Mass Marketing is Dead
The law of diffusion of innovation states that the fist 2% of our population are innovators the second 10% are early adopters while the ”Early” and ”Late” majority make up roughly 65%, and the remaining section of the population are ”lagers”. We all sit at various places on this scale at various times in relation to different products or services. The law states that the goal is not to do business with everyone, it is to do business with the ones who matter.
The ”Early majority” won’t try something until others have first, while the late majority are even more cautious, while lagers only come into play when the product or service has saturated the market and they have no choice to follow suit e.g CD’S replaced cassette tapes. The key individuals are the early adopters. In a world where we can fast forward live T.V,surf the web on our phones we are constantly inundated with advertising. Mediums such as mass market T.V advertising is becoming increasingly less effective and maintaining a strong online presence is becoming increasingly difficult due to the shear volumes of online platforms. Marketers and business need to start focusing their attention on the early adopters. these are the people who will camp outside to get those concert tickets, or the guys who will skip work to be first.They don’t do it for the product, they don’t do it to be cool, they do it to prove something about themselves and their own identity.
So what does the graph tell us? The law posits that 15-18% is a tipping point whereby the product or service has true market potential. but how do you get this first 18%? Find out here