Managing the workflow can be quite the challenge, regardless of your company size, values, goals or even market share. Especially in these times of uncertainty, when everything moves at such a rapid pace, and the only constant thing is … well, change. How can we manage change, adapt to it, embrace it and make the most of it? What happens when the workflow we thought we had under total control takes an unexpected turn?
Of course, every situation is unique, hence it will need a different approach especially designed for it. The good news is that we have you covered. And because time is of the essence, we captured our crème de la crème solutions in TOP 6 product strategy tools to have in your toolkit.
So, without any further ado, let’s get started, shall we?
1. Lean Hypothesis for de-risking product development
Lean Hypothesis is a truly enticing and extremely useful approach in product or software development because it basically breaks down the process into testable parts, which minimizes risk, increases speed of development, and creates product confidence.
It’s ideal for when you identified a problem on a specific part of the process, and you need to resolve it. Also for when you have a product idea, and you need to be concise and disciplined about it.
This approach allows you to intervene on each part of the product process individually, as soon as you identify an issue and recalibrate it so the final user can enjoy a smoother experience and the product itself be able to work perfectly.
Problem – Solution – Result. As simple as that.
Are you interested in keeping the risks of product development at minimum? Find out more about “Lean Hypothesis” and how it can help your product development by enrolling on our free online course here.
2. The 5 Dysfunctions Pyramid for team alignment
They say there’s no “I” in “team”, and it’s true. That’s why when starting a new project, it’s crucial to have a perfectly aligned team (or at least optimally aligned). It may sound like a cliché, but it actually makes all the difference in the process of crafting a product idea, developing the product itself, implementing it and keeping it running.
Patrick Lencioni developed a very easy-to-follow list of dysfunctions when it comes to working as a team, presenting the challenges and dangers (if you may) that it implies. He sensibly structured them into a pyramid of 5 dysfunctions.
Taking into account these 5 dysfunctions and everything they can generate, you can prevent or manage whatever team-related issue may arise in the lifecycle of product development.
Are you worried about your team synergy around common goals? Check out our free online Masterclass on “Managing People” and find out how you can manage these challenges.
3. The Full Marketing Funnel for better product strategy
We’re used to hearing that the final result is all that matters. Especially in marketing when most of the time the primary goal is the (product) acquisition. However, there’s more to the story that meets the eye.
The marketing process is a very complex one, and it should be managed in parts, giving each and every one of it the importance (and analysis) it deserves.
That’s why the Full Marketing Funnel strategy is so useful. Because it doesn’t focus only on the final conversion (the actual acquisition), but rather on conversion between stages.
It basically concentrates on the entire 360-degree customer journey and constantly nurtures relationships and builds better brand experiences along the way, not just at the end. From the Awareness stage (when it gets the audience interested in the brand) to the Consideration stage (when it puts your product in the spotlight) all the way to Conversion.
That’s why every business should invest in this methodology in order to have a better overview over their clients journey and succeed in a very competitive environment.
Need guidance in adopting the Full Marketing Funnel and making it work for your business? Our free online masterclass about “Growth Marketing” will help.
4. Rapid Prototyping for product validation
Rapid prototyping is essential in the creation process. It doesn’t really matter if we’re talking about a simple idea, a product, a service or even a business. It helps you understand the entire development process, quickly identify any potential issues and also acknowledge and adapt to the market’s response.
Early-stage feedback helps ease the development process and minimizes the risks of failure, while increasing the adoption of the said product or service.
“Test” and “validate” are the two key factors that will help you learn what works and what doesn’t on an ongoing basis, ensuring that you’re on the right path of implementing the product.
Are you in the stage of “building something new” but you’re not sure of how it will be received by the market? Find out more about how “Rapid Prototyping” removes uncertainty and get insights on how to best apply it to suit your business’ needs with our free online course here.
5. User Journeys for building products that customers love
Whether you’re a designer, a developer or an entrepreneur, one of the key-essentials of developing a product is to know your user. It’s vital and it tailors the entire development process.
So, it goes without saying that creating and utilizing a user journey tool is necessary in order to better know your users and better serve them too. Also, it helps you build a better and stronger product, a more sustainable one, which answers specific needs and requirements and even anticipates them. Especially since user preferences and demands are evolving and changing constantly, having a direct impact on how you build your software products.
Need guidance in building products that your customers will love and talk about? Check out our online free course on “Design Thinking”.
6. The Agile Sprint Plan for de-risking and speeding up product development
Building a product in a stable environment is not an easy feat. It’s not impossible either, and one of the most efficient ways to get there is the Agile Scrum methodology. Among a lot of good things it does, it helps you create and follow a roadmap which enables your team to overcome milestones and meet deadlines. What more can you wish for?
We already touched the importance of team synergy, so with that in mind we encourage you to consider this agile management framework that will support your software development team members to work feverishly and efficiently on delivering their tasks.
Scrums allow you to break down a complex project, like designing a software product into a series of sprints, thus making the work more manageable for the team members and allowing them to adapt to certain changes that are much likely to appear in the process.
Want to know how the Agile methodology helps us deliver fast and flawlessly? Find out more in this article.
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