Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

10 Secret Product Roadmap Strategies You Can't Afford to Miss

4,109 views

Published on

A product roadmap is an overall view of the product’s requirements and a powerful tool for planning and organizing the journey of product development.

In essence, it’s a visual representation of prioritized user stories. It outlines when products are scheduled for release, and it includes a list of of the key features the product needs to deliver to fulfill the product vision.

Download your free guide on, 10 Keys for the Perfect Product Roadmap and start perfecting your roadmap step by step. Have questions? We are here to help. Email us at mvp@koombea.com and we're happy to make your next product a success

Published in: Technology
  • Hi. I came across this article yesterday. Actually, this is an incredible resource page. I have one useful resource almost the same subject. If you don’t mind, here is https://realtimeboard.com/blog/building-product-roadmap-template/ Would love to hear your feedback! Best regards, Daniel
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here

10 Secret Product Roadmap Strategies You Can't Afford to Miss

  1. 1. 10 Secret Product Roadmap Strategies You Can’t Afford to Miss
  2. 2. Written by Kate Swanberg 10 Secret Product Roadmap Strategies You Can’t Afford to Miss
  3. 3. A product roadmap is an overall view of the product’s requirements and a powerful tool for planning and organizing the journey of product development. In essence, it’s a visual representation of prioritized user stories. It outlines when products are scheduled for release, and it includes a list of of the key features the product needs to deliver to fulfill the product vision. It’s also crucial for the success of your product - and helps you plan for 01 10 secret product roadmap strategies you can’t afford to miss May 15, ‘15 May 22, ‘15 July ‘15 IR1 IR2 IR3 Features Road Rage Ported (part 1) Brickyard port started (strech goal to complete) Distributed platform demo ALL GUIs for both games demostrable New features (see prioritized list) Demo of Beemer game Game 1 Demo - Proof of Viability on new platform First two games available (Road Rage and Brickyard) First two games available (Road Rage and Brickyard) Features Road Rage Completed (Single user) Brickyard Ported (single user) Road Rage multiuser demostrable First multiuser game feature for Road Rage New features(seepioritizedlist) Features Multiuser Road Rage first release Brickyard Ported multiuser demo New features for both games (see prioritized list) Beemer game to E3 tradeshow? 10 Secret Product Roadmap Strategies
  4. 4. 02 It’s also crucial for the success of your product - and helps you plan for the future. A common misconception of agile management is that it avoids long-term planning in favor of only planning a few weeks out. But going agile doesn’t mean you don’t have a future plan—it just means that you’re more flexible about the path you take. Successful agile teams put a strong focus on strategy and understand their objectives. While agile doesn’t support highly detailed long-term plans up front, it still accounts for the future. With agile, you outline your high-level business goals first, think about the six-month and twelve-month plan, focus on problems over solutions, abandon timelines, and leave room to adjust priorities as you work towards the goals. In short, you’re not held hostage by an outdated plan. Instead, the plan is flexible. A large piece of that plan is a great product roadmap. 10 Secret Product Roadmap Strategies
  5. 5. 03 It sets the scene and leaves room for innovation by providing guidance (not lock-in) to focus on the right things, but be able to learn and adjust along the way. It aligns the development team, marketing team, and stakeholders and is just detailed enough so that everyone can derive actionable, well-timed next steps. It identifies sources of customer value creation that needs to be covered. It sets the pace for continuous innovation to consistently and sustainably deliver customer value. It motivates and inspires the team. Now that we know what the product roadmap is and what it should achieve, let’s look at the 10 keys to creating a great one. What does a good product roadmap achieve? 10 Secret Product Roadmap Strategies
  6. 6. The product vision is the first piece of a great product roadmap - and it starts with a product vision statement. The vision statement must articulate the goals for the product. It’s a quick summary that communicates how your product supports the organization’s strategies. Think of the vision as the overarching, shared goal that guides the product development team. In order to create the product, the development team must understand what the product needs to accomplish. One of the best ways to create your product vision is in the form of an elevator pitch. So, you can craft it with this format: For (target customer) Who (statement of the need or opportunity) The (product name) is a (product category) That (key benefit, compelling reason to buy) Unlike (primary competitive alternative) Our product (statement of primary differentiation) 1. A Great Product Vision 0410 Secret Product Roadmap Strategies
  7. 7. This is the path with which your team will fulfill the product vision. The product strategy is essential for decision making—every decision you make should align with the product vision. So, how do you define a good product strategy? Make sure it captures the target group, the needs addressed, the key features of the product, and the desired business benefits. Keep in mind 05 When you create the vision statement, make sure you address these three things: Who the target customer is What needs the product will address (highlight the most critical needs) How the product measures up to the competition, and what makes it stand out Another helpful tool for creating your product’s vision statement is Roman Pilcher’s Product Vision Board. 2. The Right Product Strategy 10 Secret Product Roadmap Strategies
  8. 8. 06 that the product strategy is just one path to the product vision, and it may turn out to be wrong. So don’t stick to the original strategy at all costs—be prepared to shift, or pivot if necessary. Your roadmap is useless if the people required to develop, market and sell the product don’t buy into it. The best way to get this buy-in is to involve the key stakeholders in the creation of the roadmap. So, put at least a few hours aside and bring everyone together for a two to four hour workshop. This way, you can leverage their ideas and knowledge to create a more realistic and actionable roadmap. Focus on getting consensus on features, requirements, plans, and product goals. In terms of the product goals, these can be metric driven goals (e.g. increase conversions by x%) or more general (e.g. mobile first). Once you get a consensus from the product team and stakeholders, you can tie product and feature decisions back to those goals as you move forward with the product. 3. Get Buy-In from the Team and Key Stakeholders 10 Secret Product Roadmap Strategies
