What is Crossing the Chasm in business?

Crossing the chasm means being ready to meet the needs of the next round of new customers. By being aware of the upcoming hurdle and creating a strategy for getting around it, you improve your chances of success.

What does Crossing the Chasm mean in innovation?

Idea in short. Based on the classic bell curve distribution, Crossing the Chasm is a concept for visualizing the adoption of a new technology over time: starting with a small handful of early adopters, moving through the massive mid-market, eventually into the hands of even the most change-resistant consumers.

What is Crossing the Chasm model?

The “Crossing the Chasm” model argues there is a chasm between the Early Adopters of the product, who are the technology enthusiasts and visionaries, and the Early Majority. The model describes visionaries and pragmatists as having very different expectations and suggests techniques to cross the “chasm” successfully.

Why Crossing the Chasm is important?

The number one reason for startup failure is lack of focus. Crossing the Chasm is the best reminder a founder can get of the importance of selecting a beachhead market, focusing the business, and aligning all efforts on a single customer target.

Why do companies fail to cross the chasm?

Why is it Hard to Cross the Chasm? Put simply, different consumer expectations between the early adopters and the early majority. Most startups fail to recognize that their marketing strategies that worked well to attract the early adopters aren’t suitable to attract the early majority.

Why is crossing the chasm important?

Which is the first group to try a new product in Crossing the Chasm ‘?

First to adopt the new technology are innovators, followed by the early adopters and the early majority (together making up the early market); later come the late majority, and finally, somewhat reluctantly, the laggards.