In this guide to product ideation, we’ll outline the benefits, techniques, and a case study from Ordnance Survey, and how they implemented product ideation!
In a nutshell, product ideation is the planning, brainstorming, and implementation of new product ideas, features, and enhancements. It’s about asking the right questions, gaining the right feedback, and leveraging creativity and innovation to improve a business’s offering.
Think of it as the magic behind the products we use in everyday life. Whether that’s a piece of software or a cleaning utensil. Things that started as concepts. In this short guide to innovative product ideation, we’ll uncover why it matters, how to ideate a product, and an example of product innovation achieved with our tools!
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Asking why product ideation matters is like asking Apple why it wanted to change the face of the music industry; like asking Netflix why it wanted to rethink our TV habits, or why Facebook wanted to connect the world.
In most cases, product ideation is a win-win scenario. It tends to a consumer need, while increasing a company’s share of a market, helping them enter a new one, or overtaking their competitors. What’s more, in a rapidly moving world, executing every single idea isn’t achievable.
There are costs involved in creating prototypes, building features, and spending hundreds of hours thinking, developing, and brainstorming.
Product ideation is a more systematic approach, a framework, perhaps. A process that can be broken down into bitesize, practical steps. Let’s take a look at these in more detail…
The Product Ideation Framework
It’s important to understand that the product ideation framework is a step-by-step process. Each is just as important as the other, and none can be forgotten.
Identify The Problem
The first step of any product ideation process is identifying the problem. This may be the challenges and setbacks of an existing product, or an unmet need of your customers and target audience.
Look for key market trends, gaps in your product offering, and any pain points customers endure. You will be surprised how many organizations spend millions of dollars on products that don’t meet a particular problem.
How do customers deal with specific problems?
Is this problem widespread or minimal?
Why does this problem currently exist?
Brainstorming
Once you’ve identified your problem, an effective product ideation technique is brainstorming. Start by bouncing some ideas around your team and find ways to solve the issue at hand.
Brainstorming must be feasible, tangible, and cost-effective. Bankrupting your business to solve a problem, is a problem in itself! At this point, it’s important to turn those new ideas into full concepts.
What problem are we trying to solve?
Can we improve on any existing solutions?
Who is our target audience?
Validating Product Ideas
Moving on, let’s talk about validating product ideation techniques. By now, you should have a number of concepts and ideas that could solve your customer’s needs. You’ve answered the questions above, and you’re ready to test!
It’s a good idea to host feedback sessions such as focus groups. This helps you gather critical feedback to understand whether an idea is worth investing in.
validating new ideas
Another great way to validate product ideation is by involving key stakeholders. Present your ideas to managers and executives within your organization to see if your concepts and ideas are worthwhile.
Does this solution effectively solve the problem?
Is the product easier to use?
How does this feature or product compare to alternatives?
Implementation
If you’ve made it this far in the product ideation framework, well done! You’re ready to implement your next big idea or refine your existing product.
Tools like edison365 help you move from idea to implementation using triage sliders, idea crowdsourcing, project capabilities, reporting, and more. By adopting an end-to-end solution you can take product ideation to the next level!
Even without sophisticated software, success is still achievable! Remember, start small and aim big. Without certain tools, it may take a little longer to get a solid product ideation framework off the ground. Try to instill a culture of innovation, and use free collaborative tools such as Slack, Google Workspace, Figma, and Microsoft Whiteboard. It’s also important to develop a structured process with effective ideation techniques.
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Let’s take a look at a key product ideation example, Ordnance Survey. Known as Great Britain’s mapping agency, Ordnance Survey has a rich 250-year history of creating geospatial products for a plethora of customers.
From government departments to UK and international businesses, and consumers. And while Ordnance Survey’s products carry an element of prestige, it hasn’t stopped them from exploring innovative product ideation!
