Adoption cycle
Like everything in this life, there is a life cycle in people, a life cycle in products, etc. People who adapt to changes immediately, people who find it more difficult, etc. We can see that the market is very varied. The ideal case is to launch a product and have it quickly adapted and accepted by society, but this requires time, perseverance and sacrifice. That is why today we are going to talk to you about the adoption cycle that any product or service undergoes when it is launched to the market.
As we can see in the image there are 5 characteristic groups that will be explained below.
Innovators
The first ones we find in this adoption cycle are the innovators. They are those who are not afraid to try new products. They like to experiment, to explore, they are lovers of the new. They are people who are comfortable with the use of technology and want to make use of it. These represent a very small percentage.
Early adopters
These are those who dare to try any product, but as long as they have seen that it can be beneficial to their business. They are the ones who are willing to spend their resources on the new products if they are going to get something in return. As we can see in the picture, the percentage is gradually increasing.
Early majority
This is the largest mass. They are the users who adopt the new solutions when their real benefits have already been demonstrated solidly and with other people. The early adopters are the ones who have to try to convince this majority.
Delayed majority
These adapt the technology once it is fully established. They are initially averse to it, not trusting it enough to adapt quickly. They prefer to let others do it. They only do so when the use of the new product or service is very standardized.
Skeptics
Lastly, there are the skeptics. This is a very small percentage. These are the technology reactionaries. They don't go for the new, they don't like it. They are very traditional customers who do not want to adapt to the new. They only do so if there is pressure on them.
Spain is already at the forefront of early adopters. What does this mean? It is among the pioneers in the use of ICT (Information and Communication Technologies) worldwide. Something really important.
A product that has adapted very well to the innovation adoption cycle is Apple. The company has been successful since its inception in 2008. The evolution of units sold after the launch of each new model is spectacular. More and more people are joining the purchase of an iphone and that makes it keep growing.
Where does Virtual Reality stand?
On the other hand, virtual reality glasses have had a slower growth. When they were introduced in the market, very few companies and users bet on them, fear was high. However, there are already many companies that are adopting them in their strategies, due to the numerous advances they bring. Today, we are in the late innovation phase, the phase in which the product is adopted by a large majority.
You have to try to satisfy the global market, but as long as you have convinced and even excited your Early Adopters. They are the hardest to catch, but once you have them, you can't lose them and your business will start to take off.
