Modify or Enhance Your Product

The end of one year and the beginning of another provide an excellent opportunity to reevaluate your product or service. People expect change during these seasons. You also have a brief time to contemplate and ponder possible enhancements.

I am not suggesting that you implement all the changes at once. You may begin the process now and complete it later in the year.

Research What Changes You Want to Make

You want to ensure the changes you make will enhance the desirability of your product or service. You want people to buy it. The following actions can help you make the best decisions possible.

• Take time to think through what you want to do
• Make a list of enhancements as ideas come to you (I hope you started the list earlier)
• Research on the Internet, especially in users groups or client comments, for ideas
• Contact your best clients and ask them what changes they suggest for you to make
• Review your competitor’s product or service to see what changes they are making

You may also want to introduce a new product or service In addition to enhancing your current product or service. You can use the same steps that you used to consider changes to introduce new products.

You may need to create a prototype of the product you want to change or introduce. Consider where you want to manufacture or outsource the production. Work with local, state, or national economic development organizations to find production and fulfillment organizations.

Modify Your Marketing Plan to Account for Changes

Once you determine the changes or enhancements you will make, you modify your marketing plan. I suggest that you use the structure of the 7 Pillars of Successful Marketing to guide your marketing enhancements:

1. Conduct the market research on the product (which we already discussed above)
2. Determine the right message for your new or improved product or service
3. Develop a new strategy or incorporate the product into your existing strategy
4. Design new-product or product-enhancement campaigns to introduce your changes
5. Identify both the methods and vehicles you will use to implement the campaigns
6. Create new sales systems if you have to, but incorporate existing ones if possible
7. Capture appropriate client information and survey them for satisfactions & suggestions

The end of the year and the beginning of the next provides excellent opportunities to review, enhance, and introduce new products or services. Make sure you take the time to research the enhancements, verify that your clients will appreciate them, and modify your marketing plan to include them. Remember, you don’t do this all at once, but begin now for the end of next year.