Bucking the Trends for 2008 and Every Other Year
A lot of web inches are being devoted by commentators from hallowed publications on tipping the next best thing for 2008. Many of these articles spend time postulating on how the coming year will be different from the last. On how we should stand back wait for the spanking New Year to deliver on all of our technological wants and needs. Kind of like those 1950’s ‘Tomorrow’s World’-style programmes that predicted we’d all have Jetson cars and be living in house pods on the Mars by now. The truth be told, the rising stars of 2008 will be solving well-defined problems in smart ways that you and I implicitly know about, but hadn’t yet recognised. A lot of names being bandied about will be lost by the end of this year, but what won’t be lost are two important ingredients for success.
Quality is Key
Why do I say this? Well, at first glance, red hot technology is all about adoption. The clincher is, however, user retention rates. Some commentators say that’s it’s all about the audience. However, this is just too simplistic. Look beyond the obvious. Audience attraction is a big deal, but it’s the stickiness of the audience that matters. Audience loyalty hinges on how consumers perceive product quality. It’s the quality of experience that lingers with consumers. You and I won’t use a product or service until we both recognise it’s solving a problem we already have. We won’t continue to use that same offering unless it delivers on its promise, again and again.
Users drop payola in the revenue can by clocking up eye miles for ad-funded channels or through direct subscription. Perceived value for effort and quality of experience is vital. It breeds word of mouth, causing a product to market itself virally.
Tuning into the Youth Zeitgeist
Look at the mammoth that is Facebook, it started in Harvard and its popularity exploded, with over a million registered users in less than year. Looking at the black and white economics of the situation, targeting younger users is where companies should be sitting. No other generation is more tuned into the how-tos of technology naturally. No other demographic has so much disposable income free of adult fiduciary responsibilities like teens. No mortgages, no car loan (for the most part). Yes, they may not directly subscribe to your service but look at your real customers, the advertiser. Meebo has successfully built their business on this model. It’s the perfect ground for seeding revenue and users for consumer offerings.