The Technology Adoption Life Cycle is a sociological model that describes the adoption or acceptance of a new product or innovation according to the demographic and psychological characteristics of defined adopter groups. It’s often visualized as a bell curve.
The Five Stages of Adoption
- Innovators (2.5%): These are the risk-takers who are eager to try new ideas.
- Early Adopters (13.5%): Visionaries who adopt new ideas early but with a more cautious approach.
- Early Majority (34%)): Deliberate adopters who adopt new ideas before the average person.
- Late Majority (34%)): Skeptical of change, adopt new ideas only after it has become the norm.
- Laggards (16%): Resist change and adopt new ideas only when it’s almost obsolete.
By understanding where your target market falls within this curve, you can tailor your marketing and sales strategies accordingly. For instance, you’d focus on creating awareness and generating buzz for innovators and early adopters, while providing social proof and emphasizing reliability for the early and late majority.