Stop building useless product
People here don’t like good things. Nobody wants my product. It’s jealousy. The population sucks. These are complaints that we probably get here from entrepreneurs after the launch of their products or services.
The problem may simply be that your product is useless and lame.
Every time we create a business, we have to focus on the benefit of the target who will use it. And be very clear about the value proposition. It’s time to stop creating flavoured hot water.
And one important thing is to educate the target. How can a business thrive when customers don’t understand the value, let alone how to use it? As entrepreneurs. It’s our duty either to educate our targets or to sell our product to an educated target.
Product Adoption Life Cycle
The life cycle of technology adoption has a bell curve and the divisions of the curve are roughly equivalent where the standard deviations would fall.
This means that innovators represent about 2.5% of the total population, early adopters about 13.5%, early majority and late majority 34%, and late adopters the remaining 16%.
Each group represents a unique psychographic profile (i.e., a combination of psychological and demographic traits) that makes their marketing responses different from those of the other groups. By understanding the differences between these groups, entrepreneurs or marketers are better able to target all of these consumers with the right marketing techniques.
We cannot assume that people will understand that health, for example, is important and a basic necessity. They may know it, but we still have to sell the product to them. This is where reality defies logic.
Customers need to understand what we are offering and how it will benefit them, and only then will they think about buying.
