what one can do if product is selling way too low (lets say 1000% less then expected in first 3 month? but have followed at least 80% of the business plan during the product development.
You should really read Eric Ries "the lean startup". Most people would probably put more money on marketing but the right thing to do before you invest more money on your project is to check honestly why people don't buy your product: Means to communicate with your buyers and potential buyers (the ones that didn't buy your product) and ask them about expectations \ product experience and so on...It will probably take you out of your BP but this is a good way to to adapt the product to potential buyers and increase sales.
Hi Niki - not a lot of information to go on here... I can provide a more detailed review of your situation if you are interested. However, its unfortunately all too common to find out that assumptions made in the b-plan are not aligned with reality. I would reach out to the Customers you do have to validate assumptions you made about product-market fit, pricing, channels as a priority in your investigation. If you are solving a problem Customers have and care about enough to purchase at the pricing you have set and those Customers are satisfied with your product experience, the next validation question would be how many of those Customers are there and are you effectively reaching them through your marketing efforts.
This is expected and you should be in a position to see that at the business plan development stage. You actually needed to base your figures and plan on a series of market feasibility studies. This will give you an image of the likely situation. It will also lead you to identifying the risks involved in that particular industry and hence it puts you in a position to mitigate against the risks. Some of the risks may involve the competition who already have a strong positive footing in the market, so how do you compete favourably in such am environment
.... That could need that you go back to the product development page and re-analyse. Strengthen various aspects of the product and keep on focusing. It may pick sooner than expected. Learn to learn everyday from every other challenge. Afterall, it is the rise after the fall that will define you
Drop a link here of your drop (or message me) and maybe i can have a look and come up with something. Btw that is what i do https://helpscalee.com
Niki! Are you talking about your tourism mobile app product? Or something else? First 3 months? It's too early. Depends on what is your business and how you launched it.
Obviously you need more exposure. Do you have a team? Or are you flying solo?
Press release, social media marketing, partnering.
If it's a good product, it will grow, if it disappointing then it's going to die.
Good luck! And good on you for trying.