Whether your concern is disruption or innovation, one thing is clear: technology is affecting, and will continue to modify businesses processes. Some of these changes you may see coming, others are the result of pure ingenuity, but there’s one thing all these modifications, innovations, disruptions have in common, and it is that the consumer is always looking for better solutions and more ways to satisfy their needs.
Sometimes is about something new, and sometimes is about something basic… something that was working before, and it’s now going back to its roots. Take for example, Viacom’s investment in Pluto TV, a technology platform that takes advantage of streaming, but takes back consumers to the times were television was “free”, with an “antenna” being replaced by your internet connection. Hulu and YouTube work on the “free” formula, and YouTube is even creating original content and opening the paywall.
Sometimes change comes from unexpected places, like the public demanding more transparency. Such was the case with the problem iPhones had with their batteries. Reading articles on the development of the iPhone battery stories, allow you to see how a company that is kind of obvious with its planned obsolescence strategy, has gone from a “no battery replacement policy, to an “even if you opened your phone and tried to repair the battery yourself, we’ll help you fix it” kind of policy. This also is an indication of things going back to basics, when repairing electronics was a thing… now fueled by a network of consumers interacting socially in real time.
Being in a business with a plan to remain in business is kind of the idea, right? So there’s no way to navigate through technology’s sea of change without paying attention to the demands of our customers. Being big enough might help you influencing legislation, it’s true, but if at the end your business is being sustained by laws that don’t make sense, or that are blocking progress, it’s about time you start paying attention.
I’m pretty sure, Apple and other technology firm’s executives are following the developments of “right-to-repair” law initiatives. Just as a coalition of internet giants are still advocating and fighting for Net Neutrality. They understand models that could affect the way they do business for good. So whatever is your industry, the idea is to “never stop paying attention” to the changes in your environment. By doing this, you may not only be able to identify threats, but more important, you will be able to identify new opportunities.
LAST BUT NOT LEAST
In a previous post titled, How media brands could be more in control of the user experience, I was exploring the way media companies should adjust to their audience’s need for interactions and being social while consuming content.
Right after finishing the post, I ran into an article of a new tool being introduced by Spotify that allows social listening, or friends DJing together, and right after that, I was invited to a Watch Party in Facebook, which is a tool that they launched back in 2018, and that I forgot to mention in my last writing.
Nevertheless, I wanted to take some time in this post to update my new “discoveries”, and to reinforce the point that we need to pay attention to trends, to identify where innovation and disruption may come from… and this too, seems to appeal to the concept of going back to basics, like when we used to sit down at the same time with friends and family to consume content, either watching or listening something together and exchanging our opinions.
Big media, OTT’s and streaming services need to react, and offer tools within their platforms to address this need. Not everyone will use the tool to interact with friends while consuming content but it’s better to be ready, and not fall of the wagon. There’s always room for a good Low end disruption memory refresher. Plan for obsolescence… Don’t let obsolescence plan your retirement.
STATUS: Be a leader in your industry and never stop paying attention to changes in your environment.