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.

Shifting Markets, Shifting Strategy: Three Considerations

Proficientz

Shifting markets usually constitute a shift in product strategy for most organizations. For some, the current market climate presents a world of opportunity and for others it’s an exercise in survival. In either case, there are three key aspects of product strategy that matter most. Target Market Focus. Your target markets drive every key decision in the organization. Portfolio & Product Strategy.

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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

A Strategy Map

Roman Pichler

The map below shows the strategy tools I find helpful to make effective product strategy decisions. As the Strategy Map above shows, you should be aware of the overall business and product portfolio strategy in order to make the right strategic product decisions, as these provide the necessary context. The Strategy Map can help you check if you have any strategy blind spots. The post A Strategy Map appeared first on Roman Pichler.

Testing at Every Stage of Development

Up to 80% of new products fail. The reality is harsh and the reasons why are endless. Perhaps the new product couldn’t oust a customer favorite. Maybe it looked great but was too hard to use. Or, despite being a superior product, the go-to-market strategy failed. There’s always a risk when building a new product, but you can hedge your bets by understanding exactly what your customers' expectations truly are at every step of the development process.

Retention Marketing: How to Build a Retention Strategy that Works

Userpilot

You’re leaving cash on the table for your competitors to sweep up if you don’t have a strategy for retention marketing. So, in this blog we’ll show you how to keep your customers happy with a targeted retention strategy. My marketing is working.”.

Dear Strategy 122: Mature Products in Resistive Markets

Dear Strategy

On this episode of Dear Strategy, we answer the following question…. Dear Strategy: “How do you manage the lifecycle of mature products in resistive markets?”. The post Dear Strategy 122: Mature Products in Resistive Markets appeared first on Dear Strategy.

How To Quantify Your Market Focus in 5 Steps

Proficientz

Is there a way to quantify the extent to which our organization is truly market focused? Here’s a simple calculation that tells you how well your organization is executing on product, marketing and sales initiatives that will drive growth over the next 12-24 months.

Product Manager vs Product Marketing Manager

280 Group

Managing the Interrelated Roles and Responsibilities of Product Managers and Product Marketing Managers. Product Management and Product Marketing Management are complementary roles. It’s often said that a Product Manager has a more inbound focus, while a Product Marketing Manager has a more outbound focus. The Product Marketing Manager is responsible for successfully getting the product off the shelf. Is the market expert. Conducts customer and market research.

Product vs. Market Strategies

Dear Strategy

Dear Strategy: “What is the difference between a product-based organization and a market-based organization, and how does that translate into product and marketing strategies?”. For smaller businesses with one type of product sold into one or more markets, this discussion is a moot point. But what happens when your company has many different types of products sold into many different types of markets? Dear Strategy: Episode 098. ###.

How to Package and Price Embedded Analytics

struggle to integrate analytics into their products, business models, and pricing strategies in a way that meets a range of user. User Classes vs. Marketing Buying Personas While companies may buy your software product, it’s the end users who ultimately use the features.

How To Quantify Your Market Focus in 5 Steps

Proficientz

Is there a way to quantify the extent to which our organization is truly market focused? Here’s a simple calculation that tells you how well your organization is executing on product, marketing and sales initiatives that will drive growth over the next 12-24 months.

Dear Strategy 105: Prioritizing Target Markets

Dear Strategy

On this episode of Dear Strategy, we answer the following question…. Dear Strategy: “Which one comes first – market size or product capabilities that match the market?”. If you’re interested in having Strategy Generation Company deliver a strategy workshop for your business, please visit us at [link]. The post Dear Strategy 105: Prioritizing Target Markets appeared first on Dear 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. As helpful as it is to create a product strategy, it is not enough.

Tips for Effective Product Strategy Reviews

Roman Pichler

Hold Regular Product Strategy Reviews. A product strategy , like any other plan, is subject to change. How changeable your strategy is, depends on your product’s life cycle stage. As long as your product hasn’t reached product-market fit, the strategy is usually volatile. Contrast this with a mature product , which tends to have a more stable product strategy. Make sure that you block the necessary time for product strategy reviews in your calendar.

