Product strategy for a young technology company
You spend a lot of time talking to your customers. Of course you do. But if you analyse those conversations they fall into one of a few common categories “selling”, “telling” or “fixing”. It’s rare to have an open conversation with a customer about the market and about the future. It’s rarer still to openly ask your customers for help in developing your product or your company strategy. If you do ask customers it’s amazing what they will tell you.
This is the story of one company that did just that…
A young Swedish company had built an exciting breakthrough product which used microwave technology to do in 10 seconds what could take 10 hours.
The company wondered why the product wasn’t more successful – and so did we!
We interviewed the working scientists who used this device and who were universally enthusiastic about it, based on the interviews we mapped their buying behaviours and ways of working. They told us very clearly that what they needed was a personal instrument in their workspace, with a target price within their individual budget.
After a radical redesign the re-launched product has gone from strength to strength on laboratory benches across the world.
“It’s like having twenty customers in the room as we develop our strategy” CEO