Law of Diffusion of Innovation

May 13th, 2010 § 6 comments

 

Innovators 2.5% – These are the ground-breakers, the risk-takers, the creative thinkers and entrepreneurs whom by nature are designed to change the world.

Early Adopters 13.5% – In this category are the individuals that believe in the product, the ones that buy the story out of an emotional decision – an inner drive to identify oneself with something of similar value and purpose.

The Chasm – Between the Early Adopters and the Early Majority exists The Chasm, the tipping point before a product is accepted by the mass market (68%, Early and Late Majority). When looking at a new business conversion rate, if your figure has not reached the 12-15% mark, your product has not entered the mass market.

Early Majority 34% – These people will not try something until someone else has tried and tested the product.

Late Majority 34% – This group will only welcome the idea and product long after the majority acceptance. These are the skeptics.

Laggards 16% – This final group essentially has no choice but to accept the product. Either tradition or ignorance defines this category.

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