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How to Create a Product Strategy

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How to Build an Awesome Product Strategy
(even if it's not your job!)

Learn the 4 steps to create a great product strategy to solve the right problems for your business and its customers!

Published in: Technology
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How to Create a Product Strategy

  1. 1. Create an Awesome Product & Design Strategy (even if it’s not your job!) Aurelius www.aureliuslab.com @AureliusLab Brought to you by:
  2. 2. If we solve the wrong problem, on time and on budget, it doesn’t matter
  3. 3. What exactly is product strategy?
  4. 4. “An informed, intentional approach for a product or service driven by both customer needs/behavior and the goals that will maximize your success as an organization.” @zacknaylor@Aureliuslab
  5. 5. A product roadmap IS NOT a product strategy
  6. 6. WHAT EXACTLY IS PRODUCT STRATEGY? A collection of smart, informed decisions
  7. 7. DECISION RESEARCH INSIGHTS GOALS METRICS So then, what makes up a “good” product or design decision?
  8. 8. As a heads up… Aurelius aureliuslab.com This entire presentation is a small part taken from our free product strategy mini course, brought to you by…
  9. 9. Free product strategy email mini-course Sign Up For the Mini-Course Now (there’s way more content and case studies in the course!) https://www.aureliuslab.com/free-product-strategy-mini-course
  10. 10. Step 1: GOALS
  11. 11. GOALS Define what we are trying to accomplish, how it will affect the experience and what should happen as a result of this project or effort.
  12. 12. “Goals should convey our intentions in a way that explains the expected benefit to both our company and our customers” @zacknaylor@Aureliuslab
  13. 13. statements to improve a certain metric in a vacuum profitability targets prescriptive of a solution or action GOOD PRODUCT/UX STRATEGY GOALS ARE NOT…
  14. 14. EXAMPLES OF GOOD PRODUCT STRATEGY GOALS “Improve our new customer on-boarding process” “Provide more meaningful content for our first time visitors” “Deliver deeper value to product managers with our add on mobile app”
  15. 15. “Effective strategic goals provide definition for what good design or product decisions are” @zacknaylor@Aureliuslab
  16. 16. DEFINING GOALS An effective strategic goal for your product/experience should have… Statement of what we’re trying to accomplish Expected impact to the product/experience Success indicators
  17. 17. Step 2: USER RESEARCH INSIGHTS
  18. 18. USER RESEARCH Why user research is absolutely critical… Identify customer needs and behavior Define what problems exist and more importantly why It’s the way we learn how to meet our strategic goals
  19. 19. “In a startup no facts exist inside the building, only opinions.” @zacknaylor@Aureliuslab Steve Blank - The Four Steps to the Epiphany
  20. 20. DOING THE RIGHT RESEARCH FOR YOU Better enable designers and product managers the ability to communicate designs, features and product recommendations Step 1: Review your goal(s)…
  21. 21. DOING THE RIGHT RESEARCH FOR YOU Better enable designers and product managers the ability to communicate designs, features and product recommendations Step 2: Form research questions…
  22. 22. DOING THE RIGHT RESEARCH FOR YOU current tools Step 3: Create themes and/or categories to collect notes… processcommunication challenges designers product managers
  23. 23. CONDUCTING THE RESEARCH Be relatively organized and prepared Take notes about EVERYTHING Follow your themes and categories to ensure you’re collecting relevant notes and data to your goals
  24. 24. CREATING INSIGHTS FROM RESEARCH NOTES Applying meaning to raw research data Raw Data + Context = Insight
  25. 25. CREATING INSIGHTS FROM RESEARCH NOTES Creating insights beyond raw data is absolutely critical because… We need to communicate what we learned from customers about how to meet our goal(s) Decision-making from singular or raw data points is dangerous Meaning is worth more than fact
  26. 26. Raw Data tools process People struggle to show their teams why a design decision/ recommendation is best because they use separate tools for tracking research and actual product/project actions Research notes about… + Context = Insight Understanding of “why” we saw/heard what you did
  27. 27. Step 3: MAKING DECISIONS & RECOMMENDATIONS
  28. 28. DECISIONS What are we doing and why?
  29. 29. “You are not entitled to your opinion. You are entitled to your informed opinion. No one is entitled to be ignorant.” @zacknaylor@Aureliuslab Harlan Ellison
  30. 30. DECISIONS Make design decisions and product recommendations that clearly support our research insights and goals
  31. 31. RESEARCH INSIGHT GOAL DECISION + =
  32. 32. Step 4: METRICS & MEASUREMENT
  33. 33. METRICS Measuring the success of your design and product strategy
  34. 34. METRICS Choose metrics that tie back to our goal and its success indicators that will measure the success of each decision.
  35. 35. METRICS Example Metrics: GOAL NPS Total time on site/page Sign Up Count Better enable designers and product managers the ability to communicate designs, features and product recommendations Success Indicators: Which should help us: Improve Adoption and Customer Retention More people signing up for the product Follow up Surveys/Usability Testing
  36. 36. CREATING YOUR PRODUCT STRATEGY
  37. 37. PUTTING IT ALL TOGETHER DECISION RESEARCH INSIGHTS GOALS METRICS
  38. 38. HOW PRODUCT STRATEGY FITS INTO YOUR COMPANY DECISION DECISION DECISION DECISION DECISION DECISION DECISION PRODUCT STRATEGY ORGANIZATION VISION STATEMENT ORGANIZATION VISION STATEMENT
  39. 39. Free product strategy email mini-course Sign Up For the Mini-Course Now (there’s way more content and case studies in the course!)
  40. 40. Aurelius Product Strategy Blueprint: www.aureliuslab.com/blueprint
  41. 41. web: www.aureliuslab.com twitter: @AureliusLab https://www.facebook.com/aureliuslabfacebook: contact@aureliuslab.comemail: instagram: aureliuslab Aurelius

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