The first step to developing a stellar product is to understand your market.

[Shakhawat]

With the bounty of resources present in the marketing world, it has gotten harder and harder to one-up your competitor's marketing strategies. But the truth is having a stellar marketing strategy isn’t going to make up for a bad product.

A good product is going to fill the needs of your market and solve for your prospect’s pain points, without needing to rely on your email campaigns, conversational marketing or co-marketing partnerships. Companies that focus on the product itself first have a higher chance of success.

But, how do you get there?

Understand Your Market
The first step to developing a stellar product is to understand your market.

“You should know who the people using your product are vnpay database before you know what your product is,” says Guido Bartolacci, New Breed’s Head of Product.

If you thoroughly understand the folks that will be using your product, you’ll do a much better job of serving those people.

Develop a Product That Serves Your Personas
Every product is different, and there is no one-size-fits-all product development solution (and if you think there is, you need to go back and look at your market again). During this stage, there are some key things you need to think about:

Retention: How are you going to get customers to continue using your product?
Positioning: What are the tactics you’re going to use to bring interest to your product in the first place?
Core value proposition: At the most basic level, what need does your product solve for?
Once you have developed a cohesive answer to those three things, you will be in a much better position to continue moving forward with your product development.

Ultimately, your goal is to develop a product that serves a need folks aren’t aware of yet.

For example, Vidyard’s solution enables users to host a variety of videos through their product with the ease of simple integration. Because video was growing at a rapid pace, Vidyard solved for their customers’ need to be able to easily access their sales and marketing resources while communicating with their prospects in a fun and exciting way.