Unique attributes are key to successful product innovation
Successful product innovation will largely depend on the unique attributes of your solution. Keep this in mind as you move through the Product Phase Map, from the Problem phase to the Solution phase.
What solution can you offer that your competitors do not, and what attributes do you have that make you different from your competition? Consumers are generally lazy and hence it is incredibly difficult to get someone to switch from an existing provider to you. Therefore, your solution needs to be significantly better than the competition.
Anthony W. Ulwick, author of Jobs to be Done: Theory to Practice, believes that a product must be at least 20% better for someone to want to switch. Therefore, it is vital that you identify your unique attributes.
Start by listing them. You will usually have several. The key is to find the ones that are innovative, the ones that will truly differentiate you from your closest competitive alternatives. Zwift is a good example of this. Zwift is an innovative indoor training app for cyclists. It differentiates itself by offering an interactive racing platform that uses an avatar. You aren’t just sitting on a bike peddling away, you are actually racing against someone else.
At this early stage, avoid using subjective opinions like ‘Very easy to use’. Only later, when you have proven that your product is actually ‘very easy to use’, can you include it as a unique attribute.
Another trick is to pay particular attention to your consideration attributes. These are the attributes that your users will look at when considering whether to use your product for the first time. For example, the Whoop fitness tracker monitors your recovery, so you know how hard to push yourself at your next training session. I bought into this because I wanted to ensure I didn’t injure myself by training too hard when my body wasn’t ready for it.
Only at a later stage will you look at the retention attributes. These are the attributes that are designed to keep your customers using your platform. Continuing with the Whoop example, they built a profile about me that improved over time. This constant knowledge and feedback made it harder for me to switch away from them later.
While we are on the subject of fitness apps, let’s have a look at another one, Strava. The consideration attribute for Strava is that it is an easy way to log your training sessions, and those sessions can be set against customized goals. However, the retention attribute is the fact that I can build a network of friends and followers. We can compare our performances and give and receive ‘kudos’ (the equivalent to a ‘like’ or thumbs up). I am more likely to stay on the platform because I like the social element of it.
Knowing your unique attributes is critical, especially when it comes to understanding the value you provide to your customers.
