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Top 10 Product Strategy Templates With Samples and Examples

Nawsheen Muzamil

Your business should be a fusion of three things if you wish to dominate the market:

• A vision that stands out and is delivered upon, 
• A growing clientele base that constantly feels satisfied, and 
• The practical utility of one’s products. 

Remove the vision, you may not be that well-known, or respected. Absence of a growing customer base or sales mean you no longer stay in the market. If your products are not solving the problem these were built for, then what are we talking about?

Don’t lose hope if your business is facing any of the three issues outlined above. We, at SlideTeam , have curated the solution for your woes. All you need is a product strategy that is tactically strong and takes account of your business realities.

What Do We Mean By a Product Strategy?

Suppose you want to launch a new product in the market. Right from realizing the need to develop it to brainstorming with your team till the product reaches the target customers and gains acceptance; all of it falls in the realm of product strategy. A product strategy must therefore be complemented by the business go-to-market strategy. 

Without a product strategy, businesses can’t dream of building an empire or even profiting from it. A product strategy also needs to live up to the company vision to be remembered for long. Additionally, it should not only address the present concerns but also have enough provision to improvise or upgrade in the future. A viable product strategy will not only stabilize your presence in the market but allows you to launch newer products.

If we are on the same page, let’s help you with our top 10 product strategy templates to harness market forces in your favor. 

Templates for You

Template 1: go to market product strategy powerpoint presentation slides.

Developing a product that is the requirement of your target market depends on the go-to-market strategy that you follow. Yet, these two strategies do not work in silos. Ensure both your strategies are aligned in the same direction at the start of the project by downloading this content-ready PPT Presentation. This PPT Template is a great way to bring together and compliment the entire plan of developing and launching an appealing product. Get this now. 

Download this template

Template 2: Product Launch Go to Market Strategy PowerPoint Presentation

No strategy ever hit the bulls eye in its very first attempt. It was only after much trials and testing and thorough research that managers and teams learnt the ideal route to success. Use this PowerPoint Layout to pen down your previous campaigns and the strategies employed in them. Enlist your analysis of the market survey and the need for your product to position it correctly amid the competition. Use this detailed presentation to devise a thorough product strategy and thereafter a follow up go-to market strategy. Download now!

Template 3: Product Pricing Strategy PowerPoint Presentation

An important aspect of your product strategy and subsequently the go-to-market strategy is the pricing. After your product is ready, it’s time to price and position it well so that it attracts maximum buyers and continues to remain the number one choice of your target customers. Use our product pricing strategy roadmap template to assemble your research of the market and your insights about competition. Use graphs and charts to trace patterns and find out the best ways to value your products as well as claim market monopoly. Download now!

Template 4: One-Page Product Category Management Strategy Presentation Report

Do you have multiple product lines that cater to segments of audiences? Then you need our one-page product category management template to analyze the best ways to profit from it. List your primary goals of business and employ the reach of your products to obtain the most of each segment. Categorize products and services by their price, type of consumers, and availability to garner the best ways to dominate each market segment. What are you waiting for? This professionally designed PPT Template is content-ready to perform this research. Grab it now!

Template 5: Implementing Product Strategy for Your Organization PowerPoint Presentation

It’s time to deliver a powerful product strategy. Let’s combine forces of your business potential, and a viable market that is open to compete and sustain, while also meeting user needs. With this well-researched template compilation, you will be able to beat market gimmicks and design a product that is in demand. You don’t need to stop there as using this presentation you can plan ahead and find out the best ways to thrive and flourish. Confused where to start? Get this template and follow the prescribed alignment of research and tracking using charts and graphs. Download now!

Template 6: Product Management Strategy PowerPoint Presentation

Suppose yours is a mobile application development company, and a need is felt to roll out a specific feature or a new application altogether. Use this PPT Compilation as a launching pad to guide your researches, surveys, and analysis of past and market performances. Using graphs, charts, and infographics, ensure the product management process is properly planned and executed and the ROIs maximized. Grab this PPT Template. 

Template 7: Product Roll Out Strategy Proposal PowerPoint Presentation

Does your product launch company perform miracles? Use this presentation to sprinkle some of that magic when pitching to clients who want to avail your product launching services. This PPT PowerPoint is a complete package to deliver a proposal that features a cover letter, a record of your previous achievements, your professional prowess, and finally the take on the client’s products that need unveiling. Talk about your team and win your audience with these PPT Slides. Download now!

Template 8: McKinsey Portfolio Matrix Product Strategy Tools

Your path to devise an ideal product strategy is furthermore assisted with a McKinsey matrix that compares every business roll out with two determining factors, the market attractiveness or favorability and your business strengths. Based on the alignment of these scales, of course the ideal condition will be that of maximum market favorability with monopoly product/service. With this editable PPT Template, compare and contrast the viability of your products and services by aligning them on this 3*3 matrix. Separate risky investments from fruitful ones and understand where your potential to build and divest resides. Get it now.

Template 9: Six Months Timeline Roadmap for Product Strategy

Framing and working on a product strategy is not a one-day job. It can take months, thus, there is a need to monitor and coordinate between activities. Using this Gantt chart template, monitor the activities involved in developing, rolling out, and refining a product that spans across six months. During this period, tasks may overlap, for which this chart representation is ideal; it also helps you avoid hampering other activities and ensuring all tasks are completed. Get this vibrant PPT Template now!

Template 10: Strategy for New Product Launch and Promotion

A new product launch comes with a lot of responsibilities, because it is more than the act of unveiling months of hard work; it is about reaping benefits as well. This dual diagrammatic slide allows you to find out the best product launch strategy practice that will converge as many leads as it can. Actions, channels, and metrics are to be monitored simultaneously when attempting to achieve maximum sales. Use this flexible diagram structure to guide your team. Download now!

Get these designs today and start strategizing to reap immense market benefits later. 

PS: Marketers must be familiar with their ideal customer’s roadmap if they want to build a loyal customer base and build it over time. Clearly, they need our customer roadmap powerpoint presentation templates as assembled in this guide to address the seemingly unknown reasons that result in poor sales.

FAQs on Product Strategy Templates:

Why is a product strategy important for any business.

A product strategy is what brings a business’s vision to life. Every business upholds a futuristic notion that it tends to work toward and its product or a service is the tool with which it serves its audience. A product strategy must therefore be devised to create a smooth roadmap toward realization of business goals. Product strategy is what will keep a business running while delivering on the market demands and leaving the customer satisfied. Not to forget a product strategy must be in line with the company vision and reinforce it.

What are the key steps to design any product strategy?

The steps to devise and implement a product strategy are:

• Define the business vision in light of which all business activities including development, dispatch and positioning of products in the market will be guided.
• Charter the product objectives and goals that it hopes to achieve. For each listed objective, specify the mode of measuring success to monitor how your overall product strategy is progressing.
• Next, it’s time to identify the product launch themes, channels, and to track their outputs . For this again, the product team will create a roadmap, schedule tasks, and execute them in order .

How is product positioning relevant to a product strategy?

Product positioning is crucial to its development and launch. Before developing a product , you need to identify its anticipated market share amid the competition and demand. Product positioning will decide the amount of research that will go into development to be able to fit a particular segment. Look at MI for example, had much of the research not gone into its unique characteristics that include pricing and its balanced features, it would not have been competing with the top players like Apple.

How is product pricing related to product strategy?

Product pricing is important in framing product strategy. The break-even point needs to be surpassed or at least met while developing and advertising a product. And before even doing that, the market analysis needs to be done to identify the competitor prices so as to develop a product that stands the competition and become the customer’s new favorite. 

What is the difference between a product strategy and a go-to-market strategy?

A product strategy is mainly focussed on developing a useful, marketable product and linking it to the company vision and its mission. A go-to-market strategy focuses on the part wherein this product is to be rolled out into the market. For this, the necessary research about its positioning and pricing needs to be done in advance that is covered in the product strategy. Only then can the market be fully exploited and strategic goals achieved.

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Home Blog Business Guide to Crafting an Effective Strategy Presentation

Guide to Crafting an Effective Strategy Presentation

Presenting and communicating your strategies to align a team’s effort remains one of management’s priority tasks. Regardless of the company’s scale, strategic presentations help convey complex strategic plans into clear and actionable tasks to follow in accordance with the business goals.

In this guide, we will show you how to effectively create a strategic presentation, the elements it should list, and some recommendations for PowerPoint templates to speed up this process.

Table of Contents

• What is a Strategy Presentation?

Types of Strategy Presentations

• How to Structure a Strategy Presentation

Do and Don’ts of Strategy Presentations

Recommended powerpoint templates for strategy presentations, key takeaways, what is a strategy presentation.

A strategy presentation is a communication tool designed to communicate goals, strategic plans or pre-formulated strategies, and initiatives to stakeholders. The strategy presentation slide deck aims to outline the company’s vision, strategic goals, and the specific actions needed to achieve them. To accomplish that, strategy presentation slides typically introduce a mixture of visual aids with relevant data to maximize the retention rate across the audience.

We can define the following categories for strategy presentations.

Strategic Plan Presentations

Strategic plan presentations are intended to communicate the organization’s long-term goals and the strategies to achieve them to stakeholders. This kind of presentation may cover topics such as market analysis, strategic objectives, and detailed action plans. 

