Product strategy presentation

Product strategy presentation DEFAULT

Introduction to product strategy

Breakthrough products seem to appear from thin air. These are innovative or disruptive solutions that take people by surprise — in a good way. But behind every effortless launch is a solid strategy that is customer and market-driven.

What is 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. You want to align the organization around a shared vision and keep everyone focused on the work that matters the most.

A goal-first approach is a product manager's best path towards innovation. Strategic planning should take place before you dive into the detailed work of building your roadmap and developing new features. 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.

Craft your own product strategy →

From capturing the big picture to determining KPIs for success, components of product strategy include:

Foundation: What you want to achieve

Market: Your customers and the market landscape

Imperatives: The work you will accomplish

Foundation: What you want to achieve

Your strategic foundation underpins everything that you do. This is where you visualize your strategic direction and tie it to business models and positioning templates — all of which strengthen your product roadmap.

Vision

Product vision represents the core essence of your product and what makes it unique. It should be something that everyone in the company deeply understands — the "why" behind the product you are all responsible for.

Who exactly are your customers? What are the problems you are helping them solve? What opportunities and threats do you face? 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.

Strategic vision

Business models

Business models can be used to further understand the customer problems you will solve, the solutions you will build, and the growth opportunities that exist within your market. Models are useful when you launch a new product or want to evolve your strategy as the market changes.

There are many types of business models — including lean canvas, Porter's 5 forces, and the 10Ps marketing matrix, among others. The example below shows a business model developed by Aha! that focuses on why your product is worth buying. The model includes key product messaging, go-to-market details, and investments required.

Strategic business model

Positioning

Positioning is a strategic exercise that is usually done before a product launch. It helps define where your product fits in the marketplace and the unique benefits you provide. Strong positioning supports your marketing strategy, brand storytelling, and all content developed for customers.

Use a product positioning template to capture your mission, tagline, customer, market, and more — all the details you need to position your product for success.

Strategic positioning

Market: Your customers and the market landscape

You need to deeply understand your customers and what they need in order to build a product they will love. Developing personas and researching competitors are some of the best ways to learn the market landscape.

Personas

Personas are fictional characters that bring your customers to life. Creating user personas is one way to develop empathy for your customers — you document their likes and dislikes, professional aspirations, challenges, and more. All these details help guide how you build features that will solve their problems.

Strategic personas in Aha!

Competitive analysis

Competitive analysis involves capturing information related to alternate solutions. You can quickly see where these offerings excel and fall short. Doing this type of research provides insights into where you fit within the broader market and what opportunities exist.

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. Keeping this information in a shared location makes it easy for the team to stay current on how your product stacks up.

Competitor profiles in Aha!

Imperatives: The work you will accomplish

Based on the foundational work you have done so far, you can now tackle what many consider the most challenging — and most rewarding — element of strategy. This is the time to lay out the goals and key initiatives that will help you realize your vision.

Goals

Goals are measurable, time-bound objectives that have clearly defined success metrics associated with them. These are benchmarks that you want to achieve in the next quarter, year, or 18 months.

For example, if you aim to increase revenue and expand into new territories, choose clear success metrics and a time frame for completion. One goal might be to "increase revenue by 30 percent in the third quarter." The second might be to "expand into five new countries in the first half of the year."

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). As you can see in the screenshot below, this gives you a holistic picture of how your goals line up against one another.

Quadrant of strategic goals

Initiatives

Initiatives are the high-level efforts or big themes of work that need to be implemented to achieve your goals. These strategic investments link your goals to everything planned on your product roadmap.

The table below shows an example goal with sample initiatives and features that tie back to that goal.

Goal

Initiatives

Features

Increase revenue by 30% in Q3

  • Interview partners

  • Add rating option for partners

  • Introduce partner of the month program

  • Add custom branding

  • Enhance mileage notifications

  • Remind users when to fuel

Initiatives tend to involve cross-functional work. It can be powerful to visualize the timing and progress of initiatives, as shown in the example strategy roadmap created in Aha! below.

Visualize the impact of strategy changes on planned work using a strategy roadmap.

Vision, business models, positioning, personas, competitors, goals, and initiatives — all these elements serve as the groundwork for your product strategy. From here, you can build key product requirements such as releases, features, user flow and design, and technical specifications.

