There are many reasons why your Online Business may be in hype. The eCommerce industry is expanding rapidly, with the Global eCommerce market set to hit PS3.2 trillion by 2021. With this growth comes changes – voice search, mobile commerce, and drone delivery, to name a few. Creating hype is not easy. Here are some tips that can help you create and maintain a buzz around your product or service.
Early adoption is the best way to maximize the benefits of an innovation, but if you wait too long, you may find that your competitors have already embraced it and have started reaping the benefits. There are benefits to waiting until the innovation is in a mature stage, though. This way, costs and risks are minimized and it is better prepared for mass adoption.
One way to generate hype around your online business is to hold contests. Contests can be fun and exciting, and you can give away products to your customers. Just make sure that your prize is attractive enough. Creating a contest can be as simple as asking for an email address and a photo or story, or as complex as a trivia question. Often times, you can even request people to share your contest on social media to get more exposure.
Identifying the hype cycle is important because it will help you decide where your innovation fits. By determining where your innovation fits in the Hype Cycle, you can better plan your next steps in your business. A technology, method, or service must disrupt the status quo in order to become a hit.