{"id":67421,"date":"2021-10-06T08:43:18","date_gmt":"2021-10-06T06:43:18","guid":{"rendered":"https:\/\/zenkit.com\/?p=67421"},"modified":"2023-07-20T14:33:36","modified_gmt":"2023-07-20T12:33:36","slug":"9-tips-to-build-and-launch-a-product-successfully","status":"publish","type":"post","link":"https:\/\/zenkit.com\/en\/blog\/9-tips-to-build-and-launch-a-product-successfully\/","title":{"rendered":"9 Tips to Build and Launch a Product Successfully"},"content":{"rendered":"

\"9<\/p>\n

Your product is the most significant part of your brand. When people try your product, they form an opinion about it and associate it with your company. So be it your first or ninth product, you need to ensure that your customers are completely satisfied with what it does.<\/span><\/p>\n

For startups, in particular, it is even more challenging because of the uncertainty of how long you are going to stay in the market. The potential customers, in this case, are afraid that their time and money will be wasted if you just disappear from the market.\u00a0<\/span><\/p>\n

Putting the fear aside, there is no shortage of startups that built a product and made millions out of it very soon. What these startups did is something you should note before you start developing a product.<\/span><\/p>\n

There are a lot of sources that you can use as inspiration, but it is not only the idea of the product that matters. It\u2019s about how you move forward and take care of the execution part. The execution part does not end once you\u2019ve finished developing the product either. In fact, it continues even after that.\u00a0<\/span><\/p>\n

Launching the product correctly is also as important as <\/span>developing a product<\/span><\/a>. Why? It\u2019s because if your launch fails and you’re not able to generate the required sales to keep your business running,\u00a0 then it doesn\u2019t matter how good your product is.<\/span><\/p>\n

So here, we have identified two of the major factors that determine if your business is going to be successful. These are the proper development of the product and the effective launch, which takes place after the development. This article consists of some tips on both these factors to bring the best out of your potential. Let\u2019s begin.<\/span><\/p>\n

\n

Tips to Build a Product Successfully<\/strong><\/h2>\n

If you are in a technical industry, you must have experienced the constant urge to perfect the project before handing it over to the customer. This is a great thought for your customers, but the problem with this is that you can run out of money without catering to the actual needs of the customers. This is where tons of companies go wrong.<\/span><\/p>\n

\"product<\/p>\n

Your customers can\u2019t wait a lifetime for you to give them what you\u2019re building. Here are some of the crucial ways to keep things on track for making a triumphant product.<\/span><\/p>\n

\n

Discover the Unmet Need Of Customers<\/strong><\/h3>\n

Irrespective of how much growth we see in the industry, customers always want something better – something that they have not got yet. If you are starting out in the industry, these unmet needs can give you a product idea or feature that can almost ensure that your product will be a success.<\/span><\/p>\n

In order to know what the unmet needs are, you can create some questions to interview your customers, whether existing or potential. You have to ensure that your questions tell you what the problem of your customers is.\u00a0<\/span><\/p>\n

More importantly, you need to carefully listen to what they say. By listening to their answers, you\u2019ll get to know more about the nature of their pain, which will allow you to come up with a product that a customer cannot deny purchasing.<\/span><\/p>\n

\n

Develop Hypothesis<\/strong><\/h3>\n

Now you have made some observations about what your customer\u2019s actual needs are and you know how to align yourself with them. The next step is to make intelligent guesses about the features that you could add to the product to make it accepted on a worldwide level. Moreover, you should work on figuring out what\u2019s the estimated number of users that would use the prototype with those features. When you know what the average customer adoption number is going to be, you get to decide how much you should actually invest in the product.<\/span><\/p>\n

\n

Define Your Product<\/strong><\/h3>\n

Since you have already interviewed people to find out their unmet needs, you have a clear picture of who your target audience is and what it is that they want. Now you just have to give them a reason to choose your product over the others available on the market.<\/span><\/p>\n

Here you should take tips from successful brands about how they define their product and values, and integrate them into the entire company. Sales, marketing, finance, public relations, and offers – everything works around how you\u2019ve defined your product. You have to dig deeper to find out what your company offers that no one else does. At the same time, you have to emphasize the qualities that make your product effective.<\/span><\/p>\n

When defining your product, associate it with a story so that the customer can emotionally connect with it.<\/span><\/p>\n

\n

Prototype the Solution<\/strong><\/h3>\n

Now you know what the features that your product can have are, it\u2019s time to move to the next step, and start <\/span>building a quick prototype<\/span><\/a> with those features. The first version is not meant to completely satisfy the customer; it is more for you than for them. It helps you identify the track on which you should move to minimize the gap between what a prototype does and what the actual product should do to convince the customers to buy it.<\/span><\/p>\n

\n

Proper Project Management<\/strong><\/h3>\n

To make the actual product, you have to go through the prototype. But deciding what the prototype should entail is also not a piece of cake. You have to keep many factors in mind while prioritizing the features of your product. In this case, when you are finding it difficult to decide what should be included, a prioritization framework can be of great help to you.<\/span><\/p>\n

A prioritization framework<\/a> consists of certain criteria that product teams of the company can use to rank features according to the business value in the order of priority. The framework allows you to minimize biases, avoid analysis paralysis, and more importantly, support decisions that are made strategically. Because it eliminates these biases, product management also becomes easier.\u00a0<\/span><\/p>\n

With the help of frameworks, communicating the priorities to the leaders and stakeholders also becomes relatively easy.<\/span><\/p>\n

The prioritization framework that you should choose depends on the nature of your product, the customers served, individual choices and the culture of the organization. Your product team has to pick the one that suits them best, and then apply it uniformly across the product. This takes us to the next part of the article. Here, we are going to share some tips that you can incorporate to successfully launch your product.<\/span><\/p>\n\r\n