There are two forces on this category, which follow any major technology lifecycle: fragmentation and the potential for small players to seize opportunities missed by category players. As technology solutions proliferate, fragmentation is normal – many different operating systems and devices all require unique installation and force disparate user experiences. In this space, we are in a state of high fragmentation – Siri does some things, Nest does others and there are packages of intelligent devices like lighting and wall sockets on every end cap at The Home Depot. This presents an opportunity for brands to makes sense of the chaos. They can be the voice of reason – lead customers in their thinking about what they want where they live. A fully evolved solution isn’t necessary, but it is important to create an evolving brand that embraces the possibility of what’s next with real examples as to why your brand is the best voice to trust.
Netflix seized the opportunity Blockbuster missed. Uber has changed how people travel locally and Airbnb is putting hotels on notice. These are the most touted examples, but this phenomenon is true across categories. In yours, look out for the innovators, breaking the rules that you hold to be true, but are actually your path to obsolescence. Usually, Netflix is regarded as the killer of Blockbuster, but there were others who could have taken the path that Netflix claimed. Where was the rest of the entertainment industry? They didn’t see the problem that Netflix solved. The internet opens this up wide – your customers are constantly telling you what they need. How are you responding to them to solve their biggest problems? Those relationships, founded in this tech-driven reality, are there for the taking. How will your brand seize this opportunity?Back to Future Proof >>