Bringing a new WordPress product into the market

If you're trying to break into the WordPress ecosystem, and have been told that the space is too congested, or that all the good ideas are taken, my presentation corrects and informs.

Transcript

1. Bringing a WordPress Product into the Market @CHRISLEMA
2. 2 @CHRISLEMA New products costs a lot to make, with no guarantee of success.
3. 3 @CHRISLEMA And while not all of them will go up in flames, some will. Literally.
4. 4 @CHRISLEMA You might think that’s the worst that can happen. But no. Leakage. That’s worse.
5. 5 @CHRISLEMA People will tell you that it’s all about market research. TIME AWARENESS OF NEED Few people know they have a need. The need is obvious and multiple folks are working competitively.
6. 6 @CHRISLEMA What if we turn elsewhere for our new product development innovation?
7. 7 @CHRISLEMA Build a Different Product
8. 8 @CHRISLEMA Take two product attributes that have never been connected, and connect them. Connect the Dots
9. 9 @CHRISLEMA The Three Point Line
10. 10 @CHRISLEMA 30 Minutes or it’s Free!
11. 11 @CHRISLEMA Simplify your product by using the features of other products that are nearby. Leverage What’s Nearby
12. 12 @CHRISLEMA That’s how we got these.
13. 13 @CHRISLEMA Take two products found in regular proximity, and create a new combined product. Connect What’s Nearby
14. 14 @CHRISLEMA Who needs cables?
15. 15 @CHRISLEMA Existing products are fantastic sources of insight for new product development.
16. 16 @CHRISLEMA Use a Different Business Model
17. 17 @CHRISLEMA Beyond the product definition, you can make other changes. Change the customer segment. Change the offer and pricing. Change the distribution model. Change the architecture.
18. 18 @CHRISLEMA Change Segment
19. 19 @CHRISLEMA Change Offer & Pricing
20. 20 @CHRISLEMA Change Distribution
21. 21 @CHRISLEMA Change Architecture
22. 22 @CHRISLEMA Improve Your Marketing
23. 23 @CHRISLEMA Core needs- why you buy groceries. Improvements- why you pay for counseling. Pain reduction- why you pay the doctor. Risk reduction- why you buy car insurance. Goal acceleration- why you buy books. Long-term savings- why you join Costco. Larger payouts- why you invest in stocks. Entertainment- why you to go the movies. Experiences- why you go on vacation. Remember why people pay for stuff
24. 24 @CHRISLEMA Be very clear who you are selling to. “Everyone” isn’t an answer.
25. 25 @CHRISLEMA Be clear what motivation you’re selling to. Selling to a developer is often just goal acceleration (less value).
26. 26 @CHRISLEMA Your product and its features are a small part of the decision criteria. Tell a better story.
27. 27 @CHRISLEMA Help your customers “Cross the Bridge.”
28. 28 @CHRISLEMA Chris Lema VP of Products Liquid Web @CHRISLEMA