Invitation OnlyOne way to engage early adopters is to launch early versions of your product or service on an invitation-only basis. This makes those you invite feel good and can trigger a fear of missing out that generates more demand. This works best if your product has significant publicity or status amongst likely early adopters. If you are unknown an "invitation" just looks like a marketing gimmick. unsought product is a product that generates no desire in people. This has several variations including products associated with misfortune such as fire extinguishers and funeral services. It is often possible to sell unsought products if people feel they need them. However, the adoption rate is slow at best and you shouldn't expect a sudden jump in adoption.
Failed ProductsProducts may lack adoption simply because they aren't valuable to customers. This includes products that fail to appeal to customer needs and preferences. Pricing, distribution and promotion can also be factors in product failure. For example, a product that is too expensive for the value offered.
Early & Late MajorityProducts can hit an extremely high adoption rate on the back of word of mouth and social status. This can occur because a product is innovative, fashionable or interesting in some way. It can also occur due to the brute force marketing efforts of a large firm. When the majority start adopting something it tends to happen quickly because the majority copy one another with enthusiasm.
LaggardsLaggards are independent thinkers or people who are simply out of touch with social trends or your market. A product that has been adopted by the majority will once again have a slow adoption rate as the last 20% of a market are laggards.
Internal AdoptionBeyond product development, it is common to track the adoption rate for internal changes. For example, a project that launches a new technology tool may target an internal adoption rate of 2000 users / month. If there is no mandate to use the tool, this may require internal communications such as presentations to generate demand.
Functions & FeaturesProduct development teams may also track the adoption rate of new functions and features. For example, a photo editing platform might track how many users try a new filter. This information is used to tune product strategy.
Calculation NotesAdoption rate is calculated as the growth in your active customers for a period of time. This is based on the formula:adoption rate = end - startWhere end are your active customers at the end of a month and start are your active customers at the start of the month. For example, a product that starts with 100 customers and grows to 1100 customers in a month:adoption rate = 1100 - 100 = 1000 customers / monthAdoption rate can be expressed as a percentage using the formula:adoption rate = ((end - start) / start) * 100For the example above this yields an adoption rate of:adoption rate = ((1100-100) / 100) * 100 = 1000%Adoption rate can be a vanity metric when you are growing from a small base.
|Overview: Adoption Rate|
The speed at which users begin to use a new product, service or function.