登录查看更多内容

What do you do if your new product or service is not gaining traction in the market?

由人工智能和领英社区提供技术支持

Launching a new product or service can be an exciting venture, but what happens when it doesn't quite catch on as expected? Gaining traction in the market is crucial for success, and when your offering falls flat, it's time to take a strategic look at what's going wrong. Understanding your target audience, evaluating your marketing efforts, and possibly rethinking your product's fit in the market are just some of the steps you can take to turn things around. Remember, persistence and adaptability are key in the face of such challenges. Let's explore how you can breathe new life into your product or service and secure its place in the competitive market landscape.

此文章中的业界达人

由社区从 7 条内容中精选。了解更多

Tuby Varghese

Ideation | Strategy | Marketing | Sales | CX

1 Assess Demand

When your product isn't gaining traction, the first step is to reassess market demand. Start by conducting customer surveys and focus groups to gather feedback. This will help you understand whether the issue lies with the product itself or if it's a matter of poor market fit. Listen to your potential customers and be open to the possibility that your product may need adjustments. Sometimes, a slight pivot or feature enhancement can make all the difference in meeting the needs and desires of your target audience.

添加您的观点

Philippe Collard

Business samurai | General Manager, Rezoway USA
举报内容
Ask all the prospects who said "no" the reason for their decision. That is usually very instructive. Also assess macro economic trends and shifts in markets.

已翻译

赞
Alfredo Craddock Schmidt

Marketing - Trade Marketing - Innovación - Ecommerce - Fidelización
举报内容
En mi experiencia, en categorías que requieren asesoría de venta, partir por casa es importante. Como es en la industria tecnológica y otras más. Aquellas en las que los consumidores requieren productos, pero no poseen alto conocimiento técnico sobre estos. Entendiendo esto, las fuerzas de venta, promotores, embajadores, mundo digital son una fuente directa para entender la percepción y valoración de los productos/servicios. Los consumidores se relacionan así con las marcas. Partir desde adentro a veces ayuda a establecer diagnósticos sobre lo que podemos trabajar en el corto plazo, y que en su mayoría dependen de solo de estas mismas

已翻译

赞

2 Refine Marketing

If market demand is confirmed but results are still lackluster, it's time to scrutinize your marketing strategy. Evaluate if your message is clear and resonating with your target audience. Perhaps your branding is not effectively communicating the value of your product, or your marketing channels are not reaching the right people. Consider experimenting with different marketing tactics, such as social media campaigns, influencer partnerships, or content marketing to increase visibility and engagement.

添加您的观点

3 Optimize Pricing

Pricing can make or break a product's success in the market. If your offering isn't gaining traction, analyze your pricing strategy. Compare your prices with competitors and ensure that they reflect the value you're providing. Sometimes, adjusting your price point or offering promotional discounts can stimulate interest and sales. Remember, the goal is to find a balance where customers feel they are getting their money's worth while you maintain a healthy profit margin.

添加您的观点

Philippe Collard

Business samurai | General Manager, Rezoway USA
举报内容
Make sure the value you deliver is understood in economics terms with respect to pricing. I am never in favor of discounts. Rather, I ask the customer if, given a set price, he has something to offer in addition to $$ to complement its purchase at a given price point.

已翻译

赞

4 Enhance Product

It's possible that your product needs refinement to better appeal to customers. Use the feedback collected to identify any shortcomings or desired features that may be missing. Enhancing your product to align more closely with customer needs can be a game-changer. Whether it's improving functionality, design, or user experience, small tweaks or additional features can significantly increase your product's market appeal.

添加您的观点

Philippe Collard

Business samurai | General Manager, Rezoway USA
举报内容
This can be a slippery slop and you'll never be able to satisfy ALL customers. Rather do an audit of "why people are really using my products". They will provide the real message you need to convey. Of course, products always need improvements and if something is missing, you will know very quickly.

已翻译

赞

5 Foster Relationships

Building strong relationships with customers is essential for gaining traction. Engage with your audience through various platforms, offering excellent customer service and support. Create a community around your product where customers can share experiences and provide feedback. Word of mouth is a powerful marketing tool, and satisfied customers can become your biggest advocates, helping to spread the word and attract new users.

添加您的观点

Tuby Varghese

Ideation | Strategy | Marketing | Sales | CX
(已编辑)
举报内容
Building trust will be the catalyst for relationship building. If you gain trust it will give customers the confidence to try your existing and new products. Rolling out extended returns, extended warranty, money back promises etc will remove the customers psychological barrier of 'what if things go wrong'. When your product is just launched there is no reviews/testimonies regarding it. This is where you have to get it right, your 'initial phase customer experience' will actually create a substantial impact on the remaining phases of the product life. During the first phase, Take all shots, Make it right, fix it, take ownership and do your ultimate best in customer satisfaction.

已翻译

赞

6 Pivot Strategy

If all else fails, consider a more significant pivot in your strategy. This could mean rebranding, targeting a different market segment, or even overhauling the product. A pivot should not be taken lightly, as it requires substantial resources and effort, but it can be necessary for survival in the market. Stay flexible and willing to make tough decisions if it means setting your product up for long-term success.

添加您的观点

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

添加您的观点

Philippe Collard

Business samurai | General Manager, Rezoway USA
举报内容
Major shits in market behavior or needs. Take vinyl records versus CD versus streaming. It did not happen overnight but all the signs were clear.

已翻译

赞
Christina Allrich

Executive Director. Project Management. Strategic Planning. Lifelong Learner.
举报内容
Maintain a positive attitude and model resilience, and perseverance in the face of setbacks, recognizing that building traction in the market often requires time, experimentation, and adaptation.

已翻译

赞

Management

+ 关注

给文章评分

我们借助人工智能创建了此文章。您认为这篇文章怎么样？

很棒不太好

举报此文章

查看全部

What do you do if your new product or service is not gaining traction in the market?

1

2

3

4

5

6

7

1 Assess Demand

2 Refine Marketing

3 Optimize Pricing

4 Enhance Product

5 Foster Relationships

6 Pivot Strategy

7 Here’s what else to consider

Management

给文章评分

感谢您的反馈

更多Management相关文章

更多相关阅读内容

What do you do if your new product or service is not gaining traction in the market?

1

2

3

4

5

6

7

1 Assess Demand

2 Refine Marketing

3 Optimize Pricing

4 Enhance Product

5 Foster Relationships

6 Pivot Strategy

7 Here’s what else to consider

Management

给文章评分

感谢您的反馈

查看其他技能