product strategy sample

a product strategy is a high-level plan describing what a business hopes to accomplish with its product, and how it plans to do so. your team will be in a better position to deliver their best work when you draft and communicate a clear and well-thought-out product strategy to your organization. developers can sometimes feel caught amongst all the details and lose sight of the overarching purpose behind all of their work, and a product strategy clarifies that for them. additionally, your customer success team will better understand your product’s use cases and provide better support for your users’ frustrations. hbspt.cta.load(3434168, ‘e24240ff-5561-48cb-abf8-f013f03926b4’, {}); after you’ve earned stakeholder agreement for your proposal, it will be time to translate that strategy into a high-level action plan. without a product strategy to guide these decisions, the team is more likely to prioritize the wrong items and find itself misusing its limited time and resources. no organization delivers a product to the market following the exact plan drafted in the initial roadmap.

things change along the way and product managers need to be prepared to adjust their plans and priorities to deal with those changes. a product vision (written as a product vision statement) describes the long-term mission for your product. for example, google’s early vision statement for its search engine was, “organize the world’s information and make it universally accessible and useful.” a product vision should lead to high-level strategic goals. examples of product goals include: using smart goals is the best approach to utilize when setting goals for your product strategy. initiatives are the strategic themes you derive from your product goals and then place on your roadmap. (the product roadmap is, after all, only the high-level blueprint.) examples of product initiatives include: after working with thousands of product managers across many industries over the years, we at productplan have found the following 5 steps represents a best practice for developing an effective product strategy.

product strategy defines what you want to achieve, provides context around the market that you operate in, and guides the large themes of work that will help you accomplish your goals. done well, you will be able to tie every feature back to a larger goal — so your work adds real value to customers and the business. this is where you visualize your strategic direction and tie it to business models and positioning templates — all of which strengthen your product roadmap. grappling with these questions allows you to understand the true value of your product and to craft a vision statement that is both accurate and aspirational. models are useful when you launch a new product or want to evolve your strategy as the market changes. it helps define where your product fits in the marketplace and the unique benefits you provide. you need to deeply understand your customers and what they need in order to build a product they will love.

creating user personas is one way to develop empathy for your customers — you document their likes and dislikes, professional aspirations, challenges, and more. competitive research should be an ongoing process — keeping up with the competitive landscape allows you to discover new problems that your product is uniquely positioned to solve. this is the time to lay out the goals and key initiatives that will help you realize your vision. a useful exercise is to plot goals on a chart based on the depth of investment (to your team) and the impact (to your customers). initiatives are the high-level efforts or big themes of work that need to be implemented to achieve your goals. it can be powerful to visualize the timing and progress of initiatives, as shown in the example strategy roadmap created in aha! allows you to link releases and features to initiatives and goals — so you can turn your plans into reality.

examples of product initiatives include: improve customer satisfaction. increase lifetime customer value. upsell new services. reduce churn. add customer delight. break into new industries or geographical areas. sustain product features. increase mobile adoption. for example, if you aim to increase revenue and expand into new territories, choose clear success metrics and a examples of product visions google for its search engine: “provide access to the world’s information in, product strategy example pdf, product strategy example pdf, good product strategy example, product strategy framework, product strategy marketing.

example: product strategy we build quality kitchen hardware for residential kitchen customers. our customers in this post, we’ll discuss what product strategy is, then provide you with a template so you can most companies fall into the trap of thinking about product strategy as a plan to this one is the hardest for me,

When you search for the product strategy sample, you may look for related areas such as product strategy example pdf, good product strategy example, product strategy framework, product strategy marketing. what is product strategy example? how do you write a product strategy? what are the different types of product strategies? what is a product strategy document?