Building A Consumer-centric Digital Product: An Entrepreneur’s Handbook

No matter what digital product you are planning to launch, ensuring its customer-centricity is crucial. The aim should always be solving a problem in the customers’ lives in the most effective way possible. No wonder, 58% of experts, who participated in research conducted by Econsultancy, believe that being customer-centric is the key to becoming a successful digital leader in the digitally-native culture.

You could be launching a new online course, a software, a Saas product, an ebook, informational products, videos, photographs, or any other digital product, if it is unable to offer what the customer wants, it won’t make it big in the digitally-competitive marketplace.

If you are also planning to turn any of your ideas into a digital product, here is a handbook that will help you make it more customer-centric.

What’s A Digital Product?

A digital product is an intangible asset that you plan to sell and seek returns from. Such a product does not have any type of physical presence and can be sold in the form of software, product, ebook, photographs, videos, audios, courses, and much more. Entrepreneurs are looking forward to selling digital products as they require much less investment in terms of raw material or per unit costing and are much easier to scale. A single digital product can be sold across multiple digital platforms.

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The world is undergoing a digital revolution that is compelling each business to transform and adopt modern technologies in its operations, processes, services, products, or any other offerings. A typical customer journey revolves around technology – from knowing about the product through social media to researching it on the website and finally purchasing it via eCommerce portals, most customers today make major buying decisions online. And this digitally conscious customer is even eyeing a digital product that resonates well with its digital footprints.

Why Do You Need A Consumer-centric Product?

By building a customer-centric digital product, you are keeping the customer at the center of each decision that you make as an entrepreneur. This means you are questioning how the customer would be affected by each decision you take for the product. And when we talk about building a digital product, this means taking every step of the product development process by keeping in mind the customer’s expectations and response to it.

1. To Keep Their Customers Happy

The key reason why companies should offer a customer-centric product is to keep their customers happy. Anyone, who receives what they need, is sure to be more satisfied and happier. On the contrary, if you focus on the business aspect of things and neglect the customers’ wishes, you are sure to fail at making the customers happy.

2. To Boost Conversions

A person who can see the entire product experience resonating with what they expected the product to be will likely be more inclined to use it. A customer-centric product ensures that the customer gets what he wants and expects, hence increasing the chances of their conversion.

3. To Retain More Clients

Customers who are satisfied with the digital product tend to stay loyal to the brand instead of exploring more options. Not only can you attract new customers with your product but also retain the existing ones and turn them into brand loyal by creating a customer-centric digital product.

4. To Outperform In Market

Any customer would incline towards a brand that is delivering what they want. And brands know this. Brands that are offering a customer-centric experience in their digital products achieve a competitive edge.

5. To Entice Digitally-Conscious Customers

Today’s customers are digitally conscious and need a customized experience that is personalized to meet their buying behavior, patterns, and activities. A digital product has the capability to be infused with edge technologies and offers an unmatched experience.

Strategic Ways To Building A Consumer-centric Product

Now that we know the need to build a customer-centric product, every entrepreneur would look forward to knowing the various ways that they can incorporate to build one. Let’s hear about some strategic ways that brands can take to build a consumer-centric digital product.

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1. Validate The Product Idea

Every entrepreneur should start by validating the product idea that they are planning to build. Any new product without a market need would end up among the 90% failed startups. So, make sure to perform in-depth market research for your new digital product idea.

This can be done by researching the target audience, holding surveys, and analyzing the competitor. Entrepreneurs can even ask their social media followers to share their insights about the product idea to make it more consumer-centric.

2. Ask The Target Customer

What better way to know what the customer wants than asking them right away. There can be different ways to elicit the customer’s expectations or requirements. One can consider preparing polls, getting their response via mails, or even by getting them to test different types of products.

3. Take The MVP Approach

Many startups have succeeded by taking the MVP development approach where they launch a prototype of the product first, get beta testers and early adopters to test it, and share their feedback. This approach can be extremely helpful to businesses that are starting out. It lets them start with a smaller investment, mitigates the majority of the risks associated with the product, saves costs, and even helps with growing as per the customer feedback.

4. Build The Dream Team

There needs to be a lot of teamwork when it comes to building a  consumer-centric digital product. Every department, team member, and the team should work together to achieve the goal of building a customer-centric product. Also, the team should be proactive in giving their inputs. Their different perspectives could help you craft a better digital product for the customers.

5. Capture Feedback & Implement

When it comes to going consumer-centric, there can be no strategic way more effective than collecting consumer feedback and implementing the same. Create a digital tool that lets you track the analytics in terms of active users, churn rate, engagement rate, average revenue per user, customer acquisition cost, and much more to know what the customers feel about the prototype and pivot accordingly.

6. Work On Digital Customer Experience

A digital product is only as good as the digital customer experience that it offers. It is imperative that the digital product not only offers an omnichannel experience but also personalizes it at each touchpoint in the customer journey. The onus lies on the entrepreneur or the product owner to create a product that resonates well and matches the expectations of the new-age, modern, digitally-conscious customer.

7. Keep Tweaking

The next effective way that entrepreneurs can make their product more customer-centric is by constantly updating it. No product can be perfect in one go. Take a look at the examples of Uber, Airbnb, Spotify, Facebook, and other startups. They are continuously updating and tweaking their product to launch new versions that incorporate customer feedback.

Building a digital product is a strategic move in itself. If implemented right, any unique startup product idea can be converted into a unicorn. And one of the key factors on which the success of any new product depends is how well it is able to resonate with the customers and meet their expectations.

By building a customer-centric product, one can be sure to deliver the best product that meets and exceeds the customer’s expectations. Make sure to follow the above-mentioned strategic ways to build one and incorporate them in your product development approach to build and launch a successful digital product.

About The Author

Tanya Kumari leads the Digital Marketing & Content for Classic Informatics, a global web and custom software development company. She is an avid reader, music lover and a technology enthusiast who likes to be up to date with all the latest advancements happening in the techno world. When she is not working on her latest article on tech dynamics, you can find her by the coffee machine, briefing co-workers on the perks of living a healthy lifestyle and how to achieve it

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