HOW TO AVOID PRODUCT FAILURE
No product is designed with the intent to be a failure. And yet many fail. According to Nielsen, 85% of new products fail in the marketplace.
In order to build and launch a product that will be successful, you’ll need to get the details of your product aligned accurately with the needs of your customers.
This is something that I learned the hard way.
Early in my career, I was given the opportunity to lead a product development team assigned to create a new digital communication platform for accounting firms.
Our target users were auditors and tax consultants. Since we had worked with those types of people periodically, and thought we were pretty smart, we felt we knew what they needed.
We went into the project with some big ideas and quickly landed on a vision for the product that we loved. It was innovative, creative, and exciting.
The image of the user interface still brings a smile to my face as I write this; it was so cool. The team was devoted to the product and its potential.
We worked 18-hour days for months on our mission. I barely saw my wife during that time.
When I did, I told her passionately about the progress we were making and how awesome the product was going to be. In retrospect, I’m pretty sure she got tired of hearing about it.
Finally, the product launched! We were so excited to share it with the world. What happened?
In my Wall Street Journal bestselling book, WINNING DIGITAL CUSTOMERS: THE ANTIDOTE TO IRRELEVANCE, I talk extensively about a wide range of techniques you can use to ensure the products you create resonate with customers and win in the marketplace. You can click this link https://WinningDigitalCustomers.com to get the first chapter of the book for FREE.