Making the Product Strategy EffectiveCreating a product strategy that is executable and effective is hard. Buket Baran a Senior Product Manager at Spotify with experiences from Amazon shared her thoughts on the subject.
Buket Baran shared her way of working with the strategy. To create an effective Product Strategy there are three phases to go through:
• Research
• Design & Plan
• Communicate
The first step forces you to make data-driven and customer oriented strategy. The second step is the actual plan and design of the startegy, that we all do using different tools. It is the core of teh strategic work, but not the one that drives the effectiveness of the strategy. In her experience we need to plan for communication already from the beginning to make it work
Bukets three tips for effective Product Strategies:
1. Create hypothesis and test the Product Strategy
2. Identify all other products that are affected by your Product Startegy. understand their goals and strategies. Support them with your product and they will support you.
3. Remeber that the most important stakeholeder for the Product Strategy is yourself. Make sure that you use strategy ever day your self.
Attached are some linkes to relevant tools in working with your Product Startegy and the presentation by Buket baran and the Graphical recording.
#29 Product Vision Board (PSV) - Create your core product strategy with PSV (developed by Roman Pichler)
#22 Business Model Archetypes - personas for business models
#21 Speed Layers - A tool to accelerate your product offering while maintaining quality and sustainable differentiation
#18 Product Strategy Creation Framework - A model and process for creating a Product Strategy
#16 Business Model Canvas - How to use the Business Model Canvas for your Product
