No company wants to pass up a useful innovation. But given the current pace of technological change, how do you know that the next “revolutionary trend” isn’t just going to be a costly distraction? When deciding where and when to invest in technologies like artificial intelligence, virtual reality, and biometrics, consider whether the new technology does one of the following in a unique way:
- Eliminates customer pain. Know your customers’ biggest pain points, and assess whether the new technology alleviates them.
- Elevates customer service. Any new technology should materially improve customer service. Introducing something new should enable better delivery of the core components of your brand promise.
- Creates a differentiated, personalized customer experience. Does the technology create a purchase experience that’s unique to each customer?
Adapted from "How to Know Which Digital Trends Are Worth Chasing," by Robert Haslehurst, Chris Randall, Jon Weber, and Charlie Sullivan
