Maybe you’ve heard that there’s nothing new under the sun. That may or may not be true but it will depend on you and your creative juices.
In order to find new ideas for products that your customers will love, you don’t have to reinvent the wheel – just discover unique ways to make it roll better. Here are five ways that will assist with product generation for your business.
Digital is Where it’s At
Technology has propelled not only personal growth but business growth into the stratosphere. The earth has gotten that much smaller because of it.
Just think – without the Internet, your business wouldn’t have the potential to reach millions who otherwise might not have heard of the great things you have to offer. The clincher however is that even though technology has brought potential customers closer, the key is still using business and marketing savvy to give them what they want.
5 Things you can do to Create New Product Ideas
Is your business a storefront? Are you exclusively online? It doesn’t matter. Digital product can work in your business model.
1. Jot down your ideas – This is always going to be a first step. Get everything out of your head and in a space where you and others of your business team can analyze, pick apart and reassemble not only your offerings but also theirs in order to come up with a workable list of products to present to your target market. Include any burning interests and avenues that you are passionate about. Someone’s thoughts could spinoff into a secondary business.
2. Poll your customers – Take a look at the current subscriber and customer base. How do they like your products? What more would they like to see? Poll the customers online, on your business blog and in the store. Put those email addresses and mobile numbers to good use. Set up an online survey that can be accessed through email and text. Use discounts as incentive for completion.
3. Turn physical products into digital ones – Find a way to translate one or more of your physical products into a digital offering. For example, look at eBooks. They allow people to take their favorite volumes everywhere without carrying a single book. How can you streamline a product or a service using digital media?
4. Look to your competition - Find other businesses within your niche market and examine what they are doing to promote a thriving business. Zero in on what their audience likes most about their product and see how their feedback can be applied to your customers.
5. Use social media – We’ve discussed surveys but what about a contest. Use your audience as a crowdsourcing tool. An example: Set up a Pinterest board where customers can create pins reflecting what they would like to see as your “next big idea.” When it comes to creativity, use as many avenues as you can to aid the brainstorming process.