Thinking of your products and propositions (products + customer experience) as a portfolio will let you leverage your brand effectively and maximise the potential of your technology.
Think strategically about how to reach more customers, while developing a deeper understanding of your customers, and then develop that relationship, so you can continue to innovate and extract long-term value.
Invest in existing products to maximise the potential for growth and new revenues, but also have a continuous pipeline of new ideas and new products that can capture value from fundamental shifts in markets.
At Glomodus we are advocates of applying good product management practices to shape your portfolio. Whether as a founder, creating an innovation team, or growth team, or wanting to create an enterprise that is robust and can scale, using product management as a method for shaping roadmaps and converting that into prioritised and discrete actions (eg. creating new features) that will allow you to iterate and develop value quickly.
These are some of the key activities to work out and deliver the best products for your customers:
- Strategy: Vision, Goals, Team
- Research: Market, Customer, Competitors and Performance
- Design: Segmentation, Innovate, Propositions, Positioning
- Decide: Value, Complexity, Pricing, Business case, Priority
- Create: Component Design, Build, Test, Release
- Go-to-market: Operational Readiness, Change, Training, Onboarding
- Services: Promote, Sell, Cross/Up-sell, and Customer support
The challenge is how to work on all of this with limited resources and time constraints. Where do you put your efforts to create the best products? How do you ensure product-market fit success and become a winner?
Our years of experience have helped us develop some expertise in this area, so perhaps we can help you ramp up best practices and keep the innovation benefits flowing to your customers.
Innovation & Sustainable
We must be proactive design and creating products that have a meaningful impact on our quality of life, and values and sustain ESG benefits. Innovation is a key element of what we look for and foster, knowing full well some ideas can take years to fully develop into consumer products and sustainable business models. Our approach is to accelerate where it makes sense, and invest in deeper innovation for the long term.
Products vs Services
Always have a customer-centric mindset, thinking through every aspect of your customer and employee experience, before, during, and after the purchase and consumption of your products. This means allowing individuals and businesses to consume your products as they want, which often means providing the products as a service, and often with personalised.
Services are a critical component of creating a more complete customer experience and should benefit your ability to achieve and sustain market share. Build it into every customer journey and use technology to unlock new ways to scale this.