So you have your high-tech product ready for the market, now what? You can’t tailor to the needs of every target group, at least in the beginning. So you need to focus your attention on one group first and build a following.
Here are five groups of buyers you can target your high technology towards.
1. Early adopters
Typically consists of innovative companies and individuals and regarded as the early adopters. Techies are normally associated with this group because of their interest and excitement in all things high-tech and new.
This group can be prepared to buy technology without insisting on seeing it or having any guarantees that it works.
Although they account for a small percentage of the overall market. Techies are the ones most likely to embrace and praise your product. Maintaining good relations with them is vital to increase the level of adoption of other target groups.
Alternatively, instead of going for techies and trying to single out individual early adopters. You can try going for specific sectors that are likely to be buyers.
This group represents organizations having a clear need for new technology in order to boost their competitiveness or maintain it.
Because of the investment involved in switching to something new. They are more comfortable adopting it when references from prominent professionals exist.
The group also tends to prefer taking small steps when new technology is involved.
3. Late adopters
If late adopters could have it their way – they wouldn’t embrace any kind of high-tech. Generally they aren’t comfortable or assertive with new technology. They want to see it working straight out of the box – with installation and use, being easy and simple without knowing any technical jargon or knowledge on how to use it.
Late adopters can represent a large portion of the whole market. If you’re going to target them you better have a product that’s easy for them to adopt.
4. Your current customers
You can target your own customers when you have a sophisticated and rapidly evolving product. The decision to adopt usually depends on the relationship between you and the customer and the level of skills needed.
Remember not to neglect your own customers. You might think that they’re you’re most secure target. But if they are not satisfied with the product and service from you, they’ll certainly jump ship. Losing a customer and trying to get them back will cost you dearly in the long-run.
5. Competitor’s customers
Going after your competitor’s customers can be an excellent opportunity – provided your products can compete with that of your main rival’s, who has a larger market share.
However this approach can damage the credibility of recently developed technologies as a whole. As you fight it out to establish their products to be inferior to yours and vice versa.