A joint design process of “designed by and for” is a must. While they cater to the needs of smaller groups, they have a major advantage in the market adoption Email Database of their solutions: go-to markets are highly targeted, and once the solution has been adopted by the original market, it has a high probability of scale up to neighboring markets. Some of the largest Email Database companies started this way, including Tesla, Uber and Oxo. The example: Thinx The period industry has long been characterized by shame and lack of options.
But now this industry is booming, from menstrual cups, reusable pads to menstrual underwear, such as Thinx . It is a reflection of the end of an era of shame for Email Database the female body and a way for women to define their relationship with their bodies, on their own terms. The product is simple, but with a deep impact on society. And also with a great ROI ( return on investment ), with Email Database a turnover of 100 million, reaching CVS pharmacies and Urban Outfitters at the same time – and expanding its own market with lines for teens (BTWN) and seniors (Speakx). Thinkx website.
Your action The companies that succeed in creating value for underserved customers will do so through 3 principles: Merge trends and in-depth knowledge of your Email Database target customer. Invite them to help design your solution. And support the community by giving back. When starting your business, zoom in on specific communities of people who have something Email Database in common beyond demographics. With a big problem that needs to be solved. Accept going for a smaller group of the initial addressable market. It will boost your startup's adoption in ways you can't foresee.