Discovery Phase: Step #1 for Creating Innovative Products

Your product is ready. But sales aren’t taking off as you expected.

This is a sign you might have missed the discovery phase and jumped too quickly to the scaling phase.

In such a scenario, the business tried everything:

They built a sales team. They spent their marketing budget in advertising. They hired consultants. They spoke at conferences. They reached out to all their contacts. But still the market doesn’t buy it…

Here’s the common mistake:

Trying to scale too fast… If you’re wrong about what people want, they may try your product once, but don’t count on keeping them as loyal customers.

Lazy Market Research: Never Ask These 3 Questions

lazy-market-research

“What do our customers really want?” That’s what you want to find out.

But are you asking the right questions?

Some questions should never be asked. Never.

1. Do you think this is a good idea?

2. Would you buy this?

3. How much would you pay for this?

Why Are These Questions Bad Market Research?

There are many reasons asking these questions won’t help you:

  1. Future & Conditional: Your customers can’t predict in the abstract if they will buy a new product, in the future

Narrative Product Development: Why Storytelling Helps You Design Better Products

Writing stories help create great products.

This is the reason why Codecademy uses storytelling to improve its learning platform.

Stories allow you to make sure your new product or new feature fits your customers’ lives.

The Complexity of Customer Experience

Working with customer stories forces you to think about the whole story, not just a single moment.

The whole story encompasses the elements of customer experience, including Context, Trigger, In-store Experience, Online Experience, User Experience, Post-Purchase Experience, Word-of-mouth, Repeat

But we often think about customer experience through single moments. We focus on only one specific element because customer experience is too complex to model.

Culture Marketing: Is Your Brand A Native Speaker?

“The brands that succeed are those that understand how to give a consistent picture of their story on different channels. They’re native speakers(Guerric).

So, let’s appropriately apply the local slang, incorporate local traditions, get the endorsement from a local band, not try to sell meat to Indian vegetarians, not try to advertise something to Hasidic Jews via television…

culture-marketing

Capitalize in Context

“Culture contains many things – empathy, purpose, ‘cool’ – that are hard to quantify, won’t fit into strategic plans, or don’t easily scale. But culture is where you find context and opportunities for engagement and business growth.”

Read more by Rob Fields, Marketing Director, Association of National Advertisers.

Two Things You Must Focus on When You Develop New Products

developing-new-products

In an established company or at a startup, you have to go through a similar process when you’re in charge of developing a new product. [1]

You need to focus on the essence of marketing:

  1. Talking to customers and learning from their behaviour (Doing market research);
  2. Building a great product (Creating something remarkable to sell to your market). [2]

Before sales take off, you’re in the discovery phase.

Your priority is to hit product/market fit; you have to build a great product for the right market.

Product Character: The Most Overlooked Element of User Experience

Fred Potter, Netatmo CEO and speaker at Alcimed’s 2016 company kick-off, conveyed to us the need to engage our clients in emotional investment, which supports financial investment:  Guerric’s How To Change Behavior with Design speaks about product ability to change consumer behavior;  today we explore how past customer experiences mold product character.

At the end of this post, ATT 2.1 includes a book feature, which highlights the importance of triggers, emotion, stories, tying together customer experience, product design, and the way we communicate them to each other.

User Behavior: How to Drive Engagement with Design

User Behavior: A Model to Design for Behavior Change

Technology forges and reinforces human behavior.

  • We walk and run with earphones without paying attention to what’s happening around us;
  • We often check social media on our smartphones, even when we’re with friends;
  • We travel across the globe to stay in the bedroom of someone we’ve never met before;
  • We take tons of pictures of ourselves and send them to our friends and even strangers.

These types of behavior may have looked crazy to our ancestors, yet even they shared similar motivations. Humans have always liked listening to music, connecting with one-another, traveling to new places, and showing off.

Non-lazy Market Research: Designer Myopia, Co-design, and Multiplicity

Guerric’s Lazy Market Research tells us not to make customers do our job, so I’m shedding equal light on what can be the detrimental bias toward our own ideas, designs, and industries. As we’re always about balance at BoostCompanies, today’s post:

1. Introduces designer myopia in architecture as something that can be translated to caution all designers in all industries not to forget our end-users;

2. Proposes co-design as a “non-lazy” customer insight method;

3. Reminds us to be robust in our approaches.

melville

Shout out to my fellow St Andreans who found this out of place in our fair Bubble

Megatrends: The World Will Go On Without You

You now need to mix commercial analysis, design, and experimentation to make your idea real, remarkable, and profitable. 

Drawn to Guerric’s quote above from his brainstorming article, training for my new position at Alcimed further inspired me to write about megatrends.

megatrends

One Alcimed Project Manager described megatrends as influential things that will occur in a large scale throughout the world independent of your vision, your issues, your company: things that would still happen even if you didn’t exist. An example from the past is electrification, and an example from today and the future is digitization and automation.

Pricing Strategy for SaaS: A Smarter Alternative to Freemium?

A decisive challenge when you sell SaaS solutions is to generate leads. Your sales team need as many qualified leads as possible. They don’t want to waste their time with visitors who will never buy. Designing the right pricing strategy can have a large impact on that.

Freemium is a popular pricing strategy to attract potential customers. Users can start using your product for free with some limitation. The company then expects that the ‘freemium’ customers will use the product more and more and start buying a premium plan.