Using purpose-built product management software like Aha! allows you to link releases and features to initiatives and goals — so you can turn your plans into reality. By linking your strategy to your work, the business value that each effort delivers becomes clear to the entire team. Try a free 30-day trialof Aha!to see for yourself.

Sours: https://www.aha.io/roadmapping/guide/product-strategy

Product Strategy Framework Infographics Templates

Free Google Slides theme and PowerPoint template

Having a strategy plan for your product is one of the keys to success. Once you have set what is your vision, what do you offer, how are you going to penetrate the market, who the key players are, or what makes you different, the next step is to present all of that data in a clear and visual way so that your team knows exactly where hey are and where they want to be. Let us accompany you in your way to success by offering you this set of infographics for your product strategy, they are visual, easy to edit and represent data in a comprehensible way, so they’re exactly what you need at this point of the journey! The process is very easy: just download them, add your data and then you can paste them in whatever presentation or document you’re preparing.

Features of these infographics

  • 100% editable and easy to modify
  • 31 different infographics to boost your presentations
  • Include icons and Flaticon’s extension for further customization
  • Designed to be used in Google Slides, Microsoft PowerPoint and Keynote
  • 16:9 widescreen format suitable for all types of screens
  • Include information about how to edit and customize your infographics
Sours: https://slidesgo.com/theme/product-strategy-framework-infographics
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5 Hacks for Better Product Roadmap Presentations

Are you prepared for your next product roadmap presentation? How are you planning to run better product roadmap presentations? As product managers, the product roadmap is at the core of everything we do. It is a living document that sheds light on what’s happening today, tomorrow, and in the future. The product roadmap is a key point of reference to keep product strategy, business objectives, and execution aligned. When properly shared and evangelized across an organization, a product roadmap can unite, motivate, and align cross-departmental teams to achieve more. And the first step to evangelizing your product roadmap across your organization is getting it out there for all to see.

Read the Product Roadmaps Guide ➜

Today we look at a few simple tips for product roadmap presentations. We hope these will help ensure your next product roadmap presentation is well received by other internal teams.

5 Hacks for Better Product Roadmap Presentations

1. Tell a story

We’ve written before about the importance of storytelling in product management, so it should be no surprise that this topic is coming up again. An interesting story or anecdote can add valuable context to your presentation that your roadmap simply can’t do on its own.

You don’t need to write an elaborate piece of fiction to be a good product storyteller. In fact, the most powerful narratives are not fiction at all. Simply tell the honest story of how your roadmap came together. Was there a customer request that inspired a new feature? Are you adding some features and functionalities that help push you closer to the product’s vision? Were there any particularly difficult prioritization decisions you can share? Whatever your story is, use it as a tool to keep your audience engaged and to rally their support around the plan.

2. Focus on themes, not features

Grouping initiatives on your roadmap into thematic buckets is not only a great tool for prioritization but also an excellent communication aid. Theme-based roadmaps are one of the best ways to give your product roadmap a memorable and meaningful narrative because themes highlight the big picture. Rather than sharing a laundry list of initiatives product is focused on, themes show the broader objectives at play and make it easier for you to sell your product strategy.

Here is a graphic to help convey the difference between a theme and an initiative. Notice the goal-driven nature of the theme and the task-based language of the initiatives.

how-focus-on-roadmap-themes-not features

Read Feature-less Roadmaps: Unlock Your Product's Strategic Potential➜
3. Use visual aids

It should go without saying that a product roadmap presentation requires you to actually show people a visual representation of your roadmap. People need to see how all the various components of your product strategy fit together, so invest time in making sure your product roadmap is well-designed. There are several best practices for designing visual roadmaps, but here are a few guidelines we think are most useful:

  • Use color to distinguish between different themes, objectives, or categories on your roadmap. Don’t forget to include a legend outlining what each color signifies.
  • More than half of roadmap owners we surveyed in our 2021Product Planning Report told us they make different versions of their roadmaps for different audiences. One version of the roadmap is not always sufficient to convey both the big picture and a more granular view of what’s involved. Consider creating two (or more!) different views of your roadmap to better communicate your strategy.
  • Don’t overwhelm your audience with too many details. Your visual product roadmap should contain only the most relevant information. When in doubt, take it out.

