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Mahesh Punia Live Bean   7th Annual Digital Africa Summit

Mahesh Punia Live Bean 7th Annual Digital Africa Summit



Bridging the Gap Between

Bridging the Gap Between
Customer Needs and Technology Innovation



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    Mahesh Punia Live Bean   7th Annual Digital Africa Summit Mahesh Punia Live Bean 7th Annual Digital Africa Summit Presentation Transcript

    • “Convergence & Innovation Excellence Driving Positive Change” Bridging the Gap Between Customer Needs and Technology Innovation Crossing the Chasm! Presented by: Mahesh Punia CEO, LiveBean Consulting maheshpunia@livebean.net www.livebean.net
    • References sources: Crossing The Chasm… Geoffrey A Moore A Summary of Crossing The Chasm… Jonathan S Linowes Theory of Diffusion of Innovation… Everett Rogers Technology Adoption Lifecycle… George M Beal, Joe M Bohlen and Everett Rogers maheshpunia@livebean.net www.livebean.net
    • Bridging the Gap Between Customer Needs and Technology Innovation Crossing the Chasm! maheshpunia@livebean.net www.livebean.net
    • Which Gap? • Gap between a ‘great product’ and its Adoption by targeted end-users • Gap between Investment & Return on Investment • Gap between a product / technology that was great but could not be really successful • Gap between a great product and a support mechanism • Gap in the number of new start-ups and those which survive maheshpunia@livebean.net www.livebean.net
    • Understanding the ‘Gap’: A market is defined as: a set of actual or potential customers for a given set of products or services who have a common set of needs or wants, and who reference each other when making a buying decision Least intuitive, but is the key to successful high-tech marketing- - the tendency of the members of this group to reference each other when making buying decisions maheshpunia@livebean.net www.livebean.net
    • Is it a Smooth Bell Curve? Business Planning Gap: is the assumption that adoption of all new products / technology will follow a smooth bell curve and the way to build a market is to work the curve from from left to right, progressively winning each group users BUT………. maheshpunia@livebean.net www.livebean.net
    • Understanding the ‘Gap’: Many ventures Fail trying to make it across this chasm There are gaps in the curve, between each phase of the cycle This represents a disassociation between any two groups – the difficulty any group will have in accepting a new product if it is presented the same way as it was to the group on its immediate left The largest crack is between the Early adopters and Early majority – this is referred to as the CHASM maheshpunia@livebean.net www.livebean.net
    • Early Adopters: Early Adopters -You can succeed with the visionaries - visionaries and get a reputation of a hig flyer - match an emerging technology with a hot product to a strategic opportunity - But this is not where the dollars are. - driven by business goal, not a technology goal - The real funds / profits are in the - often fund new technologies hands of more prudent souls who do - start out with a pilot project not want to be pioneers – the pragmatists maheshpunia@livebean.net www.livebean.net
    • Early Majority – the pragmatists: Early Majority - On the other hand if you can sell to - Care about who they are the pragmatists within a niche buying from vertical, they tend to be loyal and - Quality of the product refer you. - tend to be ‘vertically’ oriented - This reduces cost of sales as compared to the technology - This increases the leverage on enthusiasts and early adopters incremental R&D support - Not easy to break in to a new market selling to pragmatists – they need references maheshpunia@livebean.net www.livebean.net
    • Visionary vs. Pragmatist: quot;Pragmatists are NOT anxious to reference visionaries in their buying decisions” Four fundamental characteristics of visionaries that alienate pragmatists: 1. Lack of respect for colleagues' experiences. 2. Taking greater interest in technology than in their industry. 3. Failing to recognize the importance of existing product infrastructure. 4. Overall disruptiveness. maheshpunia@livebean.net www.livebean.net
    • Crossing the Chasm: Crossing the Chasm requires the following steps: 1. Capture real needs of the customers • Is it something that will add value to customers at large? • Do they want it or is it that you think that they want it? • Are they willing to pay for it? What counts is not what they SAY, but WHAT they PAY • Being customer centric rather than product centric – take an outside in approach maheshpunia@livebean.net www.livebean.net
    • Crossing the Chasm: 2. Focused / niche / segmented marketing • Focus in a single market, create a beachhead • Win domination over a small specific markets to establish market leadership and use it as a springboard for adjacent extended markets • Pragmatists like to buy from market leaders. • But, if you are yet to cross the chasm then by definition you are not a market leader • The only right strategy is then to take a ‘big fish, small pond’ approach • Have discipline to be market driven rather sales driven – helps to establish a strong word-of-mouth reputation To create a pragmatist customer base, we must ensure that our first set of customers completely satisfy their buying objectives maheshpunia@livebean.net www.livebean.net
    • Crossing the Chasm: 1. Capture real needs of the customers 2. Focused / niche / segmented marketing 3. Application vs. Platforms • Most innovations are more likely to be championed by end users rather than the technology professionals that operate the current technology • If end user see that the application fixes a mission-critical business process, they then insist in its deployment in spite of IT department’s reluctance To accelerate adoption of new innovative platforms, then, the innovators / vendors must clothe them in applications clothing maheshpunia@livebean.net www.livebean.net
    • Crossing the Chasm is critical for the survivability of new technology / products and A focused planned niche segment strategy is the solution maheshpunia@livebean.net www.livebean.net
    • Thank You maheshpunia@livebean.net www.livebean.net