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.

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. Make the exercise of creating a product strategy more about customer outcomes than product success and it becomes a pretty simple exercise.

Product Strategy Lessons From Henry Ford

The Product Coalition

In our world, this would have been considered a great product strategy. Marketing needs to know exactly who the target audience is and what value proposition to talk about. What people usually call strategy is in many cases just a general direction.

Dear Strategy 098: Product vs. Market Strategies

Dear Strategy

This week’s question is… Dear Strategy: “What is the difference between a product-based organization and a market-based organization, and how does that translate into product and marketing strategies?”. The post Dear Strategy 098: Product vs. Market Strategies appeared first on Dear Strategy.

Why Product People Should Care About Business Strategy

Roman Pichler

Business Strategy vs. Product Strategy. A business strategy describes how a company wants to achieve its overall aspiration and create value for its users, employees, and shareholders. It’s distinct from the product strategy : The business strategy states how the company will be successful, whereas the product strategy describes how a product will achieve success, as the following picture illustrates. Elements of an Effective Business Strategy.

Product Analytics, Prioritization, and Decision-Making - What We Can Learn from Einstein and Drucker

Speaker: Nils Davis, Principal, NPD Associates

How do you trade off multiple excellent options to choose the one option that’s best aligned with your strategy and which will deliver the most value to the market with the resources you have?

How Product Marketing Roadmaps Drive Sales | Shifting Market, Shifting Strategy | Agile: We’ve Come Full Circle

Proficientz

This month we explore the value of a product marketing roadmap to sales. We also look in the rear-view mirror at Agile and discuss what’s changed and what hasn’t along with tips for dealing with flat growth and shifting market conditions. The Value of a Product Marketing Roadmap: It’s Like Deep-Sea Fishing for Sales. Shifting Markets, Shifting Product Strategy: Three Considerations. The B2B Product Manager Magazine August 2018 is now available.

Product Pricing (3/4): Strategy

The Product Coalition

3 Must-Know Pricing Strategies and the Inputs to Drive Them Continue reading on ProductCoalition.com ». product-marketing pricing pricing-strategy marketing product-management

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. Because product strategy – the foundation of any exceptional product work – is too often neglected. Agile is not a strategy.

Why Product Videos Should Be Part of Your Marketing Strategy

Innovatemap

Videos have long been a part of marketing strategies for businesses in most industries. Even though video marketing is not a new concept, it is becoming more prevalent. According to Hubspot , 85 percent of businesses have used video as a marketing tool in 2020. For the marketing teams behind software products, video is a way to attract new leads by pulling back the curtain. Why today’s marketers value video.

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.

Startup marketing: strategies for year one

Inside Intercom

Looking back, I didn’t see these activities as marketing with a capital M, but they absolutely were. In the very early days of Intercom the marketing hat fell on my head, but I’d be doing marketing a disservice (and 2011 Des a disservice) if I said that’s what I thought I was doing. I didn’t have a perfectly mapped out startup marketing strategy. I certainly didn’t have an “acquisition strategy.” Choosing a tactic for your addressable market.

Dear Strategy 103: Determining the Size of Your Target Markets

Dear Strategy

On this episode of Dear Strategy, we answer the following question…. Dear Strategy: “Thank you for the 5-part series that explained TAM/SAM/SOM back in April. What sources might I go to in order to figure out how big my market is?”. The post Dear Strategy 103: Determining the Size of Your Target Markets appeared first on Dear Strategy. Podcast business growth management market planning product sam size sizing som strategic strategy tam training

Market-Driven Products vs. Market-Driven Product Companies

Proficientz

If you have market driven products then don’t you have a market driven company? There are three key differences between market driven products and a market driven product company. Market-driven products, if taken literally, could result in multiple product silos with competing goals and contention over resource allocation. Here are three key differences between market-driven products and market-driven product companies. Market Perspective.

Accelerate Marketing Automation Strategies with Usage Analytics

Revulytics

In his inaugural address to the audience at this year’s Marketo Marketing Nation Summit, Steve Lucas , the new CEO of the marketing automation heavyweight, defined a chief challenge facing marketers today as one of “supply and demand,” according to event coverage. As we focus our marketing efforts on creating more demand for our products, we’re constrained by “the law of diminishing returns.” Optimizing Email Automation Strategies.

