Almost 70 percent of products fail even after undergoing the product development phase. Do you know what gets wrong there?

Only 30% of product development projects met success and the rest fail to thrive for a variety of reasons. The product development project has a lot to do with creativity, precision, and innovation, but there are also some basic steps one needs to take - 

Internal Hypothesis

The earliest step is your members’ presumption of the new product. They are centered around the existing user problem, why current solutions fail to solve the problem, and how the new product would blow away existing issues/bugs. This stage is vital since it involves analyzing and evaluating before it reaches the hand of users.

Everything starts with Research Data

All you have to do is adopt the correct technique to collect data and fully utilize the potential of the data, which is critical for business leaders and marketers. With its measurable impact, you will also have a good idea of what customers want and what is missing from the market. Adequate research is a determinant of success and also unless you do the proper research, it will be the first weakness of your project. 

Give your product a chance to sell itself 

Starting with freemium, users will see that product is worth a just try or purchase. Once they come to rely on the product that they are using, it is the time of converting a free trial into a paying customer. An obvious example - 100 participants and a maximum of 40 minutes - Zoom users can experience the product, invite others to try it out, or upgrade to a paid plan.

Not just that, actually it is a win/win situation - you can learn how your product interacts with the market requirement as research you did and consumers’ reactions during the trial period. These are the chances to fix and make it perfect. 

With these Sokorro’s techniques, you do not need to worry about failure again.