Product strategy in agile and scrum
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This document outlines a strategy for developing a product. It identifies problems with the current approach such as a lack of focus and direction. It then provides guidance on key elements to include in a product strategy such as defining the target market and their needs, key features, differentiators, and business goals. The strategy should create a shared vision and roadmap to guide development. Validation techniques are discussed to reduce risk and ensure the strategy addresses real customer problems.
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Product strategy in agile and scrum
- 1. Product Strategy Lukasz Banach, 20.12.2016
- 2. Problems • No directions/foundations to decide about goals and priorities • Team/business areas split is suboptimal
- 3. Effects • Big capacity, slow velocity • No focus on real Product/Business Problems • Team is unhappy with defocus • We’ve to wait too long to deliver important things for company
- 4. • “No longer see the woods for the trees” • “Perfectly executing the wrong strategy”
- 5. Preface • Vision <-> Strategy <-> Roadmap <-> Backlog
- 6. Strategy • Who the product is for • Why people/customers want to buy it • What the product is • What makes it stands out • What the business goals are • Why it is worthwhile for company to invest in it
- 7. Market and needs Key features Differentiators Business Goals PRODUCT STRATEGY
- 8. Market • Target customers, people who are likely to buy and use • Main problem of the product solves • Primary benefit it provides
- 9. Key features/diff • Aspect of the product that are crucial to create value for the customers and push people to choose it over competitors. • Not a list of all features here, focus on 3-5 key issues
- 10. Business goals • How product is going to benefit the company • Not revenues only
- 11. Vision • Big • Shared (motivates and unite people) • Inspiring • Consise (easy to communicate and understand)
- 12. Vision WHY - Vision HOW - Strategy WHAT - Roadmap and Backlog
- 14. How to build innovative products
- 15. Launch Product - market fit
- 16. Growth stage • Penetrate the market to fend off (defend) the competitors • Keep product attractive and refine it • Unbundle the product, create some variants • Ensure profitability
- 18. KPI’s for Strategy • S.M.A.R.T • Qualitative and quantitive • Lagging and Leading (Backward and forward) • Beyond financial and customers
- 19. Business Goals
- 21. KPI’s for Strategy • Head of Product should be open and collaborative but decisive at the same time • Make decision even if no agreement • Great product ≠ weak compromises • “A camel is a horse designed by committee”
- 23. Right Segmentation approach Customers first Benefits first
- 25. Make Product Stand-out Strategy Canvas
- 26. Make Product Stand-out Eliminate features
- 27. Make Product Stand-out KANO model
- 28. Make Product Stand-out • Customer experience • Bundle/unbundle • (Re)position
- 29. Strategy validation • Identify and address the most risky project(s) first • Create Product Discovery Team (PM/DEV/UX/Support, Sales, Marketing, Scrum Coach) • Be aware of failures • Create an incubator (for innovative products) • Talk and meet with Customers • Don’t rely on one validation techniques (MPV, observation, spikes…)