We hope you all are having a steady week. Not long ago we wrote about how to know your audience and encouraging engagement, but we haven’t discussed about which category you need to identify with in your marketing audiences. We won’t get into the nitty-gritty but here is a mini crash course for you.
The marketing diffusion process is the ideology of when a specific customer experiences and learns about a product resulting in a purchase. There are five categories of these audiences: innovators, early adopters, early majority, late majority, and laggards. It’s in the best interest of small business operators to understand the consumer terms so that they can quickly identify and communicate to their preferred target audiences in the community.
Innovators are the smallest customer group and are the first to try out a new product without hesitation to risk. If products are not approved by innovators then the likelihood of the product surviving to the mass market of the community is limited. They are typically adventure seekers, and challenge driven with an active lifestyle within the community. Innovators are the leaders of the early adopters purchasing power.
Early adopters are the second smallest group of the population to accept a new product. They adopt the product from the innovators acceptance. Early adopters are popular people in the community such as the well-known local real estate officer or school principle. Early adopters approve the product from innovators ultimately influence the early majorities purchases.
Early majority takes up one third of the market audience and follow suit to early adopters choices. They’re income is slightly above average and have the ability to manage a little risk. After making purchases their ideas are relayed to the late majority of the community. The late majority are an additional third to the consumer market. They are more skeptical of products and services and will wait for feedback from the early majority people they know. Sometimes they will do more in depth research on the product.
Early majority and late majority take up a little over two-thirds of the population no matter which community a small business is in. The strategies to market to them will be developed off of understanding the dynamics of the audience influences on others, background information on each consumer, and their overall purchase power.
Laggards are the final group to purchase a new product because they are more hesitant to new things and/or have a more moderate lifestyle than most. They only change to a new product if their preferred product or service has been dismissed or put out of reach. Laggards eventually turn into a regular consumer once they have adopted a new method to what they are accustomed to.
Flight Reach Productions knows how to identify these audiences of the diffusion process for you when it comes to strategizing your marketing plan. We are driven to help our community succeed to optimal level. Call us today to make an appointment to go over your marketing plan today.