| If you have been reading this series of articles about | | | | first ones to enjoy its benefits. Early adopters are the |
| how to Harness Market Energy you understand why | | | | key to any technology success story. They teach you |
| a company would buy your solution, so now you need | | | | why customers will buy your solution. They are a |
| to figure out when they will buy it. | | | | reality check for your value proposition. From them you |
| As a technology market matures, Metcalf's Law | | | | learn about what customers really need, not what you |
| dictates that it will grow exponentially. Emerging | | | | think they need. You also learn the issues that can stall |
| technology markets balance the promise of | | | | the sale or the successful implementation of your |
| enablement with the risk of adopting a new solution. | | | | solution. By paying close attention to the buying |
| However in every market there comes a time when it | | | | behavior of your early adopters you learn what future |
| is easier to adopt the new solution than resist change. | | | | customers really value |
| This moment is called the tipping point; when it is | | | | To find early adopters look for prospects who want to |
| reached, market behavior changes dramatically. | | | | create unique strategic advantage. Look for pockets |
| To anticipate behavior in technology-driven markets, | | | | of tension in the marketplace. Who wants to change |
| you need to understand Technology Adoption | | | | and is really frustrated by the status quo? Early |
| Lifecycles, a theory explaining how people incorporate | | | | adopters like to shake things up. They have a lot of |
| technological innovation into how they work, play and | | | | energy and want to use it to make a difference. |
| live. If you create a better mousetrap, does everyone | | | | One of the challenges of prospecting for early |
| run out and buy it today? No. It takes time for people | | | | adopters is that you don't really know who you are |
| to hear about it; they need to see it work; they need to | | | | looking for. Finding and working early adopter accounts |
| have a mouse in their house, etc. before they will buy | | | | is an iterative process. You will learn something new |
| one. There are going to be some people who will want | | | | everyday. You have to constantly revise your theories |
| to buy it as soon as they hear about it; they are early | | | | and be open to new ideas, even if they don't fit in with |
| adopters. Other, more cautious people will wait until | | | | your existing frameworks. Because you only have the |
| they see how well it works; they are early majority | | | | limited perspective of your territory, it is difficult to see |
| buyers. Others are too cheap to buy it until they can | | | | key trends and identify emerging business strategies. |
| buy it at the discount mall; they are late majority | | | | This means you need to set up a communications |
| buyers. These human responses to new ideas, and | | | | network that supports a collaborative learning process |
| the changes they bring, are the essential concepts | | | | between field and staff organizations. Develop a |
| behind technology adoption. | | | | network with your peers in other territories and pick |
| Understanding how people integrate new technologies | | | | the brains of the "closers" who are working with other |
| to improve their business processes, personal lifestyles, | | | | sales people so you can keep current on fast-breaking |
| etc. is the essence of selling technology solutions. As a | | | | news about new accounts, market changes and the |
| technology sales person your success depends on | | | | competitive environment. |
| your ability to find the early adopters, so you can | | | | Forecast the early majority |
| establish the successful track record you need to build | | | | Like people, markets learn from experience. Once they |
| credibility as the market matures. Early success | | | | see early adopters enjoying the benefits of the new |
| captures the attention of the broader market and | | | | technology- a new set of companies start to consider |
| provides proof that your solution works. Like the | | | | adopting it, too. This next generation of prospects is |
| snowball rolling down hill, your solution builds the | | | | the early majority. Early majority buyers are more |
| momentum required to establish a dominant market | | | | pragmatic and concerned about the risks of adoption. |
| position. | | | | Fortunately you have your early adopters to use as |
| Find early adopters | | | | proof sources for this new set of customers. Early |
| Early adopters are critical to the long-term viability of | | | | majority prospects are more likely to focus on new |
| your technology solution because they help you build | | | | opportunities because they have a high desire for |
| your track record. If you want to be considered a | | | | potential incremental revenue applications that your |
| serious contender as the market adopts, you need | | | | new technology enables or are more interested in |
| early competitive wins. Early adopters are customers | | | | improving productivity because they are frustrated |
| who are willing to risk the inevitable hassles of trying to | | | | with legacy constraints. |
| implement a new technology in exchange for being the | | | | |