Our world has leaped past small steps for tech kind to fully embrace digital advancements, from AI chatbots to customized experiences. With new technologies come new avenues for businesses to innovate and leverage their knowledge to explore various ways to reach their target audience.
This is a crucial aspect for technology businesses; the changing landscape of technology has made purchasing decisions more challenging than ever before. Some technologies are literal flashes in the pan, while others turn out to be true innovations that inspire greater scope and accomplishment.
But what’s tech hype and tech reality? What new innovations are actually changing the way IT professionals purchase solutions?
And does this change the way marketers sell solutions?
The Changing Perspectives of Tech Buying
It’s no secret that consumers have changed the way businesses approach selling and purchasing these days. What used to be considered niche markets for the consumer are now must-haves when in business – social media, cloud technology, mobile; consumers have shown that they expect businesses to be up on the current trends, especially those they use themselves.
As organizations look for ways to expand their goals and initiatives, line of business executives look to better their infrastructure, while tech marketers try to help business leaders narrow the path towards choosing the right trends.
In a video by TechTarget, two of their VPs looked at the big trends of the year - IoT, big data, hyperconvergence, robust security, cloud ERP, blockchain – and if they were hype or reality when it came to investment and implementation.
The Real Truth about Hype and Reality
So, what’s the truth?
The truth is there’s hype AND reality to the mentioned technologies. Let’s look at some of those discussed:
Internet of Things – the aspect of connected devices has been a trend for a few years now, but the technology has gotten more sophisticated, allowing for a broader range of connectivity, deeper security, and better performance.
IoT is one of those technologies that is both hype and a reality; the reality is more towards industries like manufacturing, government agencies, and insurance, where connected devices can allow for a bevy of information to pass between devices and interfaces. The hype is actually in the consumer market, where IoT is available but is slow to being adopted.
Big Data – the way consumers buy products has completely changed. The rise of the Internet has given them the ability to compare items online, even when in the store itself. Social media has also changed the way businesses interact with their customers.
This is where big data analytics comes into play, by helping to develop complete pictures of the buying audience. It’s a great way to better understand buying behaviors and personalizing the shopping experience.
For businesses who aren’t catering to the buying public, big data can be used to optimize their processes by predicting trends across multiple platforms, including social media.
Like IoT, big data has business areas that are investing in its use, while others – though interested – aren’t seeing a need for it in their organizations at the moment. Both distinctions are relevant here, though businesses still see big data as more hype than reality.
Security – since the very first virus hit computers in the early 1990s, security has been paramount for organizations. Hackers and cybercriminals are using more sophisticated means to access and steal data, causing businesses upwards of $3.1 million dollars every year for downtime and remediation. This isn’t even considering the string of big-name data breaches that have affected large corporations.
Securing businesses is very much a reality, with heavy investments towards purchasing or updating security systems and solutions.
What This Means for Technology Marketers?
Knowing the above trends – and whether they are currently hype or reality in the market – goes a long way in understanding what business leaders are looking for and looking at when it comes to technology and new innovations. Sometimes, business leaders will go for the hype, while IT leaders look to the reality; sometimes these two things intersect.
As a tech marketer, you need to be aware of these tech trends, both hype and reality, to better provide guidance and support to your audience. Our data and content teams at Change3 are constantly delving into research on tech and where that tech will lead businesses in the future, which results in finding the many ways to effectively reach your target audience.