Entrepreneurs, early adopters are your best bet

by Ashvini on January 11, 2012 · 6 comments

in Business

Creating a product and selling it to the market place is becoming more difficult because of  huge competition. The differentiating factor really has to make it worthwhile for people to buy any product.

In a product life cycle, after innovation has happened, the next stage is early adoption. Early adoption is vital to a product because the way it reaches masses later on is often when early adopters talk about it.

Early adopters  pay a higher amount than those who adopt the product later when it becomes a mass market product. Early adopters are usually excited by the technology and new features that come up with a product. Early adopters also help spread the word about the product to their friends and family which in turn brings in more people than ever.

Early adopters are best bet that an entrepreneur who is just launching his product.

Business and entrepreneurs normally spend a lot of time in advertising and building the buzz that they suppose will bring in more people to their doorstep.

However in my opinion, the reward is much higher when early adopters are targeted. Here is why ?

  1. Early adopters are usually very vocal about what they like in a product:
    Even though you may get a brick image but most of the time,it will get the intended result(provided the product is really good and offers something new)
  2. Early adopters communicate and justify their choices :
    Early adopters like to justify their purchase because they took the risk by spending their money on a new product. They often sound convincing about their ideas .
  3. Early adopters are excited by new technologies:
    Companies may often bring a product on a limited scale and pitch it to early adopters.Early adopters are often excited about newer technologies.
  4. Early adopters if satisfied well, become the most loyal customer base:
    While the late adopters have many choices , it is the early adopters who are more loyal to the brand.
  5. Early adopters make impulse decision:
    Early adopters have more money to spend and often quick to make decisions. Early adopters seek out the product at retail stores. They are the one’s who continuously keep coming back to check on the status of new product launch.
  6. Early adopters are ready to buy product at higher prices:
    Once the product becomes mainstream and popular, it gets competition from other vendors with similar products. Early adopters usually pay a higher price for the product before it becomes common to market place
  7. Early adopters provide opportunities to tweak the products:
    Early adopters often provide the feedback on the products and if there are any glitches in the system,will let you know. You may correct them before the product is sent to mass market

What do you think about this technique of marketing your products ?

About The Author

{ 6 comments }

Aswani January 14, 2012 at 9:38 pm

Nice article Ashvini. I agree early adopters are vital for businesses which have a desire to grow like anything. While reading your article, I could relate the same with our very Aakash Tablet, the much hyped technological breakthrough in India. Aakash has been hugely marketed here in India and no doubt, it is trying fast to catch up with some of the leading brands though still a long way to go. Aakash’s success mostly relies on its early adopters. The initial reviews have been mixed and I am sure the product will get better and better with time. I feel it is all about early adopters..as you have said in those points. Thanks for sharing this very useful writeup..!

Ashvini Kumar Saxena January 16, 2012 at 5:39 pm

Hey Aswani,

Glad that you liked my article on early adopters. They often get ignored when companies look at the mass market. I am of the opinion, every brand has them but not every brand know how to utilize them . The idea is to get them excited about the product and technology, add some cool features and see them buying the product in hordes.
Akash has got a lot of attention but probably because of its low price. If it needs to keep the momentum going it will have to do something different otherwise seeing the demand it could see a lot of competition soon
Thanks for your comment bro :)

karan January 12, 2012 at 8:52 pm

i guess if you have a great product you can sell it no matter how much competition is there. Word of mouth is the key here. If you create a not so good product it doesnt matter how much you advertise or talk about it people will eventually bring it down. And if you create a useful product it will advertise itself through people who use it…

Ashvini Kumar Saxena January 16, 2012 at 5:43 pm

Hi Karan,

Thanks for your comment and welcome to my blog.
I feel that being a great product is a prerequisite but many companies do not get the right product in first shot. When they target the early adopters, they have sufficient time to correct things before it gets to mass market.
Early adopters often take a lot of risk when they purchase product that might not even work well.
However if companies take early adopters for granted , I am sure there will be rapid discontentment and it will bring the products down much faster.

Bryce Christiansen January 11, 2012 at 11:12 pm

Yes, don’t neglect the early adopters. We just did a beta launch of a new product, and despite the kinks, our early adopters have given us a wealth of support and positive recommendations we can share as we go live to the general public.

That’s something that is incredibly rewarding and useful for growing our services.

Bryce

Ashvini Kumar Saxena January 12, 2012 at 7:32 pm

Hi Bryce,
Thank you for providing evidence to my thought. I always wondered why companies could never look beyond the mass market and to the people who care about their products. Early adopters are the most significant customers and they are routinely ignored.
I wish they are more conscious of early adopters and utilize them to promote their products.

Have a great day :)

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