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The Guiding Principles of The Product Planning Process by ProductPlan
The Guiding Principles of The Product Planning Process by ProductPlan
of the Product
Planning Process
Take your product from idea to launch, to market success
Table of Contents
Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
How will I figure out if our customer wants the product idea we developed?
Which stakeholders will I need to involve?
Will we all agree on what goes into the Minimum Viable Product?
Will I be granted the resources and support to build it?
Even under the best circumstances, the journey from product concept
to market launch can feel overwhelming. And if you lack a transparent
planning process, you’ll never operate under the best circumstances. At
any point, you could find yourself frozen, unsure of what to do next, and
that’s the last place you want to be. Product management success defines
whether or not a product professional knows what to do next.
Between the one-sentence concept and releasing their two-hour movie, Let’s review a few key reasons product professionals should always build
those filmmakers had to take thousands of small steps to move the project their work around a product planning process.
forward. But one of their first steps, almost certainly, was to formulate a
strategic planning process. Write the script. Secure investment money.
Hire a director. Cast the actors—scout locations. There’s no way they
could’ve gone from idea to the film premiere without a plan outlining
strategic milestones.
Without proper planning at each stage of the process, your team faces a What if the filmmakers behind Space Heist were in such a hurry to start
greater chance of making misaligned strategic mistakes with your product. shooting their movie that they skipped a strategic step? What if they
Undoing those mistakes will mean more development work, more resources decided it was a waste of time to research the market for space-based
spent, and more time that your product isn’t on the market earning revenue films and instead relied on their intuition that the movie would find a
and serving customers. huge audience?
The team might miss learning that another studio was also working on a
space-robbery movie with a bigger-named cast by skipping the research
Product planning leads to more efficient and phase. Maybe they’d fail to uncover industry surveys and box-office stats
successful product development. suggesting audiences were losing interest in space movies. Or—perhaps
worst of all—they’d fail to learn that a director they all admired had just quit
another space movie due to a fight with the studio and was looking for a
similar project.
Here’s another way to think about this: Product planning leads to more
efficient and successful product development. When you take the right When you build and execute the right product planning process, you
planning steps upfront, your developers will be able to spend more of increase the chances that you can take advantage of opportunities that
their time working on the right things and helping you bring your product appear in your product’s path while avoiding the many pitfalls that could
to market sooner. take it down at each stage of your product development.
There are no lone-wolf product managers. Product management is a team Gets You to Market Faster
sport. To bring a successful product to market, you will need people’s help, (and Less Expensively)
trust, and hard work in development, sales, marketing, customer success,
senior management, etc.
But to turn these people from across the company into a well-coordinated
team, you’ll need a plan. You’ll need to show them that you’ve thought
through the strategic steps the group will need to take—from brainstorming
Improves Your
ideas, learning important details about your personas, building a product
roadmap, and determining what goes into the Minimum Viable Product.
Chances of Success
The more you can show that you’ve thought through this process and
developed a plan for success, the more willing, even enthusiastic your
product team will be about helping you bring the product to reality.
The product concept phase can and should be fun. One benefit of making These discussions should lead to product and feature ideas. And if you’ve
this the initial stage of your product planning is that it’ll be a great first created an atmosphere where people feel comfortable and valued,
exercise for the strategic team you’re building. The phase can help you those ideas might start flying rapidly as the astronauts in Space Heist.
quickly build chemistry and trust among the team. As a product manager, that’s your responsibility—establishing a trusting,
welcoming environment in your product brainstorming sessions that will
During this phase, you and your team will discuss what you know about your encourage people to unlock and share their creativity.
key personas. You’ll answer questions such as:
• What other products does our persona use but find lacking and great ideas.
essential capabilities?
• What solutions would our persona (or their company) find valuable
enough to purchase?
After a lot of brainstorming, with some debates, and almost certainly a DECIDE AS A TEAM
lot of laughter, you’ll have a list of viable product ideas. Your next step is
Have your team rank each idea and work together to come up with a
to narrow that list to the most promising concept. You can do this using a
winner. You can use the weighted-scoring approach, for example. You’ll
couple of strategies.
create a consistent set of cost and benefit criteria and then score each
idea against these costs and benefits. The product concept with the best
ASK YOUR PERSONAS
overall score wins.
