Does Your Company have Digital Products for the Digital Economy?

Newsletter Subscription

Keep up with new content on the site, receive exclusive content and commentary, and learn about activities within the Straight Talk community.

By Karl Smith, Consulting Director, Paradigm Interactions

This article is by Featured Blogger Karl Smith from his LinkedIn page. Republished with the author’s permission.

It should be clear by now to observers of how businesses who are being successful are changing. For them Digital is not just another name for Technology or a Delivery Channel but it is a Pervasive Customer Engagement Productization.

As Technologies come and go, Customers are eternal

What is a Digital Product?

A Digital Product is not the envelope, like a website, app or other container, but the thing that is purchased, transferred or acquired. A Digital Product is pervasive (accessible anywhere on any device, platform and mental model) and modular, designed to be portable, while maintaining all the associated complex information, languages and cultural context, findability, regulatory compliance and trace route for quality, feedback and development.

A Digital Product is the virtualization of DATA that describes the product uniquely (SELF), its history (LIFE) and ecosystem contracts and policies (USAGE)

Where does a Digital Product live?

A Digital Product comes from a Product Ecosystem that has both directly related bolt-on and ancillary upgrades and other domain related tangible and intangible Products and Services.

How do Businesses get Digital Products?

Digital Products are created by responding to clear signals from people in the market. 

Digital Products don't invent themselves

Creating Digital Products in unqualified hands means someone tells you an idea, you pay for it, they walk away and then you change the the KPI's because the idea you bought has no foundations and does not deliver to your business goals and objectives. 

Digital Products always have a value model, ROI model a planned life and death built in

Though not always evident when first launched to the customers a Digital Product will have planned financial or gain attributes. They will be easily acquired by their intended customers and be desirable by others.

Originally published on LinkedIn