How To Do Product Research?

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Diffshop is the first all-in-one data platform
for eCommerce sellers. We provide our customers
with a single dataset that covers all aspects of
their business - from inventory and pricing to
customer behavior and marketing campaigns. This
enables our customers to make data-driven
decisions that improve their sales and
profitability. Our platform is easy to use, yet
powerful enough to handle the most complex data
analysis tasks. We combine decades of experience
in eCommerce, big data, and software development.
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How To Do Product Research?
Choosing the right products can take some time
and requires effort. The big part of this process
entails conducting product research using the
necessary tools and identifying in-demand
products that are lucrative enough to begin with.
The next step is getting those products into your
shop and running trials. And youll know that you
are moving along the right path.
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1. Define your research goals 2. Understand your
users 3. Do market research for your product 4.
Get to know industry trends 5. Validate ideas
with current or potential users 6. Test your
MVP 7. Continue research after the product
launch 8. Turn research into action
8 Steps for Amazing Product Research.
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1. Define Your Research Goals
First, set your high-level goals, which should
test business objectives as well as
customer-centric product discovery. These are
often drawn directly from the product vision and
strategy. Then, create attainable, specific
goals or questions for your team to focus on
during each stage of their research. This might
include Conducting market research for the
products adoption before its launch
Identifying areas where key features can be
improved after the product launch Evaluating
the products performance throughout the product
lifecycle
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2. Understand Your Users
User needs are at the center of effective product
research processes. Engage in user
discoveryidentify and understand your
customeras early as possible, even before you
have definite product or feature ideas.
Open-ended user research is a key source of
product inspiration and innovation, and an
essential step in determining product-market
fit. Then, when you have product proposals,
prototypes, or a minimum viable product (MVP),
you can start seeking more specific feedback.
User research is all about interacting with your
current or potential users and learning what they
want and need. Developing a user-centric culture
of ongoing research will help you gauge the
market demand, position your product against the
competition, and generate customer delight.
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3. Do Market Research for Your Product.
Run thorough competitive and comparative analyses
to test the business potential of your product
against other solutions on the market, and engage
in opportunity mapping to get stakeholder buy-in.
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4. Get to Know Industry Trends.
Next, combine your understanding of your users
and market with research on technology trends
that may affect user expectations of your product
or its long-term viability. Stay on top of
trends by regularly engaging with tech
culturesread trade magazines and news sites,
listen to tech news podcasts, and follow key
trendspotters on social media and specialist
forums. You can also use tools like Google
Trends, Trend Hunter, and PSFK.
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5. Validate Ideas with Current or Potential User.
Once youve developed a strong sense of your
users, market, and technology, its time to start
testing concrete ideas and solutions. Based on
your early research, identify possible products,
features, or upgrades that could meet user needs
as well as business goals. Then, run concept
testing to evaluate the user experience. First,
identify key users or user types to test. Recruit
participants for customer interviews or focus
groups, or deploy Hotjar Surveys, Incoming
Feedback tools, and Session Recordings to test
ideas with existing users.
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6. Test Your MVP
The next step in your product research process is
to develop a Minimum Viable Product based on
validated ideas and run tests to improve
subsequent iterations. This is a critical stage
in product research that you shouldnt skip.
Waiting for the fully developed product before
running tests makes it harder to fix software and
prioritize bug issues, causing major delays.
Read more.
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7. Continue Research After the Product Launch
Consider doing a soft launchor even canary
deploymentwhere you release new products or
features to a small group of users Gather data
to weed out bugs Finally, adapt the product
based on user responses
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8. Turn Research into Action
The final step in any product research process is
to organize your research and turn insights into
action. Curate your research into specific,
actionable themes to cut through the noise and
gather valuable, user-centric insights. Then, use
your research to establish a strong product
strategy and roadmap to guide your product
development process. Make sure you compare the
strategy and roadmap with new research at regular
intervals and update where needed, though its
important to strike a balance these documents
should be dynamic but relatively stable
touchpoints.
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Thank You
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8615012687835
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