Published on January 22nd, 2020 | by Sunit Nandi0
Proven ways to make your new product stand out
Countless new products hit the market daily and we all are confronted by a lot of advertisements right after turning the TV on late night. Millions of dollars are spent by businesses and companies on developing and launching new products but fewer of the products enjoy a long ledge life. According to the experts, one in ten products attains success in the market for generating revenues. Every business or company may not have lots of bucks for product promotion but there are certain principles and techniques that can be used in the production process and marketing campaigns for ultimate product success. Having a team building prototype products that consumers can try and analyze, is one of the proven ways to make a new product success.
Below we have gathered some proven ways to make your new product stand out for longer shelf life.
Tell a (True) Story About the Product
Keep one thing in your mind while developing new products that no one wants your product even people really don’t want any product but they want superlative solutions to their problems. Tell a true story about your product to let the target audience know what features and benefits your product offers and how it could be the right fit for their needs or problems. When you do so with a story that features a character and concentrated emotions, you are able to engage much more of the brain. By doing so, you will not be missing glaring opportunities for increased engagement
Proper observations of consumers need and your vision of the technology allows you to make educated guesses regarding probable product features for wide customer acceptance and ultimate product success. The numeric estimate of the number of users you think will give a try to your prototype designed with those features can help you plan things accordingly. Understanding customer engagement and interaction with your product is another best idea to make informed and productive product development and management decisions.
Build a Prototype Solution
After getting enough numbers and stats, you should create an inexpensive prototype of your product with those features. The very first version of your prototype will not meet the needs of customers but will give you a clear idea and understanding of what they exactly need from your side and how you can eliminate the gaps between what your prototype can do and what exactly your product needs to be able to do for your customers. It will help you a lot in understanding customer needs and trust-building.
Test with Customers
After developing a final prototype, give it to your customers and observe how they use and react.
Keep a proper track of each customer using the prototype and ask them what they like and what sort of changes they need in the actual product. The core purpose of this step is to learn and collect useful numbers and data that will either confirm hypotheses developed or not. The use of a reliable product success solution or tool can help you understand your customers’ engagement and interaction with your product to make fertile decisions and strategies for making a new product stand out.
Develop Your Competitive Gain
Develop and define your competitive advantage effectively in front of your customers. Give them more reasons for buying and trying your product than your competitors give. Let them know about the results and benefits they will enjoy by investing in your product and the things that they wouldn’t enjoy by purchasing the same product from your competitors. Concentrate on features and benefits that make your product better than the competitors.
Focus on Keeping Your Customer for Life
Customer success is directly linked to product success. So, try to keep your customers for life as once a customer is always a customer if you continue delivering them with value and quality. A successful sale shouldn’t be the end of your relationship with customers. Instead, try to build and maintain a strong and reliable relationship with them. It will build customer trust and add great value to your product. Make use of customer relationship management software and let them know about a new product launch so they can come to you again to buy something of value and quality.