Apologies on the overly dramatic, “please-read-me!” title. I figured I’d jump into the pool with the rest of the bloggers attempting to get the attention of the 1.6 billion of you bouncing around the virtual world.
Anyhow, you’re probably familiar with the phrase, “whatever stops growing eventually dies”. And, while I don’t subscribe to this black & white, morbid declaration, we all know that when it comes to your business, growth is essential.
So in the spirit of doing my little part to help get our economy back on its feet, I’ve decided to write a series of brief articles about different growth drivers (tools, frameworks) you can use to grow your products & your business, and perhaps even add a few inches to your height. So let’s get started…
Growth driver #1: develop different versions of your product to suit different usage scenarios
Take mustard. Yes, mustard.
You’re at a baseball game with some friends. Perhaps you’ve enjoyed a few beers. You head out to one of the fine stadium restrooms to reduce your inner-bladder pressure, and you decide to pick up a hotdog on your way back to your seat. Guldens, right? The perfect neon-yellow goo to spread on your ‘dog. No questions asked. Right place, right time. Guldens all the way.
Flash forward 2 months. You find yourself at a very formal cocktail party. Pinkies out, fancy degrees flying about, drinks you would otherwise never drink, people doing their best to inject British-inflexions. You make your way over to the hors d'oeuvre table and sample a selection of finely smoked meats. Grey Poupon, anyone? Again, no questions asked. Right place, right time. It’s a Grey Poupon moment.
(sorry, I just couldn't help but include the most classic Grey Poupon commercial ever produced. enjoy!)
Let's put aside the mustard and put growth driver #1 to work for you:
1. Make a list of the different situations in which your product or service is used (or needed).
2. For each scenario you’ve identified, jot down those characteristics or dimensions that make it different from the other scenarios on your list. Characteristics could include the physical environment, the people you’re with, your main objective at the time you use the product, your main reason for needing the product, the time of year, the activity you’re engaged in at the time you need the product, etc.
3. For each scenario ask yourself what changes you could make to your service in order to provide greater value to your customers given the unique characteristics of the situation.
Examples could include adding complementary services, increasing or decreasing the performance level of certain features or dimensions, adding or eliminating certain features, making changes to physical dimensions of the product, etc. Whatever you come up with, it should be dictated by the unique needs of your customer under the given scenario.
Real-world examples of growth driver #1. Different versions of the product for different usage occasions.
- Candles: For romantic dinners, for keeping the bugs away when camping, for festive holidays, for scenting the air, for birthdays.
- Travel insurance: For safaris, for ski trips, for family vacations, for cruises, for long-stay trips, for international trips.
- Suits: For hot climates, for formal events, for casual events, for outdoor events, for weddings, for funerals.
Happy growing!
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Additional posts that discuss growth strategies:
- Innoviation via other worlds: a tool for generating powerful ideas for your business
- Enhance your innovation by tapping your product's value-creation web
Great books that discuss scenario-based product innovation:
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