The primary purpose is to align the team and stakeholders around a shared vision and ensure everyone understands the steps necessary to drive the organization toward its strategic goals.

Sales Strategy Presentations

Sales strategy presentations are targeted toward increasing the sales revenue inside an organization within a specific time frame. These presentations detail the tactics, target markets, and objectives involved in boosting sales performance. They typically include an analysis of market trends, competitive positioning, and specific sales goals – elements we can find in a sales plan presentation . 

The core objective in sales strategy presentations is for team members to understand their role in executing the sales strategy and how to measure the impact of their actions.

Marketing Strategy Presentations

Marketing strategy presentations are instances in which the marketing plan presentation is communicated to the team and stakeholders. These presentations outline the methods and channels the company will use to reach its target audience and achieve marketing objectives. We can find details on market research, customer segmentation, positioning strategies, and planned marketing campaigns.

Think of a marketing strategy presentation as a roadmap for how marketing efforts can contribute to the overall business goals. It ensures clarity on task execution, expected outcomes, and resource allocation.

Business Model Strategy Presentations

Business model strategy presentations outline the fundamental structures and mechanisms through which a company creates, delivers and captures value. These presentations explain the business model components, such as revenue streams, cost structures, customer segments, value propositions, and key partnerships. 

The objective is to articulate how the company operates within its market and competitive environment, detailing strategies for sustainability and growth.

Product Development Strategy Presentations

Product development strategy presentations focus on the stages and processes required to design, create, and launch a new product. These presentations typically cover the product concept, design iterations, market research, target customer analysis, production processes, and marketing strategies. They aim to align cross-functional teams—such as R&D, marketing, and production—on the product’s vision, features, and roadmap.

IT Strategy Presentations

IT strategy presentations communicate an organization’s technology-related plans and objectives. They outline how IT resources, infrastructure, and initiatives align with the broader business strategy to enhance operational efficiency, support growth, and mitigate risks. Key topics typically include adopting new technologies, cybersecurity measures, data management strategies, and IT governance.

Change Management Strategy Presentations

Change management strategy presentations are typically used in organization restructuring scenarios – after mergers, acquisitions, or significant internal restructuring – outlining the approach and plans for managing organizational changes. Change Management Strategy presentations detail the reasons for change, the specific changes to be implemented, the strategies for managing the transition, and the impact on stakeholders. Key elements often include stakeholder analysis, communication plans , training programs , and mechanisms for feedback. 

The primary goal of Change Management Strategy slide decks is to facilitate a smooth transition by preparing the organization and its members for change, minimizing resistance, and ensuring that changes are effectively integrated into the organization to achieve desired outcomes and improve overall performance.

How to Structure an Effective Strategy Presentation

In our experience, here’s a suggested presentation structure format for a strategic presentation.

The Introduction

Begin your presentation with a relevant hook for the topic you are approaching (see our guide on How to Start a Presentation for tips). Use an agenda slide to introduce the key themes and strategic objectives to discuss. Additionally, consider incorporating an executive summary to provide a concise overview of the strategy, highlighting key decisions and expected outcomes.

Body of the Presentation

Depending on the kind of strategic presentation you deliver and the tools and slides required to design it. As a general guide, consider this approach per category:

• Strategic Plan Presentations: Strategic planning requires vision and mission statements, strategic goals , market analysis, SWOT analysis , action plans, and a timeline for accomplishing them.
• Sales Strategy Presentations: We need to showcase sales objectives, target market analysis, sales methods and tactics, performance metrics, and sales forecasts.
• Marketing Strategy Presentations: For this category, consider listing the marketing goals, customer segmentation, value proposition, marketing channels, budget, and timeline.
• Business Model Strategy Presentations: This can be done as part of a business plan presentation . Include the business model canvas, revenue streams, value propositions, key partnerships, and customer relationships.
• Product Development Strategy Presentations: Since we’re considering an entire product development plan, be sure to list the product concept, design and development process, market research, product roadmap, and the Go-to-market strategy .
• IT Strategy Presentations: This selection is mainly intended for organizations looking to renew their IT strategy. List the IT objectives, technology roadmap, infrastructure needs, cybersecurity strategy, IT budget, and resource allocation.
• Change Management Strategy Presentations : In this case, be clear about the core reason behind the change management. Include the change management plan, stakeholder analysis, communication strategy, training, and support plans.

The Conclusion

Concluding a strategy presentation effectively is crucial for reinforcing the key messages and ensuring that the audience leaves with a clear understanding of the strategic objectives and their role in achieving them. To achieve this, consider the following steps:

• Summarize Key Points: Summarize the business presentation , briefly recap the main strategic goals and necessary actions, reinforcing the session’s core messages.
• Closing Statement: End with a compelling statement or call to action that encapsulates the presentation’s vision, motivating your audience.
• Multimedia Element: Optionally, use a short impactful video or visual to vividly summarize the strategy, enhancing retention.
• Q&A Session: Allocate 3-5 minutes for questions to clarify uncertainties and engage the audience further.
• Follow-Up Details: Provide information on how attendees can access more resources or ask additional questions.
• Express Gratitude: Conclude by thanking your audience for their participation, emphasizing their importance to the strategy’s success.

Aside from these tips, we can also follow the recommendations from our article explaining how to end a presentation , which also recommends using a media presentation asset, like videos, although it’s advisable to leave 3-5 minutes for a question and answer session.

Follow these insights to improve the quality and impact of your strategy presentations.

Do(s) of Strategy Presentations

• Use visual aids to summarize concepts. 
• Prepare handouts so the audience can further reference the information you deliver.
• Tailor your presentation to include interactive presentation instances, as they can help to engage the audience in the importance of their role.
• Consider a follow-up after a week. This can be in email format, with a poll, or a brief meeting in which you can evacuate doubts.

Don’t(s) of Strategy Presentations

• Respect your audience’s time, and don’t go overboard, especially if this involves sacrificing the Q&A session.
• Don’t use outdated data. Ensure all your statistics and references are current and relevant.
• Avoid using industry-specific terms without explaining them, unless you are sure that your audience will understand.

To speed up your strategy presentation design process, here’s a list of recommended PowerPoint templates and Google Slides templates by SlideModel.

1. Brand Strategy PowerPoint Template

This brand strategy template for presentations includes striking visuals and cohesive color scheme. Whether you’re presenting a brand strategy presentation to stakeholders or team members, this brand strategy PPT template empowers you to convey the essence of your brand strategy with clarity and impact. Use the brand strategy PowerPoint template to guide your audience through your brand’s journey and strategic milestones.

Use This Template

2. Goals Based Strategic Planning PowerPoint Templates

With a goal-oriented approach, the goal-based strategic planning PPT template emphasizes setting measurable objectives to transform visions into actionable results. This strategy presentation template provides a forward-looking framework, where goals are established from a future vantage point and brought to life through detailed KPIs, such as revenue targets and profit margins.

The Goal-based strategic planning template contains 15 customizable slides, including GAP analyses, problem statements, and strategic action plans, complete with a 30-60-90 day timeline.

3. Sustainability Strategy PowerPoint Template

4. Communication Strategy PowerPoint Template

5. Go-To-Market PowerPoint Template

Frequently Asked Questions

To make a strategy presentation more engaging, use interactive elements like polls or Q&A sessions, incorporate storytelling to contextualize data, and use visual aids and animations to highlight key points.

The ideal length of a strategy presentation varies based on content and audience, but generally, it should not exceed 30 minutes. This duration helps maintain audience attention while leaving time for discussions and Q&A session .

Strategy presentations should be updated regularly, at least annually or as major changes occur within the organization or industry. Regular updates ensure that the content remains relevant and reflects current goals and strategies.

To engage senior executives, focus on summarizing strategic impacts, ROI, and alignment with overarching business goals . Keep the presentation concise, data-driven, and directly related to decision-making and organizational growth.

Providing handouts can be very beneficial, especially for complex presentations. Handouts allow attendees to revisit the content at their own pace, which can aid in better understanding and retention.

• Clarify Goals and Objectives: Strategy presentations are essential for communicating clear, actionable goals and strategic plans to stakeholders.
• Incorporate Visuals Aids: Incorporating visual slides with charts, graphs, and infographics can greatly enhance understanding and retention of complex information.
• Adapt Presentation to Audience: Tailoring the presentation to the audience’s knowledge level and interest ensures greater engagement and comprehension.
• Use of Templates: Employing professional strategy PowerPoint or Google Slides templates can streamline the creation process and ensure a consistent, professional appearance.
• Engagement and Interaction: Incorporating interactive elements and engaging visuals helps maintain audience interest and facilitates better understanding of their roles in strategy implementation.
• Continuous Update and Feedback: Regular updates and follow-ups help keep the strategy aligned with organizational goals and stakeholder expectations.

Final Words

A well-prepared strategy presentation is a powerful tool for communicating an organization’s objectives. Presenters should focus on leveraging their graphical assets so the text inside slides is reduced to the minimum—content that can be shared in handouts for presentation format—which guarantees a smooth experience for the audience.

