Thousands of dollars and years of your life down the drain. Don’t let your next product launch go to waste.
As a product manager, your job is to launch new goods and services and all-but guarantee their success in the market. Collabo XD has helped organizations do just that for more than 10 years.
Below, you’ll learn what mistakes product managers commonly make and the one secret all successful launches use.
Avoid these 3 product launch mistakes
- Don’t build out the entire product before going to market. Test your minimum viable product with your customers. Take their feedback and add necessary features as you go.
- Don’t pursue the whole market right away. Go narrow and niche first. Be your primary customers’ godsent. Then (and only then) expand your strategy to capture relevant markets.
- Don’t focus on a fringe issue. Spend your limited resources on the most pressing problem your customers need solved. The core concern. Example: Foldable cell phones? Who asked for that?!
Your new product isn’t about you. It’s all about your customers.
They’re in charge. Meaning they decide which problems are most pressing and how much they’re willing to pay to solve them.
Most go-to-market issues boil down to not knowing your ideal customer well enough. So how do you solve it? Simple.
Do this 1 thing to guarantee a successful product launch
Listen to your customers.
Google Glass. New Coke. Google+. (Oof Google)
It doesn’t have to be complex or time-sucking. You don’t even have to spend any money. Literally sit down with a customer and ask about their life. You could ask:
- What is most important to you in life?
- Do you prioritize quality, cost or convenience?
- What problem causes you the most frustration?
- How would your life change if that problem were solved?
- How much would you be willing to pay to solve that problem?
- At scale, they’ll give you the answers you need to find a problem worth solving.
Then, take that information to inform your product strategy. Are you solving their most important problems? The ones causing them the most pain? Because they’re likely willing to spend the most on this solution too.
For example, run a Listening Program to continually monitor your customers’ experience with you. Collabo XD helps organizations create and manage open feedback loops with their customers instead of running an annual survey.
This way, you always know what’s top of mind and what problems cause the most pain. Giving you the confidence to launch new products that solve those problems.
With decades of experience in customer journey mapping and service design, Collabo XD helps companies launch successful products. Want to chat with us?