How To Come Up With Your Next Product Idea

As a product based business, it's only fitting that we continue to come up with fresh and new product ideas. But how do you keep the ideas flowing? There are a variety of methods I use to help me stay on top of new product ideas. Here's a list of the top 5 methods that I've found to be most helpful:

1. Keep a Running List: Creativity often strikes at unexpected moments. By keeping a running list of potential product ideas, you capture those sparks of inspiration before they fade away. I like to keep a little library of ideas in my Notion board, but you could also carry a physical notebook or keep a list in a google doc. This allows you to build a treasure trove of ideas to explore when you're ready to develop new products so you're not left staring at a blank empty page.
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2. Note Customer Feedback: Your customers are a valuable source of insights. Pay close attention to their feedback, suggestions, and requests. Take a look at reviews, comments, and emails to identify recurring themes and any trends of requested products. This information can serve as a springboard for generating product ideas that address specific pain points or cater to desires expressed by your customer base.
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3. Survey Your Audience: I just started to try this approach recently, and I can't believe I haven't done it sooner. Directly engaging with your audience through surveys provides valuable data which can inspire new product ideas. Create surveys, which can be done in a free google form, to gather insights about your customers' preferences, aspirations, and challenges. Ask open-ended questions to encourage respondents to share their thoughts and suggestions. The feedback of your audience can uncover new and fresh ideas that resonate directly with their needs and desires.
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4. Build Upon Bestsellers: Your best-selling products already have a proven track record of success. Consider expanding your product line by developing complementary items that enhance the overall customer experience. Think about how you can create add-ons or variations that align with what made your bestsellers popular. By leveraging the success of existing products, you can tap into the existing customer base and increase customer loyalty. This is how our Daily Overview Planner was born. We had such success with the notepad version that we developed a notebook variation for those who wanted a bound option.
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5. Accessorize: Another effective approach is to explore accessory options for your bestsellers. Think about how you can enhance or customize your existing products through accessories. This can range from practical add-ons to decorative elements that allow customers to personalize their purchases. Accessories not only provide additional revenue streams but also create opportunities to upsell and offer customers a full product experience. I have developed accessories for our planners that include stickers and brass bookmarks. These can also be developed into bundles that can be sold at a higher price point and be marketed as gifts sets.

Developing new products is one of my most favorite parts of what I do. By using these methods, I always have an idea in the wings, just waiting to come to life!