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Presentation Approaches, Strategy Filed under Business

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10 Steps to a Killer Product Strategy Framework

You hear the term product strategy all the time, but what does it mean? What does an effective product strategy look like? How does it improve the odds of product success? This article gives you a step-by-step guide to building a killer product strategy framework.

Product Managers: Treat Your Strategy Like a Product

The Product Stack recently hosted a webinar on developing an effective product strategy . The panelists offered several ways of understanding what product strategy means and where it fits into the overall process of bringing products to the market. You can watch it for free below.

Hadrien Raffalli, product lead at VMware, offered this definition:

Product strategy is the art of finding and exploiting leverage in the competitive landscape to achieve the purpose you’ve set out for your product.

Hadrien also placed strategy in context as part of the broader product management process. First, you’ll establish your mission for the product. This is the highest-level objective or purpose—how your hope your product will change the world for the better. Hadrien pointed out that product teams and entrepreneurs often define their mission before understanding their market or user personas well. That’s okay. These learnings will come later.

Next comes the product strategy itself: finding something of value to your market that you can deliver to your competitors can’t or won’t.

Finally, Hadrien explained that after you’ve defined your product strategy, you will move on to execution, which he defined as the steps you’ll take to enact your strategy, learn from the early work your team does, and then course-correct accordingly.

An Example Product Strategy Framework

Kevin Steigerwald, Jama Software’s director of product design, offered concrete examples of the types of things that should comprise a product strategy. He used the following hypothetical:

Become the #1 provider in this space

Strategy (just some of the items):

• Spend X% on marketing in this industry
• Build an appealing incentive structure for our sales reps
• Allocate X amount of resources and budget to develop this new product

Then, Kevin explained, you will create key performance indicators (KPIs) for each of these strategic elements to give your team a gauge of whether or not the company is executing successfully on the strategy.

Product Strategy Pro Tip

ProductPlan’s Annie Dunham added another contribution to the discussion on product strategy: It needs to be grounded in reality.

Now let’s get into the details. How do you develop a product strategy using a framework, step by step? Here’s a summary of our webinar panelists.

Step 1: Create an ambitious product mission or vision.

As we’ve pointed out, your strategy should flow naturally from your product’s mission or vision. So, before you can start writing out the strategy, you need to develop your product vision : what you hope it will do to enhance your user persona’s life, add value to your market, or even change the world. Be bold, ambitious. Stretch. In other words, have a major purpose.

Step 2: Learn about customer needs and how they’re evolving.

As Hadrien explained, you can develop your product’s purpose before you get to know your user persona well. But to build an effective product strategy, you’ll need to truly understand your market—what your customers need, what they want, what problems they face, and are willing to pay to resolve, etc.

So, your next step should be to get to know these people. Do market research. Talk to your user personas. Develop a detailed profile on them and identify the challenges they face that your product could address.

Step 3: Understand where your product idea fits into the value chain.

Your product won’t exist in a vacuum. It will be part of the larger context of your users’ lives. You need to understand this larger context to know how your product fits in, and what if any obstacles your target customers might face using your product—even if they want to.

A great example of this is Netflix. The company successfully transitioned its business model from DVD rentals by mail to an online streaming service. But first, Netflix had to make sure its new model would work logistically, technologically, and financially for its customers and partners. Questions the company would’ve had to answer before making this transition included:

· Will the average consumer have enough bandwidth coming into their home to support streaming movies and TV shows? (If not, this might not work.)

· Will the internet providers continue charging by bandwidth, or will they move to a flat monthly rate? (If ISPs kept billing by bandwidth, this might not work.)

· Will some ISPs, whose bandwidth we’re consuming in large quantities, block our content off to protect their margins? (If that’s a possibility, this might not work.)

Step 4: Look for similar growth patterns and cycles in other markets.

You don’t need to start from scratch to build a product strategy. If you’re trying an innovation, maybe you can find an example of a product in another market that gained market share—and follow that product’s strategy. What did the company do to promote the new idea? What did their go-to-market strategy look like? Can you use some of the techniques of this other company to set the strategy for your product?

Also, can you find the stories of other companies that failed in that market? What techniques did they use that you’d want to avoid in your strategy?

Step 5: Identify the ways your market might change and be ready.

As you examine similar trends and patterns in other markets, you will get a better sense of how things can evolve. Also, if you’ve gotten to know your user personas, you might be able to make educated guesses about where things are headed in their markets or in the new tools and processes that they’ll be adopting soon.

Based on this knowledge, you’ll want to make educated guesses about these potential upcoming changes so that you can build your strategy accordingly.

Step 6: Develop your strategy’s KPIs.

As Annie pointed out in the webinar, your goal should be to develop measurable KPIs while you’re creating your strategy—not backfilling them after your strategy is complete.

The reason for this is that it will give you quantifiable ways to determine if you’re basing your product strategy on accurate assumptions or not. Discovering early on that your initial assumptions were flawed will allow your team to course correct sooner. It means less time spent going down the wrong path in your product’s development.

Step 7: Build your product roadmap.

Your product roadmap should always be tied to strategy . Every theme, epic, and other product initiatives your team are considering should earn a spot on the roadmap only to the extent that it supports your product strategy.

Step 8: Communicate your strategy.

With a completed version of your product roadmap, you’re ready to share your product strategy with all relevant stakeholders. Your roadmap should be the vehicle you use to convey your high-level plans and goals—your “why”—behind your strategy.

During our webinar, Kevin made a great suggestion for articulating your product strategy clearly and persuasively before introducing it to the whole company.

First, Kevin said, have an informal discussion with your manager and try explaining your strategy. Does your manager understand it and find it persuasive? If not, you’ll want to review it, check it for flaws, things that might be missing, or if you just haven’t fully grasped it yourself to articulate it clearly.

If your manager does find the strategy persuasive, that’s a win! Now, spread the word to all of your stakeholders—not only about strategy but also the vision as well. Remind your cross-functional team often of the big-picture mission you’re aiming for, and the specific strategy you’ve outlined to get the company to achieve that mission.

Bonus tip: Your roadmap should contain your strategic reasoning for every major theme or epic it contains. If you’ve prioritized building new functionality into the product, the roadmap should justify that decision—with a brief strategic explanation, a relevant piece of data, etc.

Step 9: Begin executing on your strategy.

Now it’s time for your team to translate the strategic steps into actionable tasks. This could include engaging your UX team to create mockups and your developers to create working prototypes of the product. Your goal should be to present a sneak peek of what the product will eventually do—and maybe even offer limited functionality—to your users, to gauge their interest levels, ideas, and other feedback. All of which will inform your next and final step.

Step 10: Measure your progress and course-correct along the way.

The more you can ground your product strategy in real data, the greater your chances for success in the market. With that in mind, you’ll want to make your product strategy a two-way conversation between your team and your users.

At every step in the product strategy framework, take the feedback you’re gaining from users and check it against your existing strategy. If your product is resonating with potential customers, then keep going. If users are sending you signals that they’d be more interested in different functionality or roadmap prioritization, then take this data and use it to find another way to achieve your product’s mission.

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Product Strategy: A Guide With Examples and Best Practices

Sep 4, 2020

“What should we work on next?”

The question hangs in the air, laden with the heaviness that’s been growing inside you since you took on your new role as a product manager..

“It’ll be fun,” they said. “This is what you’ve been waiting for,” they said. And you believed them. Now you’re not so sure. You feel like you’re being pulled in every direction without anything to hang on to.

“Uh, Peter?” A voice cuts through your thoughts.

“Our product strategy,” you answer. “We should work on our product strategy,” you repeat with more conviction.

You’re right. You can’t manage a product without a strategy. When you finish this post, you’ll know what a product strategy is, why it’s important, and how to create one that’s perfect for you. And you’ll also get a few pointers for the execution of your strategy so you’ll have more insight about and control over your product delivery.

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What Is a Product Strategy?

According to Wikipedia, a strategy is “a general plan to achieve one or more long-term or overall goals under conditions of uncertainty.”

That last part is essential.

Without uncertainty, you don’t need a strategy. You can go straight to a detailed plan.

In uncertain circumstances, you have to rely on a high-level, general plan. One that says what you want to achieve, but leaves the how well enough alone. It gives direction without specifying speed or means of motion. It guides everyone’s actions and decisions without telling them exactly what to do.

A product strategy, then, is a strategy to create and further develop a product to achieve one or more business goals.

Why Is a Product Strategy Important?

In an uncertain environment, it’s hard to know whether what you plan to do will pay off. But you still need to make decisions and produce results in line with your business goals.

It’s like navigating a ship.

You can’t get from A to B without a voyage plan and regularly checking where you are. And you’ll have to adjust along the way. You’ll have to avoid other ships (you’d be surprised how many you encounter at full sea), and adjust for currents and wind. You may even have to adjust your entire voyage plan to steer clear of a hurricane.

Your product strategy is the voyage plan for your product.

Staying Focused

A product strategy is important because it helps you to focus. To stay on course and resist the lure of that nice tropical island along the way.

Many people think focus is about saying “yes” to something and ignoring the rest. It isn’t. Focus is about saying “no” to everything that sounds good but doesn’t fit your overall idea and planning.

