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Law of Diffusion of Innovation

 
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.
*Based on writings by Simon Sinek’s Start with Why.

More on this topic…

Experience of something is the opinion of one, how restaurants and retail can influence and shape the ideal desired result to win and retain customers

Experience of something is the opinion of one, how restaurants and retail can influence and shape the ideal desired result to win and retain customers

The experience of something is personal. Often filtered through one’s beliefs, expectations, memories and opinions. The experience of something is not the creation or curation of space, time and sensory stimuli – done so by a restaurant, a venue, an organization. The experience of something is what the goer, attendee or participant experiences as a result of being in (and have gone through) a designated space, over time, having at least one of their senses stimulated.

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