Technology Adoption – How Technology Markets Evolve

When you are trying to sell an innovative technology, it is important that you understand how people integrate technological innovation into their lives because it is the source of energy driving mahow-to-buy-marketing-technologyrket growth.

Established markets resist change. In 1900 a lot of people owned horses and buggies. Most technological innovations require people to change their behavior to embrace the benefits of the applied technology. Markets don’t grow until people believe the potential benefits of the new technology outweigh the risks and effort of change.

The more “discontinuous” an innovation, the longer it takes the market to adopt it. Discontinuous innovations are new ideas, products, services, etc. that require us to change our current behavior to something very new and different – the automobile, telephone or personal computer. By contrast, continuous innovation doesn’t require a change of behavior, because it is merely a better way of doing what we are already doing – the automatic gearshift, the cell phone or the next generation of word processing programs. A new technology representing a discontinuous innovation is one that has the greatest potential to create wealth. It is also the hardest kind of innovation to sell because it means you have to convince people to dramatically change their behavior.

The laws of physics teach us that it takes a lot of energy to overcome inertia. Human inertia is what keeps people from adopting your new technology. It takes a lot of energy to get people to change their behavior. So if you want to sell into an early market, you must find and use market energy.

S-curve Adoption Theory

The S-curve adoption model helps you figure out who will adopt when, so you can focus your sales efforts and harness the energy created by market evolution. It also helps you find new opportunities and approach prospects before your competition does.

S-curve adoption theory has three principles:
1. Traditionally, innovations move very slowly into niche markets, then mushroom into the mainstream. Early markets often develop slowly – the more “discontinuous” the innovation, the harder it is for people to figure out how to apply it. The car was around for 30 years before you saw very many on the road.

2. It typically takes the same amount of time for a product to reach 10% acceptance as it does to reach 90% acceptance. Widespread market adoption often happens very quickly. In the fourteen years between 1914 and 1928, household adoption of the automobile grew from 10% to 90%.

3. Once a new technology reaches 50% market penetration, it starts to noticeably impact the economy and productivity. Propelled by the incredible productivity of the assembly-line revolution pioneered by Henry Ford in 1914 and by installment financing offered by General Motors in 1920, the wide-scale adoption of the automobile fueled the booming economy of the Roaring Twenties.

Since technology markets tend to consolidate as they grow, early market share is very important to the long-term viability of your solution and your company. As technologies mature, the market tends to weed out many of the smaller players in favor of one or two major alternatives. This helps the market to standardize on one approach, which makes using the technology much easier. Once the market has chosen a market leader – Microsoft Office, Cisco Routers, Apple iPhones – it is almost impossible to unseat them. The benefits of market leadership are longer product lifecycles, repeat business and economies of scale, all of which serves to reinforce their market dominance over time.

Janice Lawrence has advised leading edge technology companies for the past two decades on how to sell innovative technology. Follow her Sell Results Blog [http://blog.sellresults.com/] and supercharge your technology sales success.

Technology Marketing Strategies

“We all sell the same thing… there’s no difference between what one company offers compared to another.” Those are the words a manager of a large, but struggling technology solution provider revealed to me.

Here’s why that view is a problem…

When you see yourself as marketing essentially the same technology products and services your competitors sell, you immediately become a “victim” to brutal price competition. You are reduced to a commodity where the company with the lowest price wins.

Winning the lowest price war is the least profitable way to build a business. Lowest price attracts the most disloyal group of buyers in any market. I call them “the cheapskates”.

Second, your competitors can easily cut your legs out from under you, by beating your price. ‘Winning’ comes down to who’s willing to earn less. Even maybe taking a loss.

That’s why communicating a competitive advantage that makes you the only logical choice is critical.

If you can’t see and articulate a clear competitive advantage, how much less will your potential client see a reason to choose you over someone else?

There is a smart technology marketing solution to fierce competitive markets. Cutting your managed service contract rates isn’t the way to go. There are more profitable ways to win the lion’s share of the market without dropping your price. How? Well, here are just a few ideas:

For starters, become a celebrity within your industry. Become the high-price leader who only deals with a certain caliber of clients.

Differentiate your company by the way you market services to clients.

In every industry there are marketing strategies that are accepted as “the right way” to build a business. Unfortunately when you do what everyone else is doing, you sound and look like everyone else. You become a commodity.

Instead of becoming an ‘also ran’, borrow strategies from other industries.

Using marketing techniques uncommon to your technology industry instantly makes you distinct. You sound unique because no one else sounds like you. And if anyone tries to copy you, they instantly sound like a copy cat. A “me too” loser.

This is an easier process when you have a list to work from. If you need some ideas, go to my list of articles at http://www.andrebell.com/articles/ and grab the report of 101 ways to market your company.

Besides differentiating yourself by selecting from over 100 different marketing strategies you can:

– position yourself as first in some category or accomplishment or activity

– be contrarian in your marketing approach or service

– set yourself apart by being exclusive in the type of client you will accept or the types of services you deliver

Another step is to take a non-traditional approach to marketing. Traditional marketing involves paying more and more money in ads or worse, cold calling people who don’t want to hear from you.

