The chasm refers to the technology adoption lifecycle, or the transition from the early market into the mainstream eye. Crossing the chasm means the opportunity for hyper-growth and market success. It’s the leap from being a new, little-known and exploratory product, to mass adoption and well-known status.
In his first book, Moore argues that in order to successfully cross the chasm you must do the following: Create the “whole product” – don’t try to cross the chasm without a complete feature set and all major bugs eliminated. Position the product appropriately for skeptical pragmatists who make up the early majority.
Ergo, “ Crossing the Chasm ” is still very much valid for the B2B technology market taken as a whole and will continue to be relevant for the forseeable future. In the SaaS model you often “land” with a given early adopting unit but seek to “expand” by crossing the chasm to pragmatic later adopters.
Growth comes to a screeching halt and things just stagnate. The challenge of the chasm arises because it is where the desires of your market segments shift dramatically. Your innovators and early adopters want to be on the cutting-edge. They like trying new things.
between the rich and the poor
The chasm exists because after a certain point of selling a product to early adopters, the sales reach a plateau where the next stage of growth is to take the product to the masses. These differences demand that you market and sell to these two types of client in very differently ways.
Innovators are the first 2.5 percent of a group to adopt a new idea. The next 13.5 percent to adopt an innovation are labeled early adopters . The next 34 percent of the adopters are called the early majority.
The Chasm is a ravine filled with rapidly running water and sharp rocks. It is located on the right side of The Pit in Dauntless headquarters. The floor is several stories above the chasm and has an iron barrier blocking the edge.
There are 5 types of adopters for products; innovators , early adopters , the early majority, the late majority and laggards.
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.
Well, the standard English pronunciation for “ chasm ” is KA-zum. The word starts with a hard “k” sound.