The current state
Do any of these scenarios sound familiar in your company?
- Product cost estimates or schedules are usually wrong
- Your competition always seems to innovate faster or “get there first”
- Product management staff are exhausted, and relationships strained, after launch
- Engineering, marketing and sales seem out of sync
- Products are slow to succeed in the market
We often begin working with a client not only because management is looking to improve results, but because the people who participate in product planning across the organization are looking for a better way. There is almost always a great opportunity to work smarter, not harder to achieve better results through effective product management.
Ineffective product management practices hinder your team’s ability to meet product delivery targets and launch products that solve urgent and high value problems for your customers.
Your business has struggled to focus your Product Managers on the high value elements because of constant pressure to react to the tactical needs of your company. Typically, just a few people are responsible for:
- Staying abreast of industry trends
- Monitoring key competitors
- Maintaining insight into customer needs
- Understanding engineering limitations
- Communicating effectively to diverse audiences
Combine those basic responsibilities with the demand for shorter product cycles, rapidly-changing technologies and a more dynamic competitive environment found in high-tech companies, and the pressure mounts.
As a result of the training and mentoring Egress provided, I no longer wake up dreading the fires I and my team will have to put out.- VP of Marketing Financial Services, Deluxe
Just as a well-designed product allows a user to complete a task in an effortless and intuitive way, a well-designed product management process allows product teams to easily perform their work and exceed their goals.
By establishing a common vocabulary, teams across the organization contribute to the success of a market-driven approach that will get the right products into the right segment faster. Additionally, by measuring the right operational factors, all levels of management benefit from a clear understanding of high performance, and successful outcomes.
To discover what is possible for your organization through improved product management, learn more about our thorough product management assessment.