Product Collective (A Pendo Community)’s Post

“In part 1 and part two of this series, we explored why your product roadmap shouldn’t be a static document and discussed practical tips for keeping it agile and effective.“ Read “Product Roadmapping — Part 3: The Finale“ by Oluwasegun Akinshola Lawrence on Medium: https://lnkd.in/djvzZfFd

The Art of Product Prioritization: A Software PM's Journey (4/7) The Competitive Feature Analysis Matrix Our next prioritization approach focuses on what matters most - the customer's perspective. They see our product, our price, other competitive products, etc. If a competitor can claim for feature lockout on something that the customer really cares about, then your team will not get a seat at the table on the next big deal. Sometimes, your product may be competing internally with the previous generation software or another team’s similar product. By simply tabulating which features are planned for your product as compared to internal and external competitor products, we can classify each feature with the following functions. 1. Differentiate – a great place to be. 2. Maintain differentiation – staying ahead of the competition. 3. Bridge a gap – catching up to market leaders. 4. Maintain parity – keeping pace. For each feature proposal on your spreadsheet, additional columns may inform whether the feature is planned for the upcoming release (as a ‘Must’), the release after, or not at all. Lastly, each release may be rolled up to management by tabulating the number of features that fall in each of the 4 categories listed above. My take: Going line-by-line on competitive datasheets and comparing feature sets reveals not just feature sets, but strategic priorities and market focus areas. Chances are that they have already solved similar problems as you have. Maybe you have a more elegant solution to the same problem, or maybe not, and you’ll just need to be a fast follower. Regardless, you’ll need to decide whether it makes business sense to follow your competition in every respect or in only a few. Just because your competitor invested in a new feature does not mean it’s a great idea. Maybe they over-invested in a certain industry, leaving a nice door open for you in a different industry. On the other hand, competitive benchmarking can uncover some feature ideas (gems) that might make your tool sparkle. What methods do you use to validate competitive analysis against real customer needs? #ProductManagement #ProductStrategy #SoftwareDevelopment #ProjectManagement #Prioritization

Power of Customer Obsession As a product strategy and operations professional, I have lived, breathed, and slept on this principle throughout my career. Truly understanding your users' needs and building products that solve their real problems makes a huge difference. Let me share a personal experience to illustrate this point. Our team was working on a workplan management tool packed with features, but the response from our customers was lukewarm.We realized our initial emphasis on workplan management did not fully address the core needs of our users. What users were struggling with most urgently was summarizing data for status reports. The saying "Necessity is the mother of invention" definitely rings true. In our case, it was our focus on understanding our customers (customer obsession!). By listening closely to their frustrations and problems, we focused on what was important for our users. We designed a feature that streamlined the reporting process, making the software a one-stop-shop for status reporting. The results were overwhelmingly positive. Project managers expressed significant satisfaction with the ability to abandon cumbersome spreadsheet-based reporting, while executives loved the real-time visibility into project progress. The lesson here is to obsess over what matters. The best software product doesn't just add features; it solves real user problems. By listening to and obsessing over our customers, we create products that make their lives easier and their projects more successful. #customerobsession #productstrategy #productmanagement #CustomerSuccess #roadmap #features

Discover the key to successful product and service teams! From establishing a solid core squad to mapping skill clusters, learn how to drive brilliant delivery and maximise ROI in our latest insights piece #ProductManagement #TeamBuilding #TPXimpact https://lnkd.in/e7dhAdUg

So many different stakeholders — so many different perspectives. How can product managers secure alignment effectively? Our six-part series shows you how to do it in Aha! software: https://lnkd.in/gYQvKQAv #ProductManagement #StrategicAlignment

🚀Optimizing Product Delivery | 30 Tips in 30 Days - 𝗧𝗶𝗽 #14: Defining Product Effort When working in a large enterprise, the meaning of effort can become very convoluted. I use the idea of “Product Effort” to communicate clearly what it means when we’re delivering a new feature or functionality. Here’s how I break it down: 𝗧𝗲𝗰𝗵𝗻𝗶𝗰𝗮𝗹 𝗘𝗳𝗳𝗼𝗿𝘁 ⚙️: This involves all the behind-the-scenes work that makes the product function smoothly. 🔧 Examples: Configuration, backend system administration, integration tasks, and other technical activities. 📋 Approach: Define scope, estimate resources, and document technical requirements meticulously. 𝗙𝘂𝗻𝗰𝘁𝗶𝗼𝗻𝗮𝗹 𝗘𝗳𝗳𝗼𝗿𝘁 📝: This focuses on ensuring the product meets user and business needs. 💡 Examples: Discovery sessions, requirements gathering, process mapping, and stakeholder engagement. 🤝 Approach: Engage stakeholders in comprehensive discovery sessions, gather detailed requirements, and create process maps to guide development. By splitting Product Effort into these two buckets, I can provide a clearer picture of what’s involved in delivering new features. This helps align our teams, set realistic expectations, and ensure successful project outcomes. 🚀 #ProductManagement #TechnicalEffort #FunctionalEffort #ProjectSuccess #EnterpriseDelivery

