Why is market "disruption" causing such an uproar in the marketing world? And more importantly, how should brands be responding to it?
Let's explore what "disruption" means in marketing.
Disruption refers to two major marketing trends: the rapid evolution of technology and the shifting consumer expectations that coincide with it; and the creative, game-changing ways that brands respond to those new demands.
Disruptive technologies (e.g. mobile, virtual reality, and the Internet of Things) are forcing brands out of their comfort zones. Companies of all sizes are now reinventing their business models to beat the odds in an increasingly competitive market. In taking advantage of emerging technology, those disruptive brands are outperforming competitors by offering better, faster, brand-new services to their market.
The Problem With Market Disruption
Disruption is now a constant. It speeds up every single day. Think of Moore's Law, which explains the exponential growth in technology and the decreasing relative costs. If your brand isn't keeping up with these changes, your customers will move on to a competitor that is.
What does that mean for brands? We're no longer waiting for brand disruption to happen... We're in the midst of it, and there's no time to wait.
Here are some ways that your brand can create a ruckus in an ever-changing market: