While you might be thinking that you need to stay on top of the latest industry trends, technology, and advancements, your customers aren’t thinking about those things at all. Certainly, you should stay abreast of trends and whatever else is new out there in your industry, but that doesn’t mean implementing things immediately.
On the whole, customers are looking for reliability, experience, and consistency. Trying out the latest and supposedly greatest new thing in your industry might give you something to brag about with other folks in your industry, that is until it fails, but your customers aren’t going to care. They aren’t even going to pay attention for the most part.
Unfortunately, the latest and greatest that your industry has to offer is typically not tested thoroughly. That means that is i more or less bound to fail. Failure is unacceptable when you are using something on your customers.
Your customers are not paying you to be experimented on. Certainly, there are some exceptions, and those customers who are looking to be experimented on have to understand what that means and what they are getting themselves into. However, your bread and butter customers, the ones who pay your bills, the ones that have been with you from the start, don’t care about experiments, they care about results.
There is an old adage: the first pioneers took most of the arrows, but the first settlers took most of the land. This is extremely true in business. Think about the dot com bust in the late 90s and early 00s. The internet was an untested front and while the likes of Amazon, eBay, and Google weathered that early spell, the sites that followed like Facebook and YouTube helped change the way that the internet is consumed. While some of the largest companies in the world emerged from the dot com bust, the vast majority of websites and companies are not remembered.
Staying aware and well read and informed about your industry is crucial, but implementing cutting edge or experimental practices can be costly to both you and your customers. Don’t get taken in by something shiny with lots of over-the-top promises, or even brand new tech. Remember, especially in terms of tech, the world is moving at a pretty fast pace, so by waiting and being patient, you stand to make much more money letting someone else take the arrows for you. You can always come in and take the land after.