need study books so I haven’t used the site yet but I get the feeling that a lot of other people do! You could say this website offers a service but in the end it’s the brand that catches the eye off course. It all began with a couple of guys asking al their first order contacts and friends to put their used books online and since then second order and even totally new customers have joined. However the venture is still in one of her early stages so only for the risk takers and innovators (Rogers, 2003). It hasn’t reached the opinion leaders yet but as we know things can go very fast in the youngsters segment we only have to be patient.
This particular innovation would be interesting for companies that already do business in the same sector and they could expand by renting out books. Companies like Amazon, Ako and Libris. None of these companies have adopted this innovation yet and the reasons are unknown. It could be that the profit margins are too low or there isn’t any money to be made at all. For the big players it’s always the safest option to be a little reserved what it comes to innovation. And after all, it could very well be a bad idea altogether.
It would be kind of hard to scale the other online booksellers when it comes to innovation because their core business is not innovation orientated. The only innovation they know is going online on which we can agree is not in the innovation book anymore.
Thanks for reading and I hope you’ve enjoyed these past blogs!