When you start your product development process, you probably yearn for some spark of inspiration or a breakthrough in market research that will lead to that coveted standout element – innovation.
Innovating in product development is a subcategory of the product dev process since it highlights the transformation of a new idea into a useful product that revolutionizes the way user’s needs are met. Such products are created by bringing together the digital product engineering process and business innovation.
Successful companies that can bring an innovative product from ideation to launch are usually those that use agile methodology in product and project management, nurture a company culture that supports ongoing education, and encourages employees to present their ideas.
Combine these two factors with adequate development tools, and you’re almost surely on your way to (at least) a minimally viable product (MVP)!
If you are wondering how to drive innovative product development in your manufacturing process while reducing costs and dev time, read on.
Benefits of Innovation in Product Development
If you do market research properly before MVP development, you will conclude what are the needs of your potential customers, and in which novel ways your product can stir up the industry. Because that’s the key word – novelty. If you give users new and improved ways to fulfill their needs, and your marketing team does a swell job – success is almost guaranteed.
Even though there are difficulties galore – thanks, Covid, the budding conflict in Europe, and inflation – there is room for your company to persist and grow. If you leverage the right social technology and spin it into innovative products, you can scale your business.
Some of the benefits of product development innovation are:
- Promoting cross-departmental collaboration, bringing teams closer together to noticeable results
- Bringing other stakeholders into the collaboration process – from business partners to customers
- Adding new insight into the ongoing market and industry trends
- Building business authority and reliability in your chosen niche
- Increasing customer loyalty and engagement thanks to customer-centric products
- Driving innovation in other potential product development projects
4 Ways to Drive Product Development Innovation in Manufacturing
Manufacturers and companies are shifting production and development processes closer to the consumer, both physically and digitally, due to turbulence in the global supply chain. A better connection between products and end users is made possible by new tactics that assist spot previously unmet demands in the market. Such innovative manufacturing processes reduce expenses, allow businesses greater control over production, and support more environmentally friendly supply chain practices.
Below are some ways companies are driving product development innovation. You can jump on the bandwagon and apply these moves to your industry.
1. Adopting an Agile Approach
One of the most vital parts of the agile approach – when it comes to innovation – is the aforementioned Minimum Viable Product (MVP). You use it to test client responses before making any necessary adjustments to achieve better outcomes. The MVP is the product with minimum functionality you introduce to the market, pitch to clients, and then upgrade frequently and continuously.
Even though the method was primarily created for software companies, parts of it may be used for the development of any form of the product by simply focusing on the gradual introduction, continuous assessment, and quick adjustments and reintroductions of improved versions. It helps you test the waters when trying to muscle in an innovative product or innovative product feature.
2. Adopting an Entrepreneurial Mentality
Entrepreneurs know that product innovation is a continual process of refinements and that failure along the way leads to breakthroughs. But they also work hard to lower risk around new ideas by arriving at the MVP concepts faster.
So here are some ways you can fast-track your way to entrepreneurial thinking:
- Be realistic: Most ideas come from visionary thinking. Overcoming the frustration of solving how to bring those ideas to fruition is vital for any great product.
- Build a roadmap: Developing a product is quite a road, and you’ll need a map. Avoid obstacles in advance by optimizing teamwork with strategic roadmaps.
- Trust the product: Once you have your idea, go for it. Resilience and faith can carry you far.
You can’t form an entrepreneurial mentality overnight, so you can go down the road many successful businesses took and hire a product development consultancy that can help you achieve your goal.
3. Being More Customer-Centric
With the rapid expansion of technology, customer voices became amplified. And that isn’t going to change. That’s good news for you! Because you now potentially have a goldmine of insight online waiting to be discovered. Or, better yet, you already had users contact you with feedback and ideas. Other ways of gathering info are done by gathering focus groups, conducting user surveys, etc. Don’t shy away from some other proven methods such as going through relevant data such as Google search trends or questions posted on the support sites and FAQ pages of your competitors or other forums.
Whichever the case, all these methods can help you arrive sooner at that untapped product development idea that will meet the needs of users.
4. Encouraging Cross-Departmental Collaboration
No man is an island. And no company department is an island. That’s why departments that brainstorm and work on ideation and dev together – succeed together. A greater flow of ideas and better-streamlined processes happen in an agile and interconnected environment.
That tells us that not only is more open communication and collaboration needed, but also the right set of collaboration tools and platforms. Such software upgrades can unify team members on their way to successful product launches.
Even in these challenging tunai4d economic times, innovative product innovation is still achievable. Sustainability depends on an organization’s capacity to integrate the appropriate technologies into its innovation and product dev processes. By following the tips above, you may just help your business grow as a whole and bring innovation to your chosen industry.