This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
The Critical Role of ProductStrategy When Money Is Scarce (Part 1 — Seed) A good productstrategy is something every company needs. When VCs and customers aren’t throwing money at whatever you tell them, it becomes a critical tool. heard my explanation and immediately said — ‘oh, you are doing productstrategy’.
Ford’s famous quote tells you exactly how he wanted it done: “Any customer can have a car painted any color that he wants, so long as it is black”. In our world, this would have been considered a great productstrategy. As you are reading this, replace Ford’s car with your own product. What was so special about it?
SplitShire-London-Collection-210062 When I work with companies on sharpening the value proposition and refining the productstrategy, one of our information sources for the process is their existing customers. Who they are, why they chose to work with the company, what value they are getting out of the product, etc.
Here we’ll give you some guidelines and best practices, whether you’re just beginning to include usability testing in your processes or are setting out to up your usability testing game. Usability tests check if people can use a product. What is usability testing? What is the purpose of usability testing?
The Critical Role of ProductStrategy When Money Is Scarce (Part 2 — Rounds A, B, and Later) When you start selling your product, you feel great, but that doesn’t last for too long. A productstrategy is often the missing link that would convert your efforts into actual revenue.
The Critical Role of ProductStrategy When Resources Are Limited (Part 2 — Rounds A, B, and Later) When you start selling your product, you feel great, but that doesn’t last for too long. A productstrategy is often the missing link that would convert your efforts into actual revenue.
Creating a solid productstrategy is an ongoing process, not a one-time effort. Once you created a first draft that you are happy with, it’s time to bring it to the market and iterate according to the feedback you get. But how can you test a strategy? It’s actually simpler than you think.
If you are on the journey toward product-market fit, you know it’s not easy. Every new product has its own fit to find. One of the hardest challenges of any product and any startup is of course reaching product-market fit. product-market fit under the hood. So here it is?—?product-market
Productstrategy is one of the most important tasks of the product leader, and definitely one of the hardest things to do. This should be your first step into productstrategy. Since productstrategy is so hard, many companies simply skip it. Even higher-level goals can be refined and detailed.
Bad Feedback Doesn’t Always Mean Your Product Is Bad Bad productfeedback is a bummer. But contrary to what you might think, it doesn’t always mean your product is bad. Here is a quick guide to strategic thinking about productfeedback. The feedback on all three talks was great.
The fact that your potential customers have a problem, doesn’t mean that they are willing to do what it takes to solve it. Each one ran a series of tests over a few hours, and told me I’m a good fit for the surgery. As a product leader, you must define not only the problem you are solving but also for whom.
helping the company transition from a founder-led product approach to building a strong, sustainable product culture. I have been helping her reshape how product management is perceived in the company by building a solid productstrategy, team structure, roadmap, processes, and more.
Customer experience isn’t just for products. As an employee, you provide customer experience to your manager, your colleagues, and your own employees. There are many things to take from it, but I mainly took the fact that you need to think about the customers from their point of view. Is it a great one?
A good productstrategy helps you to acquire happy customers and retain them over time. Here is how productstrategy helps you overcome them. Photo by Braden Collum on Unsplash Working on productstrategy is an iterative process. At this point, the importance of the process is very clear.
Between interfacing with multiple teams, coordinating release schedules, prioritizing customer happiness, driving the mobile product roadmap, messaging product announcements internally and externally, and myriad other activities, the list of “to-do’s” for mobile product managers may seem endless, and the job is ever-changing.
It took me time to understand that I need to present myself as a product leadership coach and productstrategy expert rather than a consultant. The way they understood the term ‘product’ was very straightforward — the actual bites of code that are released to the world for people to use.
A successful product can only work if people actually buy it. But too many product leaders focus on the product itself and not on what makes it sell. As product leaders you cannot ignore the full customer journey to make sure it makes sense. It appears in your product itself. Hint: it’s not features.
Spend an adequate amount of time researching the answers to the questions above. You need to research deep because what you see on the surface isn’t going to give you the answers. For example, even if potential customers tell you they are willing to pay for something, you can’t know for sure until they are actually paying for it.
Was it entirely in the name of research? But using the Oculus Quest did get us thinking about what goes into Customer Validation for VR and emerging tech. Below is a summary of our discussion on the testingstrategies that bring delightful VR products to market. Collecting Feedback from Actual Customers.
Thinking and talking about the product definitely falls under this category. When it comes to the actual work products that product managers deliver: wireframes and user stories. Product Definition Itself Is Not Strategy So why do the CEOs say it is an important, strategic role? and crosses all domains.
As a product manager , you must understand strategy and business, but your responsibilities as well as your day-to-day activities are focused more on execution. To make a real impact as a product leader, you must engage yourself in everything it takes to make your product a business success.
Your product will always have bugs, and you will always need to chase and fix the important ones. But sometimes, the really important bugs are not showing in the product itself. These are bugs in your productstrategy, and if not fixed, it will be very difficult for your product to succeed.
