Facebook Live Losing Steam?
There’s a lot of disillusionment when it comes to new technology. Without the proper data one might view a new social platform as a magic bullet. It’s could also be just as simple to give up on working trends when there are moments of negative press.
The Gartner Hype Cycle was created to track new technology as it goes from it’s inception to it’s rise and then ultimately a steadier pace after it tapers out. The first Point is “the technology trigger”. It’s usually in this stage marketers and business people believe they can become rich. It’s essentially a technological gold rush.
The next few stages consider the shift from “Peak of Inflated Expectations” (where reality starts to kick in and consumers begin examining the product) to “Trough of Disillusionment,” (there could be moments of negative press and a lull in consumer enthusiasm) ultimately rising up a “Slope of Enlightenment” (the stage where many users consider the practicality of the service) and maturing to a “Plateau of Productivity” (a brand new holistic enthusiasm of the uses of the product).
Knowing the Garter Cycle helps us remember the long term and think about substance over generated hype.
Applying this cycle to marketing tactics can be a useful tool as the higher knowledge of this model can help leverage new trends that present themselves.
With Facebook Live (and live streaming in general) it definitely feels like we’re in the “Innovation Trigger” easing into the peak of inflation expectations. During this time we find celebrity endorsements and other new ways to market products using live interactive media. However, we also find incidents of piracy (the case with the meerkat and twitch streams used in the Floyd Mayweather Boxing match) and other legal issues concerning the use of the product.
After the kinks are worked out and the live streaming market continues to evolve and transform, keeping the “Slope of Enlightenment” in mind is the wisest perspective to consider Facebook Live. By looking beyond the hype to the potential of how the product may be used, massive opportunity presents itself to innovate and help make the product stronger.
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