4. Know your audience

Channel your inner marketer and tailor each presentation you do to the interests of the audience involved. Executives care about different aspects of product strategy than sales, and sales likely hold different interests than engineering. Furthermore, these groups have varying degrees of understanding around the inner workings of the product and therefore different ways of relating to you as the product manager.

Focus your roadmap presentations around sharing the most relevant information with your audience. If you’re presenting your roadmap at an all-hands meeting or to a broader audience, speak broadly about it. Don’t attempt to delve into a detailed explanation of each and every feature on your roadmap unless that’s what your audience wants. Instead, focus on showing how your product strategy supports organizational objectives and aligns with your product’s vision.

5. Tie in metrics

If you’re having a difficult time rallying the team around your plan, remember that metrics are the great arbitrator; they force us to make objective decisions and not rely on intuition alone. They’re also an important part of the narrative around your product roadmap. You likely used metrics to make your roadmap decisions in the first place, so put them back to work for you when presenting your product strategy.

If your organization is closely monitoring a handful of key business metrics, or has a “north star metric,” put these numbers front and center in your presentation. If it’s not immediately clear on your visual roadmap how initiatives influence key metrics, take time to walk through this in detail. Don’t underestimate the power of numbers. They are a powerful tool for selling your product strategy and getting buy-in across your organization…after all, you can’t argue with data.

Bonus Tips for Better Product Roadmap Presentations: Keep it going

1. Make it an ongoing conversation

Sharing your product roadmap is only a small part of the communication that needs to be done around product strategy to evangelize your mission. Avoid thinking about communication as an event and instead bake it into your culture and product strategy. After all, the product roadmap is a living document that evolves in response to the world around it. Your communication should reflect that. Transparency around product strategy at every step of the way ensures no one gets left in the dark.

2. Put your roadmap front and center

Once you’ve done a good job selling your product strategy, don’t hide it away. Keep an up-to-date copy of your product roadmap somewhere easily accessible by other teams who may want to reference it as they develop their own strategies. We’ve heard of a few teams who are so proud of the product roadmaps that they display them on large screens in their offices, but you don’t have to take things that far. A well-circulated and maintained internal document can suffice.

What strategies have you used to successfully share and evangelize your product roadmap across your organization? Let us know in the comments below!

Sours: https://www.productplan.com/learn/better-product-roadmap-presentations/
Wednesday April 1 2020 Chapter 13 Setting Product Strategy Part 1

Product Strategy Presentation

Giving a presentation about your product strategy does not have to be complicated. All you need to do is describe in a compelling manner how your product or service meets or exceeds the needs of customers. Do this by describing the product, its basic features and then any competitive advantages. You may need to distinguish your offering (perhaps based quality and availability) from any others.

Describing Your Product Strategy

Your presentation should describe your vision, objective, desired outcome and how you will report on your performance. Minimize the words on any visuals and include crisp charts to accentuate your verbal message. Script your presentation to ensure you touch upon all important points but do not read from your materials. Convey enthusiasm and confidence about the future for the product and your company.

When you are introducing a new item, your strategy is to capture the market and create demand for your product. If you are presenting a strategy about an existing product, you may need to describe how you plan to beat the competition.

Explain how you portray your product. You may market your product as the item available at the lowest cost. Or, you may depict it as the one with most value. Your presentation should describe how you will reduce a competitor's edge and create opportunities for your own product. This may mean you differentiate your product by what it does not have (for example, flaws in a competitor's product) and what it promotes instead. There may be a learning curve associated with using your product so be sure to address how you plan to handle that aspect. If there is an initial high cost, explain the long-term benefits and return on investment.

Then, focus on the customer. Describe how your product is useful across multiple industries, if possible. You may be able to redefine the customer for this type of product with some creative positioning. Describe complementary products and offer complete solutions whenever possible. Describe feedback you have received from current customers and perhaps a competitor's customers.

Your presentation strategy is most successful when it is matches the current conditions, acknowledges the competition and enables long-term growth. Depict how you will respond to fluctuating conditions. Adjusting to new circumstances may necessitate corrective actions in design, development, manufacturing, marketing, sales and service. Portray your company competency and strength in handling economic, social and political climate challenges.

Conclude your presentation with a statement on how you will establish your brand loyalty. Your audience should walk away with an understanding of your target market, business and benefit. So, for example, your final visual could simply make a statement such as "For busy professionals, our software application produces expense reports in half the time of other products."

