Launching a product – Part 1

There exist a lot of frameworks on how to launch a product, but not so many explaining and detailing on how to build it and launching it.

I will detail down how we moved from the part of an abstract idea, to the validation and to the go-to market strategy, until the final conclusion of a course that it is now a success.

Problem

It is pointless trying to create a product that it is not solving a problem or need. If you are creating something that has no pratical purpose or meaning applicability in someone’s life, chances are that there will be no demand for your product and you will fail.

For that reason, before thinking about any product you have to do reverse engineering. Think about a problem. Try to witness patterns of questions that have not been answered or can require a solution for it. And if you find them, maybe you are into something.

Our problem

During the past year we received thousands of questions related with pratical subjects, directly related with kids education and development. From education, to behaviour, to sleep, to intelligence, to special needs.

All of these questions had one thing in common: there was no common place to provide answer to all of them.

Different people, from different ages, some of them in the quality of educators, some as parents. But all of them had this need to be solved.

Part of the research that we have to conduct is to assess if the problem we first indetify can be just a momentarily event, or if there is actually room for something more.

Patterns

Despite the fact we have been receiving lots of enquiries, could only meant that people who like our pedagogy and way to see education, were curious enough to ask how was our take into solve each one of those problems.

So we had to dig deeper.

We used to Google trends to assess the number of enquiries that were done monthly on these specific matters. The numbers were crazy. From north to south, people were asking to Google the same questions. They wanted desperately to have a proper answer for them.

Market trends

So we had validated that there was a lot of interest in these particular subjects, and not only from our followers but much broader.

Now, we had to validate if there was a tendency that these people will be keep looking for these information in the upcoming years, or if it was just momentary.

There is no generation like the millennials that are so dedicated to the education of their kids. They are willing to pay up to 25% more in comparison with their parents for the education of their child.

The same thing happen with educators. In the education industry like others, there are more people devoted to the career of being the best posible in their area.

So it was clear at this point that all boxes were checked. Either problem and its longevity, so it was clear that we had here room to explore.

But there was one final step before understand the consumer behaviour: were they willing to pay to listen/see/have the answers to this problem.

Cost of the product

Our research showed us that the vast majority of the parents are willing to pay up to 100€ per clinical appointments.

The answers they were making were clearly answers that any clinical appointment would give.

But those answers will always be to narrow. So specific answers to all different areas for a price not 3x times above the average per clinic should be enough to say that we have a product that people are willing to pay for.

At this point we just validate the product and the market. Click here to know how to create a great product and how define your go to marketing strategy.

I will detail the next steps regarding building the product and go to marketing strategy.

By Vasco de Matos Ramos