"Building a Sustainable and Impactful Product: Insights and Strategies"

Glasp

Hatched by Glasp

Aug 17, 2023

3 min read

0

"Building a Sustainable and Impactful Product: Insights and Strategies"

Introduction:

In the fast-paced world of product development, success is often measured by revenue and valuation. However, this narrow focus on financial gains can lead to a lack of sustainability and impact. In this article, we will explore 30 insightful strategies and ideas that can help improve the operation of a product, focusing on creating value and making a positive change.

1. Understanding User Behavior and Habits:

One common thread among successful products is the ability to retain users over time. By analyzing user behavior and identifying their habits, companies can create strategies to increase user engagement and retention. For example, the app "mikan" found that users who consistently used the app at the same time and place, such as during bath time or while commuting, were more likely to continue using it. By understanding this pattern, they were able to improve their push notification strategy, resulting in a 40% increase in user retention.

2. Leveraging Long-term Subscription Plans:

Introducing long-term subscription plans can significantly boost monthly revenue. "mikan" experienced a 2.5x increase in monthly revenue by adding long-term plans to their subscription options. This approach not only provides users with a sense of commitment but also ensures a stable income stream for the product.

3. Harnessing the Power of User Feedback and Communities:

User feedback is invaluable for product improvement and growth. By actively listening to users and incorporating their suggestions, companies can build a loyal community and attract new users. Platforms like "Pococha" and "Spoon" have successfully leveraged user feedback and turned it into advertising, resulting in a significant increase in user acquisition.

4. Personalization and Targeted Content Delivery:

Delivering content that resonates with users on a personal level is crucial for product success. Companies like "Radiotalk" have adopted a content categorization system based on three axes: trends, people, and emotions. By tailoring content based on these categories, they were able to provide users with a personalized experience, leading to improved engagement and retention.

5. Pricing Strategies and Value Perception:

The perceived value of a product often determines its pricing potential. "MOSH" discovered that users were willing to pay more for specialized expertise rather than just brand recognition. By emphasizing their expertise and offering a unique value proposition, they were able to command higher prices and attract a target audience willing to invest in their product.

6. Centralizing Support Channels:

Managing customer support can be a challenging task, especially when dealing with multiple channels. "MOSH" found success in centralizing their support channels using "LINE@" and "Notion," streamlining the support process and improving customer satisfaction.

Conclusion:

Building a sustainable and impactful product requires a shift in focus from short-term gains to long-term value creation. By understanding user behavior, harnessing the power of user feedback, personalizing content delivery, and adopting effective pricing and support strategies, companies can improve their product's performance and make a meaningful impact on their users. Remember, success is not solely defined by financial metrics but also by the ability to improve the well-being of users and create positive change.

Actionable Advice:

  • 1. Conduct user research to understand their habits and behaviors, and tailor your product and marketing strategies accordingly.
  • 2. Leverage user feedback to continuously improve your product and build a loyal community around it.
  • 3. Focus on creating personalized, valuable content and pricing strategies that resonate with your target audience.

Hatch New Ideas with Glasp AI 🐣

Glasp AI allows you to hatch new ideas based on your curated content. Let's curate and create with Glasp AI :)