Skip to main content

Ad Exchange

Is Beta Better?

At first, it might seem that the concept “minimum viable product,” is a flawed concept. It sounds as if the manufacturer is trying to produce the lowest quality product they can get away with. Any improvements will only come after the launch.

Upon reflection, you will realize that this differs from the method used by some make-money-fast schemers. Their mantra is “Barely good enough is good enough. Get it out there as soon as you can to take advantage of gullible buyers.”

Yet if:

- early users know they’re getting a to-be-improved version of an item,
- developers do tweak and upgrade the product in response to user feedback,

then I have no objection to “minimum viable products.” Indeed, under the label of a “trial run” or a “beta version,” I’ve seen this approach benefit all concerned.

Initial users get something that might be buggy. But it may help them accomplish something they value. They will trade off that they pay less than future customers. They will take pride in being in on something new.

Product developers get the chance to adjust the item for real-life needs and preferences. This often differs from what they had projected in the planning stages.

Comments

Most Read This Week

How Can Criticism Actually Benefit Your Business?

For years, businesses have been told to avoid negative reviews at all costs. The common wisdom was that one negative review could undo the positive impact of dozens of glowing testimonials. However, recent research suggests that this might not be entirely true. In fact, a few negative reviews can actually be beneficial for your business. While it’s true that negative reviews can damage a business’s reputation, they can also provide valuable insights into customer experiences and areas for improvement. A study by the University of British Columbia found that negative reviews can actually be good for business. The study showed that low star ratings and negative comments from unsatisfied customers can have a significant impact on shoppers’ purchase decisions. Why Negative Reviews Can Be Helpful Authenticity: Consumers are becoming increasingly skeptical of businesses that only have positive reviews. A few negative reviews can make the positive ones seem more credible. Customer Insights: N...

How to Craft Credible Predictions

The ability to make reliable and insightful predictions is a valuable skill in a world flooded with information. Whether you’re an analyst, a business leader, or simply someone who wants to understand the future, crafting credible predictions is essential. We can explore the key principles to guide you in creating forecasts that are not only informative but also impactful. Focus on Your Expertise: The foundation of a strong forecast lies in an in-depth understanding of your chosen domain. Avoid venturing into areas where you lack expertise. Instead, focus on your strengths and leverage your knowledge to generate predictions that are grounded in reality. Unravelling the Underlying Dynamics: A compelling forecast goes beyond simply stating what might happen. It delves into the “why” behind the prediction. Explain the causal relationships driving the phenomenon you’re forecasting. Use historical examples to illustrate your points and demonstrate how past events inform your current predict...

Shining a Light on Unintended Consequences

In the fast-paced world of business and innovation, it's easy to get caught up in the excitement of new trends and practices. We're often focused on immediate benefits, overlooking the potential for unintended consequences.  But these hidden side effects can have significant impacts, both positive and negative. By analyzing trends and common practices, we can uncover these hidden implications and gain valuable insights. This ability to see beyond the surface is a hallmark of leadership. It demonstrates a keen understanding of complex systems and a willingness to question assumptions. Let's look at some real-world examples: New-customer campaigns:  A company might launch a campaign to attract a large number of new customers. While this can boost sales in the short term, it could also attract a customer base that the company is ill-equipped to serve, leading to dissatisfaction and churn. Social trend piggybacking:  Jumping on a popular social trend might seem like a good wa...