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Guest Post by: Marissa Fong (Mentee, Session 5, The Product Mentor) [Paired with Mentor, Bill Gourlay]. Product management requires productstrategy. What are your customers’ needs? These are all key questions addressed as part of productstrategy. How do you best solve for these needs?
Scaling a product isnt just about selling moreits about refining product-market fit, unlocking the right growth levers, and making sure your go-to-market strategy actually aligns with what your customers need. Rachel shares how shes helped SaaS products scale from $1M to $10M in a year.
Let’s discuss ways to build strategies for high-value customers and work towards establishing a great product experience Who are high-value customers High-value customers are users who have already subscribed, signed up to your product, or own some of your products if you have many products in your ecosystem.
You’re gathering customer feedback, hitting your OKRs, and tracking every metric imaginable. And yet, your product is stuck. Users churn, innovation stalls, and your team feels like theyre running on a never-ending treadmill. Customer feedback drives iteration. Customers needs change faster than you can build.
Speaker: Robin Zaragoza, Product Coach and CEO of The Product Refinery
Every product manager has heard, “Keep the customer at the heart of everything you do". But what strategy do managers use to keep the customer and their key problems at the center of the product development process? How do product managers instill this knowledge of the customer across the rest of the organization?
Launching a product without a well-defined productstrategy framework is similar—you risk wasting resources without a clear path to success. So, how do you outline a productstrategy framework that is the foundation of product-led growth ? Productstrategies help you design and grow your products.
Product analytics refers to the process of gathering and analyzing data on how users interact with a product. It tracks key metrics such as feature usage , user flows, and behavior patterns to explore user preferences and painpoints. Why should you have a product analytics strategy?
Also, in various organizations which have grown in product maturity, customer base etc., This role also focuses on increasing the retention rate for existing customers. It contains subsections with steps that one should go through while building products. ProductStrategy.
As marketers, our job is to understand our customers – their hopes, their wants, their needs – and then communicate the value of our product in the context of their lives. At SaaStr Summit , I spoke about how businesses can adapt during these uncertain times by focusing on customer impact. Embracing a philosophy of change.
Crafting a winning productstrategy is crucial for SaaS success, and finding the right productstrategy example can provide all the inspiration you need. This article provides concrete examples of different productstrategies employed by SaaS companies. Book a demo to learn more.
Innovators have to build first reference customers in the mainstream market to prove having a promising business model and a compelling offering. Starting with a niche market ensures focusing on a very specific customer problem and probably little to no competition. As we do not have yet data available from live customers?—?or
This is a problem I see not just with tech entrepreneurs but also on a regular basis with product managers at the B2B companies we work with at SiriusDecisions. If I had to make a blanket statement, it’s that most founders and product managers don’t listen enough to customers or iterate enough based on customer feedback.
He is responsible for the company’s entire product portfolio, shepherding a lean virtual team of 10 Project Managers & UX Designers. Working here has been a homecoming for me, where I’ve been given the opportunity to put my background in ecommerce product management to work for a mission that I deeply care about. [5:54]
When your company adopts multiple SaaS solutions to drive productivity, you unknowingly create a perfect storm for data fragmentation. Your customer information lives in Salesforce, while your support tickets are in Zendesk, your product usage data in Mixpanel, and your marketing campaigns in HubSpot. Sound familiar?
Prior to Tango, Ken spent most of his career in the Bay Area at Uber, where he held roles in Launch Operations, Data Science, and ProductStrategy. . Summary of some concepts discussed for product managers. [3:12] We thought about how we could shift that to a more positive experience and cut down on painpoints.
The key isnt just understanding users but unlocking insights that lead to solutions they cant live without. Product discovery is critical in identifying workflows, painpoints, and user goals that shape successful products. Falling victim to confirmation bias: Assuming solutions fit users create blind spots.
By focusing on user engagement metrics, you were able to identify areas for improvement, optimize user engagement strategies, and increase overall user retention. 2: Acquisition Metrics Acquisition metrics measure how well a product is being discovered and adopted by new users.
A customer feedback repository is the place you keep all your feedback data. What is a customer feedback repository? A feedback repository is a central location where product teams can collect and organize customer feedback. Gathering customer feedback is crucial for creating successful products.
Looking for real-life customer-led marketing examples that worked to get inspiration for your own campaigns? For each example, we’ll explore why it works and lessons that can help improve your marketing strategy. For each example, we’ll explore why it works and lessons that can help improve your marketing strategy.
Compare this to a product like Apple’s AirTags, which address the issue of finding keys and other misplaced items. Such a product is also referred to as a painkiller , as it addresses a problem or painpoint. But no matter how a product is classified, it must create value for its users—or it is doomed.
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.
Chip emphasizes that product managers should see market research as an ongoing process and provides practical tips for doing effective research. Introduction In the world of product management and innovation, market research is like a compass. This information is gold for creating successful new products.
