One of your most important jobs in corporate digital marketing is ensuring the blood, sweat, and tears that go into new product development results in an impressive ROI. When you and your team fail to properly handle the product development process, it can result in a series of unfortunate events that won’t be as entertaining to experience as the popular book series.
To help you avoid these critical errors, consider the following common mistakes you and your marketing team can avoid during the product development process.
Ignoring market changes
As the head of digital marketing for businesses, one of your top priorities is to monitor changes that are happening in your product’s market. When you choose to ignore changes in market conditions, it can have detrimental consequences for the entire company.
Product development can take anywhere from nine months to two years for a quality product. For this reason, it makes sense to not want to start over or make any drastic changes. However, it’s essential to monitor the market throughout the development stage to efficiently make changes to your product. By making adjustments to your product as needed, you ensure your product stays relevant to the market.
The same goes for your overall marketing strategy, which may also change drastically from the time of the product’s conception to the time of its debut. As many as 72% of marketers reported in 2015 that relevant content creation was an effective SEO tactic, yet content creation alone will no longer yield the SEO or digital marketing results your product deserves in 2018.
What’s more, you’ll also want to keep an eye on the competition during your product’s development stage. This can actually be incredibly beneficial during this critical time. Any mistakes you may notice with a new product released by the competition can be fixed in the development of your own product, thereby putting your business a step ahead.
Rushing the development process
In corporate digital marketing, it makes sense to want to get your product out on the market as quickly as possible. However, rushing the development process can only hinder your business. Far too many startups and tech companies have rushed a product to market to satisfy investors, only to tank when their sub par product fails to deliver.
When you rush through the development process, you risk missing problems and meeting safety standards. As a result, your product may actually be more likely to fail when it hits the market.
Connected Culture is a NYC digital marketing agency designed to help save marketing directors like you from the whirlwind of content marketing, video marketing, SEO, and analytics. For more information on our digital marketing services and how we can help you bring your product to market, contact Connected Culture today.