Bringing a new WordPress product into the market

Transcript

1. Bringing a WordPress
   Product into the Market
   @CHRISLEMA
   

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   @CHRISLEMA
   New products costs a lot to make,
   with no guarantee of success.
   

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   And while not all of them will go
   up in flames, some will. Literally.
   

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   You might think
   that’s the worst
   that can happen.
   But no. Leakage.
   That’s worse.
   

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   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.
   

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   What if we turn
   elsewhere for
   our new product
   development
   innovation?
   

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   Build a Different Product
   

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   Take two product attributes
   that have never been connected,
   and connect them.
   Connect the Dots
   

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   The Three Point Line
   

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    30 Minutes or it’s Free!
    

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    Simplify your product by using
    the features of other products
    that are nearby.
    Leverage What’s Nearby
    

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    That’s how we got these.
    

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    Take two products found in
    regular proximity, and create
    a new combined product.
    Connect What’s Nearby
    

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    Who needs cables?
    

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    Existing products are fantastic
    sources of insight for new
    product development.
    

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    Use a Different Business Model
    

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    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.
    

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    Change Segment
    

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    Change Offer & Pricing
    

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    Change Distribution
    

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    Change Architecture
    

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    Improve Your Marketing
    

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    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
    

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    Be very clear who you are
    selling to. “Everyone” isn’t
    an answer.
    

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    Be clear what motivation
    you’re selling to. Selling to a
    developer is often just goal
    acceleration (less value).
    

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    Your product and its features
    are a small part of the decision
    criteria. Tell a better story.
    

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    Help your customers
    “Cross the Bridge.”
    

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    @CHRISLEMA
    Chris Lema
    VP of Products
    Liquid Web
    @CHRISLEMA
    

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