What is the best way to prioritize product strategy with other business priorities?

Even before you think of product structure , you really need to understand for whom we are building it , and their lifestyle , age , language they speak and what absolute problem you are solving for them. And how the problem is solved as of today , if it through another product then it becomes every important to study your competitors. For competitors research , we have thence gone to their build by build journey of past to understand like who users have involved with feature and what has worked and what not .

First, research the context around your product - market trends, customer needs, competitive landscape. ???♂? Validate assumptions to focus on real problems and opportunities. ?? Align your vision with organizational goals and strategy. ?? Share your value proposition and differentiation clearly across stakeholders. ? Informed prioritization starts with thorough understanding of the full environment. ??

You should have a clear understanding of the current business strategy of the company and what it is currently focusing on: - Concentrate on selling existing products: explore ways to optimize marketing campaigns to generate a steady cash flow for the business. - Focus on revenue growth through new markets: Identify niche products to serve this strategic objective.

Product can’t have everything at once so taking one goal at time really help in focusing. Like for conjugation app , building the inbox , sent and draft is priority in MVP and filtering the spam can be next goal and having AI to draft the message can come on later stage but if you product’s core feature is help people write the email then building AI to draft the message to priority. So understanding the goal and aligning the right product strategy is very crucial .

Define prioritization criteria, both qualitative and quantitative. ?? Gather customer feedback on needs and preferences. ?? Estimate business impact and feasibility. ?? Assess strategic alignment and risks. ?? Establish a framework to score initiatives based on criteria. ?? Well-defined prioritization principles help focus efforts on what matters most. ??

If your stakeholders can be involved in understanding the requirements and the needs of your users. Things like taking part in the research, or interviewing users, and they can empathise with the problem, they will show a greater drive to tailor the strategy to match the needs of the users.

Stakeholders are the eyes and ears of product managers as their perspective gives the real view of the user sentiments which data might not give some time. Listen to their feedback and inputs to put in product priority will help you stay focused on solving core problems.

Involve cross-functional stakeholders in prioritization. ?? Get buy-in from engineering, sales, marketing on priorities. ?? Outline resource needs, timelines for execution together. ?? Keep teams updated on progress to maintain alignment. ?? Collaboration ensures priorities balance diverse needs and drive execution. ??

Based on my experience, it's advisable to involve the CEO and CFO: - Engaging with these two individuals will provide you with insights into their expectations regarding Product Development for this year. Clarifying this information will expedite the process of pivoting the Product Strategy.

Continually reevaluate priorities as business context evolves. ?? Monitor performance metrics and customer feedback. ?? Revisit roadmap to adapt to new market conditions. ?? Remain flexible - prioritization is continuous, not a one-time event. ? Your priorities should be dynamic to keep pace with change. ??

Building the right product and features is the focus but the end goal is to see the impact on users' lives. you should communicate your values and vision to people very early so they are able to relate to your products and vision. The impact can be tracked with metrics like growth, retention, and revenue.

Communicate the value of your product strategy to customers and stakeholders. ??? Craft compelling stories that showcase benefits and differentiation. ?? Demonstrate business impact on metrics like revenue and growth. ?? Persuasive messaging drives understanding, buy-in and advocacy. ??

As per our experience, product positioning early is an important part of product lifestyle. I have spent 3 years in online gaming(RMG) where in the early days large user segment perceived us as a way to earn money so they were focused on doing tasks, playing free games, referring, and earning, this segment wasn't bothered about game quality and all. On the other hand, the segment perceiving us as a gaming platform was playing games that they liked and were also complaining of bugs and other quality issues of the game. We choose to position ourselves as a multi-gaming platform with less focus as "earning platform". Choose your positioning to plan your product development strategy and the right metrics to track.