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Product Strategy Template
by Christian Strunk
Product Management & Leadership Coach
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Intro:
The whole slide deck isn’t branded. Therefore you can copy paste the parts you like out of it. Depending on your needs you can resort the agenda and add or remove points.
Most agenda point consists of:
Important:
IMO design and aesthetics are very important. Make sure the spaces, font sizes, colors and more are totally uniform throughout your entire product strategy. I always give my slides the same amount of love a product designer or front-end developer would give to their interfaces.
- Christian
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Agenda:
Note: Please keep in mind that a product strategy should be
rather a clean “pitch deck” instead of a detailed “backlog.”
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#1 Product Vision
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Examples:
- Sustainable energy company
- Educational social network
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Templates:
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Explanation & Tips:
The product vision statement can be phrased in many different ways. It’s most important to keep it as clear, short, and memorable as possible. You can google for more examples but keep in mind that most of the search results are company visions and not product visions.
If you’d like to learn more about the product vision creation process you can read more here: Product Vision
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#2 Business Goals
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Examples:
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Templates:
Activity examples:
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Explanation & Tips:
The goal of the examples is to provide some inspiration and ways to define business goals. Usually, they aren’t only defined by a Product Manager. Make sure you align/get to those business goals with the C-level, founders, and leadership team.
It’s always good to define the activities and goals more high level (what & why) that the team can think about how to achieve those.
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#3 Market & Needs
(Market Analysis)
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Example/Template:
Payment behavior evolution
Here you can visualize how e.g. customer behavior has changed in certain steps �(historic background).
Below you can list:
evolutionary step
�FYI: The “onion” should be self-explanatory.
The information on the left-hand side�underline the message.
Cash
Payment
Card Payment
P2P
(paypal)
Crypto
Payment
Next
Innovation
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Example/Template:
PEST Analysis:
Political
Economic
Social
Technology
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Example/Template:
Top down analysis for people in New York consuming bread (market size).
-> FYI: Numbers aren’t 100% accurate. This is just for visualization
~ 8.4 million people living in New York
~ 1.6 million people living in Manhattan
~ Goals is to cover 5% of the market with 20 stores
= 80,000 customers a day
= 4,000 customers per store
People buy twice a week bread. (4,000*2/7 days)
= Customers 1,142 per day
Top down analysis
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Example/Template:
Bottom up analysis to sell a specific bread in Berlin by supplying other bakeries with that particular bread (potential sales).
-> FYI: Numbers aren’t 100% accurate. This is just for visualization
1,500 bakery stores are in Berlin
About 5% would buy and resell our bread -> rather go with 2,5%
~ 37 stores
Every bakery store has about 15 sorts of bread and sells about 200 breads a day. = 13 sales per sort of bread
37 stores * 10 sales of our bread
= 481 sales per day
Bottom up analysis
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Example/Template:
SWOT Analysis:
Strengths
Weaknesses
Opportunities
Threats
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Example/Template:
Market positioning
UPMARKET
MIDMARKET
LONGTAIL
Number of e.g. customers
Where do you want to be?
Why do you want to be here?
Why don’t you want to be here?
🎯
Volume of e.g. revenue
🎯 This example is applicable for e.g. premium/enterprise businesses.
🤔
🚫
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Example/Template:
Competition feature matrix
Feature/ Company | Your Company | Company 1 | Company 2 | Company 3 |
Feature A | ✅ | ❌ | ✅ | ❌ |
Feature B | ✅ | ✅ | ❌ | ✅ |
Feature C | ❌ | ❌ | ✅ | ❌ |
Feature D | ✅ | ✅ | ❌ | ✅ |
Feature E | ✅ | ❌ | ✅ | ✅ |
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Explanation & Tips:
Market research is a big topic and takes a lot of time and efforts. I presented some examples of results/outcomes of that work.
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Explanation & Tips:
Useful links:
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#4 Persona(s)
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Example:
Persona (social network):
Name: Karen Hess
Age: 29
Education: MBA
Job: VP Marketing
Location: US, New York
Technology:
Snapchat
Personality:
Extrovert vs. Introvert
Sensing vs. Intuition
Thinking vs. Feeling
Judging vs. Perceiving
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Example:
Bio:
Karen is a passionate marketing leader & digital native living in NY. She spends over 3,5 hours a day on social media to communicate and exchanges mainly with friends. She loves baking cupcakes and sharing short videos and pictures with her friends. On top of that she loves knowing what her friends are doing.
Needs:
Frustrations:
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Template:
Personality:
Extrovert vs. Introvert
Sensing vs. Intuition
Thinking vs. Feeling
Judging vs. Perceiving
Technology:
Social Networks
Shopping behavior (online vs. offline)
Mobile vs. desktop usage
Games & messaging
etc.
Bio:
Written text about the person in third person or in first person.
Depending on how personal it should be.