  9. 9. 07 Themes are logical groups and requirements at their highest levels. Features are parts of the product at a very high level. They describe a new capability the customer will have once the feature is complete. The way to execute on the requirements is by transforming them into effective user stories. User stories are the bread and butter of agile development—and they are the main deliverable for product managers. A user story is a short description of a customer need. It’s a high level definition of a requirement, containing just enough information (usually only a few sentences) so that developers can judge the amount of time and effort needed to implement it. You should be able to fit most of your user stories into a simple structure like this: “As a [role], I can [product feature], so that [reason].” For example: “As a consumer, I want shopping cart functionality to easily purchase items online.” Each user story should be small enough so that it can be coded and tested within an iteration (ideally, just a few days). 4. Identify Your Product Requirements and Create Effective User Stories 10 Secret Product Roadmap Strategies
  10. 10. 08 After you identify the product requirement features and transform them into user stories, it’s time to group them into themes. A theme is a collection of related user stories. An easy analogy is to pretend you have a bunch of DVDs. You have DVDs of all kinds - James Bond movies, the Harry Potter saga, sports movies, etc. Now let’s say, on your DVD rack, you arrange all the James Bond movies together. In this case, that grouping of James Bond movies would be a theme. The reason you group user stories into themes is because it allows you to better focus on different areas of the product. For example, the theme of the next two agile sprints might be “job search” after which it might be something else, like “apply for a job” for instance. Each of these themes contains many user stories. Themes allow you to organize your roadmap in a way that describes value to customers and other stakeholders. They help keep your roadmap at a high level, especially for those long-term initiatives. 5. Group User Stories into Themes 10 Secret Product Roadmap Strategies
  11. 11. 09 Once you’ve grouped the features into themes, you need to estimate and order the product requirements. But before you can order the requirements, you must first estimate a score to represent the value and effort of each requirement. You must also be aware of dependencies. A dependency is a requirement needed before another requirement. Using the James Bond example, you wouldn’t watch the third James Bond movie before you watched the second. In terms of scoring, use a prioritization or scoring framework to guide the conversation between the development team and stakeholders. Agree on a set of primary business drivers for the product. For example: 1) Attract new users, 2) Retain existing users, and 3) Lower support costs. Assign relative weights to each of the business drivers based on importance. For example: Attract new users – 50% Retain existing users – 30% Lower support costs – 20% 6. Estimate and Order the Product’s Features 10 Secret Product Roadmap Strategies
  12. 12. 10 A chart like this allows you to generate a numeric score for each feature. Once you agree upon and assign a numeric score for every feature, order the features in descending order. This will be your product backlog. Your roadmap needs a realistic timeframe, where you can anticipate the growth of your product without resorting to speculation. A 12 month time- frame can work well, but you can also choose a time increment like a cer- tain number of days, weeks, months, or quarters (or longer, if necessary). Weight Feature x y z Theme x y z Retain existing Lower costs 3 4 3 Attract users 3 4 3 3 4 3 Total Score 3 4 3 50 30 20 7. Choose a Logical Time Frame 10 Secret Product Roadmap Strategies
  13. 13. 11 When creating the product roadmap, one thing to focus is on is prioritizing date vs. goal. Ask yourself if meeting a date or achieving a goal is more important for your product’s success. If the goal is more important, then start with the goal and estimate when the goal can be achieved. If you’re constrained by dates, then start with the date and figure out realistic goals you can achieve in that timeframe. For example, the first major release may have to achieve a goal such as acquisition, while the subsequent releases are launched at fixed dates. A goal-first approach is important with the product roadmap. Features should be derived from a corresponding goal. They are your pathway to achieve that goal. For example, if your goal is to improve the user experience (UX), then a feature might be “intuitive, hassle-free user registration.” 8. Prioritize Date vs. Goal 9. Goals Over Features 10 Secret Product Roadmap Strategies
  14. 14. 12 The goal-first approach is crucial, especially when it comes to adding fea- tures to the product roadmap. When adding a feature, there should be a goal that supports that feature. If not, you can either change the roadmap, adjust an existing goal, add a new goal, or drop the feature. For example, the first major release may have to achieve a goal such as acquisition, while the subsequent releases are launched at fixed dates. It’s not just enough to have a goal. You must also know how to measure progress towards and eventual achievement of that goal. That’s where key progress indicators (KPIs) come into play. Your KPIs are the metrics you’ll use to determine the progress and success of the goal. If your goal is to acquire more users, your metrics may relate to traffic, search results, and number of downloads. If your goal is to get more in-app purchases, your metrics may relate to session length, product rev- enue, active users, etc. 10. Select Helpful Metrics and KPIs 10 Secret Product Roadmap Strategies
  15. 15. 13 This white paper has discussed the keys to a great product roadmap. For help creating your roadmap, and/or transforming your idea into a great digital product, Next Steps Click here to contact us and tell us more about your project! 10 Secret Product Roadmap Strategies

×