In today’s world, where change is the only constant, there is a substantial market for digital products. Their popularity makes them a frequently discussed topic and subject to a great deal of untruths and misconceptions. What should and shouldn’t you believe? icapps Digital Product Strategist Nicolas Van der Wee is here to enlighten us about a number of frequently heard myths concerning digital products. We proudly present The Only Real Truth
Myth #1: Digital products are ideal for making some fast cash
If you equate digital products with ‘easy money’, I will have to disappoint you: they are hardly a golden egg-laying goose that lets you earn wads of cash in a flash without having to lift a finger. A carefully considered strategy that reflects the needs and interests of your target audience, however, is a basic precondition for a successful and profitable product. Nevertheless, this is no guarantee for overnight success. Once launched, you will need to keep updating and improving your product. This is, however, the big advantage of a digital product: there is no need for it to be 100% perfect before you sling it into the world, and neither will constant tweaking and optimization in response to tests and user experiences cost you an arm and a leg in production costs. All it takes to let your digital product grow into a real winner is a bit of time and effort!
Myth #2: A digital product will let me run my company on autopilot
Imagine this: you launch a digital product, after which all you have to do is bask in the sun lying in your hammock while your business runs itself. Forget it. It’s true that digital channels can automate quite a few processes. They lighten your employees’ workloads, allowing them to use their time more constructively and focus on doing what they do best. Of course, keeping the principle of digital inclusion in mind, your company will always need to keep offering a basic package of physical services – for which you can use the time freed up thanks to this automation.
Myth #3: I can never reach my target audience with a digital product
In a well-designed app, all information is grouped in a clearly organized manner. Its users can rely on the services offered on a 24/7 basis – which is of considerable added value in a world where people expect to be served at their beck and call, regardless of time or place. A thorough analysis of the target audience and their consumer habits allows our strategists and designers to succeed in creating low-threshold and user-friendly digital products. As a result, most people – even those who are easily daunted by all things digital – quickly realize that life is a lot easier when you no longer have to physically visit a shop to buy something or make an appointment with your bank to arrange your financial affairs. Thanks to this level of convenience, a digital product can raise the customer experience to a higher level.
Myth #4: Digital products are solely for rich companies
It goes without saying that a substantial budget is needed for the creation, development, and marketing of a digital product. On the other hand, a digital product allows you to quickly and easily create a great deal of added value for the users. Another big advantage is that digital products are scalable. You can upgrade and update them without having to make any huge investments, which enables you to keep offering them for years to come – always in a new and improved version. Tangible products, on the other hand, are more subject to time constraints and the impact of upscaling them is generally greater
Myth #5: You need an original idea to conceive a digital product
The notion that you can only become firmly established in your niche if you can come up with an idea that is 100% unique is absolutely misplaced. Considering the sheer quantity of people, products, and services in the world today, it is impossible to invent something completely new. That doesn’t have to be a problem, because there is plenty of room on the digital products market for a wide range of solutions. Simply because you are operating in a niche where there is already a large supply does not mean that your product or service will not be in demand. What’s important is that you offer an easily accessible solution for a specific problem or need, and never forget to put the user first, before innovation or creativity.
Myth #6: Many companies lack the know-how and expertise to make a digital product
The creation of a digital product certainly requires a lot of knowledge, from UX and UI design to development and after-care. It is clear that this is too much for only one company to handle. What could be smarter than partnering up with one or more other companies that do have this knowledge and expertise on board – such as icapps? As a full-service digital partner, we can join forces with your company for the realization of a user-friendly digital product that offers your customers added value. This leaves you with enough time to focus on your core business while we create an outstanding digital product that you can use to reach, inform, and make life easier for your customers!