The Product Strategy Cycle

Roman Pichler

Traditionally, strategy and execution are often viewed as separate, sequential pieces of work that are carried out by different people. For example, a product manager might determine the product strategy and one or more development teams might be tasked with executing it.

4 Ways to Level-up your Product Strategy

Mind the Product

Developing your product strategy and communicating your product roadmap is a continual improvement process. The post 4 Ways to Level-up your Product Strategy appeared first on Mind the Product.

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Rediscover the Forgotten art of Product Strategy

Mind the Product

A strong product strategy is often neglected because of the absence of any strategic thinking in product teams. What can product managers do to make sure they give their product strategy the attention it warrants? Tanya shares her ideas for nurturing a strong product strategy from this year’s #mtpcon London Product Leadership Forum. But today many, if not most, product teams fail this very first test. Agile is not a strategy.

Establishing an Effective Product Strategy Process

Roman Pichler

Why a Product Strategy Process Matters. An effective product strategy process should ensure that a valid product strategy and an actionable product roadmap are always available—that a shared and valid approach to achieving product success is available at anytime, as the picture below illustrates. In the picture above, the product strategy describes how a visionary, inspirational goal is attained. Look for new market trends.

Meet Your Goals with a Practical Product Strategy

Speaker: Nils Davis, Principal, NPD Associates

Whether you manage a feature, a product, or a whole suite of products, you likely have some goals that you're trying to meet. But do you have a strategy? Strategy and goals are different. It's your strategy that allows you to make decisions that help you meet your goals in the first place. For example, if you want grow your revenue, your strategy may be to enter a new market - and you may decide to make your product stand out in that market by adding analytics. If you want to have an articulated strategy that you can use to make decisions, stay on-track, and meet your product goals, this is the webinar for you! Join Nils Davis, author of The Secret Product Manager Handbook, as he explains how you can get your team aligned to a practical product strategy.

Product Strategy Lessons From Henry Ford

The Product Coalition

In our world, this would have been considered a great product strategy. As you are reading this, replace Ford’s car with your own product. Marketing needs to know exactly who the target audience is and what value proposition to talk about. No product serves everyone.

Creating a Product Strategy – Is it Worth the Effort?

Proficientz

Is creating a product strategy worth the effort? Creating a product strategy isn’t easy for product managers. Furthermore, executives rarely think that enhancements to a product are strategic, meaning they won’t drive significant revenue.

Leading product strategy and execution

Lead on Purpose

There are many moving parts to product success, including understanding your market and the problems customers in the market face, … Continue reading → Leadership Product Management Team Building Trust collaboration discipline execution markets roadmap strategy success value

What is Good Product Strategy?

Melissa Perri

“What is your Product Strategy? YOU NEED A STRATEGY.” When I replay this scene in my head, I can hear the CTO very audibly yelling (slash pleading) with our product team. This didn’t sit well with the CTO because in reality he didn’t want a strategy, he wanted a plan. This is the way we were taught to think about Product Strategy. To create a front of the funnel website that markets to our target users and converts them.” Product Managemen

Global Product Strategy by Mel McVeigh

Mind the Product

Mel McVeigh is the Product Director at Condé Nast , one of the largest publishers in the world, responsible for brands such as Vogue, GQ, and The New Yorker. In her ProductTank London talk, Mel takes us through how to create a global product strategy. She focuses on the following key points: Strategy. Strategy. She needed to combine the product and technology from each company and align the customer strategy by placing multiple business models on one tech stack.

Embedded BI and Analytics: Best Practices to Monetize Your Data

Speaker: Azmat Tanauli, Senior Director of Product Strategy at Birst

By creating innovative analytics products and expanding into new markets, more and more companies are discovering new potential revenue streams. Join Azmat Tanauli, Senior Director of Product Strategy at Birst, as he walks you through how data that you're likely already collecting can be transformed into revenue!

Educating the Market Starts With a Need

The Product Coalition

Educating the market is hard enough as is, but there is one thing without which you cannot succeed. The one thing all these ways had in common was that the underlying need, the problem that you want to solve for your customers, was there regardless of your product.

A Practical Guide for Product Strategy From Almundo: A Case Study:

Mind the Product

Eighteen months ago travel tech company Almundo started to refine its processes to become a product-driven company. Our goal was to define how we would set and communicate the company strategy, and how that strategy would lead OKRs and backlog definition. Product (and company) strategy is the backbone that guides product goal-setting and roadmap definition, although it’s sometimes overlooked or confused with having a vision. Blue Ocean Strategy – W.

Backstreet Boys, Zork, and Product Strategy

Gainsight

At our first-ever Pulse for Product event, we got inspired by this idea of video games, the nostalgia of 8-bit classics, the 90s (or really any year excluding 2020 – the bar is low), and leveling up (which ultimately became our theme for the event). But what’s life in Product like now?

