Evolve your product to tap into a larger addressable market

Congratulations! Your new product is in the market, you have a growing customer base, people are talking about your product and they're actually paying you money to use it. Surely this is utopia?

However you choose to classify your customers at this stage, you're more than likely targeting a niche segment of innovators, early adopters, enthusiasts and visionaries who are always on the look out for, willing to try and even endorse new products. Unfortunately, while this group is critical to your product's and business success, they are often insufficient in numbers for you to truly hit the mainstream.

Your priority now is to develop your product and your marketing strategy so that you can expand your customer base into the early and late majority, the pragmatists and the conservatives. Geoffrey A. Moore famously described this leap as "Crossing the Chasm".

This much larger customer population has additional needs to those in your original niche. There are a whole new bunch of customer personas, customer journeys and jobs-to-be-done that need to be developed. To address this market, your product will have to evolve and broaden out into a more complete solution.

If you'd like to get some hands-on experience learning how to bring your ideas to life, then check out my course on innovation, S.L.I.C.E. - it will give you all the help you need.