How Product Managers Can Balance Innovation with Buyer Resistance and Avoid Feature Creep
Balancing Innovation with Buyer Resistance
Product managers have to overcome customer resistance while offering novel features. John T. Gourville in
“Eager Sellers and Stony Buyers” describes how consumers’ illogical overvaluation of current products is a major contributing factor to buyer resistance. Even when a new product offers enhancements, consumers frequently consider the possible losses of switching products more strongly than the benefits. Product managers should concentrate on small adjustments that reduce the need for customers to alter their behavior in order to strike a balance between innovation and buyer resistance. They can do this by using the “hybrid strategy” where a new product keeps some aspects of an existing one. For instance, Toyota came out with the Prius to minimize disturbance to users’ driving habits by combining a gasoline engine and an electric motor. Additionally, product managers can target early adopters or people that are prepared to accept change and innovation. These clients can offer insightful criticism and spread good word of mouth, which motivates others to give the product a try. Product managers should also place a strong emphasis on behavioral compatibility by skillfully incorporating new features into routines that customers already follow. For instance, Google’s search engine was successful not just due to its improved algorithm but also because it maintained a recognizable and easy-to-use user interface.
Leveraging Loss Aversion for Adoption
Daniel Kahneman and Amos Tversky’s theory of loss aversion explains why people experience greater suffering from losses than happiness from gains. Due to this bias, consumers are hesitant to convert even when they offer greater benefits. Product managers may find it effective to present new features as a way to minimize losses. For instance, product managers should emphasize how a digital video recorder (DVR) keeps consumers from “losing out” on their favorite shows rather than pitching the device only as a means of recording TV shows. Moreover, product managers might also provide risk-free trials or money-back guarantees to lessen loss aversion. By lowering the perceived risks of switching, these tactics increase the likelihood that customers will test the product. Additionally, by limiting the number of choices accessible, businesses can progressively phase out older items to encourage consumers to adapt.
Avoiding Feature Creep
Feature creep can impair usability and weaken a product’s essential qualities because it can overload a product with unnecessary features. It frequently results from eager merchants’ expectations, who push for greater features without taking consumer wants into account. Product managers should prioritize features that correspond with user pain areas in order to avoid falling into this dilemma. Finding the things that really bring value can be aided by early feedback collection and customer-centric testing conducted early in the development process. A good product usually strikes a balance between simplicity and creativity. Managers may keep the product from becoming cluttered and alienating users by sticking to a clear product vision and restraining themselves from adding features arbitrarily.