Ordnance Survey’s Quest for Improved Ideation
As time evolves, new hurdles are born. To combat their ideation challenges Ordnance Survey decided to utilize edison365 to establish a better system for assessing and developing new ideas.
It needed a new product ideation framework to support its government, commercial, and consumer priorities. The solution? An end-to-end platform for evaluating and validating ideas, and real-time reporting.
How Ordnance Survey Achieved Its Goals
By leveraging edison365, Ordnance Survey developed a number of systems and processes for innovative product ideation. Since launch, the government-owned agency uncovered 100 new product ideas that it continues to validate and implement.
Ordnance Survey also benefits from newfound transparency and communication around product ideation, with edison365 helping to open the doors to product ideation conversations.
As they continue to look for new ways to implement edison365 within the business, their Product Enablement Lead had this to say.
“The tool works really well for us, allowing us to transform innovation consistently. We got everything we wanted. We’ve got the outcomes we wanted and that’s the most important thing.”
Effective Product Ideation Techniques
To get you started on your path to innovative success, here are four of the most effective product ideation techniques you should consider!
Mind Mapping
Mind mapping is the simple product ideation technique of mapping out your thoughts and concepts in a way that is understandable. It’s turning those messy ‘Aha!’ moments into digestible, tangible opportunities.
It’s a great way to piece the puzzle together and grasp the coherence and entwining of ideas and concepts too. Our top tip for mind mapping is to actively look for ways to connect different ideas and let everything just flow!
Competitor Analysis
It’s goes without saying that competitor analysis is a must-try product ideation technique. Do a collaborative deep dive into all the great things your competitors do, and understand what successful features, functions, or products they have released.
Ask yourself, “What features or products are my competitors working on?” Now, you might not have all the answers, but knowing what trends your competitors are striving to accommodate in your industry or market is important.
Prototyping
One of the best product ideation techniques is prototyping! Prototyping can help you rapidly develop ideas into fully-fledged products. Go from concept to MVP and seek out feedback on the features of the product you have created.
By prototyping, you bridge the gap between an idea and somewhat of a finished result! It’s a great starting point in your product ideation journey and helps others to truly understand what it is you’ve created and why.
The Benefits of Product Ideation
Before we wrap things up, let’s look at the key benefits of product ideation. After all, it answers that all-important ‘Why?’ of any ideation efforts. So, what are the benefits of product ideation?
Uncover Market Opportunities
The first benefit of product ideation is unlocking new markets and identifying new opportunities. By providing new products, fresh features, and better customer experiences, you increase your offering for unmet needs!
This can also set you apart from the rest of the competition. For instance, those unmet needs might be overlooked by your biggest competition. And you know what that means? You got it, the chance to win more customers over!
Creates a Culture of Ideation
Another key benefit of product ideation is the culture it instills. By creating a product ideation framework and adopting the key techniques outlined in this guide, you can create a powerful synergy across your team.
Suddenly, your employees will begin to think differently, think inventively and creatively. The key characteristics of any workforce that wants to be disruptive!
Minimizes Risks
Finally, let’s not forget that product ideation minimizes the amount of risk involved with new ideas and products. Implementing a product ideation framework is a proactive step in reducing costs and wasting time on dead ends.
Nobody wants to see their latest product crash and burn. Especially when it costs thousands of dollars or pounds to put it together! Don’t ideate and implement without using an effective framework or software like edison365!
Note: edison365 can help you mitigate all the risks associated with new product ideas, project portfolios, and more with robust risk management software.
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If one thing is certain, product ideation is pivotal to the progress and success of modern-day products. From making refinements to developing entirely new concepts, it’s a must for businesses that want to compete at the very top.
Without the use of software, it is still possible with a robust product ideation framework, but it may take a little longer. It’s important to weigh up the pros and cons of your business using ideation software.
Tools like edison365 are utilized by the likes of Ordnance Survey, BDO, and MERZ. Global organizations that want to introduce better ideation techniques, outshine their competitors, and create genuine solutions for their customers!
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