Hype is a term that describes the excitement people feel about something, like an event, song, movie or character. Typically, it means that something is exceptionally cool or awesome. It may also refer to a product, like a car or an athlete.
When it comes to marketing, hype can be a useful tool for generating sales and growth in your business. It’s a multi-pronged approach that allows you to increase your brand’s awareness and exposure without having to spend a lot of time and money on traditional marketing strategies and campaign messaging.
A good example of hype is Supreme, a clothing brand that began selling basic T-shirts with unlicensed photos on them and is now a $2.1 billion company that has 12 stores worldwide. The company’s success is based on the fact that it capitalized on a phenomenon known as “conspicuous consumption” — young people are willing to pay a premium for things that make them look and feel cool.
In the case of a new technology, hype is an important consideration for businesses because it helps them understand where that technology should be in its development cycle and whether or not it will be a viable investment. The Gartner Hype Cycle is a helpful framework that can help businesses determine how to best invest in emerging technologies.
The Gartner Hype Cycle is based on the concept that every technology goes through a series of stages in its development process. These stages include Technology Trigger, Peak of Inflated Expectations, Trough of Disillusionment and Slope of Enlightenment.
Once a technology has reached the peak of the Hype Cycle, it is likely not as reliable or effective as people originally thought and therefore, will require more research before investing in it. On the other hand, technology that has entered the Slope of Enlightenment stage is highly stable and scalable and will continue to provide valuable benefits over time.
There are many other factors that go into determining whether or not a technology is worth evaluating and investing in, including market trends, competition, customer feedback and scalability. Ultimately, businesses will have to decide how to invest in technology based on the needs of their business and how it can benefit their customers.
The term hype is most often used by teenagers and young adults who are excited about a product or event that they believe will make them feel cool. They can use the term in person, on social media and even in text messages similar to “fire.”
To build hype for a product, it’s important to have realistic facts and engaging content. It’s also important to work with the right partners who can help you deliver your message in an effective way.
For example, when a technology is just beginning to be popular, it’s common for companies to offer free trials or demos of the product. This gives potential users a chance to try the product before making a decision on whether or not it’s worth purchasing.