What is a Product Studio and how it can help my business?
You may be in the market for a new digital product and have seen that you can choose between a product studio and a software developer. They both do the same thing (to an extent) but there are some key differences in what each can offer you.
If you’re not sure which is better for your digital product development, digital transformation or whatever tech process you may be looking for assistance with, then this article should help you find out whether you need a Product Studio or a Software Developer for your project.
Product Studio vs Software Developers - The difference
What will likely end up being the deciding factor for your project is budget and importance of the digital product you’re looking to create.
If you have a big vision and need a team to help you run with it, add their creativity and expertise and focus on asking the important questions to get your project’s vision in line with what can be created then the reality is that a digital product studio would be more suitable compared to a traditional software developer.
That level of involvement does typically mean one thing, however... A higher price tag. If you require a complex solution that needs a custom approach where the planned digital product is integral to your business strategy, then it’s likely you will end up paying more for the end solution.
On the other hand, if what you’re looking for isn’t going to become the cornerstone of your entire operation then you may be looking for a more financially viable option. Software development companies are still likely to be good at what they do and the chances are that they will be more than capable of creating what you’re looking for and for a lower price but their approach would be different.
While actual work quality mightn’t be the trade off, the type of team and their involvement will likely be the biggest difference. With a digital product studio, you get a team of experts who are more involved with other areas of the product creation process beyond simply creating what you ask them to such as validating the idea, mapping the user journey and thorough user testing with product iterations.
What you're looking for
There is definitely a big difference between the approach a product studio and software developers will take towards a digital project. If you’re still undecided about which one is for you then you’re probably curious if what a product studio brings to the table will be enough to warrant a bigger investment.
The extra assistance you will get from the studio tends to involve having a bigger team, composed of senior developers, a project manager, a product owner, a product designer as well as other potential team members that can come onboard depending on the size and scope of the project.
Having a team like this will help you shape your vision for the product and potentially your company overall, help you ensure product market fit while designing the product and create a roadmap that suits your vision.
At the end of the day only you and your own team can decide what’s best for your company but if you need more help deciding, we offer Discovery Workshops to help you see if a digital product studio can meet your needs.