Product development and funding requires a sharp focus. Bring clarity and focus to your idea the Amazon way: the future press release.
Amazon has used the strategy internally for years as part of its “customer-obsessed” business culture. They call it “working backwards” – an approach to product design that looks first at what customer needs and customer reaction are likely to be.
A future press release articulates the product, market, and results in a way that would spark interest and inspire confidence in a media reporter. It presents answers to core questions like these:
- How will the new product outperform existing solutions?
- What set of customers does the product serve?
- What problems does the product solve for those customers?
- How does it serve your organization’s goals more broadly?
- What’s the best path to success?
If these questions aren’t immediately answered in a forward-looking press release, that’s a strong sign there may be a need to refocus. As Amazon Director Ian McAllister said in explaining Amazon’s product development process, “Iterating on a press release is a lot cheaper than iterating on the product itself (and quicker!).”
The honed, completed release serves as another design document as your project moves into development – a touchstone to keep features solution-focused and centered on the consumer experience. And customer benefits aren’t the only point that can be crystallized. A good future press release can also bring new product benefits to your company into sharp relief.
The primary elements of a strong future press release should include:
- A sharp headline that essentially names and brands the product or service.
- A quote from you (or key executive sponsor) that you would stand by if it were public.
- A clear and measurable goal that emphasizes financial, operating, and market share results.
- An articulation of features and benefits that make the product irresistible to your customers – why they care.
- An outline of the principles that led to success in development.
This strategy keeps your project centered on its core value proposition and keeps senior management and team members alike on the same page as to just what that core proposition entails. Ideally, it can go even further, and help you more clearly define your goals in multiple business areas that reach far beyond a single product.
Let Canright Communications help you build a future press release to focus in on your goals. To learn more, call Collin Canright at (773)426-7000 or email him at firstname.lastname@example.org.