Archive for the ‘ Economics ’ Category

Half of Americans Barely Use New Technology

Very interesting news from The Economist’s Luddites in Cyberspace:

49% of Americans are considered Luddites or Laggards

ie. people who are slow or reluctant to embrace new technology. This is from a comprehensive study from Pew Internet & American Life Project.

Only 8% of consumers are considered early-adopters

ie. people who embrace technology quickly. This is huge news for technology marketers, because most of us like to be on the leading edge of things, but when the leading edge is only 8%, it probably isn’t the best thing for our products. Yes, there is a trickle-down effect, but, I think no one suspected the number of Luddites and Laggards to be so high.  For example, how many people do you think have ever listened to a podcast?

13%

according to Podcasting News. So, as technology marketers, we have to remember to stop Marketing to ourselves, and start thinking more about our audience.

You’re Not Going to Remember the Tag on Your Shirt for the Rest of Your Life

Moneyutility I was talking to my friend tonight about making four-figure retail purchases today and both of us just can’t do it. Economic theory says that as you make more money, you will get less out of spending it. So, the idea is that when you are a broke student, the $29 shirt is a luxury but when you make more, you need to spend more to get that same amount of joy. The next thing you know, says the theory, you are making 4-figure purchases.

But, my friend and I disagree. It’s true that "it is your money or your life"… I spend so much of my time at work, getting to-and-from work and building my skills to make sure I am relevant at work. If the only thing I got out of it at the end of the day was a fancy outfit (even worse if it is for work!) I would not be happy. I would prefer to give money to charity (imagine what they could do with microcredit with my $1000)… or at least spend it on an interest (building my wall of books, or music collection – supporting the artists that made them) or on a big trip.

Because, really, at the end of the day what am I going to remember? The entrepreneurs I contributed to in Bangladesh, the great literature I read, the one-month trip to Vietnam… or the tag I had on my shirt back in 2007?