Written and produced by Maurice Starr, it was the fourth and final single from the group's third album, Step by Step, released in the fall of 1990.

It contains shared lead vocals by Danny Wood and Jordan Knight.

After having scored another big hit with the title track and its well-received top 10 follow-up "Tonight" from their number one album Step by Step, the group's momentum subsequently slowed down in the fall of 1990.

Largely blamed on overwhelming media saturation, which included an animated cartoon series during the same period, a growing public and industry backlash against the group ensued.

Upon the release of "Let's Try It Again", many radio stations rejected the song, while others quickly dropped it from their playlist after a few weeks.