Tips from the video are below.
Let the market decide through research:
- What is outcome our customer wants from our product? Where do they want to go with our product? Where do we want to take them? Brainstorm all the different ways in which we can deliver this outcome.
- Find out who is our customer – their demographics and psychographics. Which product would they most want to use now?
- What offerings are currently working in the marketplace for competing products?
- What existing ads, landing pages, copy and pricing is working for competing products?
- Where is our customer? Where do they hang out? How can you get in front of them? How do you market to them?
- What revenue/business models are working, which are not? What is winning mindshare?
How will the above change? Modeling what is already working might be a way to start, but we want to make sure we can stay relevant moving forward. So, we must have a plan for evolving our offering based on where the market is going.
I post what I see and do in consumer products. But I am just one person with my own perspective. I want your opinion and observations from your point of view. Please comment below so I and others can learn. Thank you!