2024 PRODUCT STRATEGY & ROADMAP | how to prioritise & FREE template

Product Strategy and Roadmap Alignment 📊 This video provides practical guidance on creating a roadmap, suitable for both new and experienced product managers. 💡 Prioritizing strategically is not about finding a perfect formula, but about experimenting, being lean, and agile, and learning from mistakes. 🗺️ The product roadmap should enable the product strategy, which should be informed by the company's overall strategy and vision. 🎯 Your strategy is where you are headed and how you're going to get there, but the road map is the actionable plan and the work you are going to do to get there. 💡 The single page layout for product strategy provides a comprehensive framework for considering all necessary aspects of the strategy. 🔗 Everything in the roadmap should relate back to the key metrics to ensure progress and success. 💡 The most important thing when talking about competition is not talking about everything that they are doing but it's where you sit in position to them. Balancing Incremental and Disruptive Innovation 💡 The product strategy and company vision should focus on bold, impactful ideas that take leaps and bounds, rather than just incremental improvements. 📰 Amazon's unique approach of starting with a press release for a product to give them a vision for what they want to work towards, challenges the traditional product development process. 🎯 Balancing small changes with big leaps and bounds in product strategy can be crucial for moving the product area forward. 📈 Balancing incremental changes with big leaps and bounds in product strategy is essential for achieving identified metrics and goals. Customer-Centric Approach and Metrics Focus 📊 The most important thing for product improvement is to focus on metrics such as acquisition, retention, monetization, activation, and engagement. 💰 Pricing changes can significantly impact the number of customers interested in trying your product, such as implementing a free trial or simplifying plans. 💡 It's important to be specific about who we are building for and solving for, and to go into the needs of each customer segment or persona.