Explaining the Gartner Hype Cycle
In a fast-paced environment, hype plays a huge role in technological innovation, and the potential that can come from it. We've seen the rise and falls of NFTs, machine learning and even regulating the Cloud. So with emerging technologies and innovations, how can we ensure product viability? The Gartner Hype Cycle visualises the perceived value of a new technology trend or innovation, assisting your understanding of the product life cycle.
As a marketer, understanding innovation lifecycles is the first step to getting insight into the opportunities and challenges that may arise.
Simone Blakers is the subject matter expert who facilitates Digital Marketing Certificate. This video is an excerpt from one of her lectures.
The 10-week course runs twice per semester and is available online through ADMA's IQ Learning Lab. It is a blend of on-demand lectures and tutorials that you unpack each week with Simone and during weekly tutorials which features some of Australia's top CMOs. Register now.
What is the Gartner Hype Cycle?
Video Transcript
Simone Blakers: So let's start by exploring Gartner's Hype Cycle for Digital Marketing in 2021. Now if you've never seen it before, the Gartner Model maps new technologies across a variety of niches using this innovation curve. It starts with what is triggering for that technology, and that creates a lot of hype - we see this in the industry news, we hear about it in conferences. And the application of the newfound technology peaks with inflated expectations.
Then comes the fall of reality as it slides into the trough of disillusionment. Many marketers have adopted it but are finding it's not really delivering on the promise that it's made to believe.
Then, we find it coming out of the trough and climbing the slope of enlightenment. This is when businesses are having success with it - the technologies are understood and the skills and capabilities can be found in the market. And it's effectively abled to be applied into a business setting. Finally it plateaus into the daily reality of our jobs as marketers.
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