In tech, reliability comes earlier than innovation

Tech’s relentless give attention to innovation is a spinoff of how aggressive the surroundings is for consumer engagement. In a world the place customers have endlessly increasing choices for his or her mindshare, media corporations face unending strain to innovate and differentiate themselves with new experiences to make their merchandise and options as sticky as attainable. 

Within the chase for the press launch, nevertheless, corporations can typically mistakenly skip steps earlier than they grasp the fundamentals.  

In my expertise driving digital innovation at Comcast, AT&T, and Endeavor Streaming, specializing in mastering the fundamentals of your present core providing can return a lot increased worth to your prospects and enterprise than chasing the latest bells and whistles. Generally, probably the most revolutionary factor you are able to do for a enterprise is to focus on the onerous operational work that in any other case goes ignored or delayed.

Whereas it won’t be as newsworthy, homing in on being the gold commonplace at your foundational worth proposition can have a profound impression on the trajectory of your online business and thus, your continued relevance along with your prospects. It might additionally earn you the suitable to innovate in additional significant methods as your online business scales and permits for more experimentation with analysis and growth.

What constitutes dependable tech?

Dependable know-how is just like the air we breathe. We take it without any consideration till we don’t have it — and after we don’t, it’s a disaster.  

In my world of video streaming experiences, reliability signifies that customers don’t waste their invaluable free time making an attempt to determine the way to entry their favourite leisure. They need to take without any consideration that they will watch no matter they need on their most well-liked machine at any time, whatever the advanced engineering challenges concerned in delivering high-quality stay streams at world scale. To the patron, reliability means the product works shortly and is delivered at an distinctive degree of high quality. 

Is there a ‘resting level’ in terms of your know-how’s efficacy? The regulation of diminishing returns applies to any know-how. Including yet one more “.9” to your service reliability quantity can come at an awesome monetary value, however does your buyer actually care in regards to the distinction between a millisecond and a microsecond of downtime or latency? 

For those who’re a high-frequency dealer, the reply is sure, and that funding is well justified. With most shopper merchandise, nevertheless, customers are seemingly unable to inform the distinction. So with any know-how, it’s about discovering the technical tolerance that means that you can serve prospects at a top quality and worth they discover worth in.  

Whatever the metric you utilize to measure the reliability of an current product, ask the questions: What increment of enhancement will increase the worth perceived by the tip person? And the way does that translate again to enterprise worth for the corporate?

The dangers of being overly future-focused

There are limitless methods to pursue innovation, however just a few will show to be actually invaluable to customers at significant scale. Corporations which might be too future-focused face a number of attainable dangers. 

The primary threat is incurring alternative value from fixing the fallacious downside. You may spend quite a lot of time chasing down a brand new characteristic or market alternative as an early mover, however that point may be wasted on one thing with minimal return. Possibly that very same effort and time could be higher spent driving an incremental 5% enchancment on a confirmed core characteristic that customers will really feel in each interplay along with your product. Engineering and product cycles are invaluable and, in lots of organizations, scarce. Leverage them thoughtfully when taking dangers to ensure they’re calculated.  

A second threat is misunderstanding your customers and their wants. Merchandise just like the Segway, 3D TV, and lots of others had a daring imaginative and prescient of the longer term however have been too far of a leap from what individuals wanted and needed of their day-to-day lives. In depth person testing and brutal honesty about what your knowledge reveals about your product is the one finest approach to shield in opposition to chasing one thing that appears transformative on paper however could also be a dud in follow.

There’s a time and place for innovation, however method with warning

None of that is to say we must always ignore innovation altogether. However to pursue it intelligently, you want an in-depth understanding of your core worth proposition and your prospects’ evolving behaviors.  

Corporations with dependable options are nearly at all times disrupted by applied sciences which might be objectively worse after they first hit the market. Nobody working at a newsroom within the 90s thought that the dial-up modem was going to seriously change their trade. Generally we underestimate how a single innovation can disrupt a whole market.

We’ve seen a number of of those seminal shifts in digital media. Journal publishers weren’t solely notoriously late to the sport in embracing the rise of the web, but in addition had a tough time acknowledging the shift in shopper curiosity and web site visitors away from on-line text-based content material and in direction of brief kind video. 

Most just lately, know-how has had a big impression in driving the rise of direct-to-consumer streaming and the corresponding decline in conventional linear bundled leisure experiences. Media corporations that clung too closely to their conventional linear mannequin with out acknowledging the info concerning the huge shift in direction of streaming bought a late begin. These corporations are actually enjoying catch up in a extremely aggressive marketplace for their share of shopper pockets and mindshare.  

There are occasions when it is sensible to leap in on the dialog of what’s subsequent — however ahead innovation should be rooted in shifting shopper conduct because it aligns along with your know-how’s core worth proposition. Consider dependable know-how because the groundwork enabling your group to innovate in additional strategic methods because it scales.   

The underside line

The problem will at all times lie in placing a steadiness between reliability and innovation. For any firm to achieve success, whether or not it’s a technology-driven firm or not, it’s necessary to have a transparent understanding of what your core worth proposition is. Having a robust grasp on who your buyer is and what worth you actually ship to them is vital for each enterprise. It needs to be your north star. 

If — and provided that — it occurs that your core property are able to fixing a number of issues, and the timing is true, you possibly can lengthen out into new choices. However the platform mentality ought to at all times be to enhance general baseline somewhat than chase hole one-off bulletins.

A headline may final every week within the information cycle, however dependable know-how will give your online business the foundational endurance to have lasting energy in the long term.   

Chris White is SVP and chief product officer of Endeavor Streaming