Pile On Motivation

Join 21K other subscribers

Tag: Idea Diffusion Curve

  • Are you a MARKETEER, yet NOT AWARE of the IDEA DIFFUSION CURVE?This is where you START ..

    Gordon Moore’s idea diffusion curve is a very important lesson to keep in mind for marketers.Knowing this helps to position a product and target to specific groups of customers.

    There are 4 categories of people talked about here –

    1. Innovators – These are the ones who always like experimenting with new products and take the maximum risk when it comes to trying out a new product.
    2. Early Adopters – These like innovators come a little late in the game but are very open to try out new products and experiment a lot.

    Once innovators and early adopters like a product they like spreading the idea virus to the rest of the following groups which may be their friends , followers , family etc.

    3. Early and late majority – These are the ones who buy a product only when the word has spread about the benefits of the product. They are risk averse and listen to the advise of the 1st two groups and buy a product. But they form the mass market share.

    4. Laggards – These are people who buy a new product only when the old product is no longer is use in that age. For example these are the ones who started buying smartphones when they realized key pad phones were going out of the market.

  • How the Idea Diffusion curve can serve as a radar to customer loyalty

    The Idea Diffusion curve highlights the Innovators and early adopters as the ones who are not risk averse when it comes to trying out NEW products

    These are ones who love experimenting and whose word of mouth truly matters

    Thus a company who creates a new product should first try to impress and attract these two segments.These people by virtue of being subject matter experts spread word of mouth and in turn create loyal customers associated with a brand

    All iconic companies have one eye on this curve to serve as a guiding star for customer loyalty

    Adopted from Simon Sinek’s Start With Why

  • What has the “Idea Diffusion Curve” to do with “Customer Loyalty”?

    The Idea Diffusion Curve popularized by Everett Rogers is a bell curve with the following characteristics:

    1. First 2-3% towards the left consists of “Innovators“
    2. Next 14% consists of “Early Adopters“
    3. Next 34% consists of “Early Majority“
    4. Next 34% consists of “Late Majority“
    5. Finally the 16% consists of “Laggards“

    Innovators and Early Adopters are those who are willing to experiment with new products.These are people who are regarded as experts in their respective industry and their “word of mouth” leads to convincing the “early majority” as well as the “late majority”.

    The “late majority” & “laggards” are highly rational people who think a lot before experimenting with a product.

    So in order for a company’s product to become revolutionary they should always target the “innovators” , “early adopters” who are loyal towards a product and are honest enough to spread the “word of mouth” to the masses.

    The right side of the curve consisting of “late majority” & “laggards” are never loyal and shift based on situation and needs.

    Thus the “Idea Diffusion Curve” gives a fair enough idea with respect to influencing “Customer Loyalty”

    Adopted from Simon Sinek’s book Start With Why

  • Influencing “Early Adopters” need of the hour for the modern day marketer

    Seth Godin’s wonderful work related to “All Marketers Are Liars” , “Purple Cow” and their relationship with “Gordon Moore’s idea diffusion” curve . highlights the need of modern day marketers to influence “Early Adopters” to ensure customer stickiness.

    Though the “early and late majority” form a chunk of the market share , only when the early adopter is convinced of the quality & remarkability of a product , they will sneeze and spread the idea virus to their friends , family etc. who are part of the early and late majority and fully depend on their decisions on the innovators and early adopters.

     

  • Idea Diffusion Curve For a Marketer – What is it?

    Gordon Moore’s idea diffusion curve is a very important lesson to keep in mind for marketers.Knowing this helps to position a product and target to specific groups of customers.

    There are 4 categories of people talked about here –

    1. Innovators – These are the ones who always like experimenting with new products and take the maximum risk when it comes to trying out a new product.
    2. Early Adopters – These like innovators come a little late in the game but are very open to try out new products and experiment a lot.

    Once innovators and early adopters like a product they like spreading the idea virus to the rest of the following groups which may be their friends , followers , family etc.

    1. Early and late majority – These are the ones who buy a product only when the word has spread about the benefits of the product. They are risk averse and listen to the advise of the 1st two groups and buy a product. But they form the mass market share.
    2. Laggards – These are people who buy a new product only when the old product is no longer is use in that age. For example these are the ones who started buying smartphones when they realized key pad phones were going out of the market.