All about Failures

Generally we put our heart and soul to any work that we do. But it is always disheartening to know that it failed. The most frustrating part comes when we were not able to figure out the reasons for the failure. There are four reasons for any new product to fail. They are as follows :
1. Not many audience saw your product
2. The audience never bothered to become an user
3. The users never became a customer
4. The customers never shared it with others

Why not many audience saw your product? It is because of two reasons. The main reason is cluttering. There are too many options out there in the space, which makes users to get confused or carried away. The second reason is that your product is not remarkable, that it made an impact. In fact being remarkable is the solution for the first reason – cluttering.

Why audiences who saw our product never bothered to be an user? This is because there was no story behind the product, which appeals the audience. It is these stories that help people get more done, enjoy life more and even live longer. And Successful marketers are just the providers of stories that consumers choose to believe.

Why users never became a customer? There can be two reasons attributed to this. The first reason could be related to your own product. Be it the ease of usage, the performance, the cost etc., which makes the user to go away from your product. The second reason is that some other product offers better service, better usability or best cost etc., And the users may be pulled towards the other product.

Why customers never shared it with others? This could be because, the customers would not have felt fully comfortable. Also this could happen when the customers feels that the product is not worth talking about.


Reference : Seth Godin’s “All Marketers are Liars”