Saying “no” is hard enough as it is. Everyone with an idea has good reasons  why you should do it.

Having a product strategy will make it far easier to say “no” and stay on course. Because a product strategy doesn’t only tell you what you will do. It also tells you what you won’t do. Explicitly, or by omission.

Staying Aligned and Agile

Having and communicating a clear product strategy serves as the voyage plan, the initial course.

Knowing where you want to go and what you’re aiming for is essential for making quick, confident decisions. This allows you to respond and adjust more quickly to changes in your business environment, without veering too far off course.

For example, consider a developer who faces a dilemma between spending more time to polish the user experience of a task in your product or inventing a new way to calculate some metrics. If part of your strategy is to have the easiest-to-use product, the dilemma is off the table: the developer knows to focus on the user experience.

Clarity on what you’re aiming for means you no longer have to spell out what employees need to do.

What’s more, a product strategy works not just in your own product and development teams, but also in marketing, support, operations, and…well, actually, all departments in your organization.

So you no longer have to be involved in decision-making processes throughout your organization. Everyone can figure it out for themselves. And because of their knowledge and expertise in their own areas, they’ll come up with better solutions to contribute to those aims than someone outside their department ever could.

Charting the Way Forward

A product strategy is a high-level, general plan. It doesn’t yet tell you exactly what to do.

But it’s essential in creating those more detailed plans. Your product strategy guides the process of creating a product road map, including the decisions on what needs to be done first and what can wait until later. Exactly like it guided the developer in deciding what to spend time on.

And it serves the same purpose for other departments that work on or for the product.

4 Types of Product Strategy

Now that you know how a product strategy can benefit you, let’s talk about the different types of product strategies you can have.

Being the Alpha

This strategy, aka Leader, is to be the market leader, creating innovative products that’ll leave your competition lagging behind. It’s expensive, it’s risky, but the rewards can be huge.

Giving the Alpha a Run for Its Money

This strategy, aka Challenger, is to challenge the market leader by beating them at their own game.

Piggybacking

This strategy, aka Follower, is to piggyback on the innovations by the leaders and their challengers. You don’t create any innovative products yourself, but use them to create cheaper, derivative products.

Dominating a Corner

This strategy, aka Niche, is to create a product for very specific types of people in an otherwise large market. This allows you to work with limited resources because you don’t cater to everyone in the larger market.

The Elements of a Product Strategy

The most quoted elements that need to be in a product strategy are your vision for what the product will do, the business goals it’s meant to contribute to, and the initiatives to achieve those goals.

That, however, leaves out two essential topics.

What you also need is a description of who you’ll be serving (in other words, your ideal customer or customers), and how your product will solve their problems.

And you also need to include how your product is unique. The key features and differentiators that’ll set you apart from your competitors and attract your ideal customers.

Pro tip: include what your product will not do. The features that it won’t include. The bright shiny objects that you already know will be a distraction and that you’ll say “no” to from the outset.

5 Steps to Create a Product Strategy Perfect for You (With Examples)

Salute simon sinek.

According to Simon Sinek, in the TEDx talk  that put him on everyone’s radar, you have to start with why .

Why you go to the trouble of creating your product. What impact you want to have. Whose lives you intend to change.

The vision for your product is essential. Without an inspiring reason to create your product, and for your customers to buy it, everything falls flat.

Examples of Product Visions

Google for its search engine: “Provide access to the world’s information in one click.”

Nike for its Nike Free shoe: “A shoe which mimics barefoot running in order to strengthen runners’ feet and legs, giving them more power and speed while reducing the risk of injury.”

Paint Your People

The second step is to describe your ideal customer. Who they are, what they do, the problems they face, and how your product will solve their problems.

Understanding your ideal customer, your target audience, is key in creating a product that’ll appeal to them.

You need to understand what they want—and more importantly, what they need. The difference between wants and needs is the difference between shrugging and paying.

And you need to be specific. Large audiences—for example, parents—fall into different groups with different needs.

Examples of Target Audiences

Parents with young children who need an educational app, as opposed to parents with teenage children.

Amateur photographers using their smartphones to take pictures who need a picture enhancement app, as opposed to professional photographers.

Stand Out From the Crowd

The third step is to identify which key features you need and how to differentiate common features in similar products to stand out from the pack.

This speaks to the characteristics of your product: features, usability, quality, cost, customizability, robustness, and so on.

Examples of Key Features and Differentiators

Tax software with the specific forms for expatriates.

Content marketing with a CMS feature and step-by-step wizards for small business owners.

Word processing software specifically designed for users that rely on voice control.

Ready, Aim…and Keep Score

To know how you’re doing on your journey to contribute to the business goals of your organizations, you need four things.

Your current state.

Your goals—your desired state or target condition.

The metrics that describe your current and desired state.

Measuring regularly to check you’re still on course.

Examples of Goals and Their Metrics

Business goals:

Increase number of new sign-ups per month by 30% by the end of Q3.

Reduce time to market by an average of 20 days by year end.

Customer goals:

Increase the number of clients that create a full profile by 20% by the end of Q2.

Decrease time between sign-up and first valuable action by 50% by year end.

Blaze a Trail

Finally, then, you get to make a plan. At least, a very high-level plan. With your business and customer goals in mind, you identify the initiatives you’ll use to achieve the goals you’ve set.

Initiatives are more technical than goals. You can think of them as the grand themes of the actions you’ll take to bring your vision to life.

Examples of Initiatives

Attract customers from a new industry.

Launch a Wimbledon site for your tennis stats app.

Improve responsiveness and accessibility across your website and apps.

4 Best Practices for a Perfect Product Strategy

Problems are good.

Focus on problems, not solutions. When setting a strategy, talking about solutions is a form of premature optimization. It blinkers you to other solutions that may be better, easier, more cost effective, more relevant.

While you’re still discussing what strategy to take, the focus should be on understanding the problem you’re trying to solve and the challenges you face in reaching your business goals.

Only when that’s clear can you start generating possible solutions and initiatives to make them happen.

Options Are Even Better

When you start generating solutions to the challenges you face, don’t lean back when you’ve found the first. That’s only your start. Ask questions about how this solution helps you meet the business goals for your product. And how it doesn’t.

Ask yourself how else your product can meet the challenges you face.

It doesn’t matter how far out the challenges are. Feasibility is not the point at this moment. Creative thinking is. And far-out ideas can spark other ideas that are (more) feasible.

Plus, you’ll have plenty of time to cull any infeasible ideas before you start executing them.

That takes far less time and effort than prematurely picking a solution and realizing, halfway into executing it, that it doesn’t live up to expectations. U-turns and other sharp deviations of a set course are very expensive.

The More, the Merrier

Don’t sit in an ivory tower thinking up a product strategy for others to follow. Collaborate. Use the benefits of back-and-forth conversations between people with different perspectives and cognitive styles. Recruit from departments across your organization. And organize conversations both to understand the landscape of the challenges you face, and to get a plethora of solutions to pick from.

Facilitation Is Not Everybody’s Cup of Tea

Find a good facilitator and don’t get in their way.

Good facilitation isn’t easy. It takes skill and experience to guide a diverse group through problem solving. And it’s essential to ensure that everyone gets to contribute their best ideas.

You don’t want to jeopardize something as important as your product strategy with groupthink, loudmouths, shyness, HiPPOs (highest paid person’s opinion), and other group dynamics that discourage people from participating.

Pro tip: Hire an outside facilitator. Someone whose only interest is to ensure the quality of the process and has no interest whatsoever in the outcome of the conversation.

3 Tools for Effective Product Strategizing

When you’re working on your product strategy, you want to be concrete—but don’t get bogged down by details yet. Three tools, or rather worksheets, can help you do just that.

Product Strategy Canvas

Melissa Perri, CEO of Produx Labs and Product Institute, developed the product strategy canvas. It’s simple and straightforward, using a fill-in-the-blanks approach that doesn’t allow you to dig into details prematurely.

This canvas differs slightly in terminology from the standard vision-goal-initiatives template. It talks of your big business goals as the challenges you face. And instead of initiatives, it talks about your target condition—your desired state—and current state.

The product strategy canvas lets you focus on a single challenge-target condition combination at a time.

A complete product strategy will use more than one of these canvases. The vision will be the same for all, but the challenge can be different for each of your products. The target conditions and current states will vary across teams working on a product.

Including the current state in your product strategy is a smart move. It helps teams set the course to reach the target condition from where you are now. After all, if you don’t know where you’re starting out, you can’t set a good course to your destination.

And it brings another benefit. It helps you see how far you’ve come and celebrate your progress.

Finally, the language of the canvas helps you set SMART challenges, and measurable objectives to reach them.

Here’s an example of a filled-out product strategy canvas, from Melissa Perri’s blog :

Product Vision Board

Roman Pichler, founder of Pichler Consulting and author of several books on product management, developed the product vision board.

It too is simple and straightforward. It has your vision at the top, overarching the four areas you need in your strategy to make that vision happen.

The product vision board (“The Product Vision Board” (c) by Roman Pichler, licensed under CC BY-SA-3.0 US ) gives a broad view of the product and keeps all business goals together in one place. You can use it in a collaborative discussion across the organization. It guides these conversations with pertinent questions for each part.

