Innovators, Early Adopters Key to the Mass Consumer Base

There’s a paradox in business when it comes to consumer acquisition. Consider a basic bell curve of the consumers available to your business. Any business owner can quickly realize that the goal is to capture the center of the bell curve. That’s where the numbers are and that where the money is at.

The trouble is when small businesses shoot for the center of the bell curve. In the process, they either create an unremarkable offering that can’t punch through or they create the wrong expectation by trying to communicate a niche offering to a mass group. There are few examples of businesses that shoot for the center of the bell curve out of the gate and are able to capture that audience. (I can’t think of any at the time of writing.) Doing so often takes a remarkable amount of marketing dollars and a level of luck no one can bet on.

This isn’t a doom and gloom story, however. There is a more prosperous path to the center of the bell curve and it ironically involves a completely different focus. If you look to the consumer bell curve, you’ll see the initial tail of the market has only a fraction of the market share (2.5% + 13.5% = 16.0% Market Share) of the center of the bell curve (68% Market Share) but is the most sustainable, impactful entry point for any sustainable route to the center.

Let me explain.

This means the focus ought to be on the innovators and early adopters. Having an approach that focuses on these early stage consumers has the obvious benefits of a passionate consumer group and a market size that you can communicate with and afford to reach. The advantages to this approach don’t end there, however. The behind-the-curtain effects of this approach can’t be underscored enough.

Research and the market both indicate a basic truth in business. The way to win market share is to be remarkably different. Asymmetrical value is the name of the game. In that way, there’s almost nothing about shooting for the center of the bell curve that is, well, remarkable.

A millennial would call that “basic”.

After all, how would a consumer make sense of a new company amongst all the noise in the market place in 2019? It’s not going to come from being 9% better than the rest of the market in four out of seven industry categories. Plus, that is an incredibly difficult story to tell.

“Here at Sonny’s Camera we have most of the cameras you can buy at other camera places, except we have a couple digital ones that are hard to find. Need a new lens? Our prices are more or less the same as what you’d find on the Internet, but if you don’t leave during rush hour you can likely get here and find a parking spot without too much trouble in forty minutes.” I know I’m not rushing to give those guys my business. What about you?

There is something compelling, easy to understand, and valuable, however, about this” “Sonny’s Camera: We’ll get your taking photos (again) in twenty-four hours or less.” Frankly, I’m not so much worried about price, location, or even selection. I know what to go to Sonny’s for and they are remarkable in that way.

Luckily, the best consumer acquisition plan is the same plan that makes for a remarkable business offering in the first place. Do something specific for a specific group of people that will appreciate it and earn their business. Once you win the innovators and early adopters in your market, you’re on your way to educating the center of the bell curve as to what you do so well. This is much more effective and much less costly than paying exorbitant amounts of cash to win the masses with flashy marketing. If that were a viable strategy, we’d have more evidence of its efficacy. Instead, most of our favorite brands that dominate the center of the bell curve began by focusing on their early adopters and innovators.

Nike was a track shoe first. When Uber launched, it wasn’t easier to get or more affordable to get than a cab in San Francisco and New York. It was for tech aficionados who could “order” a black car from their cell phone without making a phone call. Levi Strauss jeans were for mine shaft workers during the gold rush. All three companies can thank their innovators and early adopters for solidifying their value and brand story for the rest of us to enjoy them at levels that looks like billions in revenue.

Logan Gelbrich
@functionalcoach