May 1, 2019 // By Magenic
Product strategy can be boiled down to one simple phrase: eliminating pain points for your customers. Developing a roadmap to achieve that used to be done by building your strategy from the inside out – but there’s a new, more efficient way. Designing your strategy from the outside in lets you focus on your customer, opening an opportunity to get to know them better, and make their lives easier.
These guidelines will help you develop an effective product strategy road map. We’ve outlined a few tips below, but our white paper goes into greater detail. It’s all about putting the right product to the right audience. Then you’ll be on the path to success.
Focus on the customer
It’s not as obvious as it seems. In order to deliver a relevant customer experience, it’s important to understand who your customer is, what are their pain points, and how will your product solve them. Often, they will end up as part of your brand story.
Planning from the outside in
Find out how your customer does things – not how your organization does things. Gather insights from your customers, because their preferences change all the time.
Create feedback loops
This gives you invaluable measurement metrics for you to analyze data in close to real time. This is crucial – it tells the users that you’re listening to them and solving their most pressing problems.
You want to build a product strategy that allows you to revisit it based on feedback – it should never be locked in place, since consumer preference are never locked in place.