A non-traditional marketing approach focuses on what you’re already doing (or should be doing) and making it more responsive and more predictable without sounding like everyone else.

This is critical because in today’s global marketplace differentiating yourself in the mind of clients and potential clients is the key to a company’s survival. Failure to differentiate is the number one reason I believe companies struggle unnecessarily.

It’s the reason clients fail to see you as anything other than a commodity.


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How a Recruitment Consultant Can Benefit the IT and Technology Market

Recruitment agencies that specialize in the technology and IT market are an ideal choice for any individual wanting to find work in these rapidly growing and competitive sectors. Employers looking for the right candidate also have a good reason to find help from an recruitment agency. Recruitment consultants and agencies now offer a wealth of benefits to the client and the candidate. Clients can benefit from gaining access to a database of potential new staff members while those individuals looking for work will benefit from one to one advice sessions with dedicated recruitment consultants.

Once an employer signs up with a recruitment agency they will be able to gain access to a large database of potential employees. Employers in the IT and technology market can rest in the knowledge that a well respected specialist employment agency will carefully screen anyone who is considered for employment. All in all employers can expect the following benefits;

You will be assigned a highly experienced recruitment consultant who will help you to find the right candidate.
A recruitment consultant will be able to gain a better understanding of the needs of a specific client.
Particular aspects of the kind of service that a recruitment agency will offer can include;
A thorough advertising campaign on a wide range of job boards as well as print advertising in newspapers.
An in-house database search of potential candidates who will have gone through an assessment process.

Employment agencies also have plenty on offer for the candidate too. There are thousands of graduates who are looking for work in the IT and technology sector who find it difficult to locate their ideal employment position. One of the reasons for this is that many jobs in the technology and IT sectors are not commonly advertised. A recruitment agency can help a graduate to find their ideal job as they usually have a large range of vacancies on offer. Employment agencies have the following additional benefits for candidates looking for the right job;

To help you find a job in IT and technology that is a match to your level of skill a recruitment consultant will be assigned to help you develop a CV that reflects your level of experience.
You won’t be put forward for a position that is unsuitable.
You will also go through interview procedures which could make all the difference when it comes to the real interview.

Assured Recruitment Solutions are specialist recruitment consultants for the sales, technology, retail and finance sectors within the UK. With vast experience in placing senior appointments and acting as consultants for the UK’s largest private organisations Assured is leading the way in offering more bespoke and integrated recruitment processes.

Green Technology Marketing and the Triple Bottom Line

Social and environmental issues play a greater role in consumer and B2B choices than ever before. The “Green” movement was on the fringes of mainstream culture just a few years ago. Today, global warming, eco-sensitivity, fair trade and sustainability are issues that can have a tremendous impact on businesses of all sizes. A relatively new marketing model — the triple bottom line — offers businesses of all sizes an opportunity to create sustainable businesses that benefit people, the plan and corporate profits.

While the traditional marketing model’s success is typically judged by increased revenue, there is a new approach adopted by companies who want to become sustainable businesses. The triple bottom line – economic, social and environmental – creates a framework for marketers to use their knowledge of customer attitudes about sustainability and environmental issues to inform and influence a company’s external communications and executive-level decision-making. As communicators within an organization, technology marketers play a lead role in the triple bottom line process, acting as the touch point between the business and its customers.

What Is the Triple Bottom Line?

The triple bottom line refers to an accounting model in which environmental and social considerations are measured along with financial performance. The concept shifts corporate responsibility from shareholders’ profits to stakeholders’ interests. In other words, the triple bottom line focuses on anyone who is affected by an organizations decisions, rather than focusing on investors.

Because it includes social, economic and environmental considerations, the triple bottom line’s goal is sustainability. Socially, a triple bottom line organization is characterized by fair business practices that benefit many stakeholders while exploiting none. Economically, the “profits” from the triple bottom line, including clean air, improved safety, clean water, etc., are shared by the society, as well as internal corporate profits that keep the business running. Environmentally, a triple bottom line organization works to reduce its carbon footprint and be responsible for the entire life cycle of its products.

Pros and Cons of the Triple Bottom Line

In addition to the apparent ecological benefits of sustainable corporate practices, proponents of the triple bottom line cite the following arguments:

– Untapped market potential, such as eco-tourism, offer profitable business opportunities

– Providing sun ovens and wind-powered generators create triple bottom line opportunities

Many organizations agree that social and environmental concerns are very important, but they disagree with the ‘Triple Bottom Line’ as the way to improve these conditions for the following reasons:

– Business best serves society when it is engaged in its core competency (i.e. making widgets). The triple bottom line diverts business from its core competency.

– Wealthy nations are concerned with the social and environmental issues while the rest of the world is more concerned with starvation.

– Businesses should not be forced to be stewards of the environment.

Conclusion

While the green movement continues to gain momentum, many businesses have voluntarily adopted triple bottom line models for sustainability. As consumers and other stakeholders become more aware of the impact of an organization’s business practices on their daily lives, the demand for greater corporate responsibility will grow and more companies will adopt practices to support the triple bottom line