Episode 36: Grow with Product DNA w/Malin Svensson
1 December, 2020 / Host: Magnus Billgren
Grow Your Product's Success with Product DNA
In the world of product management, the handover between different stakeholders is a crucial aspect of successful product development. From market input to product management, from product management to development, and from product management to product marketing, there are many handovers that take place. To facilitate these handovers, Elekta has developed a model and structure called Product DNA.
Product DNA contains the core elements of the product value and its value logic. According to Malin Svensson, Head of Product at Elekta, the Product DNA has made their product marketing more qualitative and easier to create innovative marketing. This is because the Product DNA helps to ensure that all stakeholders understand the core value and logic of the product, which we will explore in detail in this article.
The Complexities of Product Development in Neurosurgery
Product development in neurosurgery is a complex and lengthy process that requires a considerable amount of time to ensure that the product is developed to address clinical needs while being user-friendly with low risk of error. In addition, product development must comply with regulatory requirements that vary from country to country. This is particularly challenging for companies like Elekta Instrument AB that distribute products globally.
With neurosurgery products being used in hospitals by healthcare professionals, it is crucial to ensure that products are user-friendly with low risk of error. Even if a product is peripheral, it must solve a clinical need and be easy to use. The success of a product launch depends on how user-friendly the product is, which is why product development teams spend a considerable amount of time on ensuring that the product is user-friendly and meets regulatory requirements.
The Challenges of Product Launch
Innovation is critical for the success of a product launch, and the perception of a product as innovative is essential for its success in the market. However, it is equally important to ensure that every unit of the product is manufactured consistently to maintain quality and trust. Product development teams spend a significant amount of time in the manufacturing transfer process to ensure consistency in product manufacturing.
The challenges of product development do not end with the product launch. Even if a product meets all the requirements and is user-friendly, it may not be obvious to everyone. It is critical to ensure that the product value is transferred effectively to sales and marketing teams to ensure customer adoption. This requires good handover to product marketing and operations, which is demanding and requires additional effort.
The Concept of Product DNA
Product DNA is an essential part of successful product launch because it ensures that everyone in the organization has a clear understanding of the product's value proposition, features, benefits, and intended use. By documenting this information in a structured way, it becomes much easier to communicate the value of the product to both internal and external stakeholders.
One of the main benefits of Product DNA is that it helps to ensure consistency in messaging across all channels. By providing a clear and concise description of the product, its features, and its benefits, it becomes much easier for sales and marketing teams to develop messaging that resonates with their target audience. This is especially important when launching a product in a global market where language and cultural differences can make it challenging to communicate effectively.
Finally, Product DNA helps to ensure that the product is compliant with all relevant regulations and standards. By documenting the product's intended use and features, it becomes much easier to obtain regulatory approval and to ensure that the product meets all applicable standards. This is critical for companies that operate in highly regulated industries such as healthcare, where failure to comply with regulations can result in significant fines and legal liability.
Best Practices for Creating a Product DNA
Creating a Product DNA requires a significant amount of effort and collaboration between product management, engineering, marketing, and regulatory teams. To ensure that the process is successful, it's important to follow a few best practices:
- Start early: Product DNA should be created early in the product development cycle to ensure that all stakeholders have a clear understanding of the product's value proposition, features, and intended use. This will help to ensure that the product is developed with these factors in mind and that any changes can be made early in the process.
- Involve all stakeholders: Product DNA should be a collaborative effort involving all stakeholders, including product management, engineering, marketing, and regulatory teams. This will help to ensure that everyone has a clear understanding of the product and its intended use, and that all perspectives are considered.
- Use a structured format: Product DNA should be created using a structured format that includes all relevant information about the product, including its value proposition, features, benefits, and intended use. This will help to ensure that the information is clear and concise and that it can be easily communicated to all stakeholders.
- Test and refine: Once the Product DNA has been created, it's important to test it with users and refine it based on their feedback. This will help to ensure that the messaging resonates with the target audience and that any potential issues are identified early in the process.
- Product development in regulated industries, such as neurosurgery, is a lengthy and complex process that requires a lot of time and effort to ensure that the final product meets clinical needs, is user-friendly, and has a low risk of user-induced errors.
- Launching a successful product requires more than just developing a good product. It also involves effective communication and handover to product marketing and operations, using a well-crafted product DNA that carries information about the product's value and uniqueness.
- To create a product DNA, product managers need to revisit their insights from the ideation phase, refine them based on current competitive intelligence and insights obtained during the development phase, and work with product marketing to craft a clear and compelling message that is understandable and approvable by regulatory authorities.
Now that we've discussed the importance of developing and communicating a strong product DNA, it's clear that effective product management requires a range of skills and knowledge. If you're interested in taking your product management career to the next level, you may want to consider enrolling in The Productbeats Product Management Certification Program. This program is designed to provide you with the tools and resources you need to become a successful product manager, including hands-on experience, mentorship, and a comprehensive curriculum covering everything from market research and product development to marketing and sales.
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