So, according to Simon Sinek’s chart regarding early adopters, you can break down your customer base into the following segments.
0-2.5% = Innovators
2.5% - 16% = Early Adopters
16%-50% = Early Majority
50%-84% = Late Majority
84-100% = Laggards
This got me to thinking, at 1.5 million customers, where would we sit on this list right now?
It’s obviously not an exact science because there’s no fixed point where we would just stop getting new customers. But it’s an interesting thing to consider.
My personal gut feeling is that we’re very much in the early stages of the Early Adopters phase. Generalised market research data shows that significantly more people still haven’t yet heard of us in the street (and this is true for all fintech companies) but obviously that continues to grow in line with user base. This is actually quite empowering, because it proves how early a stage we’re still at - when you’re within the scene it would be quite easy to lose focus of that because it occupies such a big part of your life.
From running events, and talking to our customers around the country, it’s actually quite lovely, because the enthusiasm and excitement from a lot of people is really great to see. What I mean by that is, the product is still very new to them, and they marvel at what we’re doing, because they’ve only recently started using it. To anyone who like myself has been a user since 2016, we can forget about how delightful it is because we’ve been using it for so long already. But most people are still very new to us and that’s important to remember!
What do you think? And how are you feelings about us and the level of passion you have for what we’re doing impacted by the amount of time you’ve been a customer?