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Mastering Product Strategy: Practical Insights for Agile Growth and Innovation

Writer: Glib GavryliukGlib Gavryliuk

In the ever-evolving world of product management, adaptability is key. After transitioning from a traditional role to consulting and fractional product management, I’ve had the opportunity to work on diverse projects - from dating apps to AI startups. This experience has given me unique insights into common challenges and effective strategies. In this article, I’ll share my approach to navigating the complex landscape of product development, leveraging AI, and driving growth.


Strategy is your GPS system. It gives you a preferred route, but it can also recalculate when you hit unexpected traffic or decide to take a detour.
Directed by strategy, much like a compass navigating shifting landscapes, adjusting with every new route.

 

From Layoff to Leadership: Navigating the Product Landscape

After an unexpected career shift, I found myself at a crossroads. Rather than viewing it as a setback, I seized the opportunity to reinvent my professional journey. Transitioning into consulting and fractional product management opened doors to a diverse portfolio of projects, each presenting unique challenges and learning opportunities.


In just six months, I’ve had the privilege of working on an eclectic mix of products:


  • A cutting-edge dating app

  • B2B service company seeking to redefine their market position

  • Another B2B company seeking to leverage AI capabilities

  • An early-stage AI startup


This varied experience has not only broadened my skill set but also provided invaluable insights into the common pitfalls and best practices in product development across different industries.



Embracing AI: The Game-Changer

As a product manager, I’ve always prided myself on versatility. However, the integration of AI into my workflow has been transformative:


  • Coding and Web Development: AI tools have empowered me to build web applications, bridging the gap between product vision and technical execution.

  • Research: Leveraging AI capabilities has revolutionized my approach to market and user research, enabling deeper insights in less time.

  • Data analysis: AI-powered analytics tools have supercharged my ability to extract actionable insights from vast datasets, enabling data-driven decision-making at unprecedented speeds.


Navigating Client Challenges

My clients’ challenges have been as diverse as their industries:


  • Legacy companies struggling to maintain market relevance

  • Startups grappling with positioning and vision or building MVP

  • Businesses seeking effective AI transformation


Through these experiences, I’ve identified recurring patterns and common missteps that many companies face, regardless of their size or sector. This article aims to share these insights, providing a roadmap for navigating the complex terrain of product development and management.


By sharing my journey and the lessons learned, I hope to offer valuable perspectives to fellow product managers, entrepreneurs, and business leaders. The principles and strategies discussed here can help you drive changes and achieve sustainable results in today’s dynamic business landscape.


Desk Research and Discovery: Laying the Groundwork for Success

When you’re tasked with driving change in a company—whether you’re a new hire, recently promoted, or facing business challenges—thorough desk research is your first crucial step. This process is about building a comprehensive understanding of the company’s landscape before diving into action. Your colleagues or stakeholders are invaluable sources of information and insight.


Key Areas to Investigate:

  • Company History: Uncover the pivotal events that shaped the organization’s current state.

  • Market Position: Analyze where the company stands in relation to competitors.

  • Past Initiatives: Examine previous attempts at improvement and their outcomes.

  • Stakeholder Perspectives: Understand the thought processes driving key decision-makers.


Data is a King.

Despite the availability of customer data, many organizations struggle to identify actionable insights that differentiate between diverse client needs and priorities. Drill your data, even if your data is limited.


Leveraging AI for Deep Analysis and Visualization

Even with limited data, AI tools can help you uncover valuable insights:

  • Utilize AI-powered analytics platforms like Tableau, Power BI or BigQuery to perform deep analysis and create interactive visualizations.

  • With the help of Claude or ChatGPT, employ machine learning algorithms to identify patterns and predict trends that may not be apparent through manual analysis.

  • Use natural language processing tools to analyze unstructured data from customer feedback and support interactions.


From a strategic perspective, think about how you can collect and enrich meaningful data. I won’t recommend spending any marketing budgets before you define your user. To start the ball rolling try to enrich your marketing data with behavioral metrics such as purchase intent, browsing behavior, content preferences, email and Ad engagement. Marketing should know what key needs or preferences users have to navigate them in the right direction or convince them to buy your product or service. Run experiments and share findings across teams. Feed your colleagues with experiment results and behavioral insights to inform decision-making across departments.


User persona. Data Enrichment.

To keep your CRM data up-to-date and comprehensive, automation is key.

Keeping your data fresh and meaningful is a game-changer, but let’s face it - manual data entry is a soul-crushing time sink. Instead of drowning in spreadsheets, let’s talk about working smarter, not harder.


