For creative individuals, thinking of ideas for new products and solutions is the easy part. It’s actually turning those ideas into reality and marketing them to customers that’s the challenge.
As many as 95% of products fail, and some that are popular fade into obscurity faster than expected thanks to poor design, inept marketing and other crucial factors.
So, if you want to turn your idea into a unique and successful product, then you need to think about more than just how it works.
Whether you want to launch a digital solution or a physical item, you need to think about how you’re going to build and share your ideas with the world.
Here are some of the factors you need to consider and the ways that you can transform any idea into a radical new product that remains popular for many years to come.
Refine Your Idea
To begin, you need to take your initial idea and work out how it would benefit potential customers. While your first solution might have been useful, there could be changes you could make that would improve it and make it stand out from the rest.
As such, you should take the time to review and refine your idea so that you have the best possible chance of making it a success when you take it to market. Explore a range of options and test them out to see which ones will work and come up with a plan for how you’re going to pitch the idea to potential investors, stakeholders, industry partners and, of course, potential customers.
Find The Right Industry Partners
When you first launch your product, you need to remember that you can’t do everything in-house. You’ll need support with everything from marketing to production, particularly if you’re also starting a business through which you want to sell the product.
So, you need to find the right industry partners with the experience you need to drive your solution to success. Try to find service providers with experience taking product ideas and turning them into reality. For example, Intrface specialises in Design Sprints. This innovative process takes your idea and turns it into a finished digital product in just 4 days, making it an efficient way to get your product to market fast.
Plan The Perfect Marketing Campaign
It’s not enough to have a good product; you also need to show your potential customers and product users how it could benefit them. Without a strong and relatable marketing campaign, your product won’t get off the ground and be accepted by consumers.
Therefore, it’s crucial that you take the time to create a well-thought-out marketing strategy that appeals to your target market. To do this, you’ll need to conduct market and competitor research and then apply this to your content creation and deployment processes. This strategy will help you to improve your chances of succeeding the first time around with your new product.
Keep Adapting And Evolving
Initial product success is something to be proud of, but you need to keep adapting if you want to build on it. You need to adapt your product for different markets and to adjust it for any future developments in your market and among your target customer base.
So, you should create a thorough product adaptation strategy and make sure that you’re flexible. This approach will allow you to extend the lifespan of your product and help it to appeal to a wider array of customers.
Having a new product idea is just the beginning of an exciting business adventure. Use these tips to help get your product off to the best possible start in life.