Bringing a new WordPress product into the market

282d599b414022eba5096510f675b6e2?s=47 chrislema
November 07, 2017

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.

282d599b414022eba5096510f675b6e2?s=128

chrislema

November 07, 2017
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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