As a product manager, product strategy is one of my favourite parts of the job. Here are 5 easy steps that can help you as you start out in your own field:
- Have a clear vision of the purpose of your product. The goal is not how technologically advanced your product looks but how your product is going to solve the customer’s problem in a simple and straightforward manner.
- Identify and respect your target audience. Know whom they are by conducting actual research on what they consume and what frustrates them about using other brands. In essence, understand the needs of the customer. What are they willing to spend money on? You respect them when you act on their feedback. It’s a simple way of saying, ‘we hear you.’
- Know your competition. Figure out what makes your product better than theirs or, what makes theirs better than yours. Then use those advantages or disadvantages during the development phase.
- Have a platform application strategy. This defines how you’re going to build up a mobile app, web app or website based on your product. The effectiveness of your app, website and the product itself are all intertwined. So, it’s very important that all succeed if you want a positive outcome.
- Set realistic goals and deadlines. It’s great to dream big but understand that goal setting is instrumental to successfully launching your product. Use smart, time-sensitive deadlines that you can repeat and even improve on.
Finally, as a bonus, always work with your team to have a clear roadmap. Let each member be up-to-date with the inevitable changes in the strategy. Can you see a clear path for your product already?
I am #ThatProductGuy
