A summary of things you should know about Crossing the Chasm according to Geoffrey Moore: Introduction In this episode Geoffrey Moore shares all his insights on his bestselling book, CrossingRead More
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]]>In this episode Geoffrey Moore shares all his insights on his bestselling book, Crossing the Chasm, where he discusses his revised and updated expertise on marketing and selling disruptive products to mainstream customers.
In his book Moore provides dozens of successful high-tech marketing examples, his in-depth research on technology adoption models for high-tech consumers, and many new marketing strategies that are specifically built for bring high-tech products to larger markets. The goal of the book is to help you master the Technology Adoption Life cycle and accelerate your marketing efforts.
This book is perfect for entrepreneurs who are selling high-tech products that are new the market and need help broaden their marketing efforts to cover all segments of the Technology Adoption Life Cycle.
Most of the books in high-tech marketing understood that there were early adopters but they hadn’t recognized that there was this chasm separating the early adopters from everybody else. And as a result they thought they could just transition across very smoothly but in fact we lost many high-tech startups to the chasm.
I designed the book to be read from front to back.
The notion that when you are crossing the chasm you have to show up with a complete solution. The only way that is really feasible is if you specialize in one particular use case. So it’s the idea of pick a single use case and make sure it’s one that’s very urgent and compelling.
The key thing of the first part of the book is that we use a framework called the Technology Adoption Life Cycle to help entrepreneurs understand how high-tech markets develop. The key idea that we insert into it is this chasm idea which is the early adopting market really aligns with the entrepreneur very voluntarily. And the chasm then separates them from the rest of the marketplace which is more skeptical and pragmatic. So the strategy for marketing high-tech changes dramatically when it’s time to cross the chasm.
The last 2/3 of the book puts out a playbook and it’s organized around five key principles, there are five chapters in the playbook. The first chapter is when you cross the chasm you have to go initially to a very targeted niche market of people who have a very urgent and compelling use case for your new technology. The next thing you have to do is sit down and work through the target customer and the compelling reason to buy.
That lets you go to the third chapter in this book which is called Symbol the Invasion Force. The idea here is to bring together the other partners in the ecosystem that are necessary to work with you in order to solve that use case that the target customer has.
Once you have that then you can go to what we call Define the Battle which is the fourth of these chapters. And that is who is your competition and how are you positioned differently?
The last one is launching the invasion which has to do with your distribution strategy and your pricing strategy and how to pull that together to make that work.
NOTE: That was just a summary. To get the full deep dive, play the audio clip at 05:01
“First there is a mountain, then there is no mountain, then there is.” – Geoffrey Moore
I have an academic background originally; I was going to be a professor of English. But back in the 70’s I moved out to California, joined a high-tech firm, and been involved in tech marketing and high tech strategy since 1978. In the late 80’s I worked with a company called Regis McKenna and it gave me a chance to write this book which originally came out in 1990-1991.It’s about marketing and selling products to mainstream customers.
It was that high-tech firms would have experience of having early success with a handful of customers who were very enthusiastic about their disruptive innovation and that would make them think that they were ready to pour on the gas. And it just felt like the marketing kept on collapsing underneath them every time and this happened often enough that we knew we needed to find a solution and tell others about it.
The Innovator’s Dilemma by Clayton Christensen
The Regis Touch by Regis McKenna
Buy Crossing the Chasm by Geoffrey Moore on Amazon today
Visit GeoffreyAMoore.com to learn more about Geoff and his book
Follow Geoffrey Moore on Twitter and LinkedIn
Download the full transcript here (coming soon)
Listen on iTunes, Stitcher , and SoundCloud
Related books:
Hooked: How To Build Habit-Forming Products by Nir Eyal
The Innovator’s Method by Nathan Furr
Pocket Man by Scott Jordan
Relevant advice and tips:
5 Mistakes Entrepreneurs Make With Marketing and Branding
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]]>Latest Books for Entrepreneurs in November 2014 The Entrepreneurs Library presents the latest books for entrepreneurs in November 2014. These books are brand new to the market and the authorsRead More
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]]>Latest Books for Entrepreneurs in November 2014
The Entrepreneurs Library presents the latest books for entrepreneurs in November 2014. These books are brand new to the market and the authors are in line to share their insights with me. Stay tuned this month for the release of the interviews with these great books and the authors.
