At the core of any successful company is usually a great product. Behind a great product sits a great strategy and a great team of people that can execute on that strategy (among many other things). However, a great product (or service for that matter) is only a great product for so long. Eventually you will need to update, upgrade, or redo a product to stay up to date with current technologies and current customer demands, Apple is a great example of this. Take a look at at virtually any product you can think of all of them are:
- offering 20% more
- have essential special vitamins and minerals
- can burn a cd 15% faster than before
- store up to 50 more gigs of information
- are now offered in 100 different colors
The problem with a lot of these things is that they focus on marketing and not on the actual product itself.
Some organizations understand this and others don’t.
Marketing a product or service ONLY makes sense if the product or service you have is great.
Throwing more money at marketing or sales (or anything else for that matter) does not compensate for having a great product. As an organization if you see that your marketing spend is going up or staying the same while your customer satisfaction or sales are staying flat, then maybe you should re-visit the core of what you are offering before you keep pushing it out onto the world.
Social media (and the internet in general) is one very effective and powerful way to get direct customer information on a product or service at an effective resource spend (time and money). Think about all of the data or information that is gathered online through blogs, forums, twitter messages, facebook groups, linkedin questions/answers, articles, etc.
- Why has the brand of hand soap that I use not changed anything about their product?
- Why do PC manufacturers still keep sticking demo and garbage products on their machines?
- Why does…(stick product here)
So let me ask you, why; with all of the data and the information that we have in the world – are most of our products still staying the same?