Establishing an Effective Product Strategy Process

Roman Pichler

Why a Product Strategy Process Matters. In the picture above, the product strategy describes how a visionary, inspirational goal is attained. It includes the product’s value proposition, market, stand-out features, and business goals. Do they impact your product?

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. Product Management

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.

What you should consider when developing a product strategy

Craft.io

This blog has already addressed the different stages of Product Development Strategy. This time, we’re turning our attention to the various elements needed to formulate the right product strategy for your enterprise. Why you need a product strategy.

Understanding Users at Scale with Product Analytics

Speaker: Sandhya Hegde, Director of Product, Amplitude

A deep understanding of how users interact with your product is critical for PMs at every stage of their product's lifecycle. Present and drive product strategy based on evidence.

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?

How to Distinguish Between Your Product Roadmap, Product Strategy, and Product Vision

UserVoice

While you might “own” the product, your product’s vision should be coming from the top of the house. It should be driving everything in your organization, not just product development. So, if the vision isn’t the responsibility of the product team, what is?

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How to Apply Machine Learning to Business Problems: Part 1

bpma ProductHub

It’s easy to see the massive rise in popularity for venture investment, conferences, and business-related queries for “machine learning” since 2012 – but most technology executives often… Product Strategy

3 key Product Strategies we learned at NY Product Conference

UserTesting

It’s always interesting to take a step back from Silicon Valley and meet fellow product managers from different parts of the U.S. Recently, I attended the NY Product Conference, a relatively new conference in its third year, but definitely impactful.… … The post 3 key Product Strategies we learned at NY Product Conference appeared first on UserTesting Blog. Product

How to Apply Machine Learning to Business Problems: Part 2

bpma ProductHub

Pointers for Applying Machine Learning to Business Problems 1– Begin with a priority problem, not a toy problem In an off-mic conversation with Dr. Charles Martin (AI consultant in the Bay Area),… Product StrategyBy “Daniel Faggella – This article was originally listed on TechEmergence. This post breaks the original post into 2 Parts. Part 1 is here.

Lessons Learned in 33 Years in the Software Industry

bpma ProductHub

This year, Business of Software Conference USA is in Boston,… Product Marketing Community Product Management Resources Feedback research Usability Design Communication Innovation Product Strategy B2B B2C SoftwareSeth Godin on Making Software Seth Godin spoke at Business of Software Conference USA last year to share some of the many lessons that he has learned in his 33 years in the software industry. You can watch the talk or read a transcript here.

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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. Why product managers should obsess on problems, not solutions.

Am I a Product Manager or a Product Owner? Part 2

bpma ProductHub

By Ellen Gottesdiener Part 2: 5 Ways to Untangle the Mess In part 1 of this blog, I outlined the confusion between what a Product Manager does and what a Product Owner does. The difference and overlaps between product management and product ownership work illustrated how activities span both strategic and tactical product management. With… Product Strategy

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Making Better Use of Engineering Teams

bpma ProductHub

By Mark Littlewood – Business of Software hosted Marty Cagan, founder of Silicon Valley Product Group earlier this year in London for a talk based around the new edition of his book, Inspired: How to Make Tech Products Customers Love. Provide Engineers with Full… Product Strategy

Am I a Product Manager or a Product Owner? Part 1

bpma ProductHub

By Ellen Gottesdiener Part 1: Confusion Abounds With the maturing of the software industry and with an overwhelming acceptance of agility, I am still surprised at the inconsistency and overall confusion between what product managers and product owners do. … Product Strategy

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Taking Event Support from Sales Tactic to Product Strategy

Product Beautiful

As a product manager, you may view events as largely tactical and time-consuming endeavors. While some product managers have a sales background, most don’t. Frankly, a lot of product folks aren’t good at this. So, what can we do to rethink event support and create events that actually benefit the product team? So often, we see our role at a trade show as one of doing demos and talking up our product’s features. From Tactic to Strategy. Events.

Understanding Customer Needs: Problem vs. Solution Space

280 Group

Product Managers and the teams of developers they work with often tell me that Product Managers have problems writing good requirements. The post Understanding Customer Needs: Problem vs. Solution Space appeared first on 280 Group Product Management. Product Strategy

7 Ways of Creating and Sustaining an Agile Product Roadmap

bpma ProductHub

By Ellen Gottesdiener – Product Roadmaps Are Necessary for Product Success A product roadmap visually depicts how your product will evolve over time to realize your product vision and achieve continual value for your customers and business. (I I define the term product to refer to a software application, system, device, service, or a combination that… Product Management Product Strategy

What PRD template provides a useful roadmap?

bpma ProductHub

Product Requirement Documents (PRDs) are documents product managers use to achieve several important objectives. … Product StrategyBy Daniel Wu’ – An ideal PRD discusses users, shows features in a visual prototype, and includes key hypotheses. They (1) create purpose and context for the teams they work with, allowing key stakeholders to feel heard; and (2) clearly communicate the vision.…

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

bpma ProductHub

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 StrategyBy John Mansour – Most organizations have strategic plans that include goals for revenue growth, new customers, market share and other quantifiable metrics. All good!

Choosing the Right Planning Horizon for Your Product

Roman Pichler

But in product management, there are several horizons that need to be considered—how many depends on the product planning model you use. The product backlog contains the details necessary to develop the product as outlined in the roadmap including epics and user stories.

Doing Things that “Do Scale”

bpma ProductHub

By John Zilch – It can be fun doing things that don’t scale in the early days of a product or business. Whether it’s testing product-market fit, marketing messaging or innovation options, teams can be creative as they fine tune their business model. For example, InsightSquared, a Boston-based revenue analytics company, launched in 2010 to help… BPMA Product Management Product Strategy

Product Operations Dashboard

Product Management Lessons from the Trenches

You reach out to all department heads and request to get data for your analysis: Marketing team for data on campaign conversion, customer support for data on call volumes, account team for data on customers feedback, product data for usage, etc. What is a product operations dashboard?

