I require some assistance. I have been asked to put together a product strategy deck since there is neither a CPO nor a head of product present. Although I’ve never made one before, I wanted to ask you guys what the ideal deck ought to have.
Can anybody assist? Apparently, I’m looking at Google and ChatGPT as well, but I was curious what other PMs thought.
A product strategy deck typically outlines the high-level goals and direction of a product. It can vary based on the company and product, but here are some general sections you may want to include in your deck:
Executive Summary: This section should briefly explain the product vision and goals, target market, and high-level strategy.
Market Analysis: This section should cover the market trends, competitive landscape, and customer needs that the product addresses.
Product Roadmap: This section should outline the product roadmap, including high-level timelines, milestones, and key features that will be delivered.
User Personas: This section should outline the key user personas for the product, including their needs, pain points, and goals.
Business Model: This section should explain the business model for the product, including revenue streams, pricing strategy, and customer acquisition strategy.
Marketing and Sales: This section should cover the marketing and sales strategy for the product, including key channels, messaging, and tactics.
Key Performance Indicators: This section should outline the key metrics that will be used to measure the success of the product, including acquisition, retention, revenue, and customer satisfaction.
Risks and Challenges: This section should cover potential risks and challenges that could impact the success of the product, and how they will be mitigated.
Conclusion: This section should summarize the key points of the product strategy, and highlight the potential impact and value of the product.
I hope this helps! Good luck with your product strategy deck.
As you’ve probably gathered from the responses so far, everyone has their own take. This is true person to person, team to team, and org to org.
Given that, the biggest tip I can give you is whoever the “sponsor” of this strategy is (I’m assuming someone on the exec team) get them involved early and often to help the development of both the thinking and the messaging. Equally important.
Broadly, from my point of view, strategy decks should answer The What, The Why, and The How. The best way I have found for this is “the strategy cascade.” A series of 5 questions that interlink and have feedback loops to each other.
What is our winning aspiration? In other words, what is the ideal future we want to build? This should be fixed for 12 months+, if you’re changing ir quarter to quarter, this is either not agreed or not high level enough.
Where to play? Across geographies, customer segments, channels, verticals, etc. This helps narrow down the focus of the macro aspiration.
How to win? This is more than just unfair advantages and should also include your value proposition. Remember that this needs to take into account your defined playing field and make sure you can consistently deliver value to your chosen segments.
What capabilities need to be in place? This is both technical and process wise.
What management systems are required? How do we foster the culture required, measure results, course correct, etc.
You can argue one way or the other about whether 4 and 5 should be in a product strategy deck (as opposed to company strategy), but I feel it’s important to complete the picture.
Mission. Single slide. Why does your company exist? Why is your work important?
Vision. Slightly more concrete. What are you going to build?
Users. Top 2-3 user groups with a short description and top 3 needs per group. Can be the target audience instead of users.
Unfair advantage. What are your 2-3 unfair advantages? Why is each advantage true? How can you leverage each advantage?
Competitors. Ideally, with some kind of comparison, SWOT summary. Can be Forrester Wave chart. Can be a simple table with some checkmarks for features or target markets served.
Pillars/Bets/Features/Product areas. One overview slide. One slide per pillar with some insights. Insight should justify why to solve that problem or build that solution. Can go deeper and create a single slight for each insight.
Growth/GTM. How will you introduce the product to the market? How will it grow? Product-led growth? Sales-led growth? Partnerships?
Teams. Which teams are involved/needed? What are each team’s objective, goal for this quarter (or year), and some example initiatives for non-technical stakeholders? Ideally, all on a single slide.
Thanks for the feedback @BethanyGrey! You’re right, including financial projections and analysis is also important in some cases, especially when presenting to investors or other stakeholders. In those cases, you may want to include additional sections such as:
Total Addressable Market (TAM) Analysis: This section should provide an estimate of the total addressable market for the product and how the company plans to capture a share of that market.
Revenue Projections: This section should include detailed revenue projections, including assumptions and methodology used for projections.
Cost Analysis: This section should outline the estimated costs associated with developing, launching, and maintaining the product.
Return on Investment (ROI) Analysis: This section should show the potential return on investment for the product and how long it will take to achieve profitability.
Including financial projections and analysis in your product strategy deck can help demonstrate the potential business value of the product and its potential for success.
