In marketing a product of service, most companies market to the masses. They think a 10% conversion is acceptable. I am hear to tell you that they are wrong.
Let me tell you about the “Law of Innovation of Diffusion”
- 2.5% are innovators
- 13.5% are early majority
- 13.5% are late majority
- 16% are laggers
We all sit in various places at various times on this model.
- Innovators are the people that want to be first and try something new. These are the people that stand on line for 6 hours to get an iPhone.
- The early majority are people that will try something new after someone else does.
- The late majority are people that are skeptical and traditional.
- The laggers are people that fear change and will do everything they can to keep consistency. These are the people with tape decks and VCRs.
Most TV ads and marketing is targeted toward the early majority and late majority because they are the biggest group. But if you want mass market success, you can’t have it until you reach the tipping point in the model, which is 15-18%. This consists of the innovators and early majority. The key to success is starting with the innovators and then the early majority.
What are your thoughts about how to get a mass market success?