To download a blank copy, go here .

Strategy Kernel Canvas

Chris Butler, member of the UX Collective and author of uxdesign.cc on Medium, proposed the strategy kernel canvas.

Like the product vision board, it takes a broad view on product strategy and can be used in a collaborative discussion across your organization. And it too has prompts in each area of the canvas to direct the conversation.

Like the product strategy canvas, it makes your current state explicit by prompting you to analyze how you got where you are and what you’re going to bet on to get you where you want to go.

You can find a discussion of the strategy kernel canvas by Chris Butler himself, here .

Execution: Moving From Product Strategy to Product Delivery

Just as knowledge is useless without action, a product strategy is useless without execution.

Execution is what brings your product to life (when you’re creating a new one) and what keeps it relevant (when you’re refining an existing one) and contributing to your business goals.

In a world that’s changing faster than ever before, you’ll need to act and respond quickly. That creates two challenges for you as the product manager:

reducing the time it takes the teams to delivery value to your customers, and

having visibility of and controlling the software delivery process across the whole product.

As you can’t do everything yourself, you’ll want help.

From linking pins between you and the agile product and development teams, the product owners  in Scrum.

And from tools, like Plutora’s dashboards for product leaders and managers , that give you insight into what’s happening across all the product and development teams, regardless of the software tools that each of them uses.

To reduce the time to value in developing your product, value stream mapping is a valuable technique to have in your toolbox, especially when you use a value stream mapping tool that integrates with your teams’ delivery toolchain. It will then provide you continuously with up-to-date metrics linked to the goals in your product strategy.

Product Strategy for the Win

You now have everything you need to create a perfect product strategy for your product. And you know where and how to get the help you need to execute it and be confident along the way that you’re on course.

So take the plunge and start work on an inspiring product vision. It’ll be your North Star that’ll guide your decisions, help you say “no,” and keep you from feeling like you’re being pulled in every direction.

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10 Steps to Creating a Powerful Product Presentation

Written by: Unenabasi Ekeruke

Whether you're running a small or large business, product presentations are a big deal. You've probably invested time and resources in creating a fantastic product to solve a market need.

That's great, but presenting your product to investors, prospects and other relevant stakeholders is the final piece of the puzzle.

Weeks, months and years of research, planning, design, production and testing often lead up to this point. So, you've got to create a persuasive product presentation that drives sales for your product.

Here's a short selection of 8 easy-to-edit product presentation templates you can edit, share and download with Visme. View more below:

If you're overwhelmed with the whole idea of creating product presentations and wondering how to get started, you're in the right place.

This article will teach you how to create powerful product presentations. We'll also share tips for delivering a product presentation that wows your audience.

Let's get started.

Table of Contents

What is a product presentation and why is it important, why create product presentations, product presentation vs. sales presentation, what you need in a product presentation, how to create a powerful product presentation in 10 steps, tips for nailing your product presentation.

Product presentation is the process of introducing a new or rebranded product to your audience. During product presentations, you'll dig deep into how your product works, how it will address customer pain points and the specific benefits it will bring to them.

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It often involves using visual aids like videos, images and slideshows to describe product features, benefits, market fit and other relevant details.

Presentations could take place at different stages of the product development process. But when introducing the product to potential buyers, the stakes are never higher. Therefore it's crucial to make your product presentation effective, impactful and memorable like the one below.

In many organizations, product presentations happen at different levels. For example, top management and executives could unveil a new line of products to the board of directors, investors and potential partners.

Product managers may present a beta or gamma version of a new product to the entire team. In addition, the sales team would have to make product presentations during sales visits to prospects.

Let's face it. There are tons of competing products in the market like yours. Your competitors could be offering similar products or substitutes.

This means that creating useful products may not be enough to set your brand apart or bring in sales. You need product presentations that produce eureka moments for your audience.

Getting it right with your presentations will not only win over your audience, but it'll drive product sales over the top.

But that's just the tip of the iceberg when it comes to the benefits of creating product presentations.

Here are other reasons why you need to create and deliver powerful product presentations.

Create a Memorable First Impression

Nowadays, people are faced with an explosion of product choices. This and many more factors have also contributed to their shrinking attention span.

By any chance, your product presentation could be the first interaction an investor, prospect or customer has with your brand. So, you have to make it count.

Your product presentation is an excellent opportunity for you to introduce your product and expand their knowledge about your brand. And nailing it will leave a positive and memorable first impression on your audience.

Best of all, it will nudge them to the consideration and conversion stage of your marketing funnel .

Tell a memorable and impressive product story with the captivating product presentation template below.

Build Trust and Long-Lasting Client Relationships

Customers will buy and recommend brands that provide incredible product and service experiences.

But how do you communicate value and product offerings to your prospects? How do you tilt customer purchase decisions in your favor?

The golden secret is a product presentation that makes you stand out. How you present your product can influence customers' perceptions of your brand.

During product presentations, you have a chance to showcase product features and promise of value to clients. And when done right, it can ignite a solid business relationship between you and potential customers.

Over time, these customers will trust your product and become loyal to your brand.

Here's what you should know. As a business owner, brand loyalty , customer trust and credibility are your greatest assets. A captivating product presentation will inspire client trust in your product and business.

Stand Out from the Competition

The business world is marked by fierce competition among companies that provide similar products and services.

You probably have a lot of competitors and you're wondering how to distinguish yourself. Start by delivering a flawless product presentation.

As previously stated, your sales presentation should be able to leave an indelible impression on prospects and investors. It would captivate their attention so completely that, regardless of the stiff competition, they would always opt for your brand.

One way to leave a lasting impression is to make your product presentation interactive. An interactive presentation whether presented or read builds a bridge between you and the potential investor or reader. Instead of simply throwing information at them an interactive presentation allows you to layout your storytelling and product information in a way that's engaging and enticing.

For example you might want to add video clips, popups with extra information for additional reading, or add a flip book effect. For more check out 20 Ways to Create an Interactive Presentation That Stands Out. 

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Boost Sales and Revenue

Having an excellent presentation is the key that unlocks sales for your product.

After your presentation, you certainly want customers to pull out their checks or proceed to the next steps. If you can nail your product presentations, you will win over your audience, gain new customers and increase sales.

On the contrary, mediocre product presentations could hurt your brand. You might even have a top product that has the potential to be a major game-changer. But poor delivery would not only portray you as lacking confidence in your product but could be a turn-off for prospects.

Want to convince your prospects to invest in your business or purchase your products? If the answer is yes, we recommend using a robust product presentation tool like Visme.

Check out the template below to see how Visme can make your product presentation pop.

Product presentations aren't so different from sales pitches. Both presentations focus on providing value or solutions to customers. However, product presentations are primarily focused on products or services.

With product presentations, you'll dive deeper into details like:

• How your product works
• How it will solve your customer's needs or pain points
• The specific benefits your product will bring to your customers

For instance, sales presentations can have a broad focus on your business as a whole rather than a particular product.

Let's say you run an accounting firm that offers a wide range of products and services. Your sales presentations could focus on pitching solutions like:

• Accounting audit
• Tax accounting
• Bookkeeping
• Forensic accounting

On the flip side, you'll need a product presentation to sell inventory management or accounting software to your clients.

Keep in mind that both presentations are essential for your sales process. The goal is to get your prospects' attention, drum up excitement and move them towards making a purchase decision.

Although product presentations cut across different industries, there's no universally accepted format. However, this infographic template below highlights the key elements of winning a product presentation.

Introduction

Company overview, the problem, product and solution.

• Promise of Value or Benefits

Product Positioning

Use cases and social proof.

• Call-to-Action

Together, these key details juice up your product presentation and make it a delight for your audience.

Read on to learn more about the key components of a captivating product presentation.

The introductory part is where you hook your audience in and get them excited about your presentation. It should provide an overview of what you will cover during your presentation.

In this section, you can sum up the purpose of your presentation, why it's relevant to your audience and key takeaways.

Before you get into the product details, start with a general overview of your company. It doesn't matter if your audience is familiar with your business or not. You want to include key details such as:

• Company name
• Vision, mission and goals
• When your business was created
• The products and services you offer
• How your business and products have evolved
• Relevant team members

Here's an intro slide from our startup pitch deck theme you can customize:

The problem or customer needs should receive more attention than others. This is what your prospects care about most and that's why they are sitting at the other end of the table. So we recommend that you include this section earlier in the presentation.

To attract audience attention, show them you have an in-depth understanding of pain points. Remember to explain how the problem affects your audience and the consequences of not resolving it.

Take note of how the presentation template below emphasizes the problem the product is designed to solve.

Start by showing your audience how they'll feel or what they could enjoy if they solve that problem. Here, you want to paint a mental picture of a perfect world without those pain points.

While writing this section, be sure to highlight these things:

• Introduce your product or service, passing any type of quality assurance services .
• Briefly explain how it addresses the problem and makes their dream of a perfect world a reality.
• Highlight how your product is made. Is it handcrafted, mass-produced, custom-made or batch produced?
• Include product details like features, functionalities, specifications, durability, quality and more.

Highlight your product features and process using the beautiful Visme template below.

