Product strategy in agile and scrum
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This document outlines a strategy for developing a product. It identifies problems with the current approach such as a lack of focus and direction. It then provides guidance on key elements to include in a product strategy such as defining the target market and their needs, key features, differentiators, and business goals. The strategy should create a shared vision and roadmap to guide development. Validation techniques are discussed to reduce risk and ensure the strategy addresses real customer problems.
Product strategy in agile and scrum
- 1. Product Strategy Lukasz Banach, 20.12.2016
- 2. Problems โข No directions/foundations to decide about goals and priorities โข Team/business areas split is suboptimal
- 3. Effects โข Big capacity, slow velocity โข No focus on real Product/Business Problems โข Team is unhappy with defocus โข Weโve to wait too long to deliver important things for company
- 4. โข โNo longer see the woods for the treesโ โข โPerfectly executing the wrong strategyโ
- 5. Preface โข Vision <-> Strategy <-> Roadmap <-> Backlog
- 6. Strategy โข Who the product is for โข Why people/customers want to buy it โข What the product is โข What makes it stands out โข What the business goals are โข Why it is worthwhile for company to invest in it
- 7. Market and needs Key features Differentiators Business Goals PRODUCTโจ STRATEGY
- 8. Market โข Target customers, people who are likely to buy and use โข Main problem of the product solves โข Primary bene๏ฌt it provides
- 9. Key features/diff โข Aspect of the product that are crucial to create value for the customers and push people to choose it over competitors. โข Not a list of all features here, focus on 3-5 key issues
- 10. Business goals โข How product is going to bene๏ฌt the company โข Not revenues only
- 11. Vision โข Big โข Shared (motivates and unite people) โข Inspiring โข Consise (easy to communicate and understand)
- 12. Vision WHY - Vision HOW - Strategy WHAT - Roadmap and Backlog
- 14. How to build innovative products
- 15. Launch Product - market ๏ฌt
- 16. Growth stage โข Penetrate the market to fend off (defend) the competitors โข Keep product attractive and re๏ฌne it โข Unbundle the product, create some variants โข Ensure pro๏ฌtability
- 18. KPIโs for Strategy โข S.M.A.R.T โข Qualitative and quantitive โข Lagging and Leading (Backward and forward) โข Beyond ๏ฌnancial and customers
- 19. Business Goals
- 21. KPIโs for Strategy โข Head of Product should be open and collaborative but decisive at the same time โข Make decision even if no agreement โข Great product โ weak compromises โข โA camel is a horse designed by committeeโ
- 23. Right Segmentation approach Customers ๏ฌrst Bene๏ฌts ๏ฌrst
- 25. Make Product Stand-out Strategy Canvas
- 26. Make Product Stand-out Eliminate features
- 27. Make Product Stand-out KANO model
- 28. Make Product Stand-out โข Customer experience โข Bundle/unbundle โข (Re)position
- 29. Strategy validation โข Identify and address the most risky project(s) ๏ฌrst โข Create Product Discovery Team (PM/DEV/UX/Support, Sales, Marketing, Scrum Coach) โข Be aware of failures โข Create an incubator (for innovative products) โข Talk and meet with Customers โข Donโt rely on one validation techniques (MPV, observation, spikesโฆ)