Tirrell Payton explains why the best product managers delete more features than they add.
The product was falling under its own weight. It was bloated and didn’t really solve a key problem for the customer. I talked to the lead product manager about some of the issues with the product, and he relayed that the previous product manager pushed the team to add these features. He was looking for the “one magical feature” that would make the product take off and make him the hero. Unfortunately, this approach of “Throw stuff at the wall and see what sticks” is an incredibly poor way to manage a product. In reality, product managers should deleting more features than they add.
Most features are never used
You can probably think of a common software product you use, and the percentage of its features you use. Most of us, even power users, use only a small subset of the features of a product. The Standish Group reports that “only about 20% of a software product’s features are used ‘Always or Often.'” This means that 80% of the features in the product are never touched. However those features still need to be supported by the company, debugged by the teams, and pumped up by marketing. Unfortunately, its the natural state of inertia that as a product is on the market longer, it becomes more and more “feature rich.” If these features don’t add any value to the user, then they are wasteful.
Key points include:
- Effective product management
Creating simple and elegant products
Read the full article, Why The Best Product Managers Delete More Features Than They Add, on LinkedIn.
Shelli Baltman shares a post from her company blog that showcases innovative products in food and packaging.
Kate Summers, Innovation Associate at The Idea Suite, highlights some innovative products that were due to be showcased at this year’s Natural Products Expo West.
If you’re passionate about innovation, as we are at The Idea Suite, then you’ve most likely experienced waiting with bated breath for a certain event in your calendar each year: The Natural Products Expo West in Anaheim, California. An annual gathering of thousands of up-and-coming and established vendors in the natural product space, along with tens of thousands of industry attendees, Expo West has long been an invaluable space in which to uncover emerging trends in food, beverage, health and beauty. With attendance also offering a fantastic opportunity to connect with clients and peers in a truly inspirational setting, the show has become a much-anticipated and beloved tradition since we first opened our doors as an agency.
Unfortunately, this year’s Natural Products Expo West event was initially postponed and then recently cancelled, due to the developing circumstances around the COVID-19 virus. By way of response, we made an open call to vendors affected by the cancellation of NPEX through our LinkedIn page, to give them a chance to showcase their new products in this blog.
Innovative products include:
Read the full article, Natural Products Expo West: A Closer Look At Some Of This Year’s Breakthrough Innovation, on theideasuite.com.
Cheryl Lim Tam provides a post that explains the benefits of Tundra and highlights a few companies that are using the platform to sell their products.
Ever wonder what happened to that innovative company you once saw on ABC’s hit show Shark Tank? There’s a good chance it landed a deal, invested in more inventory to meet rising demand, and then went on to set up its wholesale storefront on Tundra.
Tundra is rapidly becoming the number one wholesale destination for the best brands, and that includes successful Shark Tank alums. After all, these savvy entrepreneurs know a good business opportunity when they see it. According to Regan Kelaher and Shannon Zappala, founders of Goverre (Shark Tank season 8), ‘Tundra is fantastic because it helps us reach retailers that we couldn’t reach through other traditional sales channels. There are no fees, and they make the whole process seamless, from processing orders to receiving payments.’
Retailers browsing on Tundra can bring a whole range of ‘As Seen on Shark Tank’ products to their store — from kid-friendly tableware to innovative gadgets that make everyone’s life easier. Here are seven successful Shark Tank brands you can find on Tundra today.
Read the full post, 7 brands that went from the Shark Tank to Tundra, on Medium.
Luca Ottinetti’s company blog shares case studies that reveal how Intel and SpaceX successfully launched new products, and what went wrong with Nokia and Swissair’s business model innovations.
Entering a new market with new products that target new customers requires a new business model. It is a powerful strategic initiative that changes the rules of competition. It also represents a challenge with odds of success at roughly 30%, but ultimately – when done right – it rewards winners with huge returns.
Managers need to know what they’re in for if they decide to pursue this path of business growth. The challenge in entering a new market through a successful business model innovation (BMI) consists of getting two elements right:
(1) the pursuit of attractive market opportunities, and
(2) ownership of the strategic control points in the industry to protect profit streams.
We look at cases of success and failure by companies that have entered new markets with new business model designs to illustrate the determinants of success.
Included in this article:
- Two case studies on successful business model innovation
- Two case studies on failed business model innovation
Read the full article, Market Entry through New Business Model Design, on the Great Prairie Group website.
Robbie Baxter explains why companies need to prioritize their mission over their products to take advantage of new technologies and services and build a new kind of relationship with today’s–and tomorrow’s–members.
As association leaders, many of you are Membership Pioneers. Membership is something you probably have been thinking about for years. But in the last 10 years, membership has reinvented nearly every industry. Companies like LinkedIn, Amazon and Salesforce have created forever transactions of their own with their customers by using many of the tactics that are core to the deep relationships trade groups, professional societies and other not-for-profit associations have been building for decades.
But they’re using new tactics–streaming content, frictionless checkout, recommendation engines, artificial intelligence–to create dramatically improved experiences. As a result, consumer expectations about what membership means have changed. And the drivers of this new perception are not coming from other associations, they’re coming from Silicon Valley tech.
Maybe this is a good thing though. In times of great change, there are big winners, and big losers.
So what can your organization do to be one of the winners?
Points covered include:
-Product market fit
-Taking advantage of new technologies and services
-Prioritizing your mission over your products
Read the full article, Memberships Are Changing and What it Means for Your Association, on LinkedIn.
Jonathan Paisner identifies the cause of tension between corporate marketing and brand marketing, and how you can bridge the divide with a brand messaging format that communicates company vision and value for the end consumer.
B2B companies experience an ongoing tension between corporate marketing and product marketing – because their goals aren’t completely alignedFor corporate marketing, the brand is built upon a big idea that aims to capture the promise of the organization at a macro level. In technology and tech-enabled markets, this big idea can be pretty grand (think IBM’s Smarter Planet). For the organization as a whole, this big idea helps to bring different pieces of the company together behind a common purpose and perspective.
Read the full article, Bridging the Gap between Corporate Marketing and Product Marketing, on the Brand Experienced Group website.