Technology is Moving Faster and Faster
Sometimes, I run into marketers who think that we are just going through a turbulent period but that it will calm down again. Wrong. This is the new normal. You will be constantly surprised at the new things that show up–and they will show up faster and faster.
How do I know?
It’s simple. But it depends on you understanding a concept that might seem straight out of left field: Every two years, the number of transistors that can feasibly be placed on an integrated circuit doubles.
Well, you can run right out and apply that practical knowledge now, right? No?
Yeah, let me explain. That concept is known in the tech industry as Moore’s law, because it was coined by Gordon Moore, the president of Intel back in 1965. What it has meant in practice is that chip performance doubles every 18 months and its price drops by half.
Still not feeling it?
That means that if you have a piece of technology that costs $500 today, that same technology would cost about $40 in three years. $10 in less than five years.
Now you are catching on, right? What we talk about today as Big Data will seem laughably puny in a few years. Exciting smartphones and other technologies will be boring. What we have now will cost pennies on the dollar and we will have new capabilities not even dreamt about today.
And none of this is a prediction. It is an extrapolation—a mere projection of what we have already seen for more than four decades. This is as sure to happen over the next few decades as the sun is to come up.
What all of this means is that marketing is changing in extreme ways, all the time. Sometimes, technology upends old businesses, such as print advertising. Sometimes it changes distribution models, such as over-the-air TV to cable to digital—tweaking the advertising model along the way. Sometimes it changes how marketers can reach their targets—it wasn’t long ago that a billboard was the best way to send a marketing message to someone walking down the street. Sometimes it creates whole new venues for marketers, such as social media. Sometimes it changes the way we keep score, such as how Big Data tells us which marketing tactics are working and which are not—with unimaginable detail and speed.
Don’t sit on the sidelines and expect that technology won’t affect you or your company. You are either changing your marketing to keep up—or you are being left in the dust.
Click NEXT to determine how not to be left behind!