The Solutions Value Chain is a framework that helps you uncover real, strategic value for your customers—from the top of their organization all the way down to the people in the trenches doing the day-to-day work. Of course, every product company wants users to love their products—no surprise there.
It can be quite a challenge to find and address the points of friction that are chasing your customers away. We create our business strategies around driving growth, and look to growth as the key indicator of the health and viability of our companies. “Are you attracting and engaging the right customers?
In product management, it involves understanding the needs and painpoints of customers and creating products that solve their problems. Building authentic connections is crucial for success in product management, both during the job search process and in day-to-day work.
Moving from product concepts to execution requires the steady guidance of a product manager to listen and understand the needs and wants of the organization, the teams involved, and the users for whom the product is being built. The cycle of creating a great product begins with listening. Establishing value.
How to Achieve Success in Your ProductStrategy In today’s rapidly evolving market, having a clear product vision and a well-defined strategy is essential for the success of any tech product. A compelling product vision is a guiding light, providing direction and purpose to the development process.
Customer insights provide intelligence and analysis about customer experience, activities, and preferences. Therefore, they are vital for effective productstrategies and ensure resource allocation aligns with customer needs. Analyzing customer service data to identify common issues and queries among new users.
What’s the big deal in making Products? You listen to customers, get their requirements, build Products to address the requirement! You are not discovering the painpoints of one entity. Every month you talk to many customers, many users. Customer A wants an On-Prem solution. Was that not easy?
Common types of customer needs include functionality, price, usability , performance, and support. To conduct an analysis, start by first defining the objective for your user needs analysis. Then, split your audience into various customer personas so you can analyze each of them individually. Let’s take a closer look.
The customer sentiment score can help you tell how well-perceived your brand is. Let’s explore the customer sentiment score, how to measure it with user feedback , and what strategies you can execute to elevate the customer experience. But how can you measure and improve it? You’ll need a platform to do this.
According to the 2024 State of CX Personalization Report by Medallia, customers who go through very personalized experiences rate their overall satisfaction as 9.4 By developing a customer segmentation strategy, you can build the right segments, analyze their behavior, and set tactics to reach them through tailor-made initiatives.
Building trust with stakeholders isnt just a nice-to-haveits essential to preventing failed product launches due to poor stakeholder management. Without trust, even the most well-thought-out productstrategies can face pushback, leading to misalignment, delays, and increased risks.
Even more strategic when customers use both, right? Beyond a healthier balance sheet, why do your target customers care about cash flow relative to their big picture strategy? 80% of your value story is built around things customers do and why they do it, not your products. There’s still something missing though.
TL;DR Market gaps are the disparities between what customers need and want , and what the market can deliver. A market gap can be caused by missing functionality or poor user experience. Your colleagues, especially customer-facing ones, can offer valuable insights into unmet user needs and shifts in the markets.
According to Ant Murphy, the reason is simple, you don’t have a prioritization problem, you have a strategy problem. We explain how to create a successful productstrategy, the role of productstrategy in prioritization, and how to align your prioritization efforts with your strategy.
Unlike in-house product teams that build and iterate on their own products, agency product managers (PMs) must quickly understand a clients business, dive deep into their challenges, and deliver high-impact solutions within tight timelines. Anne explains: Desirable: Whats the customer need?
Gathering meaningful insight from your customers is a challenge for any product manager: what you need is a handy user persona survey template to help you capture it… We’re here to help! In this article, we’re going to explore how user personas can help you gather and utilize customer insight more effectively.
Understanding Stakeholder Dynamics Stakeholders in product management aren’t just limited to your direct team; they encompass leadership, cross-functional teams, customers, and even external partners. Each group has its own set of expectations, and as a product manager, you are often in the middle, balancing different priorities.
Looking for the voice of the customer questions to understand your users, analyze the market, and unlock growth opportunities? In this article, we will cover the voice of the customer methodology. VoC surveys help you make better product decisions, remove friction , build customer trust , and minimize future negative feedback.
Empathy If everyone in the Product world got a dollar for every time they heard the word ‘empathy’, we could all retire early! First of all, an all-star Product Leader has empathy for the customer. If you look at your users, and all you see are potential dollar signs, you’re never going to go the distance as a PM.
Looking to track and improve customer sentiment for your brand? This article provides a detailed guide, covering: What is customer sentiment, and why does it matter for your bottom line? Proven methods to collect valuable customer feedback , from surveys to social media monitoring. Identify product enhancement opportunities.
Her exposure to the product team —and the departure of a previous product manager—sparked Lisa’s interest and led to her stepping into the product manager role right around the time that Teresa began working with the product team as a discovery coach. We realized we needed to build that trust into the product itself.”.
Best metrics for measuring product success Are you measuring what truly matters? Product sense is a blend of art and science covering internal and external factors. It’s great if customers are signing up for your free trial at rates exceeding expectations. Technology and customer needs are never static.
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