In our last blog post on Product Management we talked about how effective Product Management ensures you define an awesome MVP. It can provide objective points of reference for the team, validate ideas before launch and create a healthy roadmap.
In this post, we wanted to share our experience on how to keep that momentum once the product is live. Through our partnerships with clients, we have seen effective Product Management must continue post-launch for the product to be a commercial and customer success.
- Know if you’ve made an impact
Creating great new products and features is difficult and costly. So you want to know that the hard work has paid off and therefore tracking your impact is key. Both qualitative and quantitative techniques should be used to help you understand what’s working and what’s not for you and your customers.
A clear KPI structure and analytics strategy are essential to give you a large scale picture of the ‘what’ by identifying usage patterns and habits. But it cannot tell you the ‘why’. Engaging with your users on an ongoing basis is the single most powerful and rich source of insight you can get once a product is alive. Interviews can help assess the value perception of products and features, whilst usability testing can help you understand if that value can be accessed. Now you can understand the why behind the data, if you’ve built the right thing and how to drive the product forwards.
- Bring the Product Strategy to life
After its glorious 15 minutes of fame during initial product definition, The Product Strategy is too often neglected. Yes, it is absolutely pivotal to the success of an MVP, but the truth is that it is even more important once the product is live. The strategy is a living thing, just like the product and therefore it must evolve together alongside it.
Each digital product, however small, does not exist in a vacuum. It should always be part of a larger digital strategy, and one that fits into the architecture and full digital landscape of your organisation. So it’s important that this strategy is not left on a shelf somewhere. It must become an important part of business-as-usual discussions across departments. Your stakeholders need to have an input on the product strategy and should understand how it relates to their objectives.
Identifying which product ideas are worth pursuing and preventing wastage creeping into the product depends heavily on a clearly communicated and up-to-date, relevant product strategy which is understood uniformly across the business.
- Get your stakeholders on side
Sometimes a product strategy is not quite enough to ensure you only chase down the awesome ideas. It can be overwhelming when you are receiving multiple requests every day to update this team and listen to findings from that team. How do you ensure that your workload is managed whilst maintaining a high level of quality? You need to be cut-throat on where these ideas are coming from, how they are assessed and what your definition of ‘valuable’ is.
Having clearly defined and well-communicated concepts of ‘value’ for both the user and the business will prevent less valuable ideas from reaching you in the first place. If you can proactively articulate a definition of ‘product value’ then previously difficult stakeholders will become invaluable allies. In turn, they’ll be able to proactively filter out the ideas that will not create value. Having your concept of valuable nailed down is also a life-saver during challenging scope conversations because you will have an objective point of reference against which to rank ideas, relative to one another.
If you would like to know more about Product Management or talk about how Nodes can support your team, please get in touch.