What are the key factors to consider when developing a product vision that addresses customer pain points?

(!) Just like you wouldn't buy a gift for someone without knowing their likes and dislikes, don't design a product without truly understanding your customers. Dive deep into their world; sometimes the most valuable insights come from the details they don't openly share.

A good product addresses the framework of “Jobs to be done”. If you define the problem well, you have crossed half the path. Creating a faster horse was not the problem when they invented automobile. So when you need to design a product , articulate your problem as “ I want to “, Help me” or “ Help me avoid”.. Development of the product will follow and see the magic.

Understanding customers before new product development is often undervalued. Key considerations include: 1.Segment-Specific Tailoring: Rationale: Diverse customer segments have unique preferences. Impact: Customizing based on segment insights enhances market relevance, boosting adoption. 2. Personas for Precision: Rationale: Recognizing individual characteristics is crucial. Impact: Buyer personas guide features, fostering a personal customer experience. Revenue Alignment: 3. Rationale: In-depth customer knowledge aids pricing and positioning. Impact: Alignment with expectations maximizes perceived value, influencing revenue. In essence, understanding customer dimensions empowers precise development, directly linking to increased revenues.

Want to know your customer? Always start with Customer Development. Why is this method so crucial? For starters, it minimizes risk. Investing time, money, and resources into a product based on unverified assumptions is a gamble. Begin with Customer Discovery: 1) Segment your market: Before reaching out, define and segment your potential market. 2) Draft hypotheses: Identify your assumptions about your customers, their pain points, and how your product/service can solve their problems. 3) Conduct interviews: Speak with potential customers. Use open-ended questions to gather qualitative data.

In my experience we sometimes need to look at the customer journey or value chain. The best tasting apple that the customer loves, may not even make it to market if the farmer finds it low yielding, the transport company damages on the way to the store, the shop keeper doesn’t like because it doesn’t keep well on display etc. This is a simplistic example, however most products are handled by multiple entities on their way to the customer.

(!) When crafting your value proposition, focus on outcomes, not features. Features tell, but benefits sell. Dive deep into how your product will make your customer's life better, easier, or more fulfilling. Will it save them time? Reduce their stress? Enhance their enjoyment? Position your product in the context of their lived experiences, and you'll have a winning value proposition

Your organisation’s vision, value system and top management’s view on the path that company should take in future in terms of technology, market segment and geography also drives product vision

Value proposition is the key to unlocking success. Connect with your customer, the market and the competition. Be succinct and simple in your value proposition. Too many jargons or buzz words can be confusing.

First of all, you need to focus on outcomes rather than features and benefits. Secondly, you need to understand that your product is a means - not the goal itself. Customers doesn’t need a drilling machine, they need a 1/4 inch hole. Deployment and/or HOW your product will solve that is indeed essentials. Finally, I think purpose is a much stronger and timeless story teller than vision/mission.

Biggest mistake marketers / entrepreneurs make is assuming that your customers care about your product as much as they do. If your value proposition or perceived value proposition are confusing, it is game over they already moved on. ?? The 10-Second Rule 10 seconds. That’s about how long you have in order to communicate your value proposition to keep customer attention, according to a report by Neilson Norman Group. To make sure you clearly communicate the value proposition on your website, make sure it shows: 1/ Who you are - who your company is? 2/ What you do - Identify the primary problem you solve. what keeps your prospects up at night? 3/ Who you serve: who is your Ideal Customer

Assess your 'competitive alternatives' rather than just 'competitors.' A common mistake product marketers make is narrowly defining 'competitor' as another product in your market. Instead, focus on what customers see as alternatives to your product, even if the alternative isn't what you'd consider a service or product in your market. Remember, even Salesforce needs to consider a shared Google Doc as a competitive alternative. Take April Dunford's advice: "Ask yourself, “What would a customer do if your offering didn't exist?” Sometimes the answer to that question is “Do nothing.” What that really means is the customer would stick with their current way of solving the problem."

(!) Your competitive advantage isn't just what you do better; it's what you do differently. Differentiation is key. Instead of trying to outdo competitors on every front, hone in on what truly sets you apart and double down on it. That unique value, whether it's exceptional customer service, an innovative feature, or a compelling brand story, will be your guiding star in all product decisions and marketing efforts.

Real pain is often shared pain across your client and prospect base. The best products or enhancements are a result of listening. When we hear the same issue/pain articulated by client experts across the base, it is most often a real issue that needs real product response. From there it is digging into the specifics and designing the solution that addresses the global need, it's not just designing something we think will sell.

There's two ways to look at your competitors: 1) The problems they solve 2) The solutions an audience sees While your product might solve a very different problem than your competitor, your audience might not always see it that way. Hone in on the solutions you provide. Many times this involves educating an audience on pain points they might not yet notice.

Evaluating your competitive advantage involves understanding the factors or characteristics that make your product stand out from competitors. Identify a unique strength where you lead in a specific segment, or explore an underserved segment to become a leader. For example: LinkedIn's competitive advantage lies in being the premier professional networking platform, boasting a vast user base and robust features for career development.

