The first step in product development is finding your niche/brand. Your brand should be something that resonates with you personally and solves a problem. Jake, the founder of Scare, had a mark on his nose from a skiing accident and was using whatever shampoo smelled nice. He realized that there was a gap in the market for men’s skincare products that were easy to use and efficient. This led to the creation of Scare, a skincare brand for men that only takes 30 seconds to use.
Appealing to a Specific Set of Values and Behaviors
It is essential to have a specific set of values and behaviors that you appeal to when developing your brand. Scare is centered around the idea of efficiency and saving time. Most men don’t want to spend 30 minutes in the bathroom, while some women actively enjoy the experience. Scare’s 30-second skincare routine appeals to men who want an easy and efficient solution to their skincare needs.
Fast Wins
Every product that you develop should give your customers a fast win. Scare’s products are designed to give customers a positive experience in the first minute of use. This is important because people are more likely to continue using a product if they see results quickly. A gym membership, for example, can be challenging to stick to because people don’t see results immediately. Scare’s products give customers a fast win, which keeps them coming back.
Value Equation
The value equation is a critical component of product development. The value equation is the dream outcome multiplied by the perceived likelihood of achievement divided by the time delay and effort and sacrifice. Scare’s products deliver a fast win, which increases the perceived likelihood of achievement. The 30-second skincare routine is also easy to use, reducing effort and sacrifice.
Credibility of Your Promise
It is essential to establish credibility with your customers. Scare’s products are designed to give customers a positive experience in the first minute of use. This creates credibility because customers can see results quickly. Scare also uses influencers and social proof to establish credibility with their customers.
Marketing Your Product
Your product is also your marketing tool. Scare’s products are designed to be easy to use and efficient, which appeals to their target market. Scare uses social media, email marketing, and influencer marketing to reach their target market. They also offer a mentoring and consulting service for e-commerce brand owners who need help with product development.
Final Thoughts
Product development is essential to the success of your e-commerce brand. Finding your niche/brand, appealing to a specific set of values and behaviors, delivering fast wins, and establishing credibility with your customers are all essential components of product development. By following these product development hacks, you can scale your e-commerce brand with minimal capital and create a loyal customer base.
