Product Adoption: Realizing The Real Value By Ashish Pandey, CIO, GSK Consumer Healthcare India

Product Adoption: Realizing The Real Value

Ashish Pandey, CIO, GSK Consumer Healthcare India | Friday, 11 February 2022, 13:29 IST

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Is bad quality the only reason why newly introduced products fail in the Information Technology world? Every year, numerous technical products are launched, and each of them go through the rigorous four stages of product lifecycle i.e., Introduction Growth  Maturity  Decline. On this journey, they meet various stakeholders who are innovators, early adopters, early majority, late majority or the laggards. Some disruptive products and technologies can give the established products run for their money, but still fail miserably and cannot even qualify the race of being called 'bankable'.

The major reason why some of these products do not perform well and are unable to match their real potential is due the inability to get adopted and accepted in the existing ecosystem. The product's actual users are unable to realize the maximum value out of it. This mostly happens as many a times, the Product Managers focus only on ensuring that the product goes live and put-in least efforts in defining KPIs and metrics to track adoption once it is available to the users.

"To overcome the post go-live failures, every product launch strategy should be developed keeping in mind how it will transform the life of users it is catering to"

To overcome the post go live failures, every product launch strategy should be developed keeping in mind how it will transform the life of users it is catering to. The aim should not be just to make the product available to the users, but rather to ensure that every user should love the product and keep talking about the value it brings to the table. In our digital world, it is very easy to track how any user is responding to the product by simply monitoring some of the available adoption metrics such as DAU/MAU, Bounce Rate, NPS and others. It is also advisable to seek regular feedback from users in the form of surveys and questionnaire to measure the CSAT score on the product. All these minute details and insights need to be studied from time to time by Product Managers, Product Adoption Leads and other experts such that corrective measures can be taken to improve any misses that have been derived from the above mentioned metrics and surveys.

It's unfair to expect that the product value would be high right from the initial stages, as any user would take time to increase their awareness level on the product. The sweet spot to maximize adoption is around the second and third stage when the value starts increasing exponentially and user becomes competent with the product and wholeheartedly accepts it. During the last two stages, a user might ask for additional functionalities, but be vigilant and do not promise something that is unachievable, as it might detract the user interest if the demand is not fulfilled.

In current pandemic scenario, when our world has seen enormous changes in the ways of working, every organization is focusing on developing agile mindset. Adoption would act as an enabler in bringing-out the agility, as it is directly proportional to the value realized from any product so that organizations can focus on what matters most and get the results faster. In addition to that, adoption KPIs and metrics would also help in expediting decision making process of retaining or decommissioning a product. Undoubtedly, product adoption is becoming an area of interest, and with right measurement techniques, it can help carve out the best from the  product portfolios.

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