In Focus

4 ways "shiny new toys" can be profitable

Playing with our new toys

Yes indeed, we love our new toys -- those shiny objects that dazzle, challenge, inspire, and invite us to play. Whether it is a new device, channel, technology, or platform, it is more than fun and games. At the last iMedia Brand Summit, I took my new iPad to the One Minute Match-Ups. For those of you who many not have experienced these rapid, one-minute delights, it is an opportunity to connect buyers and sellers in a concentrated time period. You basically have one minute to sit down with someone and make a meaningful connection. I used the iPad to engage discussion and showcase NetPlus case studies.

The writing of this article came as a result of that. The iMedia folks told me that everyone was talking about it, and they asked me to write an article based on that experience -- it created buzz.

Playing with our new toys -- whether it is the iPad, Foursquare, or any other new thing coming down the pike -- can lead to inspired ideas that translate into meaningful business success and impact. In small ways, such as the iMedia One Minute Match-Up example, or in bigger ways like Kraft's new iPad application.

Whether you personally love gadgets and new technologies or not, curiosity -- the impetus to play, figure things out, test, and attach that insight to marketing and business solutions -- is inherent in the most successful digital marketers and creative thinkers. There are many who poo-poo the "shiny new toy" and sometimes for good reason. Yet, there are some proven benefits to playing with new toys, so long as you are not blinded by the shine and can effectively engage the substance.

When or where might that a shiny new toy benefit your brand and efforts? Here are some selected observations and thoughts to consider. There are scores of others, below the line and above the line. I hope that if you are reading this and know of any, you will share in the comments section.

 

Comments

Andrew Holeman
Andrew Holeman August 17, 2010 at 4:13 PM

excellent piece re: engaging risk. I particularly appreciated the emphasis on managing risk by focusing on a savvy, balanced tactical mix.

The consumer and trade press value and associated Brand image impact alone can justify encouraging smart experimentation with "shiny new toys." Success in this arena requires a certain level of comfort with the possibility of quantitative failure and organizational responsiveness that must come from senior leadership.

We do our Brands and our staffs a great service by creating environments that cultivate a culture of early adoption and continuing education.