#155 - Build What Matters With Vision-Led Product Management - Ben Foster
Nov 20, 2023
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Ben Foster, co-founder of Prodify and co-author of “Build What Matters”, discusses vision-led product management and the importance of understanding customer problems. He explores common product dysfunctions and the three key aspects of vision-led product management: key customer outcomes, customer journey vision, and product strategy.
Being product-driven involves understanding key outcomes for both the business and customers.
Creating a customer journey vision ensures a seamless and delightful customer experience.
Having a clear and bold vision helps drive innovation and success while a well-defined strategy is necessary for execution.
Deep dives
Key Outcomes and Customer Value
Being a product-driven company means understanding the key outcomes for both the business and the customers. It involves focusing on the customer value dashboard rather than just internal metrics. By identifying the key metrics that define success for both the business and the customers, product teams can prioritize their efforts and create a strong foundation for growth.
Customer Journey Vision
Creating a customer journey vision involves understanding the different stages of the customer experience, such as trigger, discovery, trial, evaluation, engagement, and renewal. The vision should address each stage and highlight how the product provides a unique and valuable experience for the customer. By anticipating and designing for these stages, product teams can ensure a seamless and delightful customer journey.
Vision Timeframe
The vision for a product-driven company typically spans three to five years. This timeframe allows for strategic decision-making, investment in data acquisition, and creative problem-solving. It strikes a balance between providing enough guidance and flexibility while avoiding dramatic changes in the industry landscape. However, the ideal timeframe may vary depending on the industry and specific circumstances.
The Importance of Vision and Strategy
Having a clear and bold vision for a product is crucial in driving innovation and success. It is essential to communicate the vision early on and use different means of communication, such as topic strips or comics, to engage and inspire stakeholders. Additionally, developing a well-defined strategy is necessary to execute the vision effectively. The strategy outlines the general path to reach the desired future state and may involve acquiring a customer base, collecting data, applying machine learning, and forming partnerships to disrupt the industry.
The Role of Roadmaps and Cadence
Roadmaps play a vital role in coordinating efforts and aligning cross-functional teams. A roadmap should be a communication tool that helps everyone understand the direction and coordinate actions effectively. It is important to allocate resources across three categories: innovation, iteration, and operation. The percentage allocation may vary depending on the company's stage and market dynamics. The roadmap should be updated regularly, typically on an annual or semi-annual basis, to ensure visibility and adaptability. A well-crafted roadmap avoids over-analysis and focuses on prioritizing initiatives that deliver business value and align with the company's strategy.
“Product driven means you understand what your customers’ problems are, but you don’t let yourself get held back by what your customers are saying. You’re not building your product for a customer that you’re already working with. You’re building a product for a customer that you haven’t yet met."
Ben Foster is the co-founder of Prodify and the co-author of “Build What Matters”. In this episode, we discussed how product driven and vision-led product management helps organizations deliver key customer outcomes and achieve business goals. Ben first began by describing the product management paradox and some of the common product management dysfunctions. Ben then dived deep into the three important aspects of a vision-led product management, which are key customer outcomes, customer journey vision, and product strategy.
Listen out for:
Career Journey - [00:03:31]
Product Management Paradox - [00:05:59]
The Role of Product Manager - [00:08:10]
Product Dysfunctions - [00:09:50]
Product Driven - [00:14:25]
Vision-Led Product Management - [00:18:40]
Key Outcomes - [00:22:52]
Key Outcomes Pyramid - [00:28:52]
Customer Journey Vision - [00:33:12]
Customer Experience Stages - [00:35:36]
Product Vision - [00:40:04]
Product Strategy - [00:43:43]
Product Roadmap - [00:47:49]
Product Roadmap Duration - [00:55:50]
3 Tech Lead Wisdom - [00:58:51]
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Ben Foster’s Bio Ben Foster has been working in product management in the tech scene for 25 years, and is co-founder and partner at Prodify, a product consulting and coaching firm he started 9 years ago. He cut his teeth at eBay during its heyday and was most recently the chief product officer at the wearable company Whoop. He has experience from startups to multi-billion dollar companies and everything in between. He’s spoken at several major tech events, has produced the definitive course on product leadership, and co-authored the Amazon bestseller Build What Matters. He lives in Arlington, VA with his wife and son.
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