- November 10, 2022
How Can a Business Iterate Upon Its Product Library?
We tend to see improvement as a measure of weighing something’s value, or potential, as better than what came before it. For instance, a barber just starting out might be relatively hesitant with their scissors, but ten years later, continual practice and experience leads them to view them as tools of a second nature.
Most people would agree, however, that improvement for the sake of improvement is not always a good thing. Sayings such as “don’t fix what hasn’t been broken” is a general saying that can be applied to many situations. For example – think of how supermarket’s often rotate their offered goods on new shelves. For them, they may have had advice to suggest this could increase the purchase of like items by 0.5% a year. For the regular consumers, this can be relatively annoying for a month while they get used to the new layout. Was it worth it? Perhaps. Would keeping things the same have been damaging? Unlikely.
For this reason, it’s important to only iterate when you need to, and when doing so will keep you relevant as a business. But how can a business iterate upon its product library? Let’s discuss that, below:
Sustainability is always a good direction to follow. Not only does it do a great deal of good, but is inherently marketable. You don’t have to come out with a brand new product, but if you alter your product, or even its packaging, to be more sustainable? Well, that seems like a new product, and it can certainly be launched with that kind of attitude. Perhaps switching where you source suppliers for its manufacture, or the practices you take to sell it, all of this can give you more wriggle room as you define how to move forward.
User experience and user interface design have become their own distinct job roles, the former tasked with improving every kind of intuitive interaction someone could have with your product, the latter designing the software or controls that manage it.
It’s good to consult with capable design firms, like TXI Digital, if you truly hope to innovate in these fields. However, you can bet that improving these will help your entire product or service library remain relevant as time goes on.
It’s all about how you deliver value to your consumers, and if you have to make an iteration that prevents or dilutes this, you can bet they’ll notice. For instance, less studs on a football shoe may help it become lighter, and perhaps easier to run with, but if not placed correctly the grip on a grassy pitch may suffer. Reinterpret the product within the parameters of preserving the value you offer, and measure what effect changes can have. Sometimes, a sacrifice is genuinely worthwhile for what you’re trying to achieve, but distinguishing that can sometimes be tough.
With this advice, you’re sure to see your business iterate on its product library in the best way. Taking that step shows boldness, which can be useful in all business enterprise.