Financial Modeling · Financial analysis

what one can do if product is selling way too low then expected in first 3 month?

niki Getsadze Co-Founder - Audio Guide Georgia

Last updated on February 2nd, 2018

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.

Esther Tommer Independent industrial designer - Founder and CEO - Cakely

February 3rd, 2018

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.

Erica Singh Patalysical AI developer

February 2nd, 2018

Depends on the segmentation honestly. And the niche or USP it brings to the market. Or what the product really is! But since none of that information is available. I would suggest spending more on branding and getting a lot more reviews around it. Make sure you follow up to get reviews. Or atleast give an incentive to customers to review your product. E.g. 10% off a purchase / referral links / coupon codes etc. People pay a lot of attention to how their product experience has been. And PR would be the next move forward. Get blogs, magazines, newspapers , influencers to talk about the product and what their experience is with it. You can start with a campaign that revolves around customer reviews. For e.g. let’s say. A Facebook carousel campaign / video that talks about the highlights of the reviews. If you want any other advice. Please DM. But right off the bat, you could give this a go.

Paul Butler Helping Businesses Take Flight : CEO, Managing Partner, COO, CTO

February 2nd, 2018

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.

Geoffrey Abung'ana Co-founder @the pearl credit limited, lecturer of economics, banker, consultan,academic writing

February 2nd, 2018

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

Anjani Shivam Building business from scratch, Part of three growing startups, developer & sales guy

February 3rd, 2018

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

Ei 李 Are you interested in education + entertainment adventure?

February 4th, 2018

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.