Product Adoption

Product Adoption

November 15, 2022 by investor

Product Adoption

Product adoption raises awareness about the product and drives users to sign up for it.

A strong product adoption process generates more customers, reduces churn, and increases customer loyalty.

Product adoption comes in stages as follows:

Awareness — first make your customer aware of your product.

It is important to educate the customer about your product and the need it solves.

Interest — you must build customer interest in your product.

Content marketing, events, and webinars can be useful tools for providing more information.

Consideration — you must differentiate your product from the competition.

You want the customer to consider your product in an evaluation alongside the competition.

Testing — you must engage the customer in a pilot test.

These could be free or reduced-cost trials.

Lock-in — you want to set up your product so that it becomes a must-have for the customer.

Designing sticky features will help lock in your solution.

Consider these stages in driving product adoption.

 

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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.

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