Any number of factors can contribute to under-performing products, but the root causes are usually tied to a combination of the following three issues:
1. Vague Definition of Target Customers
When products try to be all things to all types of customers, the result isusually a mediocre fit for most.
The Solution: Prioritize your product investments onthe customer types most conducive to revenue/market share growth and deliverclosed loop solutions that have the most significant impact on their top orbottom line. You'll be rewarded with steady revenue increases.
2. Inadequate Definitions of WHAT, WHY & HOW
If your products have lots of features that are rarely used by most customers,you've probably delivered features without thoroughly understanding the contextin which they're used (WHAT are customers doing? WHY are they doingit? HOW should it be done?).
The Solution: Get out of the building more often and learn thebusiness of your customers. Make their business part of yourculture. Ask WHY as it relates to everything and you'll buildfewer features that have greater value to more customers.
3. Irrelevant Value Propositions
There's a one-to-one correlation between points 1 & 2 above and your salesand marketing effectiveness. If the dots aren't connected, your valuepropositions will be laced with product features and fluffy benefit statementsthat mean nothing to your buyers. Connect the dots well and your valuepropositions become very sticky.
The Solution: Define customer needs without regard to your products first,then add product specifications as the means for creating the solution. The reasons for building new products and features are the same reasons buyerspay for them.
If your products aren't living up to their potential, enrollin one of our training programs or
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to see how the ZIGZAG framework can turn your products intooverachievers.
Programs to Improve Performance of Your Products
1-Day Quick Study
RequirementsThat Drive the Value Chain
Learn an outcome-based requirements framework that establishes a clear line ofsight between market needs and product features to deliver higher impactsolutions that command a higher price point. The bonus: our framework anddeliverables are designed to improve clarity of requirements on the front endwhile also achieving greater proficiency in marketing, sales, services andsupport on the back end. It's the market's easiest and most practicalapproach to requirements. We guarantee it.
2-Day Comprehensive Program
Product Management University - Portfolio Management
Learn an outcome-based product management framework for determining the marketsegments most conducive to growing the company as a whole, creating a strategyto penetrate those markets then delivering the best mix of products, marketingmessages and sales tools to execute the strategy.
All ZIGZAG training takes place in a conference room settingwith high student-instructor interaction that allows you to apply our frameworkto your individual circumstances right there in the classroom so you can beginusing what you've learned immediately and see quick results.
Unlike other frameworks, ZIGZAG's framework goes beyondmanaging and marketing products. It ensures a consistent set ofpriorities across marketing, sales and products and eliminates silos withcompeting objectives that unnecessarily consume resources and ultimatelyinhibit growth.
No one makes product management and product marketing easierthan ZIGZAG.
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