5 Product Management Best Practices You Need To Know
Undoubtedly, the year 2020 has been challenging for everyone, and the entire year has gone just by fixing things, moving to a new unthoughtful workplace (home), and so on. We hope this new year, 2021, could save us and focus on success and monitor the product growth while the bot fixes things! The product team should gear up with the new strategies, leaderships and building excellent product management best practices.
Here are the tips for you to lay the correct foundation and create your successful product strategy to help you out for the new flying start. Read on.
1. Travel With Your Product Vision
As you know, the product vision is the north star around which your company team arranges themselves in the right way. Just imagine the situation, how it would be? If you plan for a get-together without mentioning a destination? Your vision is the same; it’s the crucial information everyone needs to know. Only then they’ll head to the right destination. So,
- How recently you reviewed your product vision?
- Are you driving in the right direction?
It’s essential to review and travel with your product vision and ensure your team knows it well to plan for the best outcome by encouraging everyone around the long-term goal and staying on track without any mess.
2. Build Qualitative Objectives and Define Key Results
Suppose your vision shows the way for the destination, the objectives you built, and critical results, which is popularly known as OKRs. OKR will help you to define boundaries around and show the way to get there.
Your objectives should be qualitative covering,
- What are you going to improve covering all the aspects?
- How will you know you’ve made the right developments?
- What metrics should you have to show you’ve made a positive impact?
These are things to consider while writing your OKRs. Ensure they’re documented in a place where everyone can utilize them at any time.
3. Align your product strategy
Vision and objectives are essential stuff to ensure that everyone is arranged around the destination and direction. So, what’s next?
Here your strategy comes into the picture, which helps them identify the phases and steps to take and what should be added to your product roadmap.
The product roadmap will work as the bridge between you and the customers, which carries all your product plans for the present and future on a single page. I suggest you have a lean roadmap that means not pushing all your anecdotic stuff and having the essential features that you’re actively building and will build alone. This will help stakeholders and customers understand the problems you’re aiming to solve flexibly and allow innovation.
Your roadmap should always be active as a breathing document, not as the one which is updated once in a blue moon because this is the only way to promote transparency into the market issues you’re solving, permitting your teams to work on to find the right solutions.
Customers will prefer a problem-based roadmap. It assures them that they are being heard. Also, it promotes them to provide feedback on ways those problems can be solved without disturbing your strategy.
So, keep updating your current roadmap. And check up on
- Does it solve those high-priority problems?
- Do you have any solution on how you might solve them?
- Is it touching your objectives?
- Is it flexible enough to permit you to pivot as wanted?
- Is it simple for everyone to understand?
- Does it provide context around why you’ve concentrated on those problems?
If you can’t find answers to these questions, maybe it’s time to recreate your lean roadmap, which will be one of the product management best practices.
4. Get Content From Your Team
The opportunities are with a team of talented individuals who all have great feedback on how your product could be built better. It’s easy for your co-workers to become discouraged if they’re not being heard or negotiated from the production process. It’s also complicated for product managers to determine the correct solutions if they don’t calculate all the options. This is where getting content from your team about the product can help.
Providing your co-workers a place to share their suggestions to the product strategy, it’s going to be an excellent hat-trick. An organized idea backlog offers everyone the chance to share their thoughts in the ideation process. Product managers benefit from the guidance that their team can give and share the duty of deal for decision making with those around them.
Hellonext collaboration features help you exemplify product management best practices by allowing all internal and external stakeholders and customers to be involved. You are making it much smoother to backtrack and remind yourself how you concluded.
5. Be customer faced
Be very transparent to your customers as much as possible because they’re the one who utilizes your product none other can provide the right solution rather than them. Be conscious when they need your support and available irrespective of the time. This helps to make them comfortable with you and create a strong relationship with them.
Hey man! Don’t be automated! Respond to them how you’re naturally doing it, not with the same automated messages. The best way to do this is by collaborating with your customers yourself, but you can also take advantage of your co-workers' conversations with their contacts. By organizing feedback in one place, it’s simpler to spot themes and determine the kinds of problems that rear their heads regularly.
Hellonext customer feedback tool and integration facilities allow you to gather feedback from various places and help you understand the most valuable ideas. Not only that, you’re able to engage your customers by collaborating with them.