Benefits of Creating an Add-on Instead of a New Product or Service

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Companies across all industries are finding ways to make add-ons work for them, and this could be your next step in reaching users.

Serial Tech Entrepreneur, which has established multiple 8-figure companies since 2000, set out to build  Missed.com telecommuting solutions platform.

Creating a new product from scratch may seem exciting, but add-ons, a software extension,  can help you launch and distribute your service to many people in an easier way, meanwhile, saving your time and effort.

When deciding whether an add-on is preferable than  full product development plan,  you should identify if you want to spend resources, time, and effort building a product if it already exists on the market – but there are a few features missing? If your intended product isn’t differentiated enough to include things that the add-on can’t provide, it is highly unlikly that your answer would be positive.

There are five clear benefits to consider when considering building add-ons to improve your services instead of creating a new product.

1. Reliable platforms. If you  focus on adding to existing platforms, then  the most reliable platforms are ready to be choosen as a base. Users will have an opportunity  to try  it faster as an add-on compared to  downloading an app or software to access a new service.

2. Installed user base. Usually, there are many users who use similar services on the platform.  Thus, it provides established and trained users with  a more smooth transition from a basic idea within an add-on to a structured service.

3. Service updates. If a company implements an add-on, users can easily access the updated services. This is often easier than updating the product as a whole.

4. Less time spent on product creation. Creation of   an extension is much easier than the creation of  an application. Of course, it depends on your goals as well.  For example, if you want to create a new filter, you are not often charged by platforms to create it. If you try to create a filter within  your own application, it may take longer and more effort.

5. Co-operation. It is simply energy directed towards a common goal. Both you and the platform on which you create your product strive to provide solutions to the problems users encounter. Therefore, the chances are high that both of you will complement each other very well.

If you’re wondering where a potential add-on might fit, there are some popular platforms for it. Depending on what you are creating, you can find any of them suitable for the aims of your add-on.

Internet browsers

Browsers like  Google Chrome, Firefox, Edge and Opera can help you publish your services as extensions. They enables you to update your services without having to update your browser extension.

Extensions may also offer the premium version of your services and charge additional fees for doing so. In some cases, the browser may take a cut. Google is cutting the total transaction by 5%, but the platform has thousands of users and we need them in the tech sector.

Motion extension can be an   example for  an extension that enhances an existing product.  In their extension, they focused on improving the existing service provided by the browser by supplementing it with their own ideas for how users should browse.

Video conferencing applications

These platforms have seen a steady increase during Covid-19 period. While video conferencing applications have become a new means of human interaction, in some ways there has been less interaction in telecommuting and learning.

And a startup called Mmhmm is a company that has found a way to add existing platforms instead of competing with tech giants for the users of video conferencing.  Their add-on aims to improve interaction on these platforms, rather than directly competing with them.

Social media and AR apps

Filters are now a standard feature for  most social media platforms. Filters are generally fun; however, they can be useful to you from a brand marketing perspective. Several brands and artists partner with media platforms and create filters to promote their newly launched  products.

There are even improvements within apps themselves that allow other companies to add them. Snap Minis on Snapchat is one of them and attracts users by combining services from various companies. For example, Headspace allows Snap users to connect with friends and meditate with them. Atom uses Snap Minis to enable users to book movie tickets.

Voice and speech recognition devices

According to the data, a 2018 report predicts that the global speech  and voice recognition market will surpass $ 31 billion by 2025. There is no doubt that voice technology is becoming part of the future.

Your company might have a product idea that will integrate well with speech recognition devices, but instead of developing a piece of   hardware yourself, you can add to existing products. For example, Headspace uses Alexa by introducing  a skill for the device that allows users to access their services through their voice.

If building a product from scratch seems overwhelming, add-ons in the form of browser extensions, app extensions, and even social media filters offer  a way to provide  value to users without a long and tedious product development cycle. Building add-ons to deliver the desired feature to the public can save you time and money. Companies across all industries are finding ways to make add-ons work for them, and this could be your next step in reaching users.

So, consider the above-mentioned advantages when you have an idea of creating add-ons rather than updating the product as a whole.

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