Is Your New Product Primed for Success?
October 18, 2019
Why “Good” Product Launch/Enhancements May Fail and How to Avoid it
Consumer product launches frequently fail to resonate with consumers. The UK’s costly open banking initiative was an example of an unsuccessful initial product launch in the financial services industry. People just didn’t want to change their banking routines.
However, there’s good news. Failure is avoidable, and if you can understand why product launches fail, there’s a good chance you won’t end up in the same situation. By asking the right questions and gathering the right information, you can create products and enhancements that customers want. We have compiled 6 key barriers to product launch success and how to avoid them in our latest infographic.
6 Barriers to Product Launch
- Product in search of a customer – identify the customer need.
- The product that is difficult use.
- Poor prospect identification – missing key data from across other departments.
- Unclear picture of what success looks like.
- Staff not adequately prepared.
- Operations aren’t ready to support the launch
The best products are a result of the best planning. Working with you, we can identify your key success factors or barriers, then put in place a clear-cut strategy to help you achieve your goals. Bridgeforce has the real experience and expertise to help you set your vision and achieve real results. See more about our services here.