Promise of Value

No product presentation is complete without a value proposition. This is where you make a case for your product. Articulating your promise of value will help create an "aha moment" for your prospects.

This section should provide more insight into the value your product Is offering. Here you should:

• Mention what your audience will get out of the product (product or service experience)
• Highlight what makes your product unique from other competing products (unique selling proposition)
• Explain why your prospect should opt for your product (competitive edge)

It's a good idea to center your product pitch around the key benefits your prospects will enjoy. So you want to highlight as many product benefits as possible. It could be productivity, convenience, health and wellness, peace of mind and much more.

Draw attention to your competitive edge and pitch your promise of value to prospective client and customers using the stunning template below.

Product positioning refers to how you want your market to think or feel about your product. It's a description of who you are as a brand, the products and services you offer, your target market and what makes your product unique.

Here you should talk about:

• Your brand image and values
• The positioning of competing products in your target market
• How your product features and benefits stack up to the competition

The infographic template below highlights the benefit of brand positioning.

Brand positioning helps to set you apart from your competitors. Think of it as what customers can remember about your brand when they think of similar products.

For example, the Pepsi brand is distinct from the Coca-Cola brand. Even though they are both cola drinks, they have different tastes, looks, connotations and legacies.

To influence customers' perceptions of your brand, you could create a brand positioning statement. For example, a recent marketing campaign by Salesforce highlights their brand positioning statement:

We bring companies and customers together. We make technology that supercharges every part of your company that connects with customers, delivering a 360-degree customer view across sales, marketing, service, e-commerce, mobile apps, connected products and more. CRM also powers integration with all the other parts of your business already humming along, including supply chains and finance, its back office, front office, and offices yet to come.

You could use the Visme template below to communicate your brand guidelines and product positioning.

This section should provide a visual picture of the customer using your product to address their problems. Here are some ways you can visualize or share them in your presentation.

• Create a scenario of how customers can use your product to solve their problem.
• Share customer reviews, testimonials, user ratings, celebrity endorsements, expert reviews and more.
• Share case studies and real results of how your product has helped similar businesses.
• Provide a snapshot of your product performance in terms of downloads, engagements, purchases and much more.
• Mention any product and compliance certifications, documentation, quality badges and awards you've received.
• Use anecdotes to showcase how existing customers love your solution.

Use this product testimonial slide template to showcase your own customer reviews.

Call-to-Action (CTA)

Now it's time to tell your viewers what you expect from them. Your call to action will depend on your audience.

It will also depend on the goal of your product presentations, which we'll discuss in the next section.

During in-house product presentations, you might want to ask for feedback from different departments. At a trade show, you might ask to meet prospective customers to meet you at the booth to make purchases.

During B2B presentations, you might request time for questions and more. Ultimately the goal is to get customers to purchase your product.

Most businesses have confidence in their ability to make excellent products. However, they struggle to commercialize or bring in revenues from those products.

Why's that? The attention spans of people in this tech-driven society are shrinking. And the reality is that people no longer have enough time to sit through mediocre product presentations.

Want to drive sales or get a positive return on investment for your product? Then you've got to make your product presentations compelling.

Let's show you how to create compelling product presentations that capture the important elements we've highlighted above.

Step 1: Define Your Goals

Whether you're presenting a new, rebranded or upgraded product, the first thing you need to do is to define your goals and objectives.

Let's say you've launched a new line of products into the market. Firstly, you'll have to spell out what you're looking to achieve with your product presentation?

• Do you want to get investors' buy-in to expand production capacity?
• Do you want to secure more funding from management to produce more units?
• Are you looking to secure partnerships with distributors, retailers or franchisees? Or you want to introduce the new product to your prospects or client.

Secondly, reiterate why it's important for you and your team to achieve these goals? For example, as you'd expect, securing partnerships with distributors could help:

• Expand your product reach
• Boost product sales and revenue
• Increase market share and more

Next, you want to highlight how you intend to communicate with your audience. Also, be clear about what you want your audience to do after watching your presentation.

Do you want your prospects to call you or buy one year's supply of your product? What about in-house presentations? Do you want the sales and marketing team to develop a strategy to introduce the product into a new market? Your presentations should answer these questions in a convincing way.

It makes sense, right? Lastly, remember to make your goals specific, measurable, attainable, realistic and time-bound (SMART).

The success of your presentation is measured by whether your audience understands and acts on your message. Therefore consider your goals in every slide and include a clear call to action.

Not sure how to set SMART goals for your product? Go ahead and use the worksheet below to jumpstart your creativity.

Step 2: Figure Out What Your Audience Needs

If you want to pique your audience's interest in your product, you'll have to figure out what matters most to them and serve it to them. This is what sets successful brands apart.

Don't make the mistake of assuming you know what your target audience wants, which is a trap many businesses fall into. Rather go ahead do these things:

• Perform in-depth research into your audience
• Develop buyer personas
• Delve into customer data to monitor patterns or trends
• Keep an eye on social media, public forums and industry publications

We get it. You've probably gone through this process during product development. Now you're wondering why it matters during the presentation?

Here's what you should know. Getting access to information is much easier than ever. As a result, potential buyers extensively research products and scan competitors' offerings before making purchases.

So your presentation is an opportunity to demonstrate that you not only understand their pain points, but your products can make their life or business better.

Step 3: Create an Outline

The next step is to outline the main points you want to hit during your presentation.

During presentations, there are usually a lot of key points to cover. Creating an outline helps you ensure things don't fall through the cracks.

First, decide the topics you want to cover and the sequence to present them. Then dedicate a slide to show the outline to your audience. This will give them an idea of what to expect and make your delivery insightful.

The outline we've shared above is an excellent place to start. You can use the template below to organize your ideas in a sequential manner and logical flow.

Step 4: Pick Out the Right Tool and Template

Presenting your product or services is an art. You need a rich blend of visually appealing slides and powerful delivery to make it effective.

Achieving this may require long hours of planning, strategy, design and organization. You'd have to craft an outline, prepare your slide notes, source royalty-free visuals and use them to design your slides.

Pretty tedious, right. Templates and tools come in handy, making your work easier and faster.

Templates reduce the time it takes to make eye-catching and engaging product presentation slides. In addition, they provide direction on how to keep your content organized and impactful.

Most tools are fairly limited in terms of features and how much you can customize them. However, Visme is an exception to this.

Visme's product presentation templates make it super-easy for anyone to create eye-catching product presentations. The tool has a rich library of templates, tools and visual aids to help you present your product to the world with style and poise.

These ready-made templates are not only customizable, but they cut across any product or niche you can think of. All you have to do is input your content and your product presentation is ready to go.

Using templates like the one below is a great starting point.

Step 5: Make Your Content Relevant and Compelling

Creating relevant and convincing content is the key to nailing your product presentation.

The other ideas we've shared will make your content more effective. But an excellent presentation begins and ends with great content. It has the potential to capture the hearts and minds of viewers and connect them with your solution.

Don't just assume you can wing it by putting less effort into developing compelling content. You'll need to spend a lot of time researching, brainstorming and writing out the key points relevant to your audiences.

For example, some customers may care more about product quality than price. On the other hand, convenience and ease of use could be a primary concern for other prospects.

While your presentation should be brief, the value proposition should be at the heart of your sales pitch. You want to focus on how the product will benefit the customer rather than the aesthetics.

Here's an Airbnb-inspired slide template that focuses on product benefits:

Start by describing the world your customers will enjoy after purchase. And be sure to quickly convey what makes your product different.

For instance, the process of buying and installing new equipment can sometimes be tricky and demanding. But it helps companies bring down costs, increase productivity and revenue.

Your content should communicate the problem and what the prospect will enjoy after buying your product. Offering additional perks like pre-purchase and after-sales support can further convince customers to buy.

Step 6: Bring Your Presentation to Life With Attractive Designs

Think about the last time you sat through a dull presentation.

• What were the slide designs like?
• Was the color scheme dull or monotonous?
• Were the visual aids clumsy and difficult to understand?
• Were there too many ideas crammed on each slide?

You probably zoned away during the presentation. Like you, other people feel the same way about terrible slide decks.

The demand for creative and engaging visual content is at an all-time high. Therefore if you're going to attract audience attention, you need stunning product presentation designs like the one below.

Regardless of how amazing the quality of your content may be, a poor slide design can be frustrating to watch.

Not only will it hurt your product presentation, but it could undermine your credibility. So, you want to ensure your slide design is not only professional but has a clean and organized layout.

Here's how to get savvy with your slide design.

• Use legible fonts and stick with a minimum of three fonts throughout your slide deck.
• Avoid using too many colors in your presentation.
• Be sure there's a strong contrast between your text color and background color.
• Tailor your typography, color scheme and visual language to your brand identity .
• Format your text, images and design element to achieve perfection.

Visme templates incorporate eye-catching images, excellent data visualizations and powerful typography to make your slide decks attractive .

Go ahead and watch the video below to learn design tips for creating awesome presentations.

Step 7: Use High-quality Graphics and Visual Aids

Incorporating quality visual aids into your product presentation is a must.

Why does it matter? The thing is, you've put in a lot of time and effort into preparing for your big day. So you certainly don't want your prospects to leave the room recalling only a tiny fraction of what you said.