Creating a Solid ProductStrategy One of the CEOs that I work with as part of my consulting services recently reflected with me on the process we went through for creating their new productstrategy. It was a lengthy process, with quite a few trials and errors, until we found the right strategy.
Redefine Success As a product leader, your end game is different than the one you had as a product manager or even as a group leader in larger organizations. You can no longer define success as having a good product, or as satisfying sales’ or users’ needs. The productstrategy plays a critical role here.
The Product Leader Certificate requires a little more PM experience and demands competence in DevOps, data analytics, and hard technical skills. Key takeaways include productstrategy , userresearch, and the UX/UI design process. It has access to the most training options, making it more convenient.
Since we played in the e-commerce search space, the list included almost exclusively e-commerce search engines, and one was a generic search engine that seemed to be a good fit for e-commerce apps. With any of our customers. I’m sure that your product, too, has a generic list of competitors. Not a single one.
But to truly solve customers’ problems, founders and product leaders must think beyond what they already know about the product. But that leads to another problem — how do you know which product to create? How to solve a certain customer problem? Real invention is hard, that’s why real innovation is hard.
The competitive analysis itself is a major part of your productstrategy efforts, and here is how to do it at the right level. When I work with the product leaders of the companies I mentor on their competitive analysis, they usually come up with a comparison table for each competitor, that includes mostly features.
There are many ingredients needed in order for your product to succeed. Not all of them are related to your product, or even to your product’s domain. Your customers’ ecosystem has more impact on your ability to succeed than you might think. Since I’m a business customer of Google, I decided to open a support ticket.
Photo by Pixabay I recently led a product-market fit workshop at a known company in the Israeli tech industry. It is a well-established company, a leader in its domain, but it still needs to deliver new products to the market so product-market fit is a very relevant topic. But is it enough?
We help them with their productstrategy as well as building a strong product organization. That, of course, includes helping them hire the right people, and specifically the right product leader. The Broader the Better The product leader’s role includes much more than managing the product team and the product work.
I see my consulting customers having to make the exact same decisions. Last month, for example, I met a startup, which had a good indication from the market that their initial product direction was viable. The people they talked to wanted to test their product, they loved what they saw, and were intrigued to hear and get more.
We have three distinct products: the ad-supported video streaming platform, which is what we started with four years ago; a subscription version of the business with ad-free content; and exclusive original content. We also have a kid’s product, with ebooks, video games, audio stories, videos, movies, etc.
Every now and then, early-stage founders approach me to hear about their product idea and give them feedback. This mostly happens with products related to the product space itself — products for product managers and product teams. I see them everywhere, and apparently, they see me too.
The journey to product-market fit might seem random, but it actually has a well defined high-level structure. Here is part two of the guide that will help you find your way to product-market fit. This is an important principle in the product-market fit journey.
When I first started teaching product management (at IDC’s Adelson School of Entrepreneurship ), I needed a way to break down strategic product thinking into distinct components that would help people understand and focus on one aspect each time. It is the separation that helps you sharpen your strategy. How detailed?
But as a product executive, you must take it to the next level — and this time use it with the entire management team. Image by Denis Doukhan from Pixabay In the CPO Bootcamp we talk a lot about productstrategy. One of the things I say about it is that strategy starts with the goals. I’ll start with the former.
SaaS businesses tend to have heterogeneous customer bases, which means you will probably have customers with different needs. Therefore, you should set different, specific goals for them inside your product and segment them to better understand their needs. A goal is like a milestone that you want your customers to reach.
But most of all, it is exciting because it gives you an opportunity to see your strategy coming to life in short cycles with immediate feedback loops. The general process of product-led growth starts with mapping the customer journey?—?the You can start by making small changes to your product and marketing (e.g.
at the product level, the solution level, or the problem level (that is, you are tackling a problem almost no-one else does). Each level requires a different marketing strategy. While the marketing strategy is typically not for you as a product leader to define, the unique value proposition definitely is.
Photo by Iain Kennedy on Unsplash When I was a product lead at Imperva, there was a feature that engineering kept telling me required a rewrite. We were monitoring our customers’ databases, and the architecture caused a severe performance impact on the databases themselves. Its entire architecture was bad.
For example, you gain nothing from having a new product if the company can’t sell it to the market, so your roadmap must address also the sellability of the product. not necessarily in planning it but in making sure that it is fit for whatever value the company is looking to bring to their customers.
Your product sells not for its features, but for the value it brings to your customers. True product value lies in understanding and meeting the deeper, often unspoken needs of customers, beyond just functionality. Here’s a three-step approach to ensure products connect with users on a more meaningful level.
Here are three reasons that companies often use to explain why PLG is not a good fit for them. While you can’t do PLG without being and product-led company, the other way around is not necessarily true. In a product-led company, the product team has a strong presence in the business organization. Then, they see a demo.
We organize all of the trending information in your field so you don't have to. Join 96,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content