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Breaking Out of the Echo Chamber - Early Adopters vs. Mass Markets

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					Breaking Out of the Echo Chamber
Jackie Peters
September 15, 2008
blog.heavybagmedia.com
@jackiepeters
Is Your Market Up Here?
Or Down There?




PHOTO CREDIT: 4PIZON (http://flickr.com/photos/4pizon/)
  Market(s/ing)
  Marketing consists of everything a company does to acquire
  customers and maintain relationships with them. It's about
  aligning a product with a market.




PHOTO CREDIT: TINOU BAO (http://flickr.com/photos/tinou//)
Statistically Speaking:
90% Of The
Startups
Represented
In This Room
Will FAIL :-(
WHY?
• There are several reasons why internet stratups fail
  • Inadequate funding
  • Lack of vision
  • Substandard technology
  • Poor marketing
  • Changes in market conditions
  • Drama
But Mostly...
They simply aren’t making
stuff that lots of people want or need
The Proliferation
of Shiny New Toys (SNTs)
Breaking Out of the
Echo Chamber vs.
Crossing the Chasm
Breaking Out of the
Echo Chamber vs.
Crossing the Chasm
Breaking Out of the
Echo Chamber vs.
Crossing the Chasm
• Who is your market?
• Early adopters = teeny tiny
• Is your market represented there?
• Who are you developing for?
• How can you leverage killer technology without being
 disruptive?
Why Are You
Focusing on These People?
If These People Are Going to
Make Your Company Successful
Is this group 13%
of your total market?
Early Adopters In
The Feedback Loop
Early Adopters In
The Feedback Loop Can
Actually Widen The Chasm
Are You Really a
Technology Company?

Chances are that you are a
consumer product that’s built on technology
Who Are YOUR Early Adopters?
• Opinion leader
• Trendsetter
• Naturally curious
• Enjoys experimentation
• Risk taker
Focus on Your
Market and Bridge the Chasm
Breaking Out of the Echo Chamber
Jackie Peters
September 15, 2008
blog.heavybagmedia.com
@jackiepeters

				
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Description: Approximate transcription of presentation given on 9/15/08 at NextWeb NY. For the complete transcript please visit http://blog.heavybagmedia.com2.Has everyone seen Forrester’s technographic ladder?It’s a way of categorizing how people use the webthe people in this room are not only at the top rung, they’ve climbed up on the roof and are looking down at the rest of the world like they’re a bunch of ants3.I’m going to talk a bit tonight about marketing. Many people mistakenly get marketing and advertising or promotion confused. The fact of the matter is that marketing means looking at markets and making sure that everything from your product to your UX to you messaging, really everything about your company, aligns with a market.4.How many people here are at a startup? It’s a sad fact that statistically speaking 90% of the startups represented here won’t make it past the first three years.5.There are many reasons why startups fail6.But more often than not they’re simply not making stuff that people want or need. Or they’re not letting the right people know about it if they are.7.I want to discuss the danger of being a shiny new toy. The proliferation of shiny new toys means that the attention of early adopters is constantly pulled in a million different directions. It’s extremely difficult to gain a significant amount of attention over a long enough period of time for diffusion to mass markets to happen.8.Case in point...9.How many here are familiar with this graphic? It’s fairly well known, it comes from Geoffrey Moore’s “Crossing the Chasm” originally published in 1991 and revised in 1999.It’s become a staple in developing methodologies to market technology companies. I see a few problems with this approach. For one, it was developed in 1991. In 1991 there was hardly the proliferation of technology products that there is now. New products appeared infrequently, which meant that when one did, it was easy to capture the attention of early adopters and keep it long enou
Jackie Peters Jackie Peters Founding Partner http://heavybagmedia.com
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