According to a study, 65% of people are visual learners. So adding stunning visuals in your presentations ensures the odds are stacked in your favor.

No matter the type of audience you're looking to reach. Impactful visuals help you communicate your message and ideas more effectively. Best of all, they grab and retain audience attention, build solid emotional connections and keep your presentation on track.

Avoid using pixelated or cheesy images. Even more, stay away from generic stock art, copyrighted or watermarked visuals available. Rather source top-quality photos that enhance your presentation.

Just like it's important to stick to one main idea per slide, use one or two images per slide. But, again, the key is to use images that convey your message in the most compelling way possible.

Whether you're visualizing financial data or showcasing product features, Visme offers a wide range of visual aids to make your product presentations shine, including:

• Premium and royalty-free images
• Short videos and animations
• Charts and graphs
• Scatter plots

… and much more.

You don't need to entirely create visual product presentations from scratch. Instead, give yourself a head start by using a modern presentation theme like this one.

Step 8: Determine Follow-Up Questions and Provide Answers

At the end of your product presentation, prospects or investors are likely to have a handful of questions about your product.

Typically prospective customers ask questions to know if the product is a right fit for their organization. These questions could be along the lines of:

• Scalability
• Quality assurance
• Ease of use
• After-sales support and more

For example, let's say you've built a digital product like customer relationship management (CRM) software. Prospects could ask questions such as:

• Is your software scalable?
• Will it support our company's growth and future expansion plans?
• How will the tool help us manage our day-to-day process?
• How will the product help our business grow sales, gain a competitive advantage or increase market share?

Most clients could even ask for a live demo or a trial of your software.

Preparing for potential questions will help you avoid getting caught off-guard. It also shows you clearly understand your prospect's needs.

Answering these questions will wow your audience, boost their confidence in your product and help you close the deal.

Step 9: Run It by Your Team and Incorporate Feedback

You've spent time designing your slide and putting your ideas together. Great job. Now your presentation needs a few rounds of edits to make it shine.

Here's how to polish your presentation to make it pop.

• Keep editing aggressively until your presentation is clear and free of fluff. The goal is to improve language accuracy, flow and overall legibility.
• Be sure to weed out anything that doesn't relate to the core message.
• Run it by your mentor and team members, get their feedback and incorporate it into your product presentation.

Getting a fresh pair of eyes to look at your presentation can help you refine it, even if you're a good editor.

Here's the deal. When editing your presentation, your brain could instinctively fill in the gaps with what you wanted to say. But other editors could readily flag errors or point out areas where you aren't expressing your ideas clearly.

Peer editing may seem daunting. But Visme makes it super-easy for you to collaborate with your team. You can share your presentation online with peers. Also, you can download it in HTML5 (with animations) or PDF format and share it via email or other file-sharing platforms.

If you don't have anyone within reach, automated writing assistants like Grammarly and ProWritingAid could come in handy.

Create a stunning presentation in less time

• Hundreds of premade slides available
• Add animation and interactivity to your slides
• Choose from various presentation options

Step 10: Practice Your Presentation

If you want to deliver captivating business presentations , rehearse till you become perfect.

Why does it matter anyway? After all, you've gone through the entire product development process and have a good grasp of the product.

Notable speakers like Steve Jobs and Dr. Jill Bolte-Taylor practiced their speeches many times before delivering speeches before getting on stage. And guess what! They nailed it every single time.

Steve Job's rehearsal routine and his ability to communicate their ideas persuasively drove massive sales for Apple products. It has also played a vital role in the success of the Apple brand.

Rehearsals grow your confidence and make you familiar with the key points. As you rehearse, you have a great opportunity to:

• Weed out the irrelevant points or jargon in your presentations
• Try something new (like a strong opening or pause to play a clip)
• Streamline your presentations for the allotted time

Practice your product presentations between five to ten times before the big day. You can do it alone (facing the mirror) on the first day.

Then you can practice before a small group of friends, family, colleagues. This will enable you to see reactions and get natural human feedback.

While you're at it, make sure to time yourself, record your practice sessions and take notes.

Feel free to enunciate tricky words and pause when you notice mistakes. Be sure to analyze, reanalyze and refine your presentation structure as you proceed.

Go ahead and review the recorded clips and feedback from your practice audience. Once done, you can then incorporate the feedback into your remaining practice sessions.

Remember, you shouldn't read your slide or deliver the presentation just the way you memorize it. The goal of rehearsals is to build enough confidence to:

• Avoid sounding rigid or too rehearsed
• Present your product or services without appearing unprepared
• Take questions and comments from your audience without getting lost or overwhelmed

You can learn more about memorizing your presentation and other practice techniques from the video below.

With the tips we've shared, the stage is set for a flawless product presentation.

But you need much more than perfect content and slide design to nail your product presentation .

What's more? You need to convey your message in a compelling and convincing manner. If your delivery is on point, you are on the right path to profitable sales.

Read on to learn how to deliver product presentations that drive action.

1. Start With a Bang

The beginning of your product presentation is super important. How you begin will determine how the rest of the presentation will go. If you start strong, the chances are that you'll end on a high.

Right off the bat, you need to grab your audience's attention, establish credibility and get them in the mood to listen to you.

Don't waste those precious opening minutes rambling on pointless details. Else they'll switch off and you may struggle to get back their attention.

There are many excellent ways to start your presentations off on the right foot.

• You can tell a captivating story about the circumstance that led you to make the product. If you're rebranding your product, you can talk about how the product has evolved.
• Quote shocking headlines, figures or statistics related to the purpose of your presentation. For example, you could cite statistics from a study or industry report highlighting the need for your product or solution.
• Ask a thought-provoking question that sparks curiosity and articulates the problem. For example, "do you spend too much time tracking inventory, leads or sales?" Or do you struggle to increase conversions for your business?
• Kick-off with a compelling image or video showing customer testimonials, reviews, live videos of customers using your product and much more.

Read on to learn more about starting your presentation on a perfect note.

Give your audience a sneak peek of what to expect from your presentation using the intuitive template below.

2. Tell a Story

Beyond the opening part, it's crucial to tell stories throughout your presentation. It is an excellent way to keep your audience engaged from start to finish.

Storytelling helps your audience connect and remember the main points of your presentation.

For example, you could tell a story about the existing problems in your niche before your product came on the scene.

Another angle could be how your product will change the trajectory of the industry. Using compelling statistics and figures in your storyline can help you build a strong case.

Be sure to use your product pitch as an avenue to convince prospective customers about the superiority of the product or services you're offering.

If you are selling a rebranded or repackaged product, this is your chance to dispel any doubts or false beliefs about your product. Reassure them of the benefits they will enjoy if they buy your product.

Use the template below to share compelling stories that drive interest in your product.

3. Prioritize Your Audience Needs

Your presentation should be designed to meet the needs of your audience. In other words, what benefits will your audience gain from your presentation?

When planning your presentation, make sure it is relevant to your target audience and piques their interest. Find out what your audience needs to know rather than focus on what you feel like telling them.

Customize your slide to address the subjects that are most important to your clients. Then, make your delivery simple enough for your audience to understand and respond.

During your presentation, you should also pay attention to the body language and reactions of your audience. Interpreting their moods and emotions can keep you track and help you achieve your presentation goals.

4. Keep It Short, Simple and Sweet

A product presentation isn't an academic presentation or keynote address. So you're not going to have all the time in the world. And, most of all, no one wants to sit for hours listening to a long presentation.

According to studies, attention levels during presentations dip substantially after 30 minutes.

While delivering your presentation, always remember that you won't have your prospect's time and patience for so long.

So you want to ask: What is the core message for my audience to take away? What's the least amount of time I need to convey the key points concisely?

Guy Kawasaki's 10/20/30 rule says that the ideal presentation should have no more than ten slides, last 20 minutes with a font size of at least 30 points.

Whichever rule you choose, make sure to keep your core message focused and brief. And if what you are planning to say doesn't add value to that core message, leave it out.

5. Maintain the Right Body Language

Body language or non-verbal cues play a critical role in your presentation. It can make all the difference between a successful presentation and a disastrous one.

Here's why. People pay 90% more attention to the tone of voice and body language than the actual words.

This means people don't just pay attention to what you're saying. They notice other non-verbal cues such as eye contact, facial expressions, gestures, postures and body movements. Having the correct body language can help you win over your audience and keep them hooked to your presentation,

Here are a few positive body language tips to help you connect with your audience.

• Wear a genuine smile
• Make every effort to stay relaxed
• Assume a power pose during your presentation
• Demonstrate your individuality, passion and interest in the subject
• Maintain eye contact with individual members of the audience
• Speak clearly and make your voice a little louder than you believe it should be
• Make use of the space and Interact with your audience as you move around the stage
• Don't speak too fast, but also don't speak too slowly
• Use occasional arm movements
• Don't slouch or lean over the podium
• Remember to breathe and take occasional pauses in-between speeches

Lastly, be confident in your ability. People won't trust anything you have to say if you don't sound authentic.

You've put in so much work to develop a great product. Don't lose your enthusiasm when you stand before your audience.

Do your best to speak about it from the heart. Doing this will leave a positive impression on your audience and inspire trust in your product.