First up, automation is your new best friend. Tools like Zapier and HubSpot workflows are lifesavers. Imagine this: a customer fills out your survey form, and boom - this info magically appears in your CRM, complete with preferences, goals, pains, social media details and company info. No more copy-paste marathon. Zapier can connect your CRM to practically any web app out there, while HubSpot’s workflows can do some serious heavy lifting when it comes to data enrichment.


But here’s the kicker - automation isn’t just about saving time. With the right setup, you can automatically log support tickets, track email opens, and even monitor social media mentions. It’s like having a team of data elves working 24/7.


Now, let’s talk surveys. I know, I know - the conversion rates can be depressing. Sending an email to 1000 users might get you five responses on a good day. But don’t throw in the towel just yet. Try piggybacking your survey onto something your customers are already engaging with, like an invoice. It’s not foolproof, but at least you know they’ll see it.


Instead of asking “Did you like our product?”, try “What’s the one thing that almost stopped you from buying?” You’ll be surprised at the insights you can uncover.


Lastly, don’t underestimate the power of good old-fashioned conversation. Regular user interviews are like a secret weapon for keeping your personas fresh and your strategy on point. It’s not just about validating your assumptions - it’s about uncovering the questions you didn’t even know to ask.


Remember, at the end of the day, it’s not about having the most data. It’s about having the right data and knowing how to use it. So automate what you can, ask smart questions, and never stop listening to your users. That’s how you build a truly data-driven strategy that keeps you ahead of the curve.


Building plans is pointless. Planning is priceless.

Let’s talk about vision and strategy - the secret sauce that can make or break your startup, product, or company. A lack of vision and strategy will lead you into trouble, no matter what stage you are in. The lack of vision and strategy is a double-edged sword. on one side you can get into the “build trap’ when organizations become stuck measuring their success by outputs rather than outcomes.


On the flip side you’ve got what I call “flexibility paralysis.” when you couldn’t nail down even basic product requirements because of trying to stay flexible too much. Most importantly, in any case, it will be waste time and money — a lot of money.


Recently, I had a client who had a very vogued Vision of the product because he believes that he is working in a hyper-dynamic market where everything is changing every day, so he needs to stay flexible in everything, including product vision, strategy and even product requirements.


The lack of Vision and Strategy could lead your team to frustration and burnout without any satisfaction. If you do not know where you want to go and what your success looks like, nobody will help you to get there. The most important thing here is that you have to accept that vision and strategy aren’t straitjackets. They’re more like a good GPS system. They give you a destination and a preferred route, but they can also recalculate when you hit unexpected traffic or decide to take a detour.


So, how do we strike that balance? Here’s my approach:

  1. Set your North Star: Have a clear, long-term vision. This is your “why,” your reason for existing.

  2. Chart your course: Develop a strategy that aligns with your vision but can adapt to market changes. Think of it as your roadmap.

  3. Plan for the unexpected: I always tell my clients to have a Plan A, B, and Z. A is your ideal path, B is your backup, and Z is your “break glass in case of emergency” option.

  4. Stay flexible, but not flaky: It’s okay to adjust your strategy - quarterly reviews are a good cadence. But don’t change direction with every gust of wind.

  5. Keep your ear to the ground: Continuously refine your vision based on new insights. Your customers and market are always evolving, and so should you.


Planning - as opposed to doing - is a sneaky form of cheap dopamine. Thinking through how to accomplish something is not the same as doing it, which can sometimes be detrimental. That’s because we get a squirt of dopamine when our brain thinks we’re moving forward on a goal.  In other words, it’s important not to overthink. Here, the fast iterations and MVP could be helpful.


Remember, the goal isn’t to predict the future perfectly. It’s to have a clear direction while being prepared to navigate the inevitable twists and turns of the business landscape.


By prioritizing flexibility and strategic alignment over rigid planning, you can:

  1. Adapt quickly to changing market demands and conditions

  2. Reduce conflicts and ensure all team members work towards the same goal

  3. Deliver products that meet customer needs while achieving business objectives

  4. Navigate ambiguity more effectively

  5. Foster innovation and creativity within the product development process


So the key takeaway here is:

☝“The more you want to stay flexible, the more you need to have a clear strategy and vision, not the other way around.”

Fast iterations with objectives.

