Navigating the Technology Hype Cycle

The technology hype cycle is a well-known concept in the tech industry developed by Gartner. It refers to the various stages that a new technology goes through, starting with the initial buzz and excitement, followed by a period of disillusionment as the technology fails to live up to its initial hype, and eventually culminating in a mature understanding of the technology's capabilities and limitations.  Knowing that the success of launching a new product is not a straight line, understanding the hype cycle will help you position your product to the right audience at the right time.

For those of you that are new to the hype cycle, or could use a refresher, the phases are:

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Navigating the technology hype cycle can be challenging, especially for individuals or organizations looking to launch new technologies. When launching a new product, it's easy to get caught up in the hype and excitement of your own technology, only to be disappointed when it fails to deliver on its promises. It may mean you are selling and marketing your product to the wrong audience during its phase in the hype cycle.  

So, how can you navigate the technology hype cycle effectively? Here are a few tips:

1. Be aware of the hype cycle. Understanding the stages of the hype cycle can help you better manage your expectations and avoid getting caught up in the hype.
2. Don't make decisions based solely on hype. It's important to do your own research and due diligence before positioning your new technology. Look for independent analysts, experts and users who have experience with similar technology.
3. Don't be discouraged too quickly. Just because a technology is experiencing a"trough of disillusionment" doesn't mean it has no value. It may simply be that the initial hype was overly optimistic, and your technology needs more time to mature and find its footing.
4. Look for real-world applications. A technology that has proven successful in real-world situations is more likely to be successful, so look for examples of similar technology being used effectively in industries or applications like you are targeting.
5. Be open to learning. Technologies that are new or unfamiliar can be challenging to position in the market, but it's important to stay open to learning and exploring new approaches. This may require investing time and resources in training or experimentation, but it can pay off in the long run.

Navigating the technology hype cycle can be challenging, but by following these tips, you can make informed decisions about when and how to position new technologies you bring to market. By being aware of the hype cycle, doing your own research, and being open to learning, you can avoid getting caught up in your own hype and make the most of selling and marketing new technologies as they launch.

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