Product strategy
Your product is built, but how will you take it to market, and what’s your plan to gain customers?
Tell me more
So you’ve researched, built and tested your digital product and made something brilliant. Great! But what’s next? Well, there’s no point doing all that hard work and then just casually letting your app or platform float out into the market, is there?
The best rollouts and launches have a structured plan in place to steer the product towards the destination you want for it. For instance, are you optimising towards user growth or user engagement? If you’ve created a new software suite for internal use, maybe you’re interested in benchmarking it against the previous solution or tracking uptake across employee teams.
Product strategy goes beyond the immediate launch too. It encompasses your product roadmap (which new features are you prioritising and why) and feeds into decisions about pricing, marketing and the future direction of the platform.
How long will it take
Our strategy engagements are tailored to your digital product, so there is no one size fits all solution. However, as a rule of thumb, targeted engagements to troubleshoot specific areas such as pricing or subscription churn usually last around four to six weeks.
Larger product audits that require additional original research and market understanding can take significantly longer; up to three months is typical.
What is involved
The first step of any strategy development process is to gather data. To do this, we’ll carry out workshops, desk research and an analytics deep dive to harvest information from stakeholders, customers and the digital product itself.
The type of research methods employed will depend on the scope of the project and the particular questions you’re looking to answer, but a typical engagement is likely to include:
- Product audit – Assessment of your digital product by our UX designers and analysis of any analytics data generated by current users
- Pathfinder trials – Third-party user testing to generate fresh insight into how users complete given tasks within your platform
- Focus groups – Moderated group feedback sessions including users, non-users and product owners
- Market research – Assessment of the competitive landscape including pricing and feature opportunities and threats
Once gathered, the data will be input into our team of analysts who can then start shaping your bespoke digital strategy. The information will be interrogated to uncover the insight hidden within, and assessed against your strategic goals for the product and our experience as digital experts. We’ll assess what opportunities are present, and what threats the market poses to your product, allowing informed decisions to be made about its future direction.
What’s the outcome
At the end of the project, we’ll present a digital strategy report to you. Whether we’re assessing your pricing strategy, creating a feature roadmap or fleshing out a go-to-market plan, this document will provide a tailored strategic direction for your digital product, with multiple options, time frames and outcomes laid out.
We’ll also touch on how the recommendations within the report can be implemented, detailing any technical or skill gaps that may exist within your team. Lastly, the report will set out suggested measurement and analytics benchmarks that can be tracked to assess the success of the project and lay out a timeline for any post-implementation debrief or postmortem.