The Eager Sellers Stony Buyers Principle tells us that sellers overrate their innovation's benefit threefold and the buyers overrate threefold what they have…the mismatch is one to nine…
Why?
Loss aversion
Clients view products they own as part of their foundation..and they assess innovations in gains and losses related to what they have…Remember, what Nobel Prize winner Daniel Kahneman told us: we are loss averse.
We should buy that green electric car but their refueling isn't that easy, right?
What to do? Make innovations thats gains outweigh the losses by far? 10times improvements are rare.
Balance product and behavior changes
Innovators understand the internal approaches, conventions, methods an tools very well…but it's much more important to understand its relation to the outside world...the objects of desire, progressive problems, conflicts…resolutions.
Innovators innovate through product changes but they demand behavior change
To get actors hooked to your innovation make things that matter, but don't forget to
- support routine
- identify underlying emotions
- let them add things that matter
- strengthen their role
- educate regular users
"Long Lasting Hits" balance product and behavior changes and LLH innovators help actors to manage the change.
Overcoming the Eager Sellers Stony Buyers trap, innovators need to act as analysts, newists, communicators, connectors and risk managers.
