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A custom ChatGPT model that helps accelerate product innovation Watch on YouTube TLDR In this episode, I interview Mike Hyzy, Senior Principal Consultant at Daugherty Business Solutions. Instead of focusing solely on today’s customer problems, product teams need to look 2-5 years into the future.
The core focus of these activities is on thorough marketresearch, continuous customer engagement, and strategic product development. This led him to research and identify 19 core activities specific to product management, with clear separation from product marketing, sales, and go-to-market functions.
He shares practical insights from the Product Development and Management Association (PDMA) framework and explains how product managers can use these principles to improve their product development process. Portfolio Management During our conversation, Jack shares valuable insights from managing product portfolios at Sony Ericsson.
Instead of advocating for feature-rich products or complex innovation frameworks, she emphasized the power of solving one problem exceptionally. Anya’s development of Taelor offers valuable lessons in how to validate and expand upon initial product insights. This led her to explore whether others faced similar challenges.
Doug offered practical solutions through three powerful frameworks that can transform how teams approach innovation and problem-solving. Doug shared six specific types of stimulus that teams can use to spark innovation: Patent Mining: Exploring public domain patents for solution frameworks.
The Customer Service Gap Model By ADRIENNE TAN In competitive markets, delivering superior customer value is a top priority. It’s not just about creating a great product—it’s about ensuring the entire customer journey, from initial interaction to post-purchase support, exceeds expectations.
From marketresearch to roadmap prioritization, AI is reshaping how PMs operate, make decisions, and deliver value. MarketResearch: From Manual to Machine-Learned Marketresearch has always been a cornerstone of product strategy. UserFeedback Analysis: From Chaos to Clarity Userfeedback is noisy.
What happens when you build a product or service around what you think potential customers want, only for them to buy something else? For starters, it shows you dont know your customers well enough. But worse than that, it leads to lower revenue, failed products, and plummeting customer loyalty. The short answer: yes.
Whether you are a startup evaluating your first development project or an enterprise looking to optimize your delivery model, this article provides clear, actionable insights to make informed decisions. This can include: Product strategy: Roadmap definition, marketresearch, feature prioritization.
These knowledge areas include product innovation management, strategy, portfolio management, process, design and development, marketresearch, and culture and teams. Process The process knowledge area covers the various methodologies and frameworks used to guide product development from idea to market.
Leveraging the benefits of combining these two approaches, companies can maximize their insights and make data-driven decisions that are grounded in real-world understanding. Marketresearch focuses on understanding consumer behavior and preferences in order to inform marketing strategies and business decisions.
I wanted to share with you the framework I use when doing this. Below is a brief overview of the framework that I use and a few signs of where you should start if you want to run this exercise yourself. Others are SaaS companies that are scaling or have scaled recently and want to ensure they are doing it in the best way.
Vikas was able to provide me with a framework for developing product strategy, which ultimately revolves around answering the fundamental question of “how do we win?” This framework covers five major questions: What do we aspire to be? Don’t hesitate to show your strategy documents to your most trusted customers for early feedback.
What are the different marketingresearch methods product marketing teams can use to inform their strategies? You will also learn about different types of marketresearch and how to conduct it step by step. They also enable targeted user engagement and improve the effectiveness of marketing campaigns.
Stefan Röse breaks down how Quantilope is pushing forward customer development and the consumer research field. Perhaps that’s why some research experts say, “Data is the new currency.” Quantilope specializes in consumer insights technology, offering a platform to help businesses understand what consumers want and need.
If you wanted to know your customers’ gripes and praises in the past, you had to assemble a series of questions anticipating their possible answer. It’s all part of a customer-centric philosophy that emphasizes empathy and self-awareness over a staid corporate vision. But there’s a better way now. Short on time?
Launching a product without a well-defined product strategy framework is similar—you risk wasting resources without a clear path to success. So, how do you outline a product strategy framework that is the foundation of product-led growth ? Outline a marketing plan to promote your product across multiple channels and drive sales.
She describes the role as being at the intersection of the user and the business, but in a place where the stakes are much higher. She condemns the SAFe framework, which separates the role of product owner and product manager, asserting the former as tactical and the latter strategic. Customer and marketinsights.
Before the advent of agile frameworks like Scrum , a product person—the product manager—would typically carry out the marketresearch, compile a market requirements specification, create a business case, put together product roadmap, write a requirements specification, and then hand it off to a project manager.
ODI shifts focus from generating ideas to understanding and addressing customer needs, leading to more successful products and innovations. This failure led to a crucial question: What if we knew beforehand how customers would judge our product? ” This question led to valuable insights.
They’re well crafted to help you gather valuable userfeedback. Then, you’ll need to determine your desired feedback type – quantitative or qualitative and identify the audience group best placed to provide high-quality responses. What insight do you seek from the survey data you’ll acquire?
We need to figure out how to use AI to make products that customers will love, while also dealing with all the new things AI brings to the table. ” Logical Reasoning Prompts Encourage AI to use logical reasoning by giving it examples or frameworks. For example, “Here are three product ideas.