Alright, lets go to action. Picture this: you’re staring at your website’s conversion rates, and they’re about as exciting as watching paint dry. You know you need to juice up those numbers, but where do you start? It’s tempting to go all-in on a flashy redesign, especially if your site’s looking a bit… let’s say, “vintage.” But hold your horses. Before you dive headfirst into a redesign rabbit hole, let’s try a more surgical approach.


Here’s a little exercise I ran with one of my clients that might just save your sanity (and your budget):

  1. Тail down your goal. Make it specific, like “Boost those demo requests by 20%.” None of that vague “improve conversions” nonsense. We’re after real, measurable results here.

  2. Next up, it’s detective time. Analyze customer feedback or metrics to unveil customer insights. It can be something like: “It’s not clear why personalized offers are being recommended”, “Users that used personalised offers are more likely to make an order or get a quote.” It takes too long until based on user journey on the website we can make the right offer that will serve.

  3. Analyze opportunities using the “How might we” technique: “How might we capture needs of new users efficiently?”, “How might we better explain why this offer displayed?”, “How might we best choose which offer to show?”

  4. From there, it’s hypothesis time. Think of it like placing bets, but instead of money, you’re wagering on what will make your users click that “Buy Now” button. Maybe it’s “Using services your company provides as anchors to offer will lead to more requests”, “Using testimonials your company have as an anchors to offer will lead to more requests” or “Using the the case studies that company have as an anchor to offer will lead to more requests.”

  5. Finally, pick your favorite hypothesis and give it the ol’ A/B test treatment. Whip up two versions of your page and let them duke it out in the real world. May the best design win!


The beauty of this approach? It’s fast, it’s focused, and it’s based on real insights, not just gut feelings or the latest design trends. You’re not boiling the ocean here; you’re making smart, targeted changes that can lead to big results.


Remember, in the world of web optimization, it’s not about making your site look pretty (though that doesn’t hurt). It’s about making it work harder for you. So roll up those sleeves, dig into the data, and start testing.


Metrics comparison table shows visitors, bounce rate, conversion rate, and new signups for Variants A (214 visitors) and B (218 visitors).
Comparison of A/B test results: Variant B receives slightly more visitors and achieves a higher conversion rate and new signups than Variant A, despite a higher bounce rate.

Experiment Culture

Here’s the deal: when you’re running experiments, you’ve got to channel your inner Usain Bolt. Fast and focused is the name of the game. I’m talking two weeks max for the whole shebang - from ideation to execution. And if you can squeeze it into a single sprint? Even better.

Now, let’s do some back-of-the-napkin math. You’ve got 365 days in a year, right? Sounds like a lot. But hold your horses. Once you subtract weekends, holidays, that vacation you’ve been promising yourself, and the occasional sick day (because let’s face it, we’re human), you’re left with about 200 working days. That’s it.


Grid showing 365 squares for days/year. Top colored rows represent weekends, holidays, vacation, sick days, and other activities.
Annual schedule detailing weekends, public holidays, paid vacations, sick days, and experiment periods.

So, here’s the kicker: if you’re running experiments that take two weeks each, you’re looking at a grand total of 20 experiments per year. That’s your innovation budget, folks. Twenty shots to make a difference, to move the needle, to find that game-changing insight.


Now, I know what you’re thinking. “But what if I need more time to perfect my experiment?” Yes, we all want our work to be pixel-perfect. But here’s a hard truth: perfection is the enemy of progress. While you’re agonizing over font sizes and button colors, your competitors are out there learning, iterating, and stealing your lunch.


So, here’s my advice: embrace the imperfect. Launch that experiment even if it’s a little rough around the edges. Because guess what? An imperfect experiment that’s live is infinitely more valuable than a perfect one that never sees the light of day.


Remember, each experiment is a learning opportunity. It’s a chance to gather real-world data, to test your assumptions, to get closer to what your users really want. And the faster you run these experiments, the faster you learn, and the quicker you can adapt.


So, the next time you find yourself endlessly tweaking that landing page or second-guessing that new feature, ask yourself: “Is this worth burning one of my 20 experiment slots?” If the answer isn’t a resounding “Hell yes!”, then it’s time to hit that launch button and move on to the next big idea.


In this fast-paced digital world, speed is your competitive advantage. So stop overthinking, start doing, and let the results speak for themselves. After all, in the grand experiment of business, it’s not the strongest or the smartest that survive - it’s those who can adapt the fastest. Now go forth and experiment!

 

I’d love to hear your thoughts! And if you need expert guidance, just drop me a line. Let’s chat about how we can turn your challenges into opportunities and your ideas into game-changing products. 🚀

 
 

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