Pro’s and Con’s of Targeting Early Adopters

Below is a rough transcription of the latest BRX Pro Tip Podcast from the owners of Business RadioX ®

Stone Payton: [00:00:00] And we are back with BRX Pro Tips. Lee Kantor and Stone Payton here with you today. Lee, let’s talk a little bit about the pros and the cons of targeting early adopters.

Lee Kantor: [00:00:11] Yeah. A lot of startups and new businesses rely on early adopters. These are people who take more risk earlier without kind of a fully fleshed-out idea, will take more of a flyer on things. I know you’re that way. I know I’m that way. The pros of targeting the group that takes a risk on a new product or service are that they will take action fast. If they see it, they like it, bam, they can make a decision pretty quickly because they’re always looking out for that cool new thing. And so, that’s very attractive. So, you think, “Wow, this is easy. I just tell them this thing and bam,” but it’s just that out of all the consumers out there, not a lot of them are early adopters. It’s just a small percentage.

Lee Kantor: [00:00:53] One of the cons of targeting early adopters is that that’s one of the cons, there’s not a lot out there, but another con is they’re always looking for the next new thing. So, your thing is going to lose favor pretty quickly if it’s not delivering results pretty fast. So, they’re going to move on. And at some point, you’re going to have to tailor your offer to more mature companies in order to scale.

Lee Kantor: [00:01:18] So, in order to do that, you’re going to have to make sure those early adopters that you’ve targeted and have got as clients are successful and can create that social proof you’re going to need to attract the people that aren’t early adopters but will kind of follow the lead of early adopters. So, target them, that’s fine. Just understand that they’re going to move on pretty quickly. And make sure that when you are serving them, that you capture some social proof, case studies, testimonials that you’ll be able to leverage to go after people that are not as kind of inclined to take risks.

Originally published at https://businessradiox.com on August 17, 2020. To learn how you can have a successful retirement — making more of an impact while making more money, please download our free e-book at ServetoWinBook.com

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