Market segments - PLG series - #3
The market segments to be addressed - building on Geoffrey A. Moore's Crossing the Chasm
Innovators - to achieve Value-Market-Fit, months 0-6
- They pursue new technology aggressively
- Enthusiast about the newest product ideas and problems they solve
- Success metric: get in front of 50-100 Innovators and run an interview playbook to capture their feedback —» in order to be confident in the product direction
Early Adopters (Design Partners) -- to achieve Product-Market-Fit, months 6-12
- They are also technology enthusiasts
- They are motivated by solving a specific business problem to gain a competitive advantage
- They help to build the product with you in order to carry it into the Mainstream Market
- Smaller bugs are expected, but won't tolerate failed installs or other major issues
- Success metric: 5-15 Design Partners who install the product and provide feedback
💡 Consider giving discounts, giving away for free in return their feedback using your product live
Early Majority -- to achieve Product-Sales-Market-Fit, months 12-18
- They want to make incremental, predictable improvements.
- They are pragmatists, need return on their investment.
- They don't tolerate significant or obvious bugs
- Once crossing the chasm, they are sticky, most entering into multi-year agreements
- Sales leader and full-time sales reps might be needed to scale this effort
- Success metric: 5-10 paying customers with similar use cases with consistent average sale price (ASP)
Address each of three market segments in sequence, one at a time, with specific success metrics that you achieve before moving on to the next segment.
In this PLG series I'm posting my own research findings about Product Led Growth. The goal is to give back to the community, so I'm happy to tailor the posts more to my audience's needs. Just drop a comment to give feedback.
Link to the next PLG post: https://www.indiehackers.com/post/gtm-framework-with-innovators-plg-series-4-9b0fa22ada
