Product management, new ideas - often ignored corner cases
Many of you would have read books or articles on product management (PM). A consistent message in PM literature is that products are built to solve customers problems. The product roadmap, prioritisation, etc. should be aligned with customer needs. It's important to speak to customers regularly and be in-synch with their problems/pain areas. Following these basic tenets would help the PM and tech teams build products that customers want to use/buy.
The above message seems logical and pragmatic. But is there more to this? Have PM books/ articles missed a few corner cases?
A few cases that come to mind are:
- Do customers always know the problems they are facing? Do they care about their problems?
- If the customer problem involves several external and internal entities, where does one start? Isn't the MVP going to be difficult?
- Does one only take up new or unsolved problems?
- How do PM teams of mature products(like Windows 10, Gmail) spend their time?
- Are senior management (non- direct users, buyer/decision maker persona) able to relate to the product value proposition? (Even if it's a 'Yes' the problem doesn't go away as they may not champion the product despite the benefits)
- How convinced are you about the value proposition ? Have you consulted domain experts/industry veterans on the problem you are solving? Do they believe that it can bring about change?
- Do you have the energy and patience to fight a long battle to change mindsets? Winning the first few clients can be a drag. Persistence and conviction is critical to cross that initial hump.
- Is the reward worth the risk? Will customer perceive the big savings or optimisations delivered by the product? Are the potential earnings from product sales remunerative?
- Is the target market size big? Once you are able to convince a few clients to buy/use your tool, competitors will enter the space.
- If there are informational and transactional aspects to the product, one can start with the informational parts. The transactional aspects could be done manually by staff. E.g. if its a multi-party marketplace, a multi-entity portal can be built that shows prices that brings in transparency. The price discovery process itself can be a back-end manual process.
- In the product functional design assume some entities will not be using the system consistently in the early stages and device strategies around these scenarios.
- Look for opportunities to help entities with bits of their daily work (for e.g. if they aren't using the system can you use it on their behalf, they can give their instructions on phone or email). This indirectly gives the PM team a good sense of the user requirements and the opportunity to build a better product.
- Only if and when all entities use the product or service the product buyer gets all the benefits. To achieve this you may have to help the primary product buyer build traction. Leaving things completely on the buyer will result in him/her failing on the product roll-out and eventually backing out. The buyer will blame the complexity of the product or give some other reason for stopping the product subscription. It's not uncommon to proxy product usage on behalf of the entities in the first few iterations to simulate traction on the platform.
- It's important to keep a log of the learnings, sequence of activities, etc., tracked well so that new client or new use-case roll-outs become easier, faster and simpler.
- The ability to price the product at a lower cost with comparable features as competitors.
- One has identified client segments that aren't covered by existing players.
- The existing products available are either over servicing (basically an overkill for many client types and priced high for them) or under servicing ( the client expects the product to have modules "a, b, c, d, e" bundled in a single unit, but most products have only some of the modules.
- The solutions designed by your product is unique and has a different flavour to what's available.
- A market survey done by you shows clients aren't happy with the existing products (because of service quality, usability, etc.).
- The size of the market is so big that it can easily support many players.
- Don't change for change sake, it's better to stick to the paradigm "if it ain't broke don't fix it".
- New product releases may become infrequent and insipid, but that's okay. Don't give into temptations to add unnecessary features.
- Customers are familiar and are comfortable to a style of working. So any big product change should also bring in a big jump in benefits. Otherwise it will make users unhappy and they will question the changes or even stop using the product.
- PM work can involve competitor analysis (to see if they have added any compelling features to their product) and thinking of lateral use cases(not directly related to the main product but has a lot of synergy e.g adding Chat, Ticket management modules to a CRM product) which could be blended into the product.
- One can focus on the non-functional aspects of the product like speed/performance, feature availability across devices, etc. This includes removing outdated modules which aren't being used or are no-longer relevant.
There could be many more scenarios where its a tenuous line between the customer, customer's problem and PM. While the path to navigate this would require creativity, the outcomes of building products that solves customer problems and products that the customer is willing to pay for remains the same.
Senthil Radhakrishnan
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