How Do You Know When It’s Time to Let Go of a Product or Service?

As challenging is it can be to develop great new ideas, it seems even harder to discontinue a product, service, or event. Reflecting on what is really working and not working is crucial to the future of any organization. Nonprofits and associations also need to keep an eye on whether each membership benefit and program is still serving its purpose.

Whether your products, services, and events are profitable is the obvious, critical measure but other factors include:

  • stop red_buttonWhat do your most important audiences want and need? What problems do your key customers or members need help solving? Do all your current products and services still meet these needs?
  • Given changes in technology and how people live and work, are you delivering the right products and services in the right way?
  • Do they fit with your organization’s mission and priorities?

Products developed a long time ago may no longer fit those parameters but it can be very difficult for staff to step back and have an objective perspective, especially those who are closest to developing and maintaining them. It is natural for people to be emotionally invested and to fear change and how it might affect their jobs.

Graph ImagesUsing data that clearly illustrate the trends over time for sales, usage, expenses, and net revenue can help keep the conversation on the facts. Look at the role the product was designed to serve versus what is currently happening, and how the marketplace has evolved and is likely to change in the next year or two.

Honestly assessing what is working vs. what might be best to transition to a different iteration or to discontinue is critical to the future of the organization. It can affect people’s perception of your brand if they think you are stuck in the past with outdated products. Consider how discontinuing or revamping a product that is no longer fruitful can free up time and resources for exciting new ventures.

If you decide to discontinue or change the product, a careful transition plan that involves all affected staff is critical to success. Think through potential pitfalls and reactions and be prepared to be responsive, caring, and follow through effectively so that your provide as smooth a transition as possible. Testing the transition plan either casually or more formally with a small group of customers can help you anticipate issues and questions that might arise and how to best communicate the changes.

How do you periodically review your products, programs, and events to ensure they are still compelling and worthy of continuing?

One response to “How Do You Know When It’s Time to Let Go of a Product or Service?

  1. Pingback: Saving Time and Effort to Free Up Energy for What Matters Most | Lisa Danielpour

Leave a Reply

Your email address will not be published. Required fields are marked *