This is actually a pretty good place to start. It’s a great resource. The article provides a clear and concise overview of the key components of a product strategy deck and provides some practical tips for creating an effective deck.
The article emphasizes the importance of clearly defining the target market, value proposition, and competitive landscape, which are critical elements of a product strategy deck. It also highlights the need to have a clear understanding of the customer and the user experience, as well as the importance of a well-defined product roadmap that aligns with the company’s overall business goals and objectives.
One thing I particularly liked about the article is the emphasis on the iterative nature of product strategy. It stresses the need to constantly gather feedback and iterate on the product strategy as you learn more about the market, customer needs, and the competitive landscape.
Overall, I think this is a great resource for anyone looking to create a product strategy deck, and it provides a solid framework for developing an effective strategy.
I think of a strategy deck as the what and the how. The why is probably/hopefully already articulated.
To define the what, consider the goals and outcomes for the year. I really like the OKR framework for this. At a high level, what are the outcomes you plan to achieve by end of year? Quantify this as much as possible (launch 10 new features, acquire X new customers, increase customer engagement by X, whatever). Then it’s helpful to use quarters as a goal post for how you’ll know if you’re on track.
To define the how, you might want to focus on who will be involved and the team structure, as well as what processes are in place for customers and stakeholders to give feedback and get updates. This is also a good place to put any asks you have from leadership, maybe you need X more engineers or X more budget for travel to clients, or X more money for infrastructure upgrades.
Then I recommend stepping back and identifying the top few things you want stakeholders to take away from your strategy deck. Make sure those are repeated throughout the presentation (we are focusing on engagement and we are ok with losing X in revenue in the short term, or whatever).
Thank you all for the overwhelming responses over my concern and query. Each one is so precise and well explained. Well, I’d like to add here that my audience is senior stakeholders and the wider org. Outcome I’m aiming for is a clear articulation of our strategy for this year.
Great, in that case, you’ll want to make sure your product strategy deck is clear, concise, and easy to understand, while also providing enough detail to give stakeholders a sense of the product direction and goals for the year. Here are some additional tips to help you achieve this outcome:
Focus on the key themes: Make sure your deck is focused on the key themes that will drive the product strategy for the year. This may include new product development, improvements to existing products, and changes in the market or competitive landscape.
Define the target market: Clearly define the target market for your product and why this market is important to your business.
Articulate the value proposition: Clearly articulate the value proposition for your product and how it addresses customer needs and pain points.
Provide a roadmap: Provide a roadmap that outlines the key features, milestones, and timelines for the year, and how they align with the company’s overall goals and objectives.
Highlight the key metrics: Highlight the key metrics that will be used to measure the success of the product, including acquisition, retention, revenue, and customer satisfaction.
Be visual: Use visuals, such as graphs and charts, to help stakeholders understand the information more easily and make it more engaging.
Make it actionable: Provide clear next steps and actionable items for stakeholders to take, so they can understand what their role is in achieving the product strategy goals for the year.
By following these tips, you’ll be able to create a clear and effective product strategy deck that articulates the product direction and goals for the year to your senior stakeholders and the wider organization.
It depends if this is a new product or existing products and the goal of the strategy deck (e.g., continue investing, more resources, sunset etc.).
To amend the outline
Market / TAM / Growth rate
Current state of the union (how well are we solving this problem today)
Gaps / benchmarked against competitors
Strategic themes (top 5) / not doing list
Theme details / mocks
High level plan / milestones
Resources / resource gap / resource staffing scenarios
Growth / GTM
Risks / challenges
Discussion topics / alignment
You can discussion topic anywhere in the deck e.g. in resource staffing (#9), you insert a slide for discussion “We need X additional resources to ship by X public event, else we will miss it. Are we aligned to fund this initiative?”
Try to get a 30mins with each of the big fish in the org, ask them to tell you their take on the strategy. Do not overtly ask for advice and suggestions, but steer the conversation this way.
After that see if some of them give you conflicting opinions.
if they agree - just package what they told you in some pretty slides and tell it back to them - all of course from Product side.
if they don’t agree - highlight their differing ideas as “options”, If there are 3 or fewer options, add yours that sits in the middle so they have opportunity to compromise, or see that compromise is not good.
But it’s easy for me to give uninformed advice here. good luck