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Five Myths of Consumer Behavior synopsis

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Myth 2:

The more consumers see it, the more successful it will be

The problem: Many companies believe in their product so much that they can’t understand why it isn’t successful. They assume that the problem is that others don’t know about the product, so they increase their marketing budget. However, they soon spend themselves out of business because consumers attracted to the product don’t stay to become long-term, loyal users.

Consumer Adoption Funnel

The reality:

If the offering isn’t attractive, there is no point in getting more users to see it.

The Consumer Adoption Funnel demonstrates how users progress through their experience with a new product or service.

The solution: Using marketing to attract more users won’t change how these users behave once they arrive—marketing is only the first gate of four in the Consumer Adoption Funnel. You can coax users into trying your product or service, but you can’t compel them to use it long term. Stickiness (value versus cost) must be optimized before users will increase their usage.

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