Launch your product like a pro by following these 8 steps!

It takes several steps to turn an idea into a concrete product. As your concept adapts to the market needs, the result may be completely different from what you initially thought out. Product development can be a waste of time and resources without thorough planning. Thus, most professionals recommend adhering to the following steps:

1. Idea development

So you’ve already discovered a niche for your product. Good for you! But what if you don’t have an exact concept? The “social listening” method can come in handy: do some online research about what people are interested in, and what complaints they have about existing products!

2. Idea screening

Time to weed out useless ideas. Come up with a checklist (or download an online template for one), then examine your ideas one by one: are they technically feasible? Would it be the right time to market them? Which one meets all the criteria?

3. Concept testing

Truth is, 8 out of 10 products never achieve the success that designers dreamed of. Disappointment can be prevented during concept development and testing, as well as by asking experts to weigh in. Marketing also has to be addressed from the beginning, otherwise, you might find you don’t have the resources required for a successful campaign.

4. Market research

Even if you have an accurate plan, you need an overview of the market and your product’s position in it. It’s vital to identify your competitors as well as your target audience. Do not create a buyer persona, build it based on real people instead! Surveys and focus groups can help to understand what makes them tick.

5. Prototyping and development

At this stage, you can come up with the minimum viable product (MVP), which you can already pitch to investors, even if it’s far from the final version. Next comes the rapid prototype: a simple, low-cost prototype for which you gather feedback from your audience, then crack on with development. This process can save you a lot of time, and also protects you from wasting your resources.

6. Market testing

Don’t skip this step just because you’ve had successful campaigns in the past! Consider the following: will your message make people excited? Will it properly represent your product? Is your ad eye-catching? Are your USP-s clear enough? And so on.

7. Commercial introduction

People are bombarded with plenty of stimuli, so it’s hard to get their attention with anything. The bottom line: make your CTA stand out! Whether offline or online, you must make the purchase of your product immediately available, or else people will forget about it.

8. Review and refine

In retrospect, consider what worked well during the development and the campaign, and what would have worked even better. Also, keep track of how successful your marketing strategy is, and fine-tune it if necessary.