Twitter Facebook LinkedIn Flipboard 0 Innovative products are a dime a dozen. The real question isn’t if your product is new or different, but whether it will be a success in the marketplace, according to Alberto Savoia. Savoia is the co-founder of Pretotype Labs and a former Engineering Director and Innovation Agitator at Google, where he led the team that launched Google AdWords. While in that role, he first coined the term pretotyping, the innovative strategy for successful product development. Pretotyping, similar to prototyping, is when you build a scaled-down version of a product before making it fully functional. The point is to simulate the experience of having and using a new product with the smallest possible investment of time and money up front. “Most startups fail because they haven’t built the right product,” Savoia noted. “The toughest thing is building a product that people actually want.” In the latest episode of Million Dollar Insights, Savoia explains why all companies should build a pretotype to test every new product before it launches. Listen now: Pretotyping is a very unique way of looking at product development. It allows companies to quickly pivot and change with the marketplace — if your product isn’t fast enough, easy to use, or useful to your target market, pretotyping will reveal the flaws quickly. In this exclusive 27 minute interview, Savoia reveals: Why 80% of new products will fail in the market How to use data to track the results of a pretotype How to apply pretotyping concepts to sales and marketing …and much more. Twitter Tweet Facebook Share Email This article originally appeared on InsightSquared and has been republished with permission.Find out how to syndicate your content with B2C Author: Connor Brooke Connor is a Scottish financial expert, specialising in wealth management and equity investing. Based in Glasgow, Connor writes full-time for a wide selection of financial websites, whilst also providing startup consulting to small businesses. Holding a Bachelor’s degree in Finance, and a Master’s degree in Investment Fund Management, Connor has … View full profile ›More by this author:ACH Crypto Price Prediction 2022 – Is it a Buy?Lucky Block Partners with Dillian Whyte ahead of Heavyweight Showdown with Tyson FuryNFT Pixel Art – The Best NFT Collections for 2022