10 PRODUCT STRATEGY MISTAKES TO AVOID
No Strategy
A major mistake is having no product strategy at all. Without a strategy, products move forward based solely on the loudest requests from users and stakeholders, making it impossible to objectively assess request impacts. This can lead to a “Frankenstein product” that offers a poor user experience and lacks real value.
Wrong Level
Another common error is focusing the product strategy on the portfolio or feature level instead of the product itself. A strategy that’s too broad or too narrow can be ineffective. For example, while having a strategy for a tool suite like Microsoft Office is beneficial, individual tools within the suite, such as PowerPoint, should have their own strategies.
Incomplete
An effective product strategy should clearly outline the path to success, solving a problem or creating a benefit for users while generating business value. To avoid an incomplete strategy, answer these questions: Who are the target users? What is its value proposition? What benefits does it provide the company? What are its standout features?
Unspecific
Vague product strategies are another pitfall. They might state overly broad target groups, unclear business goals, or weak standout features, failing to provide sufficient guidance. Spend time refining your strategy to ensure it is specific and detailed, clearly stating the target users, the problem being solved, the business impact, and key features.
Not Evidence-based
Basing a product strategy on intuition, stakeholder views, or past experiences rather than empirical evidence is risky. It’s better to create an initial strategy and validate it through an iterative, risk-driven approach. Identify and address the biggest risks, gather data through user observations, interviews, or prototypes, and refine the strategy based on the insights.
Disconnected
A good product strategy should remain connected to product discovery and delivery, influencing the product backlog and ensuring strategic decisions translate into tactical actions. Avoid treating the strategy in isolation by linking it to the product roadmap and backlog, creating a coherent plan from strategy to implementation.
Fixed
Viewing the product strategy as a rigid plan rather than a flexible, evolving guide is a mistake. As your product and market evolve, so too should your strategy. Regularly inspect and adapt the strategy by asking about performance, trends, competition, and company changes to ensure it continues to offer helpful guidance.
Lack of Buy-in
Without buy-in from key stakeholders and development team members, even the best strategy will fail. Secure support by involving these individuals in the strategy creation process through collaborative workshops. While you should aim for widespread support, don’t let dominant voices control the direction.
Lack of Effective Ownership
The product strategy should not be solely the head of product’s responsibility. Instead, the product team should collectively create, validate, and update the strategy, with the product manager having the final say if no agreement is reached. This ensures effective ownership and clearer guidance.
Strategy Cult
A common error is believing there is only one correct way to create a product strategy. Instead of rigidly following a single process, use the method that best fits your product and organization. Whether you prefer certain models or tools, the key is to ensure the strategy effectively determines the product’s value and path to success.