I read this book because I wanted some insight into marketing. I want to market my product as effectively as possible when the time comes to release it to the market.
This book is less about marketing in the traditional sense, and more about being remarkable in the market. The reason for this is that the traditional marketing approach really doesn’t work like it used to. Companies still need to reach their customers somehow, especially today when consumers are far too busy to do much research into what it is that you’re selling. But they’re too busy to pay much attention to advertising either. I’m one of these people. We still have problems that we need solved, and the money to spend on solutions. But most consumers would rather find the products that they need by asking their peers what they’re using. This group of people is picky and hard to reach. The old paradigm of safe and ordinary products and great marketing is out. The new paradigm is all about remarkable products that appeal to the right people.
Upon entering the market, all products or services pass through what marketer and author Geoff Moore calls the diffusion curve. The diffusion curve models the adoption phases of the market. The very first group to try a new product are the innovators. Innovators are the risk takers that want a product more than they need it, and are going to tell anyone that will listen about their experience. Next come the early adopters. These people are very important. They are what the market depends on to determine if something is worth buying. Then come the early and late majority, followed by the laggards.
Big marketing companies used to try to appeal to the entire market at once by spending huge amounts of money on TV, print, and radio advertising. But because consumers now largely ignore these untargeted, spray and pray intrusions on their attention, in becomes clear that the real value is in the first two groups on the curve. In this sense, the innovators and early adopters are a companies most important marketing asset, and should be invested in heavily. If you can create a truly remarkable product that appeals to a niche that will sell your product for you, you will be successful.
My takeaways- I’ve learned that innovation comes first. Boring products are risky, and standing out is imperative. Mass marketing is expensive and largely ignored. It has never been more important to know who your customers are and to get to really know them. Money spent on advertising is better spent on design and finding out what it really is that your early adopters want. This was a great book and I’m glad I read it.
