When bringing a new product to market, it is vital for decision-makers to sift through the noise and focus in on what brings the most value to the product. Unfortunately, those in product development often tend to correlate added value with added features, so they try to include as many features as possible - thus overcomplicating the product.
Consider this - how many consumers or end-users of your product would deem it “complicated”? We live in an era where it can take hours to set up a new computer, our children’s new toy has Bluetooth connectivity, and even new toasters come with manuals and LCD displays. Today, many products are so loaded with features that they can seem complicated to the consumer - and even worse, too expensive to produce.
Myth: The more features we put into a product, the more consumers will want it.
Before you start thinking that your product needs to be overly simplified, keep in mind that innovative technologies are incredibly important in today’s world. But, at the same time, so is simplicity.
Take Apple, for example. The Apple iPhone is elegantly simple in terms of product design, but the software and capabilities inside are actually quite complex. This is the perfect example of not overcomplicating a product yet still delivering the appropriate amount of features (and value).
So how can you add value to your product without overcomplicating it? Here are three steps to consider:
1) Create a list of all the desired features
This often combines the expertise of those in marketing, product design, and product development. Bring that product team together and write down all of the features the different teams are recommending or requesting to be included with your product. Keep in mind that this is different than your original product brainstorm where you came up with the initial idea for prototype - you don’t want to include every single idea here, just the realistic ones.
Once you’ve made this list, you should prioritize it by assigning value to each of those features. What does the consumer or end user find valuable? What problems is your product solving?
Sort this list in terms of value, and move onto the next step.
2) Determine what to include
These are the deal breakers. Look at the list you created and focus in on those top value features. Which of those are truly vital to the success or functionality of this product? If you are the Marketing Director, which features on this list do consumers care most about?
For those in charge of finding a contract manufacturer for this product, which features offer the most value at an affordable cost?
Highlight the must-have features that make your product what it is.
3) Determine what to omit
Which features can you safely remove from this product (without alienating consumers)?
Product development teams often assume that the product is finished when they deem more features can be added. It has been completely stuffed full of useful features. In all actuality, you should approach product development from the opposite side of things, and recognize that products are finished when no more features need to be eliminated.
Cross of the features that clutter this product and focus on the truly important aspects - this keeps your product simple.
What’s next?
When you have a finished product with optimized value, the next step is to find the right contract manufacturer for your product. This process typically involves taking in many RFPs (requests for proposal) to determine who is the best for you. To help streamline this process, download our RFP evaluation guide below so you know what to look for in a contract manufacturer.