Writer Bio

Tara Duggan is a Project Management Professional (PMP) specializing in knowledge management and instructional design. For over 25 years she has developed quality training materials for a variety of products and services supporting such companies as Digital Equipment Corporation, Compaq and HP. Her freelance work is published on various websites.

Sours: https://bizfluent.com/way-5420819-product-strategy-presentation.html

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How to Build a Product Roadmap by Walmart Senior Product Manager

You Should Use Frameworks & Templates When Developing Your Product Strategy

To develop a product strategy, most PMs use two or more strategic frameworks to make sure they’ve considered  the business environment and potential futures from all angles. Many PMs also use product strategy templates and checklists.(See footnote 1)

These templates, checklists, and frameworks help you make sure that you’ve (more) fully considered the strategic problems faced by your product and help you thoroughly examine your options.  They will lead you to comprehensive research (a good thing) and, by corollary, might lead you to develop a lengthy product strategy document.

This is good. Comprehensive is good.

But Don't Present Your Product Strategy Using the Same Comprehensive Frameworks & Templates

PLEASE, do NOT go for “comprehensive” when presenting to an executive audience (or any audience, for that matter).  Don’t try to impress them with the sheer amount of research you’ve done.

Instead, TELL THE STORY of your product strategy.

The Product Strategy Story

For every product and company and market, the “story” will be different, but basically you want to explain, briefly:

  1. The current state of the product.

  2. The future state of the market and the opportunities that will present themselves.

  3. WHAT you will do to take advantage of these opportunities, at a HIGH level – i.e. “what’s the strategic approach”?

  4. HOW you are going to take advantage of these opportunities.

Product Strategy Story Example

Here’s a very brief and ultra-high-level example:

  1. Product X is currently performing well in its market.  Revenues are $30M,  up 5% from the previous year. The gross margin is 70% and contribution margin is 40%.  We have over 7,000 users at 110 customers using the product.  Product X has 22% market share, behind leading competitors A (35%) and B (25%).

  2. The market is maturing, however, and needs are changing.  The core business is commoditizing – most competitors now have the same core functionality, customers regard offerings as largely interchangeable, and switching costs are low. New competitors are entering that have much lower cost structures and prices, but with “almost as good” functionality.

Result: prices falling by 50% across all vendors, within one year.

  1. The high-level strategy is to:
  • Lower on-going cost of sales and development for product X, to restore profitability.

  • Expand into and dominate a new market: customers who do A & B. This market opportunity is $X this year, expected to grow X% per year.  Competitors also eying the space include: A, B, and C.

  1. The Plan:
  • Cost cutting initiatives for product X in core segment: (include list)

  • Enhance Product X to handle use cases of the new market

  1. Roadmap of upcoming features for Product X

  1. The Product Manager’s Desk Reference by Steve Haines contains some really excellent product strategy templates.
Sue Raisty

About Sue Raisty

Born-again software engineer, former product geek, adoptive mother of boys, product coach & mentor, trail runner, tinkerer, no-bull communicator, wannabe writer, room mother & compulsive researcher.

Sours: https://blog.sueraisty.com/presenting-product-strategy-story/

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How to Nail Your Product Roadmap Presentation

The product roadmap presentation might be one of the most important meetings that a product manager has with internal stakeholders. This is, after all, often the go/no-go meeting in which the product manager either comes away with the green light from her executive management team, or is told she’ll have to improve the strategy before receiving approval to move forward.

But because they miss a fundamental yet counterintuitive truth about what these presentations are really about, many product managers prepare for and deliver their product roadmap presentations the wrong way. Worse, it is often this poor presentation — and not an inherent flaw in the product strategy itself — that leads to a thumbs down from the team.

Here’s that fundamental truth. At its essence, a product roadmap presentation is not primarily about sharing information. It’s about evangelizing your product strategy and persuading the stakeholders in the room that the plan and objectives you’ve laid out are the right ones to pursue.

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“Although a roadmap presentation covers a lot, it’s less about sharing info than about evangelizing your strategy.”

