With ad-funded models increasingly looking like a risky strategic decision for some product verticals at least, consumers have shown more willingness to pay for digital products and services they feel are valuable enough to do so. And with that, let’s take a look at some alternative business models you might want to explore.
Product principles are used by product teams to help guide decision making. They may initially feel like a nebulous corporate waste of time, but once you’ve invested some time in developing them, you’ll rarely wish you didn’t.
Product strategy isn’t simply about clear decision making; before you can even begin to make any decisions about the direction of your product, you need to spend some time in diagnostic mode where you try to build a big picture snapshot of the health of your product.
Why an understanding of how your product is positioned is criticalA key responsibility for Product Managers is to define how their products are positioned in the market. Pricing, user experience, features, performance, branding, customer service and partnerships...
If your company’s success depends on growing effectively, you need to get these things rightWhen a company grows quickly, it undergoes stress. The faster the growth, the more the stress. Structure can make the situation better, but only if it is designed correctly for...
Of all the different trends that product managers need to be aware of, technical trends are some of the most difficult, since the space is constantly evolving and no one is ever sure whether a new technology is actually going to become widely adopted, or whether it’s just another flash in the pan.
6 ways to price your SaaS product using leading SaaS businesses as inspirationPricing a product is a critical part of product management; it’s rarely something product teams will or should do themselves and will typically involve a blend of product, marketing and...
How to fight your natural instinct to copy othersThe allure of copying competitors The gravitational pull towards copying competitors is real. In crowded markets, the more competitors, the more certain we are that what our competitors are doing must be the right...
Content is perceived as something that can be slapped onto a design at the end of the product development process. But in the best companies, content is the design process, not an afterthought. A product that has invested in heavily integrating both design and content into the overall experience oozes quality. You can feel it.
Feature factories is the term people use when they’re working at a company who’s idea of product strategy is putting a spreadsheet together with a shopping list of items that need to be delivered with a few dates slapped next to them. But as real as these frustrations are, it’s also worth asking: what if features actually do matter?
In 2011 when I founded Likelii, we had a clear vision: To make it easier and fun for wine enthusiasts to find wines they were likely to like. But despite having a clear vision, I had caught what I now call the Iteration Epidemic where we try to copy the success of companies that found their success through iteration, trying one strategy after another to find the nirvana of product-market fit.
As we look to challenge ourselves to make the best decisions possible, we often judge our decision making skills on the outcomes we achieved. This isn’t quite right since the outcome itself will always be unpredictable; the results achieved are different to the decision making process which led to a decision being taken. This is known as ‘resulting’ – where you assess the quality of your decision by the outcome it achieved.
Practical ways to get the most out of workshops Creating (and sometimes attending) workshops can be both a fun and stressful experience. When a group of humans are put into a room full of post it notes with no structure for hours on end with no set agenda or purpose,...
How the customer lifecycle can help structure your product strategy The business of ecommerce With Amazon gobbling up almost 50% of ecommerce sales in the US, traditional high street retail in steady decline and paid online customer acquisition...
Agile and the fail fast culture prioritise failing as a means of learning as quickly as possible and moving onto the next experiment. It rewards failure – and actively encourages it as a mechanism to learn what works and what doesn’t. Not everyone is a fan.
A classical definition of strategy applied to product thinking The problem with strategy Ask someone what their strategy is and you’ll often get vague responses relating to operational effectiveness, items from their to do list or a proclamation that their company is...
Fighting the forces of product inertia Overcoming the fear of thinking differently Suggesting different ideas or challenging conventional wisdom requires a certain level of tenacity. It also requires you to bulldoze through the fears that often beset the management...
Bridging the gap between creative and commercial thinking Does generating revenue matter? A business is a repeatable process that makes money. Everything else is a hobby. —Paul Freet, Commercialisation Expert This is a neat way of summarising the definition of a...
Why changing button colors isn't enough Google Jedi Marissa Mayer allegedly tested multiple variations of the color blue until she found the perfect shade of blue to increase conversions at Google. This kind of experimentation may be reasonable when you have tens of...
Product Stacks Podcast by the Department of Product. A deep dive into the tools, frameworks and processes used by product managers from top companies.
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