One way to discover new growth opportunities is to examine people NOT consuming a product or service and ask “why?"
Consider, for example, home security systems. It can be argued that virtually everyone has the “job to be done” of “help me keep my home and personal belongings safe.” However, a relatively small portion of the population “hire” home security systems to protect their homes and belongings. Why is that? A large portion of the population live in rented homes and apartments. Not being established, these consumers are turned off by both the significant investment and lengthy contracts required to install a home security system.
So…how would you cater to this large market of unsecured homes and apartments?
SimpliSafe, a Boston-based startup, set out to fill this need. From SimpliSafe you can purchase a reasonably priced home security system that requires no contract and can easily be setup by yourself. SimpliSafe is a classic example of Professor Clayton Christensen’s theory of New-market Disruption:
- New-market Disruption: A product or service that offers lower overall performance but improved performance in simplicity and convenience. This type of disruption targets non-consuming customers who historically lacked the money or skill to buy and use the product.
For more on SimpliSafe, check out this article from BetaBoston: http://www.betaboston.com/news/2015/12/30/simplisafes-success-awakens-sleeping-giant/
Interested in learning about New-market Disruption and other theories from Professor Christensen? Disruptive Strategy will equip you with the tools, frameworks, and intuition to make a difference.