By Ryan Stenquist

GIGONOMICS

Jargon that will keep you going through the year

1. GIGONOMICS

The idea that the economy is running more and more off of gigs (short jobs) individuals do for one another rather than full-time, traditional jobs. As leading financial futurist Jason Schenker put it, in the future everyone may “run around doing errands for one another all day” through services like Uber, DoorDash, etc.

2. JOBS TO BE DONE

Coined by Clayton Christensen. The idea is that whenever a consumer purchases a product or service, they are actually purchasing a “job to be done.” For example, a consumer is not purchasing a newspaper, but the job of providing information and entertainment. Understanding why customers “hire” a product or service for a job to be done and what jobs need to be done makes business leaders keenly aware of their customers.

3. HYPERLOCAL MARKETING

This kind of marketing is only possible because of GPS and Wi-fi location tracking. Advertisers on Facebook can, for example, tighten their exposure to individuals located in a specific community of their choice.

4. BLEEDING-EDGE TECHNOLOGY

A step ahead of cutting-edge technology and two steps ahead of leading technology. This type of tech is so advanced, it may be dangerous or unpredictable to experiment with, thus the term “bleeding.”

5. FREEMIUM

A combination of free and premium. Freemium products are delivered to customers and then require some type of paid subscription, in-app purchase, or other additional payment to access all of the product’s features.

Notes:

https://www.techopedia.com/definition/23222/bleeding-edge https://www.investopedia.com/terms/f/freemium.asp https://hbr.org/2016/09/know-your-customers-jobs-to-be-done