Product Adoption describes the process of users becoming aware of a product, understanding its value, and beginning to use it
Why should you care?
Well, if you’re a startup or existing business you may want to influence your target audience to purchase your product/services.
Who doesn’t want to make more money?
In today’s world, society is evolving rapidly, and people are engaging with businesses and brands in new ways. Successful companies spend countless hours and thousands of dollars on driving data from the market to make informed decisions.
It’s all about strategizing, narrowing in on your market niche, and executing to generate results.
If you haven’t reflected in some time about your brand or business and researched the competition in your market – it’s time you start now!
The experience of re-learning your business, market, and industry will surface opportunities to understand your target audience better and which approach to utilize to turn them into paying customers.
Here are the 5 Product Adoption Stages:
- First thing you want to understand is how your potential customers can become aware of your product or service.
Teaching Customers can be helpful: Prospects may not be aware of the existence or importance of a certain problem. On the other hand, customers may realize the problem but don’t know the solution. Educating customers about either the problem or the solution can help provide a strong awareness.
The key is to be consistent so that you can strengthen your image in the eyes of your audience with every encounter.
2. Stage 2: Inclined Interest triggers customers to get attracted to the product or service and have more information about it.
Follow the steps of your customers instantaneously and make sure you have strong customer support. Try having articles in circulation about the values and benefits of your product and services. Sending segmented emails will increase product adoption at this stage as well.
3. Stage 3: Evaluation – customers determine whether a product is worth trying or not.
Help your prospects evaluate your product objectively. Make them see the aspects that differentiate it from alternatives to it. What makes your product better than the competition?
4. Stage 4 Trial (Samples & Trials)
Users try your product/service to see how efficient the product/service is for compensating customers’ needs. It can be either the first purchase or a free trial period.
Give free trials and a money-back guarantee to ensure your product is worth employing.
Stage 5: Adoption / Rejection (Buy or not Buy Stage):
Prospects determine if your product or service has the value and decide to adopt it or not. In the last stage of the new product adoption process, customers proceed from a cognitive state (being aware and informed) to an emotional state (liking and preference) and finally to the behavioral or conative state (deciding and purchasing).
An Example of the New Product Adoption Process from Real Life:
Let’s assume that you are walking home from a long day:
- You saw a billboard that says a new local burger place named BestBurgers has opened. (Awareness)
- When you went home, you looked for some information on the web to know more about Best Burger’s menu and prices. (Interest)
- You considered whether you want to try it or not. (Evaluation)
- You said what the hell and tried a burger (just to be safe). (Trial)
- It arrived quickly and was the best burger so you’ve concluded that Best Burgers is your new go-to burger joint. (Adoption)
Looking back at your business, by evaluating your companies market, competition, and target audience using the product adoption process you may surface new techniques and strategies to create more awareness, get more leads, and close more deals!
The more you know your customers, the more you can speak their language. Let’s discover together! TechNerds.com/appointment