The Power of Functions: From Small Features to Successful Companies

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Jul 08, 2023
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The Power of Functions: From Small Features to Successful Companies
In the world of business and product development, even the largest companies started with small functions. It is through these small, yet powerful, features that companies can grow and evolve. Understanding the difference between functions, products, and companies is crucial for entrepreneurs and product managers to strategically introduce new features.
What sets a function apart from a mere feature is its ability to align with user behavior and consciousness within a product. Successful entrepreneurs and product managers are able to clearly explain this sequence and strategically introduce functions that resonate with users. On the other hand, functions that are not utilized or valued by users should be eliminated.
Major platforms such as Google and Facebook also began with functions. These functions were the building blocks that eventually led to the creation of their successful products and companies. By starting small and focusing on creating the best possible functions, these companies were able to establish themselves as industry leaders.
Understanding the Four Evaluations of Consumers: The Importance of Fans
Consumers evaluate a product or brand in four stages, making it essential to cultivate a loyal fan base. Simply relying on short-term influencer campaigns may not yield significant results. The four stages of evaluation are as follows:
- 1. Concept: At this stage, consumers have not yet purchased or experienced the product. The power of the concept lies in its ability to create a desire and make consumers want to buy.
- 2. Performance: After purchasing and using the product, consumers evaluate its performance. If the product exceeds their expectations and makes them want to repurchase, it demonstrates strong performance.
- 3. TMOT (Total Moment of Truth): The brand experience for customers is not limited to a single interaction or purchase. TMOT represents the ongoing brand experience that is continually updated and overwritten with each use of the product.
- 4. ZMOT (Zero Moment of Truth): This is where the influence of fans and user-generated content comes into play. Fans share their experiences and opinions, which accumulate and contribute to the ZMOT. There are two types of ZMOT: stimulus-driven ZMOT, where content flows in a continuous stream, and review-driven ZMOT, where feedback is accumulated as stock. Fan influencers play a crucial role in both types of ZMOT.
Connecting the Dots: Functions, Products, and the Consumer Journey
When we connect the concepts of functions and the four stages of consumer evaluation, we can see a natural progression. Functions serve as the foundation for a product. A well-designed function with a strong concept can stimulate trial purchases and attract new customers. Once customers have experienced the product and find its performance satisfying, they are more likely to become repeat customers.
The TMOT represents the ongoing relationship between the brand and its customers. Each interaction with the product updates and enhances the brand experience. Fans, as influencers, become instrumental in shaping the ZMOT. Their organic user-generated content amplifies the brand's presence and accumulates as valuable feedback.
Actionable Advice for Entrepreneurs and Product Managers
- 1. Start with a Strong Concept: Prioritize the development of functions that have a compelling concept. These functions should create a desire and make potential customers want to try the product.
- 2. Focus on Performance: Once customers have made their initial purchase, ensure that the product's performance exceeds their expectations. This will increase the likelihood of repeat purchases and foster brand loyalty.
- 3. Cultivate Fan Influencers: Engage with your fan base and encourage them to share their experiences and opinions. Their organic content can significantly impact the ZMOT and contribute to the brand's growth.
In conclusion, understanding the power of functions and their connection to the consumer journey is crucial for the success of any company. Starting with small, yet impactful, functions allows companies to gradually build their products and establish themselves in the market. By prioritizing a strong concept, focusing on performance, and nurturing fan influencers, entrepreneurs and product managers can strategically position their products and create a loyal customer base.
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