Guest: Ulrike Laubner-Kelleher
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How to Revitalize your Product
Speed. Speed. Speed.
Speed. Speed. Speed.
Johan Hagberg, the new member of the Swedish downhill race team, joined the session. He shared some words of wisdom on speed.
"It takes time to become fast."
Excellent insights from a 21- year-old.
All of us working with Products are trying to increase speed. The Tolpagorni Speed Layer model is one way of looking at it. Read more on speed strategies HERE
Most Product Management Models are, by design, impossible to implement. The reason is that they are built around the development. Product Management is about creating loved, sustainable and profitable products. This includes existing manging products without creating something from scratch. In fact, the models are almost all guiding product managers into the BUILD TRAP. (The great concept and book by Melissa Perri).
The reason why most models do not focus on the existing portfolio is complexity. Many perspectives and holistic thinking is needed when working with a mature product. Over the last years, new concepts have emerged in this field. The Growth Hacking thinking and the ISPMA (www.ispma.org) framework include 360-degree thinking on the product.
Ulrike Laubner-Kelleher shared a new perspective on how to manage an existing product. Over the years, she has worked with revitalization strategies fueled by customer insights.
She shared 7 main strategies:
- Growth hacking (sales-driven strategy)
- Competitive ( Focus on making your offer more attractive than the competition)
- Compliance (enter market with high demands on compliance)
- Pricing (Aggressive pricing strategies)
- Added value (with the product or in a new bundling/packaging)
- Customer focus (strong and selected customer focus)
- Simplification (reach a larger audience by simplifying)
I must admit that Ulrike's strategies are more precise than the five-point RE-strategies I shared in a LinkedIn-article some years ago.
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