Longer‐term objective of this product, normally 2–10 years out. It is how we as a product organization intend to deliver on the company's mission.
It may feel like you have a million inputs to your roadmap as a product owner. The best PLG companies root their decision making in a thorough understanding of how customers interact with the product. It can be challenging to separate the signal (example: what are people actually doing) from the noise (example: what your sales team says prospects want to do), but that radical focus is required to get your product to the next level of growth.
Your roadmap should not be created in a vacuum, nor should it be driven by the priorities of others. Instead, work to open a dialogue between the customer-facing roles in the organization and those responsible for developing products. Making user insights a core part of your product roadmap can help you deliver superior products to market faster and leave your competitors in the dust.
If you're not tracking user activation metrics, don't worry. This is still a very advanced practice in Visma and the industry. According to a recent survey, only 44% of companies do this well. A proven way to measure user value and using it to feed into the product strategy is the North Star framework, which you can learn more about in our Index offering.
It is important that all every team know what they contribute to.
To work successfully with product analytics, product teams need to have a solid tooling setup. It is still a new field, and tools pop-up every day, it is important to take time and find tool set up that will work for you.
A tool without a purpose is useless.
To enable rapid innovation and deployment, companies must develop a product strategy that involves effective A/B testing and experimentation.
If the turnaround time from “hypothesis to change” is too long, organizations risk losing both customers and revenue.
39% of digital businesses say they struggle to optimize their offerings because they are unable to analyze the full customer experience (e.g., across devices, across products).
The disruptors of today gather analytics on customer behavior one day and ship changes to capitalize on those insights the next. They focus on a new definition of “done” that has nothing to do with coding output and everything to do with making a significant impact for the customer. In outcome-driven development, “done” means delivering measurable value, not simply completing user stories.
Event tracking is an important part of user research to collect data on specific user actions. To develop an effective event tracking strategy, you need to identify the events to track, determine the metrics to measure, choose the right tools, set up tracking code, test it, and analyze and interpret the data to inform product improvements.