A product is a tangible substance that is manufactured to satisfy a need. A product can be physical or service offered to the customers. The success of any business depends on the product. Product improvement is making changes to the existing product and adding new features so as to satisfy consumer needs and increase product quality. It is very important to make changes in your product or service in order to meet market demand and consumer needs. If you want to know the reason for improving product and maintaining quality of the product, then click on the below link:
In this blog, we are going to understand different strategies to improve your products.
Improving the product
It is very important to improve your product in order to meet market demand. Before improving your existing product, the main aspect you should consider is customer feedback as they are the ultimate users and can help you to understand about the product if you take customer feedback properly, then you will exactly understand how to improve your product.
A. Wingman Strategy
The first strategy to improve the product is Wingman strategy
Who is a wingman?
A wingman is a person who is a very good friend of your customer. Hire a wingman. Generally, your satisfied customers may recommend your products or services to their friends and family members. You can get feedback about your product from your new customer through this wingman (here wingman is your old customer).You can get feedback from the new customer as well as from the person who referred your product.
We will be able to understand the issues of your products that the new customer encountered and make improvements as he might not like our product or service. In this case, we got a wingman, not the same person but his friend
Find a proper wingman of your customer who your customer believes. Take your customer’s feedback from the wingman. He will be able to explain the changes that your new customer requires in your product or service.
So, the first strategy is the wingman strategy which is very important.
Dividing customers for the growth of the company is prevailing from a long time as it helps to understand the market and buying behavior of our target audience. The below link gives an idea of customer segmentation and its uses
Apart from the customer segmentation, we can also divide consumers into the below mentioned simple groups for the improvement of the product.
2. Dividing Customers
The second strategy is if you have a customer support unit or call center, then divide customers into categories. An example of making a category would be like customer support will receive calls from customers regarding products, then make your customers into 2 categories, one category is where you receive calls from customers regarding complains and the second category would be query or doubt
If you divide your customers into these 2 categories, complain and query
Complain can be- you have to make online payments and it is taking more time in processing, then it will be a complaint.
If the website is showing error or domain error or server is down or if it is an e-commerce company, the products may not be delivered on time or faulty delivery; all the above comes under the complaint category. Queries are basically doubts like what is the process of doing? They are doubts and we have to explain the doubts very well and make the customers understand, as the improvement of our product will depend on how well we explain to the customer. We have to resolve complaints. There are many methods to explain queries. Explain through any physical desk or make a youtube video or explain over the phone. You can do these things for query and resolve complain and improve your product.
So resolve complain and explain the query.
You give services with your product and if there are any queries and complains customer support can inform you about the issues of your products. So make category based on the calls you receive.
If you want to know about a case study that achieved great success just by understanding customer’s needs, then click on this link of One Plus success.
3. Find Intelligent Customers
The third strategy is to find intelligent customers. Divide your customers into 2 to 3 categories and intelligent customers are very important. We generally do not get intelligent customers but we have to search for them.
The intelligent customer gives a very good response, speaks well and is very intelligent and friendly.
Try to be friendly with them. You should get close to the intelligent customer and take feedback from him. He is going to give you some amazing feedback and you can give him a reward as well.
People who generally use our products will be very smart and intelligent. We should take advantage of interaction with them and understand their psyche and get feedback about our products.
They will definitely identify a few changes to implement which will make your products better.
So getting close to the intelligent customer is very important.
B. Repeatedly using your product
The repetitive use of your product is very important. We tend to forget to use our own product that we generally need to do is whenever we make a new product or service, we have to use it repeatedly to understand and know how to improve our product. Use your product and distribute free samples to your friends or vendors. You can give at discounted prices or give 50% off on our products to your employees to use. Self-experience always gives a scope of improvement and if you behave as an end-user, you will be able to propose improvements and give better feedback about product and its usage basically repeated use makes our product reach the next level.
C. Third is step by step comparison with our competitor or leader.
If we do step by step comparison with your leader, then we will know exactly what the aspects that we are missing in our product. You should always compare with similar products in your sector or elite products of the same category. You can even use the products/components of your competitors and include them if you are missing any features.
This will definitely give you a better idea of product improvement.
Make a step by step analysis of your competitors.
The below link provides you the reasons for doing competitors analysis and also guides simple ways to compare competitors products
One more interesting activity which will help you in improving the product is
D. Learn from domain experts
Who is a domain expert?
He is a person who worked on it and is an expert. There are many domain experts. If you take an example for training and motivational speaking Blair Singer is a domain expert in this field. If you want to be an exceptional trainer or a great speaker, then take annual membership of his programs he will teach you on how you can improve your training and presentation. You can follow him and excel in your field.
Find your domain expert in your sector and ask him to teach you how to make your product better.
An expert and a motivational speaker who changed the life of many people and helped them to experience a shift in the life of many people is Mr. Tony Robbins. To know the secrets about his success and hard work, click on the below link.
It is difficult to find a domain expert or a mentor but if you search and approach him to teach or train and you can also pay for the knowledge as there is no use of free knowledge. You can apply the knowledge in your life and get results only when you pay for it. A mentor or an expert will definitely help you in bringing creative ideas in the improvement of the product as he would have more experience in your sector when compared with you.
All the above points will definitely help you in the improvement of your product or service. You will always have a better market share by making changes as per customer requirements. There are many live case studies that will explain the importance of market research. One such example is the success story of FOGG that earned exceptional profits during the first year of the launch which is provided below
The goal of any business is to get the customers engaged with your product and brand. Customers these days expect companies to make new and better products. Unfortunately most of the companies that hit market fail immediately as they don’t meet the customer’s expectations. If they are satisfied then they will rely on you. And, definitely, product improvement and innovation should be an ongoing process to keep the customers engaged. Follow the tips given in the blog to improve your product and increase your market share.