Product Strategy Mistakes

Common Product Strategy Mistakes with Major Consequences

Not all digital products become successful. Many websites, mobile applications, and other types of digital solutions fail and

Not all digital products become successful. Many websites, mobile applications, and other types of digital solutions fail and are forgotten every year due to a number of reasons. It doesn’t matter if the app maker has the right ideas in place. If the app doesn’t reach the target audience the way it’s supposed to, it will run out of steam. This is why it’s important to devise and execute ideal product strategies that increase the likelihood of the app’s success.

Stuffing the application with features

Developers are often instructed to prioritize building creative features into the app. This way the team can ensure high functionality of the application but that’s about as far as they can get. While the development team prioritizes performance, end-users only need to know how an app helps them and what benefits they get from that app. A feature-rich app won’t cut it if it doesn’t provide value to the target market.

At every step of the app’s design, the value of each of its features should be clear. Everything about the app should add more value to it, which ultimately benefits the end users or at least make things more convenient for them.

Not assessing the competition

Many companies invest in developing applications simply because their competition has one. Apart from this, they generally don’t know more about what the competition is doing with their apps. Making an app simply because other similar businesses have one, could end up as a product strategy mistake with horrible consequences.

Before building an app, the company should know its place in its niche which in turn requires them to have a great understanding about their competition. This should help the company figure out how they are different, the kind of problems they can solve, and what they can do that their competition can’t.

Thinking successful launch and successful product are the same

When companies prioritize timely product launch over everything else, it can brew up trouble down the road. Product launch is something that should be done only after ensuring that a product promotion and marketing strategy is in place. There are companies that make the mistake of launching the product early for faster market penetration at the expense of product quality.

A viable product that delivers value to the company’s customers should be the first priority. Not a publicized premium launch of a half-baked product. The influx of negative reviews will eventually kill the product almost as soon as its launch. The company will lose their credibility as well which is difficult to recover from.

Prioritizing client requests

Even with the flexibility of an Agile development ecosystem, it’s not always wise to take action based on frequent requests from the client. This may be the first app development venture for the client. But their genuine desire to build something that’d be of value to users may come down as requests to the development team.

Prioritizing these requests may drive the project off course. Just because the team can complete a certain request doesn’t mean they should always comply. The project outcome is more important.

Endnote

At AOT, we understand the importance of an effective product strategy which is why we have veteran strategists in product market analysis and project management. We ensure that the digital solutions we build are flawless after brainstorming and implementing feasible product strategies.

Interested to learn more? Get in touch with us.

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