Icon of a arrow pointing left.
Back to all case studies.

Product Innovation and Digital Product Consulting

So, you have identified a problem or vacuum and have an idea of how to address it. That’s how most businesses begin. Someone with a keen vision identifies a problem and comes up with a solution for it. However, just coming up with a great idea isn’t enough and that’s where most prospective entrepreneurs falter. They don’t know how to come up with a nuanced and effective product to address the problem. Their initial idea lacks the finesse needed to succeed in the market. That’s where a product management agency can help you. They have the experience and skills needed to polish your product and make it viable for the market.

Product Innovation – What is It?

Product innovation is the process of developing or refining a solution so that it can serve a purpose or address the need of a market effectively. A product exists to solve a problem or fulfill a need. For example, you need shoes to protect your feet, anti-virus to protect your devices, smart security to protect your home, etc. Every product is designed to help customers, industry, and even society in general.

Product innovation is the process of taking a solution from the idea stage to the sale stage. Most people think coming up with a product idea is the most difficult aspect of this process. In reality, bringing an idea to fruition is the most challenging aspect. It involves research, experimentation, testing, multiple product designs, and more. If you don’t have experience with product development, this process can quickly become overwhelming, which is why hiring a digital product consultant is a good choice.

What is Digital Product Consulting?

A consultant is a professional who specializes in a particular field and can provide tailored advice to clients. A digital product consultant is an expert that specializes in digital product innovation and development. These professionals understand the process of developing viable and efficient digital products like apps, websites, online services, SaaS, and more. They understand the methodology and can come up with a systematic solution to help you develop the best product.

A good digital product consultant will help you refine your product down to the smallest details. They will not focus on the big features and tools of your digital product, but also bells and whistles that improve the overall user experience significantly.

Is Product Innovation a Worthwhile Investment?

According to a McKinsey survey, around 25% of all revenue businesses generate comes from launching new products. Introducing new products and new versions of products can help ensure your business is dynamic and interesting. That’s especially important if you’re part of a competitive industry with a very mobile and curious target audience.

Digital product consultancy can help you stay ahead of the game with effective product innovation. Whether you want to revamp an old product, introduce a new one, or refine an existing service, an experienced consultant can help.

If you want to learn more about innovation or need some help with it, consider getting in touch with Panthera. We’re the best product management agency for the job.