Trying something new is a risk. Now imagine being the first one to try it. Higher risk! This is a major friction for any startup to acquire early users.
Though looking at some examples in the recent past it seems the returns are higher in being first cusomter than what an avg. late adopter customer gets. The first customer always gets talked about.
1. Cafe Coffee Day was the first to reward 4Square mayors in India. This created some significant buzz.
2. Barista was the first coffee shop to list on Freecharge. For a long-long time it was the only other option to McDonald’s coupons, directly impacting their top-line.
3. GE is the first sponsor of Quartz India. They were mentioned beyond this blog post.
4. Freecharge just become the first customer for Haptik. The buzz is going to go beyond this tweet.
— Haptik (@hellohaptik) August 19, 2014
There’s more to it. You get mentioned everytime the startup is mentioned. Your logo is seen on their site for testimonial for a long-long time. You get lower pricing. You get more attention and support. Your brand is perceived as “innovative”.
So next time a startup pitches you, don’t ask “who are your customers?”, just to feel comfortable that you will have company if something goes wrong. Just be entrepreneurial and sign up with them.
Go try something early!