?? Approach your product vision as the mirror image of your target customer's situation. It should reflect their struggles and desired outcomes. Not features that you want to build. I recommend structuring your entire product roadmap this way. So instead of expression your product vision as: ? "We're going to build and launch X module this year"... Express it as: ? "We're going to solve for this customer situation and struggle this year".

Two key points should be considered here. First, you should have clarity on the 'reason(s) to believe,' that clearly deliver on your overall brand promise. Second, every new product or even feature should deliver undoubtedly on those reasons to believe.

(!) Schedule quarterly alignment sessions with key stakeholders to revisit the strategic direction. In these sessions, overlay your product roadmap onto the company's strategic goals. This will spotlight any potential deviations early on, allowing for timely adjustments.

To help with aligning vision and strategic direction, I find it useful to think holistically and sequentially about the following basic elements to ensure Mission-Values-Vision fit: 1. Mission: Why we exist. LinkedIn example: "To connect the world's professionals to make them more productive and successful." 2. Values: What we believe in and how we will behave. LinkedIn example: -"We put members first. -We trust and care about each other. -We are open, honest and constructive. -We act as One LinkedIn. -We embody diversity, inclusion and belonging. -We dream big, get things done and know how to have fun." 3. Vision: What we want to be. LinkedIn example: “To create economic opportunity for every member of the global workforce.”

Define the Problem: Clearly define the pain points you aim to solve. Develop a problem statement that succinctly describes the issue from the customer's perspective.

(!) Just as a product evolves, so can its vision. Engage in regular feedback loops with both your team and customers. Quarterly "Vision Check-ins" can be invaluable. During these sessions, discuss how well the current vision aligns with actual user feedback and market shifts. Be ready to adapt, but also be the anchor that ensures the core essence remains intact

User Personas: Create detailed user personas that represent your target customers. This helps you keep the user's needs and pain points at the forefront of your product development.

The best product is nothing if not properly communicated internally and externally. Internal training to Sales and customer-facing functions is key for success. Important to secure enough time for this and prepare the launch well ahead!

The biggest tip here is: folks NEED to know the North Star. Yes, things will change and you'll need to iterate but without a clear vision it will be pivot after pivot after pivot and teams/customers/prospects not knowing which way is up (up = success). As Chris Handy once said, "Innovative product marketing is about putting words into your potential customers mouths. When you discover this, a whole new world of opportunity opens up. Train prospects and customers to yearn for the outcome you deliver, and make sure your product just happens to solve for that outcome."

Reiterate your vision as often as your can with the internal and external audiences. And realize that sales may like to focus on flashy features that are always one quarter down the road but it's equally critical for them to sell "whats on the truck today". In other words, "make them come" for the product vision but "make them stay" to identify what they need today

Product Market Fit is never completed, it evolves with market dynamics, competitive challenges, changing customer needs, and new features and benefits that your company can develop to address unmet needs. This is why product marketers should always dedicate a meaningful amount of time communicating and interfacing directly with their customers.

The best way to validate your product vision is to go to the SOURCE and engage your audience. Encourage two-way communication and actively listen to questions, feedback, and concerns from your team and stakeholders. By drawing feedback from many different sources it will help you get the best results

Few years back, we worked with a B2B SaaS client in banking. The ask? A 'wow' redesign with added features. ?? Validate-and-Iterate: Initial plans focused on adding features. However, user research and design workshops revealed the true need: customizable widgets. We pivoted, using more user tests to validate this shift. ?? Outcome: The pivot led to a product design in sync with real user needs, amplifying both relevance and impact. ?? Takeaway: Listen, adapt, validate. This cycle refined our approach and ensured the product vision remained precisely tuned to what users actually wanted.

Solution Evaluation: Assess the feasibility, viability, and desirability of each solution. Evaluate the technical, financial, and customer-oriented aspects of potential solutions.

Continuously validate your vision with target users via feedback and data. ? Refine based on learnings to ensure ongoing alignment with evolving needs. ?? A static vision grows stale. Agile iteration and improvement keeps it fresh and focused on solving real problems for real people. ?? The most powerful visions stay meaningful over time through relentless testing and refinement. ??

Two more things to consider if you are working for a specific customer and not developing a product for the sake of doing it. SALES Project requirements are as important as exclusions: this aligns both parties expectations, so it's easier to define timing, budget and changes requests management. TECH Invest in a capable project architect capable to drive the whole team to push the boundaries, choosing the best technological stack according to the desired outcome.

One often overlooked source of insights is genuine human connections. Sometimes, the most valuable feedback doesn't come from structured surveys but from casual conversations or heartfelt interactions with loyal customers. Keep your ears open and value the stories and emotions of those you serve. These intangible interactions can offer the most profound insights.

I’d like to add that know your competitors as well, the market is dynamic, make sure that the new product you invest would be forward-looking and not burn a hole in your pocket.