Design Thinking Starts with Defining Product Concept (A Series on Making the Most out of New Ideas)
Developing new digital products is a huge
investment that can generate a worthwhile return. The fact remains, however,
that a large number of new digital initiatives fail at market.
While failure is sometimes due to poor execution, it’s more often the result of not investing enough time and effort up front to fully define, test and refine the product concept.
Design thinkers know that there is so much more to product development than writing code and slapping on some flashy visuals. If you really want to make the most of your investment, you’ll give due diligence to these three crucial activities:
● Identifying revenue potential
● Early user research
● Product concept testing
Dive deep into the product definition phase through this three-part article series.
Don’t settle for a surface-level idea. Optimize your digital product concept for the highest possible return.
Stretch and transform your concept beyond features that simply automate insignificant tasks, and instead focus your concept around empowering key business drivers.
Ask yourself: In what ways could a digitally innovative tool enable hyper growth or unlock new revenue streams for your business?
Get creative. The products that solve core business problems are the ones that disrupt industries. If it’s not addressing a high-stakes problem in your business, it’s not worth developing.
Take time to examine your product concept for opportunities to capitalize on disruptive potential in three key ways:
1. Enable Untapped Data
2. Decentralize Assets
3. Inherent Social Sharing & Feedback
>> Read the full article and discover how to capitalize on disruptive potential in your digital product.
Don’t even think about developing a new digital product without first conducting user research.
Through practical, cost-effective methods, user research allows teams to achieve three milestones in the product definition phase:
● Define user personas, the evolving profiles of target users
● Collect data about relevant user needs, desires and behaviors from surveys and on-site research
● Identify an initial product-need definition and value proposition that can be tested and refined
>> Read the full article and access free templates for creating user personas in Sketch or Keynote as well as the e-book, “How to Create User Personas for Digital Products.”
Testing your product concept is critical to ensuring ROI. By testing your concept early on through usability tests and interactive prototypes, you’ll discover blind spots in user experience and product strategy before it’s too late.
Testing is a discovery process. Through testing you’ll uncover new data about the “what” and “why” of your product.
Read the full article to discover:
● The role of testing in product strategy development
● 3 guidelines for developing innovative product strategy
● How to leverage interactive digital prototypes for effective tests
● A checklist for conducting effective product tests with real people