You can also use quick market validation methods to learn whether your
product concept has a real user base. Here are a few fast, low-cost ways to When you have completed this phase, you could have a product concept
run your ideas by your target market: that the evidence suggests has merit. If so, keep going. But if either your
team can’t agree on a clear winner, or your prospective users don’t show
• Send out a short survey.
interest in the concept your team chose, you might need to revisit Phase 1.
If you’ve advanced to this step, you and your team have a product concept
and built up enthusiasm around it. That’s great. But before you invest more
time or resources, you need to examine the competitive landscape:
But it’s also worth noting that if your analysis reveals that competitors are
already succeeding with a similar solution, that might mean you need to go
back to Phase 1—and start over with another high-scoring product concept
from your list.
Let’s say that after your competitive analysis, you concluded there is a 02 QUALITATIVE
big, untapped market for your product concept. Now it’s time for some
Are your potential customers simply curious about your product, or are they
market research.
counting the days until you release it? Is this the type of product your users
would share with their friends, family, and coworkers? How often would
This phase should include gathering and analyzing two types of data.
users engage with the product, and would they view it as a must-have part
What’s the total addressable market for your product? What is the average
Analyzing qualitative research from in-depth interviews or focus groups can
customer lifetime value of similar products? How much do businesses
give you a better sense of how committed your market will be to buying your
making these types of products spend on development, advertising,
product. It can also help you shape the product to make it more valuable—
and other overhead? What percentage of the potential users you survey
even indispensable—to your customers.
indicate they’re likely to buy your product?
If your market research indicates that your product concept could find a Addressing that question might be the most significant step in the early
customer base, your next step will be to build a Minimum Viable Product. phases of the product planning process. The difference between choosing
The MVP should include, at most, a few core features. Maybe only one. You the right or wrong problem to solve with your MVP could make the
want just enough functionality to let your team learn if the product can difference between finding a ready market of early adopters—or having to
attract early adopters. start over again with a new idea.
The critical strategic step here is to figure out what those core features
should be. When you spoke with your friendly prospects, you learned about
Tip: Key question when designing your MVP: If we could build a
their challenges, frustrations, and goals. Those insights, combined with what
product that lets users complete just one valuable task, what would
you learned studying the competitive landscape, should give you an idea
that task be?
about what feature or two would create the most significant impact in your
bare-bones product.
You’re about to take your product from theory to reality. Soon after you’ve
released your MVP to the market, you’ll begin compiling your first real- Note: To this point, we haven’t discussed your coordination with
world data to gauge your early product’s strengths and shortcomings. If it’s the other people in your cross-functional team. But it’s important
a digital product, for example, you’ll learn things such as: to understand that before this stage, you should have been working
with your product marketing team to devise an MVP launch
• How many people have downloaded the app or visited the campaign. You will have been helping your marketing co-workers
website to use it? develop messaging and plan the rollout schedule for ads, press
releases, and other media opportunities.
• How many new people are signing up each day?
• Are users coming back to the app multiple times per day? reaches the right personas, and has sufficient numbers that give the
product a real chance to find an audience. You don’t want your first market
• Are users completing their tasks with our product in the release to fall flat simply because your team didn’t get the word out.
way we anticipated?
Assuming your MVP enjoyed some success with early users, you’ll gain a Now, here’s where the movie goes into fast-forward, and we quickly cover a
great deal of valuable feedback and usage data to help you build out and lot of ground. When you’ve built out a full-featured product, your team will
improve the product over time. be ready to begin the product’s lifecycle, which consists of four stages:
01 INTRODUCTION 02 GROWTH
Technically, you already introduced your product, in its MVP form, to At this point, your team has identified successful strategies for marketing,
early adopters. But now, with a full product ready for prime time, you’ll be sales, and pricing. Now the product itself is gaining new customers at a
presenting it to a much broader market. You might even be marketing the rapid pace.
product to user personas or industries you didn’t realize viable markets until
you put your MVP out there. Because your team is forward-thinking, you will also use this time to listen to
your growing base of users and turn their feedback into new ideas and goals
But you’ll want to treat this launch—product version 1.0—as its market on the product roadmap.
introduction. During this stage, you’ll be experimenting with messaging,
pricing, your sales strategies, and finding the most compelling value
propositions for various personas.
