Be Careful When Jumping Into New Tech Marketing 'Opportunities'

Looking at the history of online platforms is like a long list of places that once were up-and-comers, absolutely destined to be the future, that disappeared after a time. CompuServe, Friendster, MySpace — just a few that have either come and gone or are no longer particularly important in marketing and business discussions. Remember Google+? It had disappeared after eight years.

There have been social media, apps, websites, now the metaverse (whatever it actually is). And at any time, there are many decisions to make but limited time and resources. Will you choose Facebook? TikTok? Pinterest? Instagram?

“If you stop and think about, the iPhone came on and then suddenly everyone needed an app,” says Stephanie Cegielski, vice president of research at the International Council of Shopping Centers.

It’s a problem for retailers but also for any business, including across the entire space of commercial real estate. Tech changes so quickly that it can become next to impossible to implement it fast enough to catch a wave before it has crested and started toward dissolving.

“Everyone may want an app, but an app may not be right for them. In a year from now, maybe there’s a version of a phone without an app,” Cegielski says.

Not only is that a waste of resources, but there’s the question of whether a given platform has anything concrete to offer beyond hype and an audience. Because not all audiences are alike or useful.

“Does it become a vehicle to communicate openings and closings and situations, et cetera?” adds Cegielski. “I think of the years where every brand thought it had to be on Pinterest. I don’t understand why many brands would be on what I consider a crafting website. Not every platform is right for every brand, and I think it’s important for them to understand before going out and trying to engage because that would be expense.”

Even social media has a significant degree of specialization.

“People use social media for different purposes,” she says. “I don’t go to LinkedIn to hear about my cousin’s children. I use LinkedIn professionally. Facebook is where I go to hear about my cousin’s children. Instagram is a happier place with photos. Facebook is more commentary. It’s truly understanding each platform’s purpose, even though the owners of the platform want the purpose to be all encompassing.”

For any platform, there are some essential questions you have to be able to answer. Who is the audience? Are they the types of people who might be interested in your properties or those of your tenants? Even if they are, why do they use a particular online product or go to a certain site? Someone in the mood for fun, or to indulge a specialized interest, might not be receptive to completely different messages. And, always important, do you or will you get a return?

Fads can be interesting and maybe useful to a business or brand, but by their nature, they probably aren’t something to depend on in the long run.