A product marketingframework is like a compass that guides you through the complex, fast-paced world of SaaS. From initial launch to ongoing product management , this framework acts as a map towards sustainable growth. However, selecting a framework or creating one from scratch can be very confusing.
As product designers, we aspire to build product experiences that are not only useful (solve a real pain point for our users) and usable (effortlessly allow our users to accomplish their goal), but ultimately delightful (elicit a positive emotion from users). Meet Your Happy Chemicals. Building Delightful Products.
What’s the best way to ensure your product hits the right chord with users? A user needs analysis conducted with product analytics data lets you build products that address user pain points and exceed their expectations. In this article, we dig deeper into what user needs analysis is and how you can get started with it.
It’s marketing. Without marketing, even the best apps struggle when it comes to customer acquisition and discovery. You don’t need a big budget or a dedicated marketing team to market your app. App promo videos take your marketing to the next level by bringing your messaging to life. The bad news?
After all, when you know exactly what metrics are growing, what market leaders are betting on, how and what budgets are spent, what marketing solutions are chosen, what practices should be implemented and what to focus on in the near future, life becomes better. Marketers succeed in personalization in real time.
How is it useful for user onboarding? The product management jobs-to-be-done framework relies on the idea that the customer is ready to spend money on a product only when it helps them complete a particular job. Tony Ulwick has invented the model to help companies better identify and meet the needs of their customers.
They’ve developed an insights platform to facilitate collaboration between marketresearchers, UX professionals, marketing managers, and product leaders. You have to understand finance, technology, and customers. 11:49] How did your customer interaction skills help you along your journey to CPO?
As product managers, it’s our job to develop solutions that solve real problems for our customers and create value for the business. One effective approach is to use a hypothesis-driven product validation framework to ensure that your efforts are focused on the most important questions at the right time.
Bob Moesta pioneered the Jobs-to-be-Done (JTBD) framework in the mid 90’s, alongside Harvard Business School Professor Clayton Christensen. In short, JTBD is a research process that helps uncover a customer’s motivation for buying your product – the “job” your product is“hired” to complete. Short on time?
Candidates are expected to engage with the question critically, asking clarifying questions, applying analytical frameworks, and building on their assumptions despite not being market experts on the topic at hand. These frameworks help organize your thoughts and demonstrate your ability to approach complex problems systematically.
Good product teams understand that their customers’ needs and behaviours are ever changing and the way to truly predict what impact any update will have is to try it on a small set of real customers. Since experimentation has become a discipline on its own, there are established best practices for cross functional teams to follow.
It’s a framework to make quick, painless, and informed judgments about your idea so that you know whether it’s worth pursuing. Marketresearch Every product design cycle should start with a robust research phase. For example: Facebook groups: Look at competitors’ customers’ profiles to pull demographic info.
“It will win with the customer by doing a series of small bets that give it insight on how to build that long-term customer relationship.”. Whereas many organizations have deep and meaningful expertise doing large-scale marketresearch, their findings are hitting critical limitations.
With the right product research tools, you can dissect vast pools of data, gather actionable insights, and create products that align directly with your user’s needs. But how can you build the right product research tech stack to achieve your product growth goals? Qualtrics. UXPressia. Productboard.
Are you overwhelmed by the sheer volume of customer data and unsure how to analyze it effectively? Customer segmentation analysis allows you to break down your users into distinct groups and gain valuable insights into them. – Needs-based — what your users are looking to solve with your product.
A good grasp of the customer value chain is essential to product-led growth. Having a clear idea of how your solution adds value to your customers’ lives is the only way you’ll be able to clearly communicate the core benefits and get your value proposition across. What is the customer value chain concept?
It helps organizations focus on the Determining which features to include in a product roadmap can be challenging with constantly evolving customer needs and several opportunities chasing scarce resources. This article will dive deep into the concept of feature prioritization and introduce the top frameworks for successful product management.
Read on to see how to apply this framework at every stage of your product development cycle and drive product growth. TL;DR The build-measure-learn process is a lean methodology that involves creating a product, measuring its performance, and using the insights gained to make informed adjustments , in a repetitive cycle.
Examples of different prioritization frameworks. A product prioritization framework helps you maximize customer value and deliver the best ROI by encouraging methodical examination of data before making decisions. Customer requests aren’t enough to make product decisions. And what to do after prioritizing features.
You might be super excited to go away for 2–3 weeks, conduct marketresearch and come back with a colourful looking roadmap. Most companies follow this structure: Ideas: are gathered mostly by the PMs from various sources, customers, support, customer service, and markets. Example: Sales, Customer Support.
In the article, we’re looking at the responsibilities of strategic product managers and how they can use data effectively to shape product strategy and deliver delightful experiences to users! Marketresearch, differentiation, and positioning are necessary to prepare for the product launch. Are you ready to dig in?
This makes sense given the likely resource constraints and the value to be gained from getting in front of customers from day one. As Jason Lemkin puts it , “The CEO/founder should close at least the first 10 (or 20 or whatever) customers. What matters is that somehow, someway, you still get those 10 paying customers closed.”.
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