On this week’s SBI Insider Video Podcast we discuss three core areas of a successful product strategy. Our guest today is an expert on the topic, John Mansour, the founder of Proficientz, a firm that specializes in B2B Product Management.
Great sales and marketing teams often fail to grow revenue because they are in the wrong markets with the wrong products. Product leaders who help their companies grow revenues faster than their industry and competitors have a different mindset than their peers. They approach this from the perspective of “what can I sell” instead of “what can I build.”
Watch as my colleague, Mark Synek, Principal at SBI, and I discuss with John Mansour the approach to market segmentation, product portfolio and product road map best practices.
Follow along in this discussion with the latest resource by downloading the 10th annual workbook How to Make Your Number in 2017. Turn to the product strategy section and flip to page 108 of the PDF.
We discuss 3 core areas of product strategy, including:
- Market Segment – How to determine which market is most attractive for your solutions.
- Product Portfolio – How to inventory the market problems that your product uniquely addresses.
- Product Road Map – How to develop a plan to bring products to market that solve problems.
The discussion takes a fascinating turn when we describe how to validate whether the problem resolution is worth the investment. John describes how to avoid the trap of analyzing through a product lens. Instead determine the value of resolving the problem.
A controversial discussion explores which products to invest in, which to maintain and which to bring to end-of-life. Product leaders must decide where to invest in and where to sunset. John describes a customer-centered approach to map the products back to the customer organization. This is done by connecting the products to the individuals in the client organization and documenting each solution impact.
John then wraps our discussion by giving our audience 3 simple tips you can implement immediately in the product strategy.
If you need more help, download our 10th annual workbook, How to Make Your Number in 2017. To request a workshop with a go-to-market strategy expert simply sign up for a MySBI account and check the box in your preferences to request a workshop.