This might sound counter to much of what you’ve seen, heard and learned about from other product managers. A product roadmap presentation will obviously cover a lot of information. And on the surface, it can certainly look like a meeting that is meant to share information. If you’ve developed your product roadmap in the right way, your presentation will likely cover the major epics of your planned development, strategic objectives for the product, the timelines involved, probably some detail about your targeted customer personas, and the metrics you will be looking for to determine success — such as revenue targets and market share.

And yet, even if you’ve done all of the work in strategically thinking through these details, and even if you’ve put them together in such a way that gives your product the best chances of success, that is no guarantee your product roadmap presentation will earn you the buy-in you need from your stakeholders.

You can still come away from your presentation with a big fat no from your executive team — or a big fat “Huh?” from your developers, if the presentation is to them — if you don’t follow that fundamental truth and craft your product roadmap presentation just as strategically as you’ve crafted the plan for the product itself.

Common Product Roadmap Presentation Pitfalls

1. Presenting your plan without showing confidence and enthusiasm.

If this were simply an information session, it might not matter so much how you presented your product’s strategic plan. (Of course, any information session will be bolstered if it is presented enthusiastically and in a persuasive way, but this is particularly important when it comes to your product roadmap presentation.)

But remember, your primary goal with a product roadmap presentation is to evangelize for your product’s plan.

With that in mind, the worst thing you can do is dryly recite the facts, no matter how compelling those facts are, and simply rattle off a list of features you’ll be developing and what timelines and resources the project will require.

What to do Instead

Don’t hold back your enthusiasm! You obviously arrived at this plan, this set of strategic objectives, after diligent research and some serious thinking and brainstorming. This is the plan that you believe gives your product and your company the best shot at success. That’s exciting news, isn’t it? Share that excitement with the room. As long as you can back it up with logic and data, that enthusiasm will spread to your audience as well.

2. Simply standing in front of the screen and talking to your product roadmap.

Remember the last PowerPoint presentation you sat through where the speaker simply read the text on the slide? You don’t? That’s probably because you slept right through it. And because you weren’t awake, here’s a little tidbit you missed: Everyone else in the room slept through it, too.

That’s how your product roadmap presentation comes across to your audience when you simply project your roadmap onto a wall and then talk through the document, detail by detail. Nobody in the room gets a sense of your larger strategic vision, so you lose any ability to persuade them of your plan’s merit. And the people in the room probably won’t remember most of the details anyway.

So when you present this way, you take a strategically vital meeting — the product roadmap presentation — and turn it into a snooze-fest that accomplishes almost nothing.

What to do Instead

Talk about your strategic vision! When sharing your product roadmap, explain the ‘why’ behind your decisions. Better yet: Persuade your audience of the merit behind that ‘why.’ Refer to your product roadmap document — the epics, the timelines, etc. — only after you’ve oriented everyone in the room to your big-picture thinking. Only then will those details start to make sense anyway. (And only then will the audience still be awake.)

3. Burying the lede in the details.

Because they come so well prepared for these meetings, many diligent product managers can’t wait to share all of the information they’ve gathered with their audience. They have a long list of interesting features they’re planning to build. They’ve developed a complex but workable plan for deploying the right resources on the right parts of the product’s development, and they want to walk the audience through that as well. And they probably also have many useful pieces of data relating to total addressable market or average sale sizes for comparable products.

But in rattling off all of these details, these product managers forget the lede — the headline, the overarching strategic objective or best-case scenario for their product if it has a successful market launch. And remember, that lede is precisely the reason you’re calling this product roadmap presentation in the first place. So it needs to come first in your presentation.

Don’t just jump in and overwhelm your audience with ground-level details about the day-to-day operational plan for your product, or all of the individual data points and metrics that led to your decision to prioritize one feature over another. These details, almost by definition, cannot inspire anyone in your meeting to enthusiastically sign on to your project, let alone to want to dive right in and help you make it happen.

What to do Instead

Tell a story! Explain to your audience that you’ve identified an important strategic problem to solve for your market — a way to help your target user personas avoid or minimize a real challenge they face, or a way to wow them and make their lives better. Then show them how your product — not every feature, but a high-level elevator pitch of the product — can solve that problem. And then show the room what solving that problem, and building the product the way you’re envisioning it, will mean for your company — more revenue, more market share, a competitive advantage, whatever.

That’s how you present a product roadmap! And in case you’re wondering, this is how you build one.
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Sours: https://www.productplan.com/learn/nail-product-roadmap-presentation/


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