As an entrepreneur or business owner, it is essential always to be attentive to the factors that contribute to the success of a product or service.
No matter how innovative the idea is, how excellent the marketing strategy, and how extraordinary the work team is, some factors can create a failure scenario for a new product.
These factors are the “urgency” of introducing a product to the market, lack of knowledge of the target audience, poor value proposition, and not implementing a good user experience that allows the customer to learn about the product.
Taking risks is essential in any entrepreneurship or established business. First of all, don’t wait for a “perfect” product.
It is necessary to take risks and test the product with the target audience to get feedback. Otherwise, the product will not satisfy any needs of the final users, nor will it add value to their life, and therefore it will not be commercially successful.
Two factors can lead the entrepreneur to launch a product out of season: the pressure and urgency of making it known due to the fatigue of working without objective results, and the need to start receiving income.
It is necessary to have an innovative product, a value proposition, and a good user experience. In addition, teamwork and the humility to listen and take advantage of each member’s ideas, creativity, and experience to improve the product are decisive. Thus, it is possible to optimize and obtain better results from the “funnels,” which are the life cycle of the relationship with the client.
In short, there are five keys to a successful product launch:
- Be clear about the value proposition – What need the product solves and what benefits the customer can expect.
- Knowing the audience – The direct and constant relationship with the audience allows understanding its context and determining the times of most significant impact for the product’s launch in its different phases.
- Develop a strategy – Determine the launch phases that allow making the necessary adjustments to the conversion funnels.
- Adopt a work methodology – Consistent work processes and delegated tasks strengthen teamwork and optimize production times.
- Promote user experience – Dedicate time for the customer to experience the benefits of your product.
Working with different cultural groups for over 30 years, creating strategies to develop new products, automating production processes, and training work teams, I can ensure the development and growth of an idea or enterprise. It is a heavy load, lightened when working as a team.