This provocative book is built on the idea that businesses must return to a more human engagement methodology in order to succeed. It is an informative read for anyone interested in improving influence, growing business reach, improving sales figures or understanding the complexities of human behavior.
Behavioral strategists Dan Gregory and Kieran Flanagan argue that if you want to increase your chances of success in business and life, you should design for reality. Offering real-world strategies with a healthy dose of wit and charm, Selfish, Scared & Stupid will help you design for success by aligning with natural human behaviors: selfishness, fear and stupidity.
Learn how the survival of the species plays into business, including delusional realities and the reasons ideas can fail. Discover how to offer customers strategic rewards, thereby making the buying process more attractive to selfish natures. Examine the link between fear and the unknown, including strategies for quelling fears and turning them into action.
“SSS is a triumph, a great read, stunning insights and the title had me laughing at myself and learning at the same time. It makes me want to be a better man–generous, courageous and intelligent!” – Matt Church, Founder of Though Leaders Global and author of Amplifiers
“Clever, rigorous and refreshingly real–this fad-free book shows modern-day realists how to unlock real results.” – Dr Jason Fox, Motivational Scientist and author of The Game Changer
Learn more about Kieran Flanagan and Dan Gregory | Buy Selfish, Scared, and Stupid on Amazon
Hooked is based on Eyal’s years of research, consulting, and practical experience. He wrote the book he wished had been available to him as a start-up founder—not abstract theory, but a how-to guide for building better products.
Hooked provides readers with:
Hooked is written for product managers, designers, marketers, start-up founders, and anyone who seeks to understand how products influence our behavior.
“A must-read for everyone who cares about driving customer engagement.” — Eric Ries, author of The Lean Startup
“Hooked gives you the blueprint for the next generation of products. Read Hooked or the company that replaces you will.” – Matt Mullenweg, Founder of WordPress
Learn more about Nir Eyal or listen to his own deep dive into the book | Buy Hooked on Amazon
Join double-decade, quarter-billion-dollar Couple CEO Heidi and Scott Shimberg, as they explore the intricacies and intimacies of living and loving life as an entrepreneurial couple.
Couple CEO addresses the specific challenges facing you as a team and as partners with actionable lifestyle advice, proven business management strategies, and colorful guidance that answer questions like: How can you put the spark back in your relationship and make sure it stays lit? How do you live a life where your business and relationship coexist and thrive?
The challenges as a couple are unique. Couple CEOs often struggle to create balance between growing their business, enjoying a happy family, and living a healthy lifestyle. This book is great for any couple engaged in growing a business together, but also a valuable read for any couple creating a life together.
Learn more about Heidi and Scott Shimberg or listen to their deep dive into the book | Buy Couple CEO on Amazon
Drawing on her experience of great adversity–and even greater success—Patricia Walsh shows you how to set realistic milestones and describes a simple and effective process for mapping these milestones to daily tasks that will help you achieve what you previously thought unachievable.
In Blind Ambition, Walsh both inspires and educates by relating her unforgettable personal story while detailing her proven Fuel / Fire / Blaze approach to achieving any goal:
“Patricia Walsh lays out an extremely effective framework for achieving your highest goals–in business and in life. I have personally seen Patricia apply this approach to great success at Microsoft. Anyone who reads this book will be that much closer to achieving their goals.” — Steven Sinofsky, former president of the Windows division at Microsoft Corporation
Learn more about Patricia Walsh | Buy Blind Ambition on Amazon
Whether you’re a recent college graduate faced with a difficult job market, an ambitious entrepreneur trying to anticipate the Next Big Thing, or a struggling executive weathering a storm of constant global change, this book will guide you through anything the world throws at you.
This powerful book by Drucker scholar and author Bruce Rosenstein incorporates the master’s time-tested principles into a step-by-step daily plan that will change your life forever. Starting right now, you can:
“Rosenstein has opened the door to an important and often misunderstood area of Drucker’s work–why an understanding of the future is so critical for our development as leaders. It confirms my belief of a bright future ahead.” — Frances Hesselbein, President and CEO, The Frances Hesselbein Leadership Institute
Learn more about Bruce Rosenstein | Buy Create Your Future the Peter Drucker Way on Amazon
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]]>Things you should know about Hooked according to Nir Eyal Introduction In this episode, Nir Eyal shares his book Hooked where he teaches you why very few products see successRead More
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]]>Things you should know about Hooked according to Nir Eyal
In this episode, Nir Eyal shares his book Hooked where he teaches you why very few products see success and what makes consumers engage with certain products out of habit.
