Steps to Consider When Validating Your Product Idea - Deepstash
Product Management Essentials

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Product Management Essentials

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Steps to Consider When Validating Your Product Idea

Product ideas are easy to be born with but hard to get validated. A lot of products fail because of a lack of proper market research.

Secondary Market Research is essential to 

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Secondary Market Research

Secondary market research is the research that has been compiled for you. Examples include studies and reports by government agencies, media sources, labour unions, chambers of commerce etc. You can easily access them online without the need to pay for anything.

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Primary Market Research

Primary market research gives you the information that comes directly from your potential customers. There are a few solid methods of doing primary market research such as interviews, surveys, focus groups etc. Primary market research allows gathering two main types of data: exploratory or specific. If you are really serious into doing primary market research on your own, then make sure you read about the different methods of conducting it. You can find plenty of useful stuff by Surfing the web, too.

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User Research

Unlike market research, user research focuses on understanding the user’s behavioural aspects. Some of the methods of user research include user interviews, Contextual interviews, parallel design, Prototyping, usability testing, use cases and more. Observational research can be much more objective and can provide better results than interviews and In-Person conversations.

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Product Evaluation Research (gathering customer feedback)

Usually paying customers are more serious about your product and their feedback is thus more objective. If you have both free and paying users, make sure you do not get overexcited by the feedback of the first group. Instead, focus on learning as much as possible from those who pay you money.

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At the end

Use the chance to meet your users either in a coffee shop or on a bus. Do not get carried away by positive feedback, instead, make them tell something they hate about your product or feature. Then go talk to your team and start improving! did I Miss anything? make sure to hit a comment below.

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