If there’s one thing modern society is preoccupied with worldwide, it’s technology. Smartphones and the apps we use every day are ubiquitous. Consumers need to be mindful of separating the substance from the hype.
Don’t fall for any gimmick that people call “disruptive.” Instead, let’s look at some examples of innovative disruption that really make a difference.
Lower Prices When It Counts
Some apps manage to save you significant money on major purchases. For example, Nobul – founded by disrupter Regan McGee – lets homebuyers enjoy perks from real estate agents competing for deal flow.
Instead of hoping to leverage a connection you may have to the real estate industry, anybody can use Nobul to connect with a real estate agent so eager for their business that they offer free additional services or cash back.
There’s probably no better time to save money than when buying a house, which is the largest purchase most people ever make.
Transparency
Consumers need essential information upfront before they make a purchase. Ideally, the info is verified and presented clearly. Too much data can be a burden, while biased data leads to distortion.
For example, Nobul doesn’t let real estate agents pay to get listed or ranked on their platform, so buyers know that the user reviews are reliable. Apps like Uber tell riders what the prices will be before they decide to accept the ride, unlike cabs, which have a meter tick up throughout the trip.
We live in a world where data is as valuable as energy to companies. If you’re building an app, ensure you leverage data in a way that appeals to users.
As a consumer, look for a platform that empowers you with data by pulling back curtains that used to be closed. Real estate data was considerably shrouded before real estate technology let buyers see all the relevant information.
Ultimately, transparency must work in the consumers’ favour. As McGee himself said, “people think buying and selling real estate is complicated, but that’s just a way for agents to justify their fees.”
Privacy and Security
An app can disrupt every industry and become the most popular one in the world. Still, all these gains could become undone overnight in the event of a privacy breach. Companies can’t keep up with their industry’s pace of change when dealing with a data breach’s financial, reputational, operational, and even legal fallout.
The last thing any company needs is lawsuits, angry customers, social media backlash, and the loss of trust that data violations bring. Make sure the fancy things you deliver for users never come at the expense of their privacy.
Technology has changed the world in multiple ways, and it feels like occasionally, new technology or an app changes it all again. Such exciting, lucrative technology also comes with its fair share of hype. Learn to see through the hype and value what matters because that’s what understanding innovative disruption is all about.