6. Invite Questions From Your Audience

After your presentation, thank your audience for listening. You can further improve engagement by inviting your audience to ask questions.

Listen to the questions carefully and provide clear-cut answers. If you don't understand the question, feel free to ask for more clarification. Be honest with your audience and don't make promises you can't deliver.

7. Leave a Lasting Impression

Ending your presentation poorly can sabotage all the efforts you've put in so far. Hence the need to conclude your presentation on a high.

Your conclusion should summarize the major points of the presentation. It should also leave a memorable impression in the minds of your audience and encourage them to take action.

There are many viable ways to create a memorable conclusion.

• You could reiterate the important points, such as your product benefits and unique value proposition.
• This could be an excellent opportunity to share compelling reviews and testimonials about your product. If your product has earned awards, recognitions and notable features, be sure to showcase it.
• Close with a story that refers back to the opening message.
• End with an interesting question you asked at the beginning of your presentation.
• Highlight compelling figures and case studies about your product.

For example, you could mention that your software has helped company A increase productivity and sales by 55%.

On a more practical note, imagine you offer on-demand delivery services. You could mention that your product has helped improve access to delivery services and cut down delivery expenses for more than 200,000 customers. Then go ahead and highlight how your prospects can enjoy these benefits too.

Make sure to add a clear and compelling call to action. Let them know what you expect from them and the next steps. For example, you could ask prospects to purchase a premium version of the software or buy a year's supply of your product.

Read this article to learn powerful and stylish ways to end your presentation .

Make Your Product Presentation Shine with Visme

There's no denying that crafting incredible product presentations can up your chances of closing more deals and driving sales for your product. In addition, it offers you a fantastic opportunity to pitch your product benefits and what sets you apart from competitors.

Now, you have some valuable tips to make your next product presentation successful. Make it a powerful and memorable one with these top-notch product presentation templates from Visme.

Looking to present your product to prospective clients and skyrocket sales? Visme has got your back. Our presentation software offers everything you need to create stunning slide decks.

Create beautiful presentations faster with Visme.

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About the Author

Unenabasi is a content expert with many years of experience in digital marketing, business development, and strategy. He loves to help brands tell stories that drive engagement, growth, and competitive advantage. He’s adept at creating compelling content on lifestyle, marketing, business, e-commerce, and technology. When he’s not taking the content world by storm, Unenabasi enjoys playing or watching soccer.

Free Product Strategy Templates With Examples

By Joe Weller | February 24, 2024

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A product strategy outlines the product’s future and the plan for how to get there. We’ve collected the most helpful free product strategy templates for product leaders, managers, and strategists for building an effective product strategy.

Included on this page, you’ll find a  product strategy PowerPoint template , a  product strategy template , a  product strategy worksheet , and more. Plus, learn  what to include in a product strategy template , and download related  product strategy templates .

Product Strategy Document Template

Download a Sample Product Strategy Document Template for 

Microsoft Word | Adobe PDF

Download a Blank Product Strategy Document Template for 

Microsoft Word | Adobe PDF  

When to Use This Template:  This template is ideal for B2C companies that need to define a product strategy for any tangible or digital product. Download the version with sample copy for helpful pointers on crafting a product strategy.

Notable Template Features: This template focuses on actionable and measurable problem-solving. Include your vision statement, business objective, target customer, and unique selling proposition to lay the foundation for goal setting. Then, describe the product objectives, metrics, and tactics in the appropriate sections to create an organized list of product goals and strategies.

PowerPoint Product Strategy Template

Download the Sample Product Strategy Template for PowerPoint

Download the Blank Product Strategy Template for PowerPoint

When to Use This Template:  This single slide template is ideal for product managers who need to present a clear and visually appealing product strategy. Download the version with sample copy for guidance on what to include for delivering an effective product strategy. 

Notable Template Features: This template features customizable strategy themes that support the product vision. Fill in each theme and include a brief description to communicate the product strategy to your team.

Product Strategy Template

Download a Sample Product Strategy Template for 

Download a Blank Product Strategy Template for 

When to Use This Template:  Product leaders can use this product strategy template to document and report key results from product strategy objectives. Download the version with sample copy to serve as a reference for completing each section. 

Notable Template Features: This template guides you through crafting a product strategy in a narrative format. Start by describing your company's background, outlining the vision for your product, and setting both business and product-specific objectives. Then, identify key results to measure progress toward these objectives. This template features a Lean Canvas, a strategic diagram that helps visually represent a product from the initial idea to development. 

Product Strategy Worksheet Template

Download the Sample Product Strategy Worksheet Template for

Excel | Microsoft Word | Adobe PDF

Download the Blank Product Strategy Worksheet Template for

When to Use This Template:  Product managers can use this template with or without sample data to develop their overall strategy. The template features the foundational elements of a product strategy so that managers can streamline the strategic process and ensure all key aspects are considered.

Notable Template Features: This template focuses on the target customer, identifying growth strategies and highlighting what sets your product apart from competitors. Fill in information about who your target customers are, your plans for scaling, and how your product differentiates itself in the market to create a straightforward but comprehensive product strategy.

Product Strategy Canvas Template

Download a Sample Product Strategy Canvas Template for

PowerPoint | Google Slides  

Download a Blank Product Strategy Canvas Template for

When to Use This Template: Use this template with or without sample data when your product team needs a one-page, high-level view of a product strategy. The product strategy canvas is a great tool for visualizing the connections between various elements of product strategy. 

Notable Template Features: This template allows managers to illustrate how key product strategy elements reinforce one another and to build a foundation for product development. It includes sections for describing the product vision, trade-offs, resources and systems, growth plan, and more.

What Is Included in a Product Strategy Template

Whether you're launching a new product or improving an existing one, incorporating all the key elements of a product strategy is essential. A product strategy template should clearly outline how the product will benefit its target customer, stand apart from competitors, and drive revenue.   

• Google: Provide access to the world's information in one click.
• LinkedIn:  Create economic opportunity for every member of the global workforce.  
• Business Goals:  Business goals are high-level goals that explain what the business aims to achieve within a specific timeframe. Including business goals in your product strategy guarantees alignment across all departments, teams, and stakeholders.  
• Target Customers: Target customers are the specific people that the product will benefit and serve. Your product solves a particular problem for them, so it’s vital to understand and document their values, behaviors, and needs.  
• Product Goals: Product goals detail what the product will achieve. They support the product vision, limit distractions, and keep the product strategy moving forward. List the goals that your product aims to achieve within a specific timeframe, and make sure they align with the business goals.   
• Market Analysis:  A market analysis includes data about your target audience’s needs, the size of the market, trends, growth areas, and how your product fits in the current marketplace. It provides valuable insights that aid in product strategy decision-making.   
• Competitor Analysis:  A competitive analysis compares your product’s features, pricing, packaging, strengths, weaknesses, and users to the competitors’. This information helps you identify how you can stand out or beat the competition.   
• Unique Selling Proposition:  The unique selling proposition (USP) is what makes your product or service better than its competitors. This can include product benefits, features, design, price, quality, or customer service.Identifying a USP communicates a specific benefit and why customers should buy from you rather than the competition. For example, the USP for TOMS is that one-third of its profits fund cash grants and partnerships with community organizations.  
• Metrics:  Use metrics for tracking and measuring the success of your product goals. Metrics are also useful for future decision-making because their data highlights which goals were met and which fell short.

Product Strategy Related Templates

A product strategy template helps managers define their product objectives and craft a plan for achieving them. Check out these related customizable product strategy templates to help you conduct a thorough analysis of every aspect vital to your product’s success.

Product Roadmap Templates

Use a  product roadmap template for tracking product strategy deliverables, timelines, and milestones.

Product Marketing Brief Templates

Use this   product marketing brief template to provide the team and stakeholders with a summary of the product marketing plan.

Product Launch Plan Templates

Use a  product launch template to introduce your product to the market in an organized, strategic way.

Go-to-Market Strategy and Planning Templates

Use a  go-to-market strategy template to streamline a campaign strategy and engage your target market.

Competitor Analysis Templates

Use a  competitor analysis template to capture details about your competitors and learn how you can better serve your target market.

Customer Profile Templates

Use a  customer profile template to detail specific data — such as demographics, psychographics, and behaviors — about your target customer.

Persona Templates

Learn  how to create a buyer persona that describes exactly who wants your product or service and how to market to them effectively.

Product Vision Board Templates

Use a  product vision board template as a tool to describe your product’s vision and strategy.

Product Positioning Template

Use this  product positioning template to describe the solutions your product offers for your target customers.

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• Product management
• Product strategy
• How to set product strategy

How to set product strategy + examples and templates

Last updated: March 2024

The best products start with a clear strategy that is customer and market driven. And the technology builders know how to make each unique stakeholder feel a sense of higher purpose. Brian de Haaff Aha! co-founder and CEO

Who are your customers? What problems will your product solve? What opportunities and threats do you face? What will you do differently? How will you stand out in a crowded market?

Product strategy defines what you want to achieve and how you plan to get there. It defines the "why" behind the product. Strategy happens before you dive into the detailed work of building your product roadmap and developing new features — what we call the "what," "when," and "how."

A goal-first approach is a product manager's best path towards innovