For product managers, business owners, and core team members, knowing where they are in the product lifecycle is critical to maximizing the reach and profits of a product line— breathing new life into the product, finding new markets, or building a loyal customer base.
Awareness | Leading up to any launch, there needs to be an alignment on who your product is trying to reach and where. |
Interest | Consumers researching a product, reviews, passive google searching, etc. |
Desired | After convincing themselves, they need your product. They move into active shopping mode. |
Action | For most, this means to purchase or trial usage. Does the product live up to the hype? |
Loyalty | Building loyalty starts with constant attention, collecting customer feedback, and creating programs to keep them engaged. |
Advocacy | Once teams are genuinely in tune with the consumer's voice, programs and incentives to keep them engaged will turn consumers into brand advocates— expanding the reach of a product to new audiences and markets. |