Today is the much-anticipated annual Google I/O conference, where the company unveils new technologies, products and in a sense, forecasts the way technology will be used by businesses and consumers. Techies love this event, because it offers a glimpse of the newest technology and where the industry may be headed. But how do you, as a business, decide what technology to adopt and what new marketing tools to use?
It’s tempting to join the throngs and use the latest and greatest tools, but it isn’t always wise to do so right away, or even at all. Not all technologies are suited to all businesses, and not every market will respond to every new marketing tool.
Choose the Right Technologies
If you are considering using a new technology at your business, consider two factors: your business and your market. You already have a sense of what tools are conducive to your business and goals. If the new tool won’t help you meet your goals, or won’t make your job easier, it’s safe to say you are better off passing.
Also keep in mind what kinds of technologies your target market is most likely to respond to. If your podcasts are a powerful tool for your business, advances in podcast technology may be smart technologies for you to use. On the other hand, if your blog is more influential, you may not need to jump on the latest podcast-technology advances.
Where is Your Market Going?
Another important thing to consider is where your market is. If members of your target market are adopting a new social media network, your business might be wise to do the same. If your potential customers are using a tool you aren’t, you may be failing to use a channel of communication that could help increase your sales.
However, keep in mind that the only way you can answer this question when it comes to new technology is to wait and watch your market. The day a new piece of technology is released may not be the ideal time to make a decision on whether or not your company should use it. Instead, you may want to wait to see if your market, or even competitors, adopt it before you make a decision.
Are you Falling Behind?
One clear sign that it may be time to consider using a new technology is if your business is falling behind. If others in your industry, your competitors, your partners or your market have all began using a new technology, it may be time for you to start using it too. Businesses that can’t, or don’t, keep up with technology risk appearing dated and even incompetent. Most businesses benefit from a reputation of being up to date and agile enough to adopt new technology when needed.
Choose the Right Time
There are both benefits and risks to being an early adopter. Early adopters can find themselves ahead of the curve and on the cutting-edge of the newest technology, but they can also find themselves in tough spot. If you adopt a technology too early, before you have evaluated whether it will benefit your business, you could waste money and time and even throw your entire marketing campaign off track.
It’s extremely important to determine whether an investment in a new piece of technology will be worth it before you take the leap. Part of this decision-making process should involve evaluating when you should implement a new technology — whether you decide to be an early adopter or to wait to see how a market reacts to the technology.
New technology is appearing every day. Advances in social media networks, smartphone capabilities, and new technological tools can change your business’ digital marketing efforts. Knowing whether or not you should use new tools, and when you should implement new technology, can help you make wise marketing decisions that will help your business.