As companies grow and expand their services, they need to localize their product. In some industries, where each region has very different needs and regulations, there is high interaction between the need for a global strategy, and the needs of each region to succeed.
Jesus Cagide, Product Leader at Intuit and ex-Paypal helps us explore how this can be handled in companies and industries where the local need has a critical role.
We talked about:
- The role of fintech and money in people’s life.
- What are highly localized products? The difference between the global mission and the needs of each region to achieve the product mission.
- The 3 attributes you need to consider in a geographical basis: bargain power of customers, tech access and channels, and regulations.
- How understanding opportunities at a local level affects the global strategy.
- Besides your global strategy, you need to understand your strategic intent in each geography (and how to evaluate it based on the local diagnosis).
- The importance of considering each geography the existing set of tools and to clearly communicate your value proposition according to each market.
- Making market assessments per country: the lifecycle of the product, competitive intensity, and reach or size. How the lifecycle of your product actually varies by country.
- Assessing your strengths in the country, from your brand power to your core capabilities.
- How Paypal manages top-down vs bottom-up initiative proposal and assessment.
- How adding services at a global level requires an impact analysis in a multi-year horizon (versus local initiatives related to the adoption of existing services in the portfolio).
- The complexity of the product structure when combining global and local roles.
- Jesus's last advice about strategy: “don’t bite more than you can chew”. How much time this global strategy exercise takes.
- Recommended book: Rise of the robots.
Among many other things!
You can connect with Jesus on Linkedin or follow him on twitter.
Remember that you can find more info and material on 100productstrategies.com.
If you are eager to know more about product strategy, check out Product Direction: How to build successful products at scale with Strategy, Roadmaps, and OKRs
You can also contact or follow your host, Nacho bassino, at nachobassino.com (training, coaching, and more)