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When 2 Become 1: The Roles of Product Manager and Product Owner

bpma ProductHub

But since this is the BPMA, we’re thinking about the oft-merged roles of Product Manager (PM) and Product Owner (PO). On January 23rd, Pragmatic Marketing hosted a webinar entitled “Six Ways Product Management’s Role Will Change in 2018.” Product Strategy

Market Problem Framing Example

Tyner Blain

As Steven Haines first told me, “strategy first, roadmap second.” ” There is a step between the two – deciding which problems you will focus on solving with your product. Strategy defines the context for product strategy, and your product roadmap is a planning (and communication) tool for executing your product strategy. Ted Levitt Whole Product Model.

The “Why” Behind Your Product Roadmap

bpma ProductHub

The vast majority of product roadmaps move the product in a positive direction, but desired results are only achieved if there is clarity around where it is taking you, and why. Well-run companies are honest about the reality of their current products. product/features/strategy.

Make Your Product Stand Out with the Strategy Canvas

Roman Pichler

The Strategy Canvas. The Strategy Canvas was developed by Kim and Mauborgne, the authors of Blue Ocean Theory. It was originally intended as a business strategy tool to discover new markets. Applying the Canvas to Your Product. Product Strategy

Finding Your Product's Critical Event(s)

Product Management Lessons from the Trenches

Finding Your Product’s Critical Event(s) By now you have most likely heard the phrase “build it, they will come”. There is an App for that”) and simply building a product doesn’t guarantee a successful business. growth startup-lessons product-management product-strategy product

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BWP 2017 Year in Review

bpma ProductHub

Boston Women in Product 2017 Year in Review: By Emera Trujillo. 2017 has been an exciting year for Boston Women in Product. As we gear up for 2018, here’s a look back at the past year with Boston Women in Product! Product Strategy

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Is MVP Dead?

bpma ProductHub

Is Minimum Viable Product Dead? – By Don Stoddard . Minimum Viable Product is a widely accepted concept; so why do so many people want to declare it dead? In many ways, MVP suffers from its own popularity associated with both good and bad products. Product Strategy

APO: Retrospectives: The Product Perspective Tuesday, February 6, 2018 | 6:00 – 9:00pm

bpma ProductHub

Retrospectives: The Product Perspective. Join the Agile Product Open community on Tuesday, February 6th at Slalom in Boston for an interactive evening focused on the product perspective for retrospectives. Our APO community will focus on the product angle of this important discipline, retrospecting on retrospectives with a focus on topics including: Engaging product people (product manager or product owner) in retrospectives. Product Strategy

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Ways to Define Success and Measure Value for your Product Features

bpma ProductHub

A Boston Women in Product Event Recap. By Garmia Painuly – No matter what the product, our goal as product managers is to deliver value to customers. How do we quantify and measure the value, and incorporate the findings into our product plans and roadmaps?

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Define the Formula that Drives the Business

Product Management Lessons from the Trenches

My passion for building businesses and products started years ago when I had the opportunity to co-found my own start-up. We built a product that many loved and could see the potential in, but at the end couldn’t scale it into a successful business.

Balance Your Portfolio with the Product Portfolio Matrix

Roman Pichler

The product portfolio matrix , also called growth–share and BCG matrix, wants to help you achieve a balanced portfolio, a portfolio that contains the right mix of young and established products. A revenue-generating product is now most profitable (hence the term cash cow).

Elements of a Compelling Product Vision Statement

280 Group

Do I Really Need a Product Vision Statement? When you do the math on how many team members you have this leads to an astounding number of decisions that are being made daily around your product. Product Management Product Strategy Messaging Vision

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How Minimum Viable Products & Features Helped Me Write My New Book

Roman Pichler

Minimum Viable Product #1. At the same time, I wanted to test that the product would create enough value for its readers before writing the actual book. Minimum Viable Product #2. Instead, I opted for a broader collection of related strategy and roadmap tips.

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How Compare and Contrast Decisions Lead to Better Product Outcomes

Product Talk

This past week I was in London speaking at Mind the Product. As usual, the Mind the Product team hosted a phenomenal event. When Mind the Product releases the video, I’ll add it to this post. Like many product teams, we had some tough challenges to address.

Why We Fail: What I Learned From 5 Years with Friends, Netflix’s Social Strategy

Mind the Product

I write a lot about product strategy, and use Netflix as an example so that others can learn from the company’s success and failure. As a strategy, social makes sense. Product leadership requires optimism. Netflix’s Friends (Born 2004, died 2010).

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. Let’s review a couple of scenarios: Scenario one – company has an existing product portfolio.

Eat, drink, and product: Sharing lessons from the field

bpma ProductHub

If you’ve been in product management for a while, you have the scars to prove it. The process of developing and bringing products to market is as unique, different and varied for every business and product as there are food choices in a supermarket.

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Uncovering Your Most Pivotal Users by Marieke McCloskey and Doug Puett

Mind the Product

We all want our product to be used more often and by more people, but how do we identify opportunities that will transform how your product is used? This research has allowed us to make more informed and confident decisions about our product vision and roadmap.

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Build the right thing

Inside Intercom

This week I gave a talk at The Next Web on the importance of your product strategy when scaling a company. They’re all important because they work together to help build a successful product. ” To build the right thing, knowing your strategy is critical.

What is a Digital Product?

Roman Pichler

Product. What is a product ? But when it comes to digital products, this definition has only limited applicability. Is that a product? Or is the entire website the product? Some digital products exist for many years and even decades. Product vs. Project.