There’s no such thing as a perfect product - everything has room for improvement. But how do we determine the right product innovations?

In this article, I’ll share three metrics to look out for, how to gather customer requests, and how to translate them into the right product innovations.

But before I do that, I want to say everything I'm going to share is my own personal opinion, these are my personal views.

The key topics I'll be covering are:

  1. What is a product innovation?
  2. Three classifications of product innovation
  3. How to determine the right innovation: three metrics
  4. How to gather customer requests
  5. What next?
  6. Add details
  7. A never-ending cycle

What is a product innovation?

Before I actually start getting into how to capture customer requests, and how to convert them into product innovations, I want to talk briefly about what a product innovation is.

Hand holding smart phone, projecting money symbols above.


Three classifications of product innovation

When it comes to products, there are three main areas you can classify a product innovation into.

Net new

The first one is you're creating a net new product, you're creating a product that your company does not offer today, or no one offers today. How do you build a new product based on customer requests?

A pivot

The second one is you have a product, but based on some feedback, you want to pivot from it. That's pivoting from an existing product line.

Building incrementally

The third one is you have a product, and you want to build incremental features on top of it. You want to keep making your product better and provide more features so users find it even more valuable. That's product innovation to build an incremental feature.

How to determine the right innovation: three metrics