It pays to be first

In this video, Gary Vaynerchuk makes a compelling case for being a first-mover with new technology — it’s often possible to achieve exponential returns in the early days of any new platform.

I’ve experienced this repeatedly throughout my career. When I ran a digital advertising agency, quick adoption of platforms such as Google AdWords provided exceptional opportunities initially, and then became more expensive and less effective as time went on. Same thing for Google Plus, LinkedIn publishing and countless other networks.

Experimenting with new technology can be very profitable as you capitalize on these windows of opportunity — but my purpose isn’t to expound on Periscope/Meerkat/Snapchat/Apple Watch.

It’s to share how to grow with guest intelligence, and from that perspective, a critical mass of users is always needed to gain statistically significant results.

That’s why I am a huge proponent of multi-channel listening so you don’t need to deliberate over which new technologies matter. Listen to everything everywhere and look at insights from the aggregated data without wasting time trying to decide if a new channel is “worth it.”