The art & science of Product Strategy in a crisis, disruption or acceleration

BrainMates

When everything around you is changing, what’s a Product Manager to do? In a Q&A a couple of months ago, someone in the (virtual) audience asked if they should be working on their strategy now, or if they should wait until things calmed down again. Read more about Product Strategy.

What Is (and Isn’t) Product Management?

Speaker: Steve Johnson, VP of Products, Pragmatic Institute

Product Management is one of the most exciting - and most misunderstood - functions in technical organizations. Is it strategic or tactical? Is it a planning role or a support role? Many product professionals are unclear about what is (and isn't) product management. After all, product management spans many activities from business planning to market readiness. In this session, we’ll examine many product activities and artifacts for product strategy, planning, and growth, and introduce a simple tool that you can use in your organization to clarify the roles of product management and others. Steve Johnson explores the many roles of Product Management in this fun talk focused on why product managers should obsess on problems instead of solutions.

How to Ace Google’s Product Strategy Interview

PMLesson's Ace the PM Interview

This is a guest post from Alexis and Adrienne's Product Managers at Work. When I interviewed for Google several years ago, the Product Strategy portion of the interview asked questions similar to: “What business would you build on top of self-driving cars?” Product Management

5 Factors to Consider When Building Your Product Strategy

Amplitude

When it comes to product strategy, there is so much conflicting advice that getting started can be confusing. Besides being vague or gimmicky, another common product strategy pitfall is to list tactics as an overall strategy. Product Mission and Vision.

How to Create a Product Strategy Without a Clear Company Strategy

Mind the Product

Having “no company strategy” is one of the biggest issues facing product managers, according to a recent survey of over 600 product people. After all, how can you set a reasonable direction for your product when you don’t know where your company is headed? Fortunately, there was enough data available on the student population and the market to be able to determine which combinations were the most significant.

Productboard founder and CEO Hubert Palan on mastering product strategy

Inside Intercom

With a background in computer science and an MBA, he soon realized that understanding the markets and customers is as important as building the products. Use it to make better product decisions. I started as a product manager and ended up as the VP of product.

Maybe We Should Be Problem Managers Instead

Speaker: Steve Johnson, Founder and CEO, Under10 Playbook

Rather than departmental issues, these are product strategy issues. Yet many product managers and most product owners are too busy with tactical issues that they never come close to addressing these issues. Or is it a strategic role that is grounded in market facts?

3 Ways To Educate the Market That Actually Work

The Product Coalition

Everyone knows educating the market is hard to nearly impossible, but people always bring up examples like Facebook or the iPhone whenever I discuss it in my lectures. So what can and cannot work when you want to educate the market? Did the market immediately get it?

Radical Product Strategy

Radical Product

Photo by Randy Fath on Unsplash How to iterate less and achieve more In my recent talks and blog posts , I’ve shared the importance of having a clear vision to avoid common product diseases. And yet, I had caught what I now call the Iteration Epidemic where we try to copy the success of companies that found their success through iteration, trying one strategy after another to find the nirvana of product-market fit. Until now, product strategy has been a fuzzy term?—?you

The Cost of a Bad Product Strategy

ProductPlan

We spend lots of time praising the savvy strategic moves of winning products and companies. But for every success story, there’s a graveyard of failed products laid low by bad product strategies. A bad strategy is hard to overcome. And if no one realizes it’s wrong or adjusts course quickly, a promising product can become a lost cause. What Does a Bad Product Strategy Look Like? Those are slogans, not strategies. Product Strategy

Why You Need a Data-informed Product Strategy

Amplitude

The best product strategies exhibit a deep understanding of customers. They reflect how customers get value out of your product. After a product strategy has been set, teams should be able to not only measure the impact of product initiatives, but also discern how users get value from the product offering (and tie that value to concrete business outcomes). This is true in marketing. What is a data-informed product strategy?

Traffic and Product Market Fit Are Key Determinants for Your Product Strategy

The Product Coalition

A lot of the balance of innovation and optimization depends on the stage of your company and how many people are coming to your product. Your level of product-market fit is also very important. If you have a product where you know that users are engaged and likely to use the product, then entering a phase of optimization makes a lot more sense. growth product-marketing innovation product-management growth-hacking

5 Product Positioning Mistakes to Absolutely Avoid

Mind the Product

A product marketer acquaintance of mine – Mukul – recently asked for some advice on his product positioning. The post 5 Product Positioning Mistakes to Absolutely Avoid appeared first on Mind the Product.

Global vs. Regional Product Strategies

Dear Strategy

Dear Strategy: “How do you make sure there is an effective inter-working between different levels in a dynamic strategy evolution?”. Dynamic Strategy Evolution” – that could be the name of a band! But more than just being a cool sounding phrase (with the definition of “cool,” of course, being relative to the strategy geek that I am), the underlying meaning of these words really do have an important impact on the success or failure of a business.

