McKinsey on Building Products McKinsey on Building Products: 2024 highlights
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Dec 20, 2024 In 2024, key insights reveal the critical need for customer-centricity in product development. Identifying customer pain points and utilizing storytelling can enhance product engagement. The principles of product-led growth emphasize delivering immediate user value through collaboration across teams. The interplay between product management and business is crucial, especially in tech-driven industries. Lastly, the strategic use of AI in product management promises improved customer experiences and significant productivity gains.
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Customer Focus
- Obsess over customer problems, not solutions.
- Conduct open-ended customer interviews weekly to understand their pain points.
Product Value
- Successful products solve real pain points or enable new possibilities.
- Consider if your solution is differentiated and provides enduring value.
Product-Led Growth
- Product-led growth requires delivering immediate value to customers.
- Align your entire organization on common business objectives to drive growth.