It’s not always where you look first
Just a quick lesson I learnt from another product recently.
“The largest market for your product isn’t always where you think it is.”
Or in other words the people you start out designing your product for won’t necessarily be the people who generate the most sales.
The product in question that got me thinking? Greeper Laces.
Greeper Laces are nylon shoe laces that never have to be untied and re-tied. Once they’re laced up they’re laced up. They do this using a special toggle.
How exactly they work isn’t that important. What is important though is who they were designed for and who is using them.
Who they were designed for
They were initially designed for the inventor’s children and other children to help them put on and take off their shoes unassisted.
Who is using them too
Greeper laces are incredibly popular in two other completely different markets: the elite athlete market and the disability market.
Elite athletes, particularly triathletes, like using Greeper Laces because they allow them to very quickly put on and take off their trainers during an event; dramatically reducing their transition times between sports (e.g. switching from swimming gear to cycling gear and from cycling gear to running gear). This isn’t what Greeper Laces were designed for but it’s something they’re very good at!
Disabled people, particularly those who have trouble reaching their feet, those with reduced co-ordination and those with the use of only one hand, also really like Greeper Laces because it makes the task of putting on and taking off shoes easier. This gives them more independence.
What you consider the “main market” for your product won’t necessarily be the one in which your product offers the most value. Therefore it’s worth launching your product into as many markets as possible where there might be a fit. Otherwise people might miss out on the value your product offers and you might miss out on the extra sales that would come with this!
So ask yourself the following:
What would you consider is the main market for your product and why?
Are there other markets out there you hadn’t thought of that your product might do well in?