Your product has proven itself over time and earned loyal customers, but No product lasts forever, well, maybe the fax machine.
the market for new users is no longer massive. The good news is that’s
because many of those users are already your customers. No matter how successful it has been, the market for your product will fade
at some point. Tastes change, and newer technologies replace older ones.
But as your product enters the maturity stage, your team will spend less People find new ways of getting things done.
energy coming up with excellent new functionality and more time making
sure everything still works, and your existing customers are still happy. But that’s okay. It’s a natural part of the evolution of all products in all
industries. Apple stopped making the iPod Shuffle. And they’re still
doing alright.
Besides, by the time your product transitioned from the growth stage to
maturity, we’re guessing you started shifting some of your team’s attention
and creative energy into developing exciting new products.
Product Sunsetting will be a bittersweet moment. It’s time for you and your You don’t need to limit your use of this strategic product planning
team to throw your aging product a wild retirement party and send it off to a process only to those times your team is ready to build a new product
condo in Florida. from scratch. You can also use portions of the process for more minor
strategic decisions—such as deciding which feature to include next on
your product roadmap.
Think of this final phase as freeing up some If your team remains torn between several viable feature ideas, run through
resources and creative energy to work on the first phases of the process, just as you would with an entirely new
product. Review your competing feature ideas. Run through a prioritization
something new.
exercise to score each one. Identify the winner. Then start your competitive
and market research. This process can work for any strategic decision
regarding your product.
You might decide to sunset your product because your team has developed
a newer, better one. Or it might just be the case that the product’s After all, what is a strategic product planning process, if not a step-by-step
existing revenue is no longer sufficient to justify the continued costs of approach to making informed decisions about making your product better?
development, support, security, etc.
Building Your Product possible about where to spend your team’s limited resources.
Roadmap Planning Team The goal of your product roadmap planning team will be to vet and
confirm your product strategy. Through a series of strategic product
planning sessions, your team will answer questions such as:
Now you have a big-picture view of the product planning
journey, from coming up with a great product concept to
• What product functionality should we build first?
retiring your product after years of success on the market.
• Do we have the resources, skills, and budget to complete the
Let’s zoom in on one of the most critical steps in the work in the necessary timeframe?
strategic product planning process: building your product
roadmap planning team. • What will success look like?
Short Answer
Longer Answer
We’ll assume this is you. Your role on the roadmap planning team will be As a liaison between the product and development teams, your product
twofold. First, you bring a lot of industry research, knowledge about your owner will play an essential role in your roadmap planning.
personas, and experience working with customers. You will use these
learnings to help the team shape the product’s strategy. Hearing the early discussions about product strategy, customer needs,
and which functionality to prioritize will help the product owner better
Your second role will be to lead the team itself. You will host and guide understand the company’s vision and goals for the product. Productive
the team’s roadmap planning sessions, for example, and administer the discussion sessions will help the product owner communicate these
exercises to help the team prioritize themes and goals. You’ll also be concepts to the development team. Effective communication will improve
responsible for encouraging the team’s enthusiasm for the work they’re their workflows and reduce the chances of misunderstandings and re-work.
doing. That’s a key goal here. The more enthusiastic your planning
team is, the more engaged they’ll be in these strategic sessions,
cultivating creativity.
