The World's Best Book Summaries
What are the steps you should take when building an online presence? Should you hire a web designer to build your site for you? According to marketing expert Gary Vaynerchuk, after you pick your niche market, the second step is to establish your presence online. Vaynerchuk recommends four steps for doing this. Continue reading to learn how to build an online presence.
What is Geoffrey Moore’s chasm theory? How does Moore’s model differ from the traditional Technology Adoption Life Cycle? According to the traditional Technology Adoption Life Cycle, customers smoothly and progressively transition from one stage of adoption to the next. However, according to Moore’s chasm theory, the psychographic differences between customers in each stage create gaps between each category, and the traditional TALC doesn’t account for those gaps. In this article, we’ll take a look at how the characteristics of each category generate each of the gaps.
Have you ever wondered why so many high-tech products seem to make a sensational entrance, but then disappear before they’re refined enough to become practical? What is the reason why most new, high-tech products never reach the stage of maturity? Adoption of new technology by the mainstream market doesn’t happen overnight. Further, most tech products will never see mainstream success. Marketing consultant Geoffrey Moore has an explanation for this: once the product is adopted by the early market of tech-savvy users, the sales stagnate as the mainstream market customers are not as keen on jumping on the new technology. Moore
What does it mean to prospect customers? How can you identify potential customers? Prospecting customers is the first step in an effective marketing strategy. It involves identifying your target audience and developing a strategy for turning them into paying customers. Keep reading to learn about the three steps of prospecting customers.
How do you know which marketing medium is the best choice for your brand? What factors do you need to consider? In his book Crush It!, self-made millionaire Gary Vaynerchuk says that once you decide what your personal brand will be, you need to figure out which medium to market it on. Choosing between text, audio, and video can be a tough decision. Here is how to choose the right marketing medium for your account, according to Gary Vaynerchuck.
What does Moore mean by “crossing the chasm”? How does remaining in the chasm between the early market and the mainstream market sabotage your business? According to Moore, in order to succeed in the early market, the company must “cross the chasm.” At a high level, crossing the chasm means becoming the market leader in a very specific niche market, and then expanding into other niches until you dominate the whole market. In this article, we’ll present an overview of Moore’s advice on how to cross the chasm.
How do you market a breakthrough technology? What customer segments should you target? According to Geoffrey Moore, the author of Crossing the Chasm, marketing high-tech products to the early market begins with innovators and moves to early adopters, early majority, late majority, and then laggards. The challenge for companies is to cross the chasm between the early market and the mainstream market (where the majority of customers are) and ultimately accelerate adoption across every segment. In this article, we’ll take a look at Moore’s chasm marketing chronology and the potential problems that could arise during the process.
What is direct-response marketing? Why should small businesses use it? Small businesses will often try to appeal to a large portion of the market. However, marketing expert Allan Dib argues they should instead focus on use direct-response marketing to target potential customers. Find out how direct-response marketing works below.
What is the Technology Adoption Life Cycle? What is the “chasm” in the context of the Technology Adoption Life Cycle model? The Technology Adoption Lifecycle is a theoretical model that aims to describe customer behavior in relation to the adoption or acceptance of a new product or technological innovation. According to Geoffrey Moore, the author of Crossing the Chasm, the Technology Adoption Life Cycle model doesn’t account for gaps that create the “chasm” between the early market and the mainstream market. In this article, we’ll discuss the flaw in the TALC model (according to Moore) and his revised explanation of the
What is the difference between a marketing strategy vs. tactics? Why do you need to understand your marketing strategy before thinking about tactics? Your marketing strategy is a high-level plan to achieve your marketing goals. Marketing tactics are the activities and methods used to put it into practice. The key difference between your marketing strategy vs. tactics is where you use them in your marketing process. Find out the difference between marketing strategy vs. tactics below.