Getting to market quickly won't be helpful if you don't have a solid product vision. See how to define the one that inspires and promotes action.
During any development process, the entire team is encouraged to “get to market quickly” and “get work done quickly,” but no one really has a general idea of the product vision. This is a typical problem that occurs during the Scrum process, where the rush to finish the product overwhelms understanding the product's objectives.
The product vision, however, is fundamental to producing a successful end result, so teams should not forget this step.
The product vision not only organizes the direction of the project, but also helps define team roles, guiding each member on the path to a great final product. All team members should be part of the product vision process – from marketers to sales to developers – each person should have a say. Furthermore, it is vital that once the vision is complete, each team member knows it and understands not to deviate from it.
If your team is ready to create a product vision, follow these 5 steps.
1. Define the purpose of the product
Why should this product exist? What is the motivation behind its development? Just because you think it's a good idea doesn't necessarily mean it should be done. Defining why this product is needed will help shape the development process as well as shape management, sales and marketing strategies.
2. Define the target audience and user
Whose life will improve because of this product? What need does the product meet in this person’s life? It's important to take a look at the target market and identify exactly what needs or pain points are being addressed by the product. This will help create a list of requirements that the product must have to meet these needs.
3. Research the competition
The product vision is probably starting to emerge, but it's crucial to look at the competition and understand why your product vision is different. What needs does it meet that competitors don’t? What is unique? Answering these questions can help shape the vision and move away from existing products.
4. Create an inspiring message and vision
When the customer reads the product vision, ideally they will be motivated to buy your product or service. Here are some examples of product visions that do just that:
- American Express: “We work hard every day to make American Express the most respected service brand in the world.”
- Honest Tea: “to create and promote delicious, healthy organic drinks”.
- IKEA: “To create a better everyday life for many people.”
5. Keep it brief
It will probably be difficult to eliminate all the words you want to use in your product vision, but something short and sweet usually resonates with customers better. Additionally, people are more likely to remember something that is a sentence or less rather than a long-winded paragraph. Your team will likely end up with different varieties of product vision statements, so try combining them and eliminating elements or asking outsiders what resonates best with them.
If you're really struggling to come up with a product vision, try using this template to start brainstorming:
- For (target customer)
- Who (statement of need or opportunity)
- The (Product Name) is a (Product Category)
- That (key benefit, a reason to buy)
- Different (primary competitive advantage)
- Our Product (Primary Differentiation Statement)
Next steps for your product vision
Once your product vision is complete, be sure to let it guide your decision-making. Any change requests, pivots, or changes must first be reviewed by vision to ensure they do not deviate from why you are making this product. If the change brings the product even closer to the product vision, you should move on; however, if the change moves the product away from the vision, don't do it.
A product vision helps customers build loyalty to a brand because it exemplifies the company's values. A vision can spark a connection between the company and the customer, which is why it is an important step in any product creation process.
