What is disruptive innovation?
Disruptive innovation is a term coined by Clayton Christensen back in 1995 that describes the way a new technology enters, disrupts and fundamentally changes a market. The concept has gained traction in recent years and describes common market patterns. As incumbents in various arenas focus on their core market and on creating and refining ever better technologies (and ones that their customers may not in fact need), they leave the market open to other newer companies that are able to swoop in and disrupt the market with business models that appeal to a different target market, include a different technology or have lower margins.
How SodaStream transformed soda
There are countless examples of fledgling companies, innovators and entrepreneurs who have swooped in and fundamentally changed existing markets. One great example is SodaStream who changed the beverage category. In an arena ruled by giants like Coca-Cola and Pepsi, creating a new soft drink and gaining market share is extremely challenging. Among other things, this is connecting to the bottling factories, which are either owned by or in partnership deals with the incumbents. On the other hand, building an entire bottling plant from scratch is an incredibly expensive capital expenditure, which has the risk of never yielding good returns. To solve this problem, SodaStream essentially eliminated the need for bottles by allowing you to create the soda you want yourself, in your own home. This has fundamentally changed the way we purchase and consume soft drinks.
In 2016 in particular, much of the disruptive innovation that has taken place has been in the digital realm. New digital technologies are not just disrupting tech giants, they are also radically transforming traditional arenas of business such as agriculture, health care, manufacturing and even government. Of course, not all of this is restricted to online innovations. In many instances, radical disruption of existing industries occurs in the nexus of the digital world with the world of hardware, or in other words, the Internet of Things. But in some cases, the digital world is learning to reinvent some of the constants and behaviors that we have come to take for granted.
Voice is disrupting industries
Voice technologies are transforming digital worlds by giving us voice assistants, voice-activated driving and now voice based comments and reviews platforms. One of the more traditional and unchanging aspects of websites and e-stores has long been the comments and reviews sections. This is something that was integrated into web platforms years ago, but it is only in recent years that the importance of user-generated content as a marketing channel has been fully understood. And it is now that new technologies are rethinking the way reviews and comments are created and the very platforms that support them. With comments and reviews, the focus has long been on text-based user testimonials and ideas, but all this is finally shifting towards voice.
Heyoya is a game-changing comments and reviews platform that brings voice to e-publishers and e-stores, improving sales and user engagement by allowing readers to express themselves beyond the medium of text. Heyoya’s new Receiver plan allows for quick and easy below-the-fold monetization. Heyoya is a game changer for websites and is proven to increase brand affinity and the quality of user-generated content.
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