Law of diffusion of innovation or Adoption theory
The law of diffusion of innovation
Suggests that it takes time and energy to get a new idea into mainstream
So which type are you and what is the aim for your product, service or idea.
Innovators are first to everything. Likely to be under 25 and generally have enough disposable income to splash without worrying about your mistakes. You like to show your new stuff to your friends and infact you probably use it as a ‘Badge of honour’ to show what a trendsetter you are – you are definitely a zealot within your group and often someone who is sort out for your analysis or advice by the other groups. Things can be cast aside just as quickly as they are acquired, you may have a draw full of ‘tat and obsolete technology’. Late adopters and Laggards just ‘don’t get you’ – but you don’t care!
Early adopters [13½%]
Where you lead others follow, like the innovators, you have the money to make the choices but are less frivolous than the Innovators. However, like innovators you are likely to be younger in age and attitude. Discretion separates you from innovators – you want to be among the first to adopt “good or useful stuff” but not at any cost. You have become quite astute at sifting out the winners from the fads.
Early majority [34%]
Aware of trends, but not a slave to them. You can be an early adopter but are also happy to stand back and watch the world develop, you quietly assess the benefit that this product, idea or service will bring to your life without feeling the necessity to buy in immediately. You are not driven by a need to fit in.
Late Majority [34%]
You wait until you notice the trends all around you and can see evidence of the benefit they bring. You are therefore constantly fashionably late on the scene picking up when the idea, product or service is mainstream and the kinks have been ironed out. You are more sceptical about new stuff and will not waste time effort and cash on a whim.
They hold onto the old ways until the product, service or idea is no longer available – they may even be checking ways to get the stuff fixed, reconditioned or from an auction site. They tend to be older and have a ‘things were better in the old days’ mentality. They could be scared of any change or just doggedly determined not to be troubled by these new-fangled ideas –“if it aint broke why fix it!”
The truth is that everyone is a mixture of the different areas dependent upon the issue. You could be a laggard on fuel economy in your car and an innovator in social media. We flit backwards and forwards across the curve depending on our personal interests
It takes time and energy to get a new idea into mainstream – you need to reach a tipping point of 15% and 18% market penetration before you can get mass market acceptance for your product, service or idea. What is your market penetration? If it is less than 15% then until you make it more than 18% the Early adopters and Late majority won’t take the risk.
For more information on how this affects you and your business look at this [11 mins in] – also read the books
‘Crossing the Chasm’ by Geoffry Moore
‘Start with Why’ by Simon Sinek
And remember… There is always MoreThan1Answer…