You don’t want to go through the effort to pull this team together and build
PRODUCT MARKETING MANAGER
out a roadmap, only to have the entire concept shot down by your executive
Your product marketing team will glean a lot of helpful knowledge by joining
staff. Having an executive sponsor on your team from the beginning will
your roadmap planning meetings. For example, hearing your discussions
help you clear this hurdle.
of product features and solving customer problems will help them with
Also, a company executive can bring valuable insights the rest of your team product messaging.
might not have. Executives have a broader view of the industry, current
You’ll also want a product marketing manager in the room to offer insights
business trends, and other factors that could affect the strategic decisions
about things like upcoming industry events, marketing’s budget, and how
you make for your product.
quickly they can develop the materials needed for a go-to-market plan.
These things could affect your product development strategy.
DEVELOPMENT MANAGER
• Sales
• Customer Success
• Marketing
• Executives
• Prospects and Customers
And here are a few ideas to tap into their knowledge and insights.
You’d be surprised how much you can learn from a coworker just by taking One great way to uncover the best thinking and ideas from your
them out for lunch or a drink. stakeholders across the company is by first showing them your thinking.
Think about how many interactions your customer success representatives Here, we recommend presenting your research, your roadmap team’s
have with real users of your company’s existing products. Do they hear a lot most current thinking, and ideally, the product roadmap itself to your
of similar questions about some areas of your products? Do a lot of callers stakeholders.
offer compliments about some surprising feature that they love?
Your sales reps, marketing colleagues, customer success team, and others
If you’re looking for guidance on how to begin developing a new product, across your organization want to contribute to your product. They have
this could be a great place to start. Take a customer success rep out for a knowledge, perspectives, and ideas that could add value to your strategic
beer. Or a sales or pre-sales rep. Or someone on the marketing team who product planning process.
goes to industry trade shows and talks to a lot of your target customers.
Show them why you’re thinking about building the product, the market
You could uncover plenty of valuable information just by having a casual problems it will solve, and the evidence that you’ve found an eager market
meal with a coworker. for it. Then, when you’ve told your strategy story about the product, invite
them to offer their input.
When you meet with your sales rep to discuss your product strategy, you
don’t want to force that person to stare at a spreadsheet-based roadmap.
That will only detract them from the product narrative you’re trying to tell.
Do you know another great way to generate enthusiasm from stakeholders If you’re going to host product brainstorming or strategy sessions with
while you’re discussing your product concept? Show them the product stakeholders, you can help tell the story behind your concept by showing
itself! them the data that led to your strategic thinking.
You can’t show the actual product, of course. It won’t exist yet. But with One great way to do this is with the visualization tools available from
an easy-to-use app for making wireframes of digital products, or mockups survey apps like SurveyMonkey. These apps let you present your survey
of physical products, you can give your stakeholders the next-best thing. results in beautiful, visual form—with pie charts, bar graphs, etc. They’re
Try a user-friendly app like Balsamiq, which allows you to design visually great conversation starters, which help break the ice and encourage team
compelling mockups for product ideas. engagement.
If your company already has products on the market, your team might
benefit from pulling together a handful of trusted customers whose
opinions you value.
You’ll then invite this group of customers, called a Customer Advisory Board
(CAB), to have an informal, in-depth discussion about your new product
idea, your existing products, their challenges, and other relevant topics.
You can have only your core roadmap team in these meetings. But we’d
recommend broadening the group and inviting representatives from the
other stakeholder departments we listed above—marketing, sales, customer
success, an executive, etc.
Note: There will be a big jump, and a lot of work, between stages 4
(developing the MVP) and 5 (releasing the entire product). So, we’ ll take
this product planning workbook only to the MVP phase.
As we talk through our persona’s issues and brainstorm ideas, I’ll • Workarounds my persona might also use to solve the problem
use the following method(s) to prioritize and rank each idea:
(For example, these might include weighted scoring, the Kano model, or value
versus complexity.) For these research tasks, I will enlist the help of:
Next, my team will conduct market research to learn: For these research tasks, I will enlist the help of:
Quantitative Details
• How many user/buyer personas are there for our product concept?
Qualitative Details
We will now work with the development team to create a Minimum For these tasks, I will enlist the help of:
Viable Product (MVP). First, though, my product planning team will
use our research and strategic thinking to decide on one or two core
features to include in the MVP.