In his book, Eyal gives you a four-step process for figuring out exactly what you should build into your product to make it better than the rest. The goal of Hooked is to have your products bring consumers back continuously without depending on costly advertising and messaging.
This book is perfect for entrepreneurs who are having troubles creating or getting a product to stick and need actionable steps for building products people love.
I couldn’t find that book out there that told me what resources and tools I could use to figure out what I should build into my product.
If you are working on the kind of product that requires repeat engagement then you need to have what I call the complete hook, a four step process to creating customer habits. However, even If you are building a one-time use service there is still a lot that you can learn from consumer psychology by understanding these deeper reasons that people do what they do and I believe you can get the outline of that by jumping in and out of the book. I really hope that the reader gets to the end because I believe that there is a lot here that can help people save a lot of time and energy in building their businesses.
The one principle I would want the reader to take out of the book is that your behavior is designed.
The book follows this model that I call The Hook which is basically a design pattern. It’s something that I found in my years of research that is in all sorts of habit forming products. So my research revealed this four step process which I detail throughout the chapters of the book.
The first step in The Hook is The Trigger phase. The trigger phase is something that cues the user to action; it’s what prompts the habit. These triggers come in two types, internal triggers and external triggers. External triggers are things in our environment that tells us what to do next. This is what most people think of when they think about cues to action. Internal triggers are these things that prompt the user to action and there information for what to do next is actually in the users head. So what people do when they are in a particular situation, routine or when they feel certain emotions this dictates what they do next. If your company can attach to these negative emotions, this is where habits are formed. It’s absolutely critical that if you want to build a habit forming product you have to figure out what that internal trigger is.
The next step of The Hook is The Action phase. The action phase is the simplest behavior that the user does in anticipation of a reward. If you can make a behavior easier to do you are more likely to get that behavior to occur.
Then the next chapter is about variable rewards. It turns out that at the heart of all sorts of habit forming products you will find a variable reward. I details three critical types of variable rewards found in all sorts of habit forming products both online and offline.
Finally, the last step of The Hook is The Investment phase. It’s the part of the hook that I find most companies neglect as well as where there is the most room for growth and opportunity. It turns out that this phase is absolutely critical in bringing users back and it’d defined as the step where the user does a bit of work to increase the likelihood of them returning. I detail how you can ask people to invest in the product so that they can come back in the future whereas the product gets better the more it gets used.
At the end of the book I give some case studies and I profile an app that’s one of the most successful apps in the world, the bible app and I detail how this app uses the principles of consumer psychology to keep people coming back to use it. I also talk about the morality of manipulation, that if you’re using consumer psychology to change people’s behavior, I offer up a guide for how to use this responsibly.
“Hooked gives you the blueprint for the next generation of products. Read Hooked or the company that replaces you will.” –Matt Mullenweg
I’ve started two tech companies and after my last company was acquired I dove into the more academic side of consumer psychology and habit formation which is what I’ve been working on for the past three years.
I was at my last company and was banging my head against the wall trying to figure out why my customers weren’t doing the behaviors that I designed for them to do. I wanted to dive deeper into consumer psychology, into the things that people are not able to necessarily articulate and yet predictably drive their behavior. So I couldn’t find that book out there that told me what resources and tools I could use to figure out what I should build into my product.
Hackers and Painters by Paul Graham
Buy Hooked on Amazon today
Visit HookModel.com for bundles of content
Visit NirAndFar.com to read Nir’s personal blog
Follow Nir Eyal on Facebook and Twitter
Download the full transcript here
Listen on iTunes, Stitcher , and SoundCloud
Related books: Zero to One by Peter Thiel and Blake Masters | Traction: A Startup Guide to Getting Customers by Gabriel Weinberg | Smartcuts: How Hackers, Innovators, and Icons Accelerate Success by Shane Snow
What did you like and not like about this episode? Fill out this one minute survey here.
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