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As a premier Portland marketing company, we want to know: Are you using new technology to boost your marketing? If so, be sure to keep ahead of the hype if you want to surf the wave to success.
In something called the “Gartner Hype Cycle”, Gartner Research identifies an alarming trend in using emerging technologies (think new social platforms, app advertising and digital content marketing) in your marketing strategy. The trend? A steep success mountain (the “Peak of inflated expectations”) , followed by a dismal valley (the “Trough of disillusionment” … I’m sorry, but don’t both of these sound like locations from “The Princess Bride”?).
The good news is that the hype peak and valley is usually followed by a steady upward trend of moderate, consistent success.
The Hype Cycle follows the course of emerging technology, its hype and promises, and its accuracy.
Here is how Gartner breaks down the cycle:
Each Hype Cycle drills down into the five key phases of a technology’s life cycle.
Technology Trigger: A potential technology breakthrough kicks things off. Early proof-of-concept stories and media interest trigger significant publicity. Often no usable products exist and commercial viability is unproven.
Peak of Inflated Expectations: Early publicity produces a number of success stories — often accompanied by scores of failures. Some companies take action; many do not.
Trough of Disillusionment: Interest wanes as experiments and implementations fail to deliver. Producers of the technology shake out or fail. Investments continue only if the surviving providers improve their products to the satisfaction of early adopters.
Slope of Enlightenment: More instances of how the technology can benefit the enterprise start to crystallize and become more widely understood. Second- and third-generation products appear from technology providers. More enterprises fund pilots; conservative companies remain cautious.
Plateau of Productivity: Mainstream adoption starts to take off. Criteria for assessing provider viability are more clearly defined. The technology’s broad market applicability and relevance are clearly paying off.
In close order we are likely going to see some of the most colossal marketing failures of all time. The reason for this is that there are just so many emerging technologies geared towards various aspects of marketing (SEO, social media, email, content marketing, PPC, app advertising, mobile remarketing … the list is endless) that make grand promises.
But, we are also going to see some huge, unlikely, surprising marketing successes in the near future as well for those companies that understand the hype trend, how to allocate (or not allocate) funds and Companies will ride the wave to success with a strong, consistent marketing strategy made up of a clear focus that addresses the needs of a market, consistency, and a toolbox including solid, proven digital and offline marketing techniques.
Are you concerned? Don’t be. Just reach out and we will walk you through what we will do for you.