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Product Development Strategy Insights

Chapter 7 discusses the importance of transforming client requests into actionable product development tasks, emphasizing the need for strategic thinking and understanding market dynamics. It outlines methods for gathering ideas from various stakeholders, conducting effective client interviews, and creating a roadmap that aligns with company goals. Additionally, it introduces concepts like Proof of Concept (POC) and Minimum Viable Product (MVP) to validate product ideas and assess market demand.

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usafemi
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0% found this document useful (0 votes)
8 views36 pages

Product Development Strategy Insights

Chapter 7 discusses the importance of transforming client requests into actionable product development tasks, emphasizing the need for strategic thinking and understanding market dynamics. It outlines methods for gathering ideas from various stakeholders, conducting effective client interviews, and creating a roadmap that aligns with company goals. Additionally, it introduces concepts like Proof of Concept (POC) and Minimum Viable Product (MVP) to validate product ideas and assess market demand.

Uploaded by

usafemi
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Chapter 7

Before the Product development –


turning order into work
Words to remember

„The problem always


comes first”
Sources of ideas

• Your stakeholders
• Helpdesk staff and the support tickets
• Client interviews
• User comments
• News/blogs/website research
• Competitors
• Company/Team brainstorming sessions
• Hackatons
Client requests and reactions table
Small clients Regular clients Key clients

Agree and put on road


map with medium
priority unless someone
Don't agree unless client Don't agree unless client
is eager to pay and
One time request is willing to pay 2x for is willing to pay
compensate from the
development development
losses that come from
changing your original
plans

Agree and put on road


map with medium
priority unless someone
Consider putting it into
is eager to pay and Why haven't you reacted
Re-occuring request roadmap with low
compensate from the already?
priority
losses that come from
changing your original
plans
Words to remember

„You need to know


where you stand on
your market”
Different market spaces for new products

• Product, that is the first one to solve a problem


• Is there a need for such product?
• Did someone tried that before and failed?
• Product, that is entering an unsaturated martket
• Is there enough clients to support my business?
• How do I differ from the competitor?
• Product, that is entering a saturated market
• Can I create a disruption that will allow me to survive?
Get to know your competitors

• Who are they?


• Are you able to identify the size of their client base?
• Can you list the value proposition that makes your product
superior to your competitors?
• Can you identify competitor key features? How do they
compare with your product?
• Can you beat their price while maintaining a profit? Can
you affort working without one?
Words to remember

„As clients are your key


stakeholders, you need
to understand them and
their needs”
Client interviews summary

• Focus on listening, not moderating.


• Use open ended questions
• You need to avoid influencing your interviewee
• Be patient, focused and engaged
• Keep the conversation open and allow emotions
• Try to aim at 30-45 minutes call, but allow it to take longer
if client has still things to say
• Don’t be afraid to talk to ex-clients
• Remember that this is just an inspiration source
Example open questions

• What do you think of our product?


• How can we improve our product?
• If you were in charge of this product what would you
change?
• Now that you have this product, what’s the #1 thing you’re
able to do that you weren’t before?
• How would you feel if you could no longer use this
product?
Example open questions

• What should we stop doing?


• Why, or Why not?
• What other solutions have you considered?

Source: [Link]
Words to remember

„You need to think


about the unthinkable
and predict the
unpredictable.”
Benefits of strategic thinking

• You can inspire your team and company


• You are ready for less expected challenges
• You always know where are you heading with your
product
• You secure your comapny’s future
• You prove you understand your market very well
Steve Johnson from under10 consulting

„Roadmaps are
evidence of strategy.
Not a list of features.”
Roadmap summary

• Don’t be too date specific in your roadmaps. It’s mainly


about communicating your goals
• It’s your high-level plan
• Make it easy to undestand by your stakeholder
• Roadmaps are not set in stone, but help to show
stakeholders you are in control
• Be sure to prioritize value opportunities
Roadmap summary

• At the same time, be wary that not following a roadmap


might upset stakeholders and hurt your position
• Consult the roadmap with the team before making it public
• Make sure your roadmap is product, not tech driven
• Spend a lot of time on your roadmap, make sure it’s as
good as possible
• Make the roadmap easy to access and reference it often
Roadmap presentation

• It’s a good opportunity to recall your vision and strategy


• When showing your roadmap, try to supplement it with
early designs and/or analysis
• Try not commit to KPI improvements
• When showing plans for many teams, split the roadmap
into smaller roadmaps for clarity
Example roadmap

Q1 Q2 Q3 Q4

Payment process Snooze option

Additional
Login with google
ringtones

Alternative payment menthods

Play and App store optimizations


Words to remember

„While hardest to
estimte, value is the
core KPI to pursue”
Value summary

• Value can mean a lot of things, but it’s up to PM to be able


to quantify it and use effectively
• Look for initiatives that will grant you most value with the
least amount of resources
Value/effort chart

Value

Let’s consider those


JUST DO IT! and plan carefully

Perhaps soon Not going to happen

Effort
Abbreviation to know

P–O-C

Proof Of Concept
When to use POC?

• Before commiting money into a product – making sure it


possible to create it
• To create a pitch to stakeholders
• To gather technical knowledge
• To create an internal technical version of a planned
development
Abbreviation to know

M–V–P

Minimum Viable Product


MVP Summary

• MVP is a version of your product that has enough value to


show to users and find out if the road taken should be
continued
• MVPs take different forms, not necessarily of a working
software
• When building an MVP, don’t make it obvious to the user
• Try not to anger users with your tests
MVP Summary

• Test the riskiest MVPs on a smaller group of users and


grow the audience in time, if nothing bad happens
• Alternatively, try to dedicate your MVPs to users open to
try them knowing the risk
• Make sure you and your team understand the concept and
value of an MVP on a per initiative basis
Questions MVP can aswer

• Did metrics improve?


• Is there an audience for your product/feature or update?
• Are people willing to pay for it?
• What’s the users’ opinion on the direction you wish to
take?
Demo MVP

Effort: 5/5 Data: 4/5


Wizard of Oz MVP

Effort: 3/5 Data: 5/5


Dummy MVP

Effort: 2/5 Data: 2/5


Error MVP

Effort: 1/5 Data: 2/5


Poll MVP

Effort: 1/5 Data: 1/5


Landing page MVP

Effort: 1/5 Data: 3/5


Email MVP

Effort: 1/5 Data: 1/5


Social network MVP

Effort: 1/5 Data: 1/5


Crowdfunding MVP

Effort: 3/5 Data: 5/5

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