A high number of innovations fail to the reach the hopes and dreams of their inventors! Being the new kid on the block doesn’t guarantee you will be a success in the market place.
Your product may be unheard of or the latest in cutting edge technology. But that alone, won’t have customers flocking to buy your product. Especially if it’s complicated to use and the benefits are not made obvious.
Of course there can be many other reasons why acceptance or adoption of your innovation is low. However all is not lost. You can still do something to increase the likelihood of innovation adoption with this how-to guide:
1. Solve a problem
No matter how sophisticated or advanced your innovation is. If it doesn’t solve a problem for your customers, it’s adoption rate won’t be great.
This is where the value of your product is determined. Ask yourself and your target market: What problem does the product solve? What are the benefits of using it? Will your product be the economical option, the luxury item, the convenient choice or the fashion statement?
2. Make it compatible
For customers to switch and buy your product, you need to make it easy for them to change. Otherwise the cost of changing outweighs the benefits your innovation would deliver. It not only has to be technologically compatible, but also keep in line with the beliefs and lifestyle of your target group.
3. Easy to learn
Keeping with the theme of making it easy to change. It also has to be easy to learn and use the product. Having a complicated system to learn will only frustrate your customers and erodes the product’s benefits. You’ll have a higher rate of adoption if the product’s learning curve is short.
4. Lower the risk of adoption
Have you ever wondered why you can play around with an iPad whenever you visit a store? Well it’s because Apple wants you to get to know the device better and lower the risk for you to buy it. They give you a little taster of what it would be like to own one.
With your product, you can give out samples and stage demonstrations. Samples lets your customers try your product for free, while demonstrations can show how easy it is use the product.
5. Let the benefits show
One of the best ways to achieve a greater adoption rate is to have the product speak for itself. Make the benefits of the product as visible as possible so that when your customers are using it, their friends and family will want to know more about it.
Whether it’s an elegant design, a mobile phone that acts as a mini-projector or an easier way to exchange business cards. Give your product the wow factor to get people buzzing about your innovation.