The Importance Of Vision In Network Marketing Success – The purpose of the product vision is to provide a clear and compelling picture of the future state of the product, including its purpose, value proposition, and long-term goals, which guides the team's efforts and decision-making.
In this post, we'll explore how your team can work together to create a clear and concise product vision. Next, we'll review some examples of effective product vision statements and a template you can use to create your own.
The Importance Of Vision In Network Marketing Success
Product vision statements define why a product exists, what problems it solves, who it serves, and how it is different. The product vision serves as a framework for product teams to understand what they are working on and why it matters.
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Make your product vision your north star and guide your product team as they ideate, prioritize, design, develop, test and iterate. It's the overarching, forward-looking mission that everyone—product owners, product managers, designers, engineers, and beyond—does together.
[product] for [target customer] that is [opportunity statement or need]. [Product name] is a [product category] that is [key benefits, reason to buy]. Unlike [primary competitive alternative], our product [primary differentiation statement].
Your vision also serves as the cornerstone of your product strategy. But while your product strategy should be flexible and adapt to the market and your customers' needs, your product vision will remain relatively constant to keep your team moving in the right direction.
A purposeful and aligned product vision statement helps ensure that the product team is working toward a meaningful and worthwhile goal, that the product is well integrated with the company's overall strategy, and that the product is positioned for long-term success.
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It guides your team into the future and paints a picture of what your product aims to achieve. It should express the mission of the product and how to change the lives of its users. When the vision is aspirational, it energizes the team to push beyond their comfort zone and pursue bold ideas.
Making the product vision statement achievable is critical to ensuring the team stays motivated and focused, building credibility with stakeholders, and ensuring the long-term sustainability of the product.
While it is important to have a bold and ambitious vision, it is equally important to ensure that the vision is realistic and achievable, given the resources and constraints of the team and the market.
A customer-focused product vision statement helps ensure that the product team is always thinking about the customer first, that decision-making is guided by a clear understanding of the customer's needs and wants, and that the product is positioned for market success.
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Pro Tip: Try mapping the customer journey to understand the needs, motivations, emotions and actions a user might experience while learning and interacting with your product. brief
Writing a concise product vision makes it easier to remember and communicate, helps focus the product team's efforts, and avoids any confusion or misinterpretation.
Creating your vision is the first step, but documenting it and weaving it into the fabric of your product team is critical to making it happen. Write it down, share it and be sure
Finalizing a complete product vision can be difficult, especially when you're starting from scratch. As the product owner, you also own the product vision, but that doesn't mean you have to define it alone. The best visions are developed in collaboration with product stakeholders and pressure tested by the leadership team.
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Before you can build your vision, make sure you have the right data and resources. Typically, this means putting together a company vision statement, defining the product's purpose, and completing an empathy map to deeply understand customers. Let's take a closer look at how these components—in particular, your product objective and empathy map—feed into your product vision.
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Creating your product story starts with understanding your product's purpose. This ultimately boils down to three questions.
It sounds easy enough, but it's really a special exercise. You can probably list dozens of reasons why your product exists, and you can describe it in many different ways. But for the purpose of this exercise, make sure you work with your product stakeholders to boil it down to its core, to what really matters.
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Below is a simple framework that can help your team. We recommend spending about 15 minutes on your product purpose workshop with your team. It can be tempting to spend days on different iterations, but try to set yourself up to work quickly and efficiently.
Identify what differentiates the product from others in the market and how it creates a competitive advantage.
Determine who the product is designed for and what their needs and pain points are. This can help inform how the product provides value to users.
Understand what other products are currently on the market and identify their strengths and weaknesses. This can help identify gaps in the market that the product can fill or opportunities to differentiate the product from its competitors.
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Identifying the specific features and benefits of the product that create value for its users and how these features and benefits compare to other products on the market. This can help express the unique value of the product.
Consider how your product design and user experience differentiates it from its competitors and how it creates a positive and memorable experience for your users.
Confirming that the product vision aligns with the company's broader vision and strategy is critical to ensuring the long-term success and sustainability of the product.
Examine the company's strategic plan and goals and identify how the product vision can contribute to these goals. This can help ensure that the product supports the company's long-term growth and success.
How To Create A Meaningful Product Vision
Engage with other company teams such as marketing, sales, and engineering to ensure the product vision is aligned with their needs and priorities. This can help ensure that the product is well integrated with the company's broader operations and goals.
Then, complete an empathy map to develop a deep, shared understanding of your users. If it's been a while, do it again! Before you can write a successful product vision, everyone must have a clear understanding of their needs, pain points, and motivations.
First of all, you need to have a clear vision of your target persona. Who are you creating this product for? From there, your team can spend 30 minutes completing an empathy map that organizes and refines your collective knowledge of your personality. This empathy map template can guide you through the process. The completed empathy map serves as an invaluable tool when you actually sit down to create your product vision.
With these resources in hand, your team can define your product vision. You can use this simple and concise format to tell a compelling product story that will resonate with your audience.
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Regularly review the product vision and make adjustments as needed based on new insights, feedback, and changing market conditions. Here are some specific actions that can help ensure that the product vision is iterative and refined over time:
Repeatedly refining the product vision over time can help ensure that the product is well-aligned with changing market conditions, evolving customer needs, and emerging technologies.
There is no one-size-fits-all template for a product vision, but there are tried-and-true patterns that you can use as a jumping off point. This is a classic, filler template that you can use to guide your thinking.
Adapted from Crossing the Chasm by Geoffrey Moore, this template was originally intended for creating product positioning statements. While positioning refers to the space your product occupies in the market, your product vision should be more aspirational and ambitious.
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🚀 Pro tip: Get this template, along with the other building blocks of an agile product strategy, in Effective Team Management's Agile Product Roadmap Template.
Product vision statements allow a given team to communicate more effectively, such as explaining, in a short and concise way, what your product is and what you intend to do with it. Effective team management demonstrates a level of mutual understanding and clarity about a given product vision. If there is good team management, your product vision statement will be more effective because of product vision patterns, which focus on preparing and organizing your product.
Product vision statements prepare your team to articulate the goals behind your product, and better presenting your product ensures that your goals are clear and planned in advance to avoid roadblocks.
Additionally, your product presentation is clearer and more concise due to planning ahead and creating a product vision statement, resulting in the ability to communicate your product as
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