Positioning to Win: How to Harness a Product Superpower

Speaker: April Dunford, Executive Consultant, Speaker, and Author

Positioning forms the foundation of a product's go-to market strategy. Your marketing plans, your sales strategy, your customer segmentation, your product roadmap - each of these uses positioning as an input. Yet as important as positioning is, it is deeply misunderstood. In this session, April Dunford is going to arm you with the tools you need to master positioning.

Turn Your Release Notes Into a Content Marketing Machine

Mind the Product

Spending a bit more effort on the process can help you turn your release notes into effective content marketing. It’s a task that also requires tight cooperation between tech and marketing functions. When planning your releases, involve some marketing people to make sure that your releases make sense from a marketing point of view as well. Market Your Release. The post Turn Your Release Notes Into a Content Marketing Machine appeared first on Mind the Product.

The Phenomenal Product Manager: Product Marketing versus Product Management

280 Group

We’ll be using the term Product Manager to refer to both Product Managers and Product Marketers. Inbound (Product Management) spends most of their time with engineering teams and customers, making critical decisions and ensuring that everything gets done to bring customer-focused products to market. Outbound (Product Marketing) makes sure that once these products are ready, they get launched and marketed effectively to the target customer base. Product Marketing.

The importance of an effective product marketing strategy

Inside Intercom

First, most founders don’t have a background in either sales or marketing, and even though they’re told to “ start marketing the day you start coding ”, they just don’t know where to begin, or they’re incredibly overconfident. Getting through the first product launch requires more than a marketing Band-Aid; it requires instilling a company-wide philosophy that marketing and product aren’t two antithetical forces but two sides of the same coin.

The Importance of Market Segmentation

The Product Bistro

One of the core responsibilities of Marketing in an organization is to effectively define and track the marketing segments. Segmentation is crucial to effective pricing strategies. By having a well established segmentation model for your business, you can then work on fencing strategies to maximize your revenue and profit in pricing. Yet, many marketers struggle with segmentation, either making the segmentation too simple, or too complex.

Build Delightful Products with Customer Validation

Speaker: John Little, Head of Product Marketing, Centercode

When it comes to delivering a solid product/market fit, customer validation is key. After all, you want to provide customers with a product that not only fills the need, but is delightful -- right? To get there, you need to commit to a vital blend of market research, strategy, and user testing. Join John Little, Head of Product Marketing at Centercode, as he explains a two-part approach to customer validation. First, how do you strategically identify your top product areas that need attention prior to release. And second, how do you turn user data into strategic priorities that help the right teams make the right decisions.

Brand Identity For Product Management & Product Marketing: 5 Components

Proficientz

In B2B organizations the same concepts apply to product management and product marketing teams for the same reasons. Consider your colleagues in engineering, marketing, services, sales and the executive team to be your target market. Market & Industry Knowledge.

Dear Strategy: 080 Five-Year Strategies in Volatile Markets

Dear Strategy

On this week’s episode, host Bob Caporale , founder of Strategy Generation Company and author of Creative Strategy Generation , answers the following question: Dear Strategy: “Is 5 years a relevant time frame for your strategy when market trends and industries are uncertain in a volatile market?”. The post Dear Strategy: 080 Five-Year Strategies in Volatile Markets appeared first on Dear Strategy.

Dear Strategy: 058 SEO, SEM, and Other Marketing Strategy Trends

Dear Strategy

Dear Strategy: “Can you talk about some of the newer trends in marketing that should be considered when putting together a marketing strategy?”. . Finally – a question about marketing strategy!!! We’ve always pitched this show as being mostly about product and business strategy. To frame this question up properly, let me first say a few words about where I believe marketing strategies fit within the context of product and business strategies.

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. Fortunately, there was enough data available on the student population and the market to be able to determine which combinations were the most significant. We were successful in “selling” our vision and strategy, and were allocated funds to deliver it.

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!