This has been a topic for some times: Google wants its employees to think in order of magnitude, not in percentages. They want people to grow the business/product by 10x, not 10%.
The calculations and business model behind this theme are irrelevant to my mind: The concept is all about mental attitude rather than money. People need to think big to build big things. So I have to agree.
Probably, more products fail than not. This is not only due to lacking information, but also because of personal bias. Marty Cagan held a nice presentation which is also available as text. He points out many of the product failure reasons that are based on human irrational behaviour, and I mostly agree with him. This is a reminder for all of us to reflect our judgement from time to time.
When shopping for camera lenses, Amazon checks whether they fit on a camera you bought earlier. While one can argue that this ties customer to Amazon and prevents them to buy somewhere else, this feature does actually add value instead of just looking good.
Hora Loranger from Nielsen Norman Group has a nice article that shows what to keep in mind when choosing category names for websites (or user interfaces):
- Choose descriptive words and phrases
- Avoid made-up words or terms
- Check for overlapping categories
- Use classification schemes that communicate attributes your users can decipher
- Don’t rely on your instincts when deciding label names.
Use usual, great examples and more insight in provided in the article. Highly recommended.
Apple uses localized commercials, as this post shows. I like this extra effort because when promoting software or service, you need to reach people. If nobody cares about Facebook or Twitter in China, then why bother people with them? Weibo is a way better choice because it is present in the audience’s lives.
Of course, this causes additional effort and cost. On the other hand, marketing is only done to make people care about your product. So you should make them care.
Pricing is about value, which is not surprising. One way to find a suitable price for your product or service is to create a matrix with two axes, as Steve Johnson explains:
- Number of alternatives
- Effort of doing it myself
A smaller number of alternatives increases pricing potential as well as a higher the effort of doing it myself does (Make-or-Buy). The article has a nice illustration.
The Unique Selling Proposition (USP) of your product is worth nothing if the product does not persists in the minds of prospects. One way of making this obvious is to draw a Competitive Mindshare Map. The work should be done anyway, but I like to way to depict this to others.
Matthew Butterick publishes an extensive typography guide. It is extensive and, though text-only, quite readable. Did I mention that it was extensive?
I recommend his guide to anyone dealing with typesetting and typography.
Pricing is something of allegedly minor importance, and this is why many businesses fail to earn money.
Here is another list of questions to ask when pricing your product. I think the list is pretty good and a very good starting point for and exhaustive price analysis.
I was unaware that the term “Hockey Stick” was so wide-spread that even cartoons cover it, such as this one (quite funny).
The Hockey Stick is the phenomenon that sales increase slightly in the first three quarters of the year, with a sharp peak in quarter four. The resulting sales chart looks like a hockey stick.