The points that explains how can product adoption improve are as follows:-
Product Improvement â€“ Companies should constantly strive to improve the features of their products. They should try to add more value to the product to outpace the competitors. Companies can make product improvement in multiple aspects such as quantity, quality, appearance, fragrance, etc. They can use the feedback of the customers to add new features to the product.
Support â€“ In todayâ€™s digital era, everyone has access to many digital gadgets but, not all people are equally well-versed in dealing with such products. Thus, one can infer that a product that offers more convenience and support to the users gains the upper hand in the market base. It is not just about the product features, rather, it includes the support of services. A customer should receive a timely and precise response to resolve his queries.
Engagement â€“ Customer loyalty is hard to achieve, but it yields profitable results in unexpected ways once earned. A company should not forget the customers after making the purchase-sale deal; rather, it should maintain a sustainable relationship. It can maintain engagement via several social media or email platforms to collect crucial information regarding customer satisfaction in todayâ€™s times. A few messages appreciating the customer’s feedback and response could work wonders for the company. It can result in successful word-to-mouth advertising to create a new customer base.
The Factors Influencing Product Adoption
Product adoption is a dynamic process that is influenced by multiple market forces. The factors influencing the adoption of a product could be both internal or external to a company. Every business should consider the divergent features of the adopters for widespread adoption of a product. The factors which influences product adoption are as follows:-
Relative Advantage: Is the product more valuable than that of the competitor’s product? If a customer is already using a competitor’s product, they are more likely to switch if a superior product is offered.
Compatibility: Is the product compatible with the demographics of the target audience? That signifies the appropriateness of the product with the lifestyle of the target market audience.
Complexity: A customer may or may not prefer complexity in the use of the product. Should consider the demographic aspects before measuring the complexity of a product. For instance, a digital product should be comfortable for the older generation.
Trial: How long will people be able to try the product? If the difference is not significant, then the brand can extend the free premium plan.
Observability: How visible is the product to the target market audience? A brand should use behavioral segmentation to target the customer and enlarge its presence.
Professor E.M. Rogers has highlighted product adoption in society through a product adoption curve. The curve depicts the five groups as Innovators (1st learners), Early Adopters, Early Majority, Late Majority, and Laggards (unwilling to change). He explained how different adopter groups of society adopt product innovation in a different manner or duration.
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