Identifying your first 100 customers and then generating business is the key to achieving the validation and traction any new venture needs. So, who are these magical early adopters? Opposite to popular belief, early adopters are not those who are most eager to test new products/innovations. Early adopters are desperate individuals. They struggle to find solutions to the issues your company is trying to solve, and it matters to them so much that they are willing to purchase or use your product before competitors.
It will be simpler for you to sell what you do if more customers need it. That’s all there is to it. Early adopters are crucial to a product’s success because they give businesses and other customers information on how the product will work in real-world situations. A new product thus serves as a symbiotic connection that solves the early adopter’s need and eliminates the feeling of experimentation surrounding a novelty. But sometimes early adopters buy for the fear of missing out. The best example is those who bought iPhone in 2007 on its launch for $600.
Looking to build your product? Searching your early adapters? Scared about the marketing budget?
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6 Examples of Early Adopters
1. Insiders
Innovation is a leap of technology, and its value is recognized by those developing it. Employees and those who work in a particular industry always serve as early adopters. For example, fashion influencers are the first to try new skincare products.
2. Lead Users
These are the users who have already been feeling the need for a better life. They are the ones we spoke about earlier. Lead users have already been using a product, say a laptop, and realized a severe need that was overlooked. They will buy new products with the feature they are looking for and hence are your early adopters.
3. Enthusiasts
Enthusiasts are people who are passionate about the service you are offering. They serve as early adopters because they love what you sell.
4. Loyal Customers
If you already have a business and are simply launching a new product, your loyal customers are your early adopters. They have a sense of loyalty towards your brand values and they trust what you have to offer.
5. Status Seekers
Consider a new luxury product being launched in the market, the status seekers see their own perceived value directly tied to the possession of this luxury good. These customers pride themselves on being at the forefront of others.
6. Open to change
These are the adventurous personas who love to try new things for the sake of it. They chase adrenaline rush by buying never seen product offers.
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Why do Early Adopters Purchase Products in the early stage?
1. Early adopters tend to be daring
Early adopters enjoy doing things that others find challenging or frightening. They avoid crowds out of fear of conformity, and their daring behavior shows in the purchases they make. They take the chance of purchasing a new product and offer feedback, which helps other customers decide whether they want to purchase.
2. They act naturally.
Early adopters have a hunch about whether a product will succeed or fail and whether it foreshadows the future. When a new product is released, Apple typically gives the long-lined early adopters a high priority.
3. They exhibit a fear of being left out (FOMO)
We all know that early adopters are typically young, intelligent, and well-versed individuals who have a large fan base and do not want to be the last people to learn about a product.
How to find YOUR early adopters?
Now that we know who early adopters are and why they buy new products, it’s time to learn how to find it.
1. List potential early adopters segments
Let’s begin by assuming that there are certain problems that your business idea will be able to address. A Lean Canvas might be a good place to start; find out more about creating one here. The main justification for considering extreme scenarios when coming up with early adopter segments is straightforward: these individuals will be most in need of what you are doing. The more in need they are, the worse the consequences of them failing a task due to the issues.
2. Customer Segments in Rank
To define a strategy, you’ll need to rank your customer segment list—possibly 50 of them—and determine which ones are the most effective. Similar to brainstorming, the ranking process is predicated on assumptions (things you know or think to be true). Based on the above-mentioned emotions to tap into and the type of people to consider select one that matches best with YOU.
3. Select the first 5 customer segments
Once ranked, you select the first type of customer who would pay for your services or products. It’s important because your entire pricing, packaging, and marketing strategy depend on them.
4. Strategize
Once you have recognized your targeted early adapter, find out how much they usually pay on new launches. Search where they hang out whether physical or digital and target them specifically. Be in their sight and just like that you have your early adopters.
5. Rewards the early adopters
Early adopters love rewards. Rewards make them feel important, deserving and celebrated. It gives a thrill of newness and harnesses almost all the emotions that we have associated with early adopters.
Looking to build your product? Searching your early adapters? Scared about the marketing budget?
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