The 3 Biggest Mistakes Made When Choosing Features For Your Online Business
What are product features? Simple, they are small but important things that add up to one big thing – a great product. Product features are invisible, discrete aspects of upgraded and new functionality that provide real value to your clients. You could think of them as special gifts to give your clients. They can include new product versions, enhanced user interface (ui), performance upgrades, and many more. In essence, they add value that your customers will appreciate.
To define product features is quite difficult. Basically, it is the differences between your existing product and your new product. There are plenty of product features to choose from, which makes it easy to get confused about the most appropriate ones for your product. That is why it is always a good idea to create a Feature List (which is available in many software packages). Add a couple of unique characteristics that you think your product could benefit from. Then, add a number of other characteristics that could be considered, depending on your needs.
The list is a good way to get started. But you should not limit yourself to a list of only two words or even just a few words. For example, you may consider the following features: faster response time, better customer support, easier accessibility, etc. The difference between a characteristic and a feature is usually determined by your audience. If your target market is young professionals, then features such as easy accessibility and quick response time are likely to be important and helpful features.
A word feature on the other hand, refers to a small, specific and independent feature. Let’s use our example again. The difference between a feature and a word feature is the ability for a user to perform a particular action. If you are selling beds, then you could have one word features like bed frame, under bed storage, or perhaps bed organizer. On the other hand, a feature like quick to install bed frame would be considered a word feature, and would be more appropriate for something like bed frames, not so much bed organizers.
So how do we then go about defining features? One good method is to actually sit down and write out the features that your product has. This helps you to see exactly which of your product features actually benefit your users. You can then prioritise features on an individual basis. This can be done by writing out the most important features first, and then moving on from there.
Another way to define features is to see what your customers want to do with them. Consider what they are looking for in a product, and then look at your competitors to see if you can provide these features. Finally, you can consider whether or not your competitors are successful with their special attractions. Most online businesses will eventually hit a saturation point with regards to the special attractions they offer, and this can indicate a good place to start when you’re prioritising your product features. Of course, it’s also useful to know that you shouldn’t simply set yourself up for failure – if you don’t provide something of value, your competitors will beat you to it!