Chicken or Egg? Technology or Market?

by Admin on August 16, 2011

Which comes first, a technology or a market for that technology? Sometimes the market drives the innovation of a technology. Other times the discovery of a new technology will create new markets. A similar cause and effect can sometime be seen with you and your customers (clients).

An example would be the mobile real estate app that we have been using for our real estate clients. It has a map of your current location with little flags of all the homes for sale around you. You scroll over a flag and it tells you the address and price of the house. You click on the flag and the entire listing appears on your phone.

Let’s say you have Realtor A who provides this app to her clients and you have Realtor B who doesn’t. ¬†When you ask Realtor B why he doesn’t use this technology, he says because none of his clients use it. Could it be that he is missing all of those potential clients who are using it because they are going to Realtor A?

In this economy, where every customer is important, don’t drive potential customers to your competition just because you are reluctant to adopt new technology that you think your current customers aren’t using.


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