A survival guide for a wearable tech start-up -product longevity

The Techooos

You need them, they don’t need you!

HOWEVER: They are also the ones that will forget you the easiest. They won’t be the loyal base of customers you need to survive year after year, product after product because they move on to the next thing, and most likely to your competitor.

The Scientists/Academics

They are creatures of habit, and if you become a part of that, you’re set!

20 years in to my longitudinal study and we are still using the same brand of MRI machines because everyone is afraid of changing the protocol, despite having the choice of purchasing a competitors hardware that is far better.

The Family

They are where your revenue comes from, they will get your product as a gift to each other, they will remember your name, even when you’re not on a stage holding a TED talk.

This is your core audience. They are the ones that won’t move on too fast. That will stay if you have;

The professionals

Without a doubt, your product will be used in ways you never intended it to be used and it will be the single most important thing for your company’s survival.

Product development comes from problem solving: either in the product itself or its use. And if your audience, on its own, finds a whole new market for your hardware, oh boy, YOU HIT THE JACKPOT.

The self trackers

If you listen to them, you will effectively meet the needs of all the other categories, and let’s face it, they provide the one thing that you need…..Continuous DATA!

However: They usually have limited funding, so you have to treat them like the VIP that they are and offer them discounts, free software and lots of support. If you can’t do that, Don’t falsely advertise that you can, you will loose their trust.

In conclusion

  1. Realise that your target audience is wide, your product will find a life of its own and be open minded towards the path your company takes.
  2. Don’t make a promise you can’t keep. Start small, and grow, build a community instead of trying to please one.
  3. You don’t have to be flashy, be consistent
  4. Good design trumps extensive content every time
  5. Content diversity trumps flashy content every time
  6. Be patient

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