Combining new products with existing ones can be a powerful way to create value for your customers and differentiate your brand. But how do you do it effectively and strategically? In this article, you will learn some tips and techniques to help you innovate by combining products.
Combining products can help you solve multiple customer problems, create new use cases, or enhance existing features. For example, you can combine a camera and a phone to create a smartphone, or a toothbrush and a water flosser to create a dental hygiene device. By combining products, you can also leverage your existing assets, such as technology, skills, or customer base, and create synergies that increase your competitive advantage.
The SCAMPER technique is a popular and effective method for finding product combinations. SCAMPER stands for Substitute, Combine, Adapt, Modify, Put to another use, Eliminate, and Reverse. This set of questions encourages creative thinking by helping you change different aspects of your product or another product. For instance, you can ask yourself how you can substitute a part of your product with something else, combine it with another product or function, adapt it to a different environment or situation, modify the shape, size, color, or material of your product, put it to another use or market, eliminate a feature or component of your product, or reverse or rearrange the order or sequence of your product.
Once you have some product combination ideas, it's important to validate them before investing too much time and money in development. Validation requires testing your assumptions and hypotheses about customer needs, preferences, and behaviors. To do this, you can conduct customer interviews to get their feedback on your product combination concept. You can also send out surveys to a larger sample of your target market or build a prototype for them to try out. Additionally, experiments can be used to test different aspects of your product combination such as features, pricing, positioning, or marketing. Measure the results and compare them with your benchmarks or goals to ensure the success of your product combination.
Launching a product combination can be a daunting task, as you need to communicate the value and benefits of your new offering to your customers and stakeholders, while also being mindful of potential risks like cannibalization, complexity, or compatibility. To make the process easier, you should segment your market and identify the most attractive and profitable segments for your product combination. Educate your customers about the use cases, features, and benefits of your product combination by using different media and formats such as videos, blogs, podcasts, or webinars. Additionally, involve your internal and external stakeholders such as employees, partners, suppliers, or distributors in the launch process. Communicate your vision and goals to them, provide training and support, and solicit feedback and suggestions. Doing this will help build trust and alignment among your stakeholders while also leveraging their networks and influence.
Launching a product combination is just the first step in the innovation process. To ensure the success of your product combination, it’s important to monitor and improve it based on customer feedback and market data. To do this, you can leverage various tools and techniques such as customer reviews, analytics, and innovation loops. Reading customer reviews can help you identify strengths, weaknesses, opportunities, and threats. Analytics can track key performance indicators (KPIs) like sales, revenue, retention, and satisfaction. Additionally, innovation loops involve generating, testing, and implementing new ideas for your product combination. With these tips and techniques, you can find success with your product combinations and reach your innovation goals.