Startup Funding Espresso – Product Adoption Steps

Product Adoption Steps Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Product adoption is the process of increasing the customer's awareness of the product so they try and then buy the product. Product adoption increases revenue and retention and reduces churn. There are six stages of adoption as follows: Awareness -- the customer becomes aware of the product and its capabilities. A strong brand helps generate awareness. Interest -- the customer finds something interesting about the product. Interest usually comes from the specific problem they are trying to solve. Evaluation -- the customer tests the product to see how it works. Customers often try competitor products at the same time for comparison purposes. Trial -- the customer signs up for a trial run of the product. Trials are often free for a limited time. Activation -- the customer signs up to use the product ongoing. Customers should see immediate benefits when signing up. Adoption -- the customer makes the product a part of their workflow. Build tools to facilitate the customer through these steps. Remove friction from the process so customers can more easily engage the product. Understand the customer journey of your product to build out this program. Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let's go startup something today. _________________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Investors check out: https://tencapital.group/investor-landing/ For Startups check out: https://tencapital.group/company-landing/ For eGuides check out: https://tencapital.group/education/ For upcoming Events, check out https://tencapital.group/events/ For Feedback please contact [email protected] Please follow, share, and leave a review. Music courtesy of Bensound.