Product Management University Announces Product Strategy Framework for B2B
Today, Product Management University announced its Product Strategy Framework for B2B product management. This framework makes it easier for organizations to hit their financial and strategic goals with fewer stops and starts because it eliminates the need for every product to have its own strategy that ultimately stretches the organization too thin to execute any of them well.
There are two key aspects that separate this framework from all the conventional product strategy frameworks.
First and foremost, the Product Strategy Framework starts with customer value, the top-down business outcomes that are most valuable to your target customers instead of starting with your own business goals. Here’s why that’s so important.
When you start your strategic planning process with your own business goals, there are too many “good strategies” for meeting those goals with various product investments. It’s the root cause behind product priorities that are constantly under scrutiny. Every idea, every customer issue, every big sales deal and every promising partner opportunity can easily justify a different strategy for every product.
Worse yet, customer value becomes secondary by default because it’s too easy to think that customers place equal value on priorities that are most important to your own organization. If it’s difficult to quantify the business value your strategy to the customer, it’ll be even harder to quantify its value back to your own organization.
The second aspect of the Product Strategy Framework that’s unique is the collaborative approach it employs to ensure all disciplines, not just product teams, are financially and operationally aligned to the strategy, meaning it’s a strategy all stakeholders are on board with, it’s financially resourced, and everyone is confident it can be successfully executed.
At its core, the Product Strategy Framework gives you a paint-by-numbers approach for answering five key questions. The ultimate goal is to quantify the value your product investments will deliver to the market and the ROI of those investments back to your own organization.
- Which market segments are our sweet spots right now?
- Which market segments have the most growth potential over the next 1-3 years?
- What are the top business priorities of customers in those markets, why do they matter, and which ones offer us the best opportunities?
- What go-to-market tactics will ensure our strategy is a success?
- How much will this strategy contribute to the financial and strategic goals of our company?
Product Strategy Framework
Read more about how the Product Strategy Framework is used.
Schedule a consultation to discuss the Product Strategy Framework and determine if it can help your organization deliver higher-value solutions to the market with a higher ROI back to your own organization.
About Product Management University
Product Management University offers product management training for high technology companies in B2B and B2B2C in the areas of product strategy, product management, product marketing, presales product demos and customer success.
Our best practices align all stakeholders to a common view of the market with a single framework for uncovering customer value and measuring it so that it’s easier for organizations to build, market, sell and deliver products with strategic customer value that can be quantified.
