7.2. Early and Late Adopters

In order to implement these tanks, one is sharing information on innovation whether someone's feedback, someone who have used it that can also reduce some risks, you will become familiar with certain risks which someone else have faced it or they have encountered also you will get some familiarity about the uncertainties, from an early adopter to the late adopters now, how information flows?

Early adopters are the first individuals or groups to use a new technology or product. Their experiences and feedback are crucial as they help reduce uncertainties related to the innovation. When early adopters share their experiences, they not only highlight the benefits but also the potential risks, thus informing later users. This process helps to build a more comprehensive understanding of the technology, empowering late adopters to make informed decisions.

Think of it like trying a new restaurant in your city. You may be one of the few to go there first and try the food. If you enjoy it, you tell your friends about it, sharing what dishes were good and which ones to avoid. Your friends (the late adopters) then feel more confident trying the restaurant based on your recommendation.

The earliest innovators are called innovators because these are the first people who started using it, they might have taken a high risk to see how this particular product is going to work and then this is how the feedback have reached to the early adopters, so then the immediate network whether it is a friend, whether is a neighbour, whether it is the relative that is about a kind of micro level networks through their personal or a direct networks.

The adoption of new technology often follows a bell curve, where innovators lead the way, and their experiences influence early adopters. Innovators take significant risks because they are eager to test and utilize new ideas. Their successful use of a product prompts early adopters, who are less likely to take risks, to follow suit based on trusted feedback from their immediate social circles. This network of influence is critical for spreading the use of new technologies.

Imagine a person in your circle who is always the first to try new gadgets. They buy the latest smartphone before anyone else. After using it and sharing their positive experiences, others in your friend group start to buy it too. This is how the bell curve of adoption works—innovators like the first buyer pave the way for others.

And then there is another group who comes at the end, they try to see how people have adapted to it and then finally they are more in a conservative approach and these after having a serious testing of this understanding how this has been tested option.

Late adopters usually wait until they see substantial evidence of a product's reliability and usefulness before committing. They observe the experiences shared by early adopters and innovators, and they are often more cautious due to the perceived risks. By the time they decide to adopt a new innovation, it has been thoroughly tested and documented, reducing their uncertainty and increasing their comfort level.

Consider how people react to a new movie release. Early viewers might rave about a film, but some individuals will wait to see reviews before they decide to go. These late adopters are less about taking risks and more about ensuring the movie is worth their time and money.

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