Last week I focused on the General Adopters and their place on the Adopter Pyramid.
This week, I will focus on the third level of the pyramid — #4 – The Latent Adopter.
A few years ago I walked into a video rental store and stopped cold. I did a very slow 360° turn and realized that, yes, indeed, I must finally go out a buy a DVD player because the walls were now lined with DVDs only.
This is a perfect example of a Latent Adopter. They adopt your idea long after it has become the standard. Latent Adopters are a mixed bag. If businesses are your customers, Latent Adopters can be slow-moving companies, start-ups with tiny budgets, or new, under-funded divisions of companies. In the case of consumers, they can be those who hate change, have less to spend, or buy only when forced to.
Latent Adopters – the PLUS: they are the largest market on the pyramid and when they buy, they buy in volume; — the MINUS: you have to stay in business long enough for this market adopter to catch up. If you’re a typical entrepreneur, then there’s a fairly good chance that you will no longer even be with the company at that point (which leads me to this suggestion: make sure there are provisions in your contract to cover yourself for this influx of money).
Chart and content from my book, Lies Startups Tell Themselves to Avoid Marketing
www.holtzmancom.com/thought_book_title.php
Sandra Holtzman teaches CEO 035: Licensing.
wow..this helps a lot you even created a chart to be easily understood…thank you