It is very tempting to just jump into areas such as MySpace, Digg and other social media platforms without much planning. It is true that being early in the game helps, but it’s not just about being first. It’s also about being the first one in your vertical to really use new media and technology wisely. The problem with most of these new gadgets is that anyone can “jump in.” This quickly turns a great opportunity into a commodity because of the low barriers to entry.
The way out of this trap is using new media and technology to reinforce your existing competitive advantage. Just ask yourself, “why do people buy my stuff?” If the answer is speed than you should be looking at how to use new technology to reinforce your speed advantage. If the answer is I am close and convenient than maybe local search or mobile tech is your game. Whatever your competitive advantage is, make sure you consider this first when putting new technology into place.
Unless you are a new media company, new media and new technology should reinforce tyou competitive advantage. They won't create it.
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