The hardest thing about building a product is deciding what to build.
Many SaaS founders are having trouble putting together a strategy for their product.
And being a tech founder you can be overwhelmed by product management concepts and ways of doing it?
You are not alone.
With these 11-Step SaaS Product Strategy Framework, we have tried to simplify the whole process so you can focus on what matters.
But if you're like me someone who has started many projects but only successfully completed a few, the process of building this kind of strategy can feel like pulling teeth (even if we know there are plenty more teeth left).
In this article we will explore 11 essential steps for building one:
Customer Discovery is the process of understanding your customers and finding out what they want from you.
You'll need to understand your customers’ needs, wants, pain points, and goals. You'll also want to find out how much they are willing to pay for those things. And you will want to know who their competitors are so that you can learn from them or beat them at their own game if possible.
You need to find out:
- What do your potential customers want? How will they use your product? What are their needs?
- How does your product compare to that of the competition? Is there a gap in the market that only you can fill with an innovative approach or feature set?
- How are you closing the feedback loop?
- Who is already buying similar products right now (and why)? How exactly do they use them - what features are used most frequently by these types of customers?
A product roadmap is a visual representation of your product strategy. It shows the key milestones, features, and projects that need to be completed in order for you to achieve your business goals.
If you’re not familiar with creating a product roadmap, we recommend using tools like Grabee (which is free) to create one easily.
The goal of a good product roadmap is to make sure that everyone on the team understands why each feature matters and what contributes to achieving your larger goals for your business.
Read detailed product strategy frameworks here: Simple 11-Step SaaS Product Strategy Framework