Needs/Goals:
Bullet points on things the persona needs on daily basis, to solve a problem, looking for to live a better/easier life.
Frustrations:
Bullet points on things that are frustrating her related to the product/service/solution you’re offering.
Persona:
Name: [First, last name]
Age: [Number]
Education: [Highest degree]
Job: [Job title]
Location: [Country, city]
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Explanation & Tips:
Not every company can afford a full-fledged market research. Nevertheless, you should be able to get a deeper understanding of your customers and their behaviors, needs, and pain points. In case you don’t know how and where to start I recommend having a look at your internal customer database. Alternatively, the customer support/success teams has many insights too!
Useful links:
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#5 Development Team(s)
(optional)
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Example & Template:
Team Name: #Mobile-Team (eCom)
Vision: Build the best mobile shopping experience
Mission: Empower [Persona’s] to buy products quick & easy
Purpose: Make mobile shopping easier
Focus areas: Checkout & Signup
Daniel Feyer
Junior Frontend Developer
Lukas Schliep
Senior iOS Developer
Fernando Pho
Backend Developer
Szymon Luttik
Senior Android Developer
Liam Hougton
Senior Product Designer
Christian Strunk
Product Manager
Open positions for the team:
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Explanation & Tips:
Depending on your company/team size you can list the team members. Beside the team members, I’d always list the vision, mission, purpose, or at least the main focus area of the team. Not every stakeholder knows who is doing what.
In case your a fast/hyper growing company it’s helpful to share your team growth plans and a skill map. Stakeholders love seeing that you exactly know how to grow and achieve your goals.
Useful links:
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#6 Product Features
& Priorities
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Examples/Templates:
Mobile first approach:
Out of the box philosophy:
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Examples/Templates:
Self-service approach:
Trustworthiness:
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Examples/Templates:
Product Goals:
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Explanation & Tips:
I picked up a couple of key features/priorities that can be defined for a product. Please keep in mind that this looks different from use case to use case. You can also highlight a clear feature that needs to be build. Don’t forget to explain why it needs to be build and eventually what makes it so valuable/important.
Useful links:
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#7 The Roadmap
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Examples & Templates:
High-level roadmap
Today
End of 2022
Current Product
Future Product
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Examples & Templates:
Services & features to build
Backend-Service 1
Current
(status quo)
Mid Term
(end of 2020 & 2021)
Long Term
(2022-2023)
Design System
3rd Party integration
Enhancing feature
Launching new ...
Mobile “innovation”
Backend Service 2
Platform approach
Sub-
Functionality 1
Sub-
Functionality 2
Feature Name
Speeding up loading times
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Examples & Templates:
Timeline redesign (fintech)
Sales Tab
New Login
Home Screen
Setting Page Rework
New Keyboard
Q2
Q3
Q4
TX History & Sales Filter
Design & Planning
Implementation
New Sign Up
New Sales Tab
New transaction history
Filter Functionality
New Login
New Setting Page
TESTING
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Examples & Templates:
App launch (gaming)
March
June
July 1st - July 15th
Features
Buffer
Alpha Phase
Beta Phase
Launch Phase
Signup/Login
Character Selection
Level 1-10 (20)
Jan - Feb
Signup/Login
Character Selection
Level 1-10 (20)
April - May
Tutorial Videos
Press Release
Support FAQ
Release Notes
App Store Upload
Bug Fixing
Improvements
Bug Fixing
Improvements
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Explanation & Tips:
There are many ways on how to visualize a roadmap. You can use Gantt Charts, migration plans, you can do it on a monthly basis, quarterly, etc…
Most important is to visualize in the way you, your team, and your stakeholders get most out of it. Coming up with a fancy roadmap that’s hard to read/understand won’t help anyone.
Useful links:
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#8 Numbers &
Additional Data
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Examples & Templates:
Key KPIs/Metrics (eCommerce):
Note: KPIs can be defined for a product or each individual feature
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Examples & Templates:
P&L forecast I/II:
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Examples & Templates:
P&L forecast II/II:
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Examples & Templates:
�Sales/Conversion Funnel:
Stage 1 Awareness
Stage 2: Interest
Stage 3: Evaluation
Stage 4: Engagement
Stage 5: Purchase
100%
60%
20%
10%
2.5%
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Explanation & Tips:
The world of data is endless. You can add many financial calculations such as:
Most important is (again) to present what’s needed and helpful for your product & business.
Useful links:
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Final Notes:
Bear in mind the product strategy is a living document. It needs regularly to be adjusted, especially in these fast-changing times.
The whole slide deck is one way to visualize a strategy. Obviously, there are many more ways in more or less depth.
If you’d like to dig deeper feel free to have a look at the reads or reach out to me directly:
Mail: christian@christianstrunk.com
Linkedin: @christianstrunk
Website: www.christianstrunk.com
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End of the presentation
(there’s one more slide)