Laggard
Laggards are the segment of consumers who are the last to adopt new products or technologies in the innovation diffusion theory. Laggards are skeptical about new ideas and technologies and tend to adopt them only after they have been widely accepted by others. This segment typically makes up about 16% of the overall market and often waits until innovations have reached maturity before adopting them.
Characteristics of Laggards
Skeptical
Highly skeptical of new technologies and products, considering adoption only after others have done so.
Example: Switching from a feature phone to a smartphone only after smartphones have become widely popular.
Conservative
Strong attachment to existing products and technologies, showing resistance to new ones.
Example: Preferring products and services they have used for many years.
Cost-Conscious
Very sensitive to the cost of new technologies and products, often waiting for prices to drop.
Example: Not adopting new technology until there is a significant price reduction.
Limited Social Influence Network
Tend to receive information about new ideas and technologies later than others.
Example: Being connected with similarly conservative individuals, resulting in delayed information flow.
Strategic Approaches for Laggards
Presenting Evidence and Track Records
Increasing trust by showing success stories and proven track records of new technologies and products.
Example: Providing data and reviews demonstrating customer satisfaction.
Offering Cost Reduction Measures
Providing price reductions or special discounts as laggards are sensitive to costs.
Example: Emphasizing special prices or long-term cost-saving benefits.
Emphasizing Ease of Use
Highlighting how easy new products or technologies are to use.
Example: Showcasing simple usage methods and intuitive interfaces.
Minimizing Risk
Offering guarantees and support to alleviate the concerns of laggards.
Example: Providing money-back guarantees and 24-hour customer support.
Utilizing Testimonials and Recommendations
Enhancing credibility by using recommendations and testimonials from other laggards.
Example: Sharing positive feedback from laggards who have already adopted the new technology.
Marketing Examples for Laggards
Home Appliances
Offering price reductions and long-term warranties to laggards who take longer to adopt new technologies.
Example: Providing an energy-efficient washing machine at a special price with a long-term warranty.
Financial Services
Emphasizing ease of use and security for laggards who are skeptical about adopting new online banking services.
Example: Highlighting simple operation methods and robust security features.
Medical Technology
Showing evidence and reliability to laggards who are resistant to adopting new medical technologies or devices.
Example: Emphasizing clinical trial results and the benefits experienced by many patients.
Approaching laggards typically involves waiting until new technologies or products have matured and been accepted by many users. Understanding their skepticism and conservative nature, and using appropriate strategies can effectively capture this segment.