Adopt an iterative approach to agile development before making large investments

New Ideas in MarketingEssential news for marketers, summarised by YouGov
September 24, 2020, 1:42 AM UTC

Businesses need to standardise and streamline process to deliver products that address evolving customer needs.

Combining insights from market and competitive analysis and customer inputs can lead to both short-term and long-term opportunities to create new revenue streams and expand the organisation’s footprint. But agile development demands an iterative approach to define the opportunity and solution to make informed decisions before making any large investments.

Companies should enable cross-functional teams to review progress and determine the best course of action. They should add decision points at the end of each stage of the process to achieve stronger alignment and adaptability across teams.  

Businesses should consider new ways of gaining consumer inputs and ensuring that new innovations can solve business problems. They should further ask customer success teams to collect thorough feedback throughout the product commercialisation and lifecycle process. 

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