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 is
usually a mediocre fit for most.
The Solution: Prioritize your product investments on
the customer types most conducive to revenue/market share growth and deliver
closed loop solutions that have the most significant impact on their top or
bottom 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 context
in which they're used (WHAT are customers doing? WHY are they doing
it? HOW should it be done?).
The Solution: Get out of the building more often and learn the
business of your customers. Make their business part of your
culture. Ask WHY as it relates to everything and you'll build
fewer 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 sales
and marketing effectiveness. If the dots aren't connected, your value
propositions will be laced with product features and fluffy benefit statements
that mean nothing to your buyers. Connect the dots well and your value
propositions 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 buyers
pay for them.
If your products aren't living up to their potential, enroll
in one of our training programs or
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to see how the ZIGZAG framework can turn your products into
overachievers.
Programs to Improve Performance of Your Products
1-Day Quick Study
Requirements
That Drive the Value Chain
Learn an outcome-based requirements framework that establishes a clear line of
sight between market needs and product features to deliver higher impact
solutions that command a higher price point. The bonus: our framework and
deliverables are designed to improve clarity of requirements on the front end
while also achieving greater proficiency in marketing, sales, services and
support on the back end. It's the market's easiest and most practical
approach to requirements. We guarantee it.
2-Day Comprehensive Program
Product
Management University
Learn an outcome-based product management framework for determining the market
segments most conducive to growing the company as a whole, creating a strategy
to penetrate those markets then delivering the best mix of products, marketing
messages and sales tools to execute the strategy.
All ZIGZAG training takes place in a conference room setting
with high student-instructor interaction that allows you to apply our framework
to your individual circumstances right there in the classroom so you can begin
using what you've learned immediately and see quick results.
Unlike other frameworks, ZIGZAG's framework goes beyond
managing and marketing products. It ensures a consistent set of
priorities across marketing, sales and products and eliminates silos with
competing objectives that unnecessarily consume resources and ultimately
inhibit growth.
No one makes product management and product marketing easier
than ZIGZAG.
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