The most important question to ask when developing your Product strategy

BrainMates

Your Product strategy is the most important long-term document you ever create for a Product. It helps you imagine the future of your Product. But before you can craft your Product strategy you need to know — what’s going on? What’s going on with your existing customers should be the first area you focus on in the strategy development process. Some things you should know are: What problem is your Product solving? Market size.

Sustainable Product Strategy: How to Move from Outputs to Outcomes

Amplitude

Roadmapping is at the core of product strategy and product management. As a product person, and the VP of Product at Yesware , I’ve never come to fully embrace the discussion of what each team would deliver, in what sequence and within a long timeframe. Output-focused product roadmaps provide a false sense of certainty, all while limiting product work to a few big bets, which may or may not pan out. We have a similar tool on our marketing site.

May 12: Covid19’s Impact On Your Product Strategy (webinar)

Mironov Consulting

Topic: Covid19’s Impact On Your Product Strategy. But now many of us in product or development organizations are shifting attention to how this crisis changes priorities and product plans. Product Management Upcoming Events agile customer thinking economics leadership markets product management roadmapsWhen: Tuesday 12 May , 10am PT / 12:00pm CT / 1pm ET. Hosted by: Synerzip. Register here.

Turn Your Release Notes Into a Content Marketing Machine

Mind the Product

If you’re in a product company the chances are that you’ve developed some process of informing your users about new features. Spending a bit more effort on the process can help you turn your release notes into effective content marketing. We send our newsletter out once a month to inform our users about the latest developments to our products. We don’t only send it to our current users, but also to those who have shown interest in our products in the past.

Serve Fewer Markets. Win More Deals.

bpma ProductHub

Reprinted with permission from the Product Management and Strategic Marketing Blog. The top challenge most product companies face is finding the best market for their product. Some succeed, but most often companies go after too many markets and fail to create a strong foothold in any particular one. Let’s review a couple of scenarios: Scenario one – company has an existing product portfolio. by Sarela Bliman-Cohen.

How Speed to Market Starts With a Strong Foundation

Mind the Product

Imagine this: You’re in the middle of developing a product when you realize you’re going to miss the launch date. Well, according to the Center for New Product Development , “the average new product development project exceeds its schedule by 120%.” Over the past 10 years, I’ve encountered my fair share of delayed product launches. And I’m in good company, Tesla , Starbucks , and Apple have all struggled to launch new products on time. Product Lifecycle.

Intercom on Product: The intersection of company and product strategy

Inside Intercom

Five years ago I wrote about how product strategy means saying no – you must ruthlessly protect your product from feature creep. . Saying no, however, is just one part of a successful product strategy. As your business scales, you’ll need to carefully align your product strategy with your broader company strategy to ensure cohesive and sustainable growth. The meeting point of company and product strategy.

Product Strategy Doesn’t Work in a Vacuum, featuring Hadrien Raffali

ProductPlan

In our webinar Product Managers: Treat your Strategy as a Product , Hadrien Raffali discusses the importance of tracking market activity and tweaking plans accordingly. He has experience building products around the world, including stops in South America, Australia, Asia, and is now in Denver working for Pivotal Tracker, part of VMware. Raffali believes strategy missteps are inevitable if companies aren’t spotting key patterns quickly enough.

How to Build a Basic but Great Product Strategy?

The Product Coalition

Every product must have a strategy. management marketing planning product-management businessIf you think differently than you’re just wrong. The good thing is that in most cases you don’t need… Continue reading on ProductCoalition.com ».

Connecting Strategic Plans to Product, Marketing & Sales Execution Plans in 3 Steps

bpma ProductHub

By John Mansour – Most organizations have strategic plans that include goals for revenue growth, new customers, market share and other quantifiable metrics. But a huge disconnect often exists between the corporate strategic plan and tactical product, marketing and sales plans. When that’s the case, the organization loses tremendous momentum because all disciplines are… Product Strategy

Outcome-Driven Roadmapping: The Secret to a Focused Product Strategy

ProductPlan

But when it comes to product development and the roadmaps that guide that process, you’re often hard pressed to see the desired outcomes represented. But shouldn’t the guiding document for the product strategy be more than just a set of ingredients? Since a product roadmap is often the defining document for encapsulating the execution of product strategy, it would be awfully nice if it also communicated the objectives of that strategy, but this is rarely the case.

10 Ways a Feature-Less Roadmap Helps Your Product Strategy

ProductPlan

Since releasing both a webinar and book on the impact of feature-less roadmaps on your product strategy recently, we’ve gotten a lot of questions about why we’re so hostile to including features on product roadmaps. Features have long been the basic unit of measurement that product development teams track. Why Your Product Roadmap Should Be Feature-Less. Imagine you’re a software executive, and your product team has asked to present to you their new roadmap.