-One of the most crucial and challenging tasks a Product Manager faces is backlog prioritization. Here are 5 widely-used frameworks, along with their pros, cons, and when to use them: 1) MoSCoW This stands for Must Have, Should Have, Could Have, and Won't Have. It helps Product Managers prioritize features by their necessity and importance. Pros: Simple and easy to understand. Cons: Doesn't account for dependencies or the relative value of features. Best for: Simple products and projects. 2) Kano Model A framework that focuses on customer satisfaction, helping Product Managers prioritize based on how features impact customer happiness. Pros: Takes customer satisfaction into account. Cons: Ignores cost and feasibility. Best for: Customer-focused products and services. 3) Value-Effort My personal favorite! This framework prioritizes features based on their potential value and the effort required, typically plotted on a two-dimensional matrix. Pros: Helps compare features based on both value and effort. Cons: The estimates for value and effort can sometimes be way off. Best for: Universally applicable across many types of products. 4) RICE This model prioritizes based on Reach, Impact, Confidence, and Effort, helping Product Managers assess a feature's reach and potential impact, along with the confidence level and effort needed to implement. Pros: Considers the potential reach and impact of features. Cons: Estimating these parameters accurately can be tricky. Best for: Use when you can confidently estimate reach, impact, and effort, or else it becomes guesswork. 5) Weighted Scoring Model Each feature is scored against various criteria like customer value, feasibility, and alignment with company goals, and then multiplied by the importance of each criterion to set priorities. Pros: Allows for prioritization across multiple factors and strategic alignment. Cons: Time-consuming and complex to set up. Best for: Products with lots of features where multiple considerations come into play. Of course, there are many other frameworks out there! Which one do you like the most? Personally, I’m not a fan of the “Manager told me to do it” approach. 😉 #productmanagement #productmanagers #prioritization

How Extra Space Storage streamlined product management by moving beyond spreadsheets! Managing product priorities with spreadsheets can only take you so far. As Extra Space Storage scaled, their product teams faced growing complexity and a need for more robust processes. That’s when they turned to airfocus to transform their workflows. Here’s how airfocus made the difference 💡 - Centralized prioritization: Using airfocus' Priority Matrix, Extra Space Storage’s team can now evaluate customer value, revenue impact, and development effort all in one place, making cross-departmental priorities crystal clear. - Integrated workflows: Our seamless Jira integration keeps data synchronized automatically, eliminating double data entry and ensuring real-time updates. - Enhanced transparency: A shared view of priorities and dependencies keeps stakeholders informed without constant status updates, reducing miscommunication and saving valuable time. The result--> Faster, data-driven decision-making, less manual work, and better alignment across teams. With airfocus, Extra Space Storage’s product teams can stay focused on what truly drives value and innovation. If your team is ready to move beyond traditional tools, check out our product tour to see airfocus in action: https://lnkd.in/eS6myw2Y. Or, comment below or send a DM for access to a demo account and experience how airfocus can streamline your product management.

3 Critical Mistakes PMs Make When Not Aligning with Customer Success Teams and How to Fix It ❌ Mixed Messages: When teams aren’t on the same page, customers get inconsistent information, leading to confusion and frustration. ❌ Overlooked Feedback: Valuable insights from customers can slip through the cracks, preventing crucial product improvements. ❌ Slow Problem-Solving: Without alignment, resolving customer issues becomes a maze, leaving customers waiting and unhappy. 🛠 How to fix them by aligning ✅ Host regular cross-team meetings where Product shares upcoming releases and the problem spaces they’re solving. This keeps CS in the loop, empowering them to handle customer inquiries with confidence and clarity. ✅ Give your CS team easy access to product roadmaps and updates(via tools like Aha or JIRA). CS teams can access relevant product updates via Slack, ensuring easy and quick access to product information. ✅ Always close the loop with CS when feedback is acted on / or even when it isn’t. A “no” with context is better than silence. It builds trust and keeps both teams aligned. ✅ When feedback piles up, prioritize what aligns with company objectives. Be transparent with CS about why certain features are prioritized over others, and make sure you regularly review feedback to adjust priorities if needed. Aligning your Product and CS teams doesn’t just improve teamwork; it ensures you’re creating a product that truly meets your customers' needs. 🤝 How do you keep your teams in sync? I’d love to hear your approach! #ProductManagement #CustomerSuccess #Teamwork #CustomerFeedback #PMTips