You just released what you thought was a killer product to market. Then what happens after you launch the product is nothing.
Your killer product isn't selling, and you can't figure out why that is. I've been where you've been, and help you analyze what's likely wrong and what you should do about it in this short video.
Read The Video Transcript Below:
Let's say that your company has what you believe is a great product. You put it out to market, and it's still not selling. Why is that? Why isn't your great product selling?
Well, let's go through the possibilities here of why. Now, the obvious one is you may have a great product, but maybe you chose the wrong market. That's the most obvious one, right? Great product, wrong market, wrong marketing. You got to fix the marketing.
What could be another possibility? Maybe you think you have a great product that has great features, but you've chosen the wrong features in the product. This happens more often than you'd believe. So there can be a couple different possibilities here. Wrong market. Product is good, but the features aren't good.
But the other reality is this, and this is probably the most likely reason why your great product isn't selling. And this is a real tough one.
If you especially came from a larger company and now entering the startup world, your a great product isn't great enough, and I learned this one the hard way. Our first products were really good, excellent products. They were better than what was in the marketplace, but they weren't good enough.
Now, why is that so important? Here's why. When you're just starting out and you put yourself in the shoes of your customers, why are customers going to buy from you when they can buy from another competitor a reasonably good product and they know that competitor is going to deliver, they're not going to be any issues. The quality's okay all down the line.
And the answer is they're not going to buy from you because your product isn't good enough. You have to overcome all of this inertia, all the common issues that customers have before they're willing to put their money on you because it's not enough to be better. You have to be 10 times better, a hundred times better than what's in the marketplace.
That's your goal. That's what you're shooting for here because if you're not, why am I as your customer gonna put myself at risk for you? The answer is you don't .
Remember that. It's not enough to be good. It's not enough to be better. You have to be significantly better in the startup game if you're going to win, I'm firstname.lastname@example.org have a great, great day.