Why New Products Fail
If your product fails to sell then your product differentiation
and your positioning of the product are very weak.
I'll tell you right now. There's nothing worse than sinking 6 or
12 months into creating a product that no one wants to buy. I've
done it before. And it stinks. It 100% stinks.
If you are not going to take the time to do proper research to
ensure that your product is positioned well in the minds of your
target market you are just plain and simple going to fail.
Unless you really get lucky!
Most people are in such a big hurry to get their product out to
the marketplace that they don’t even stop to think about it
making sense to their targeted market.
I mean you have a great product that makes total sense to you
that you just spent a ton of time creating. Why wouldn’t it make
sense to the person that show up? Why won’t they see the same
thing you see?
It is pretty simple. It is not positioned in the right place for
their mind to see the same thing you are seeing.
Let me show you what I mean as an example.
I had a student who made a great product. She did her research
and figured out that most of the people were failing because
they did not have the right mindset going into the coaching
course they were taking.
Well this was very clear and evident to both her and my-self.
She had no problem whatsoever convincing me that the product she
was about to create was both a great product and much needed.
One problem with the way she was going to go about doing this.
She wanted it to be her entry level and main product.
Well this may be OK if she can get it in front of people that
already know they have a bad mindset that needs changed.
But the audience she was going after were not these people. The
audience she had felt there was nothing wrong with the mindset
they had. They just wanted her to coach them, and help them make
a bunch of money. They felt like they had a good mindset and
were motivated and ready to go.
So by her putting this product as the entry level product into
her program it was not making any sense to her students. She
needed to find the best place to position it in her program
where it would make sense.
What about into her product funnel where the majority of her
students started trying to figure out why they were failing,
when the majority were ready to give up and quit.
Now would be a great time to say, “hey let me show you something
about yourself that will shed some light on the problems you are
facing right now at this point of the game.
Now her students would be more willing to listen to her when she
started talking about changing the way they were thinking to
keep moving forward.
A good way to go about positioning your products is to think in
reverse… instead of starting with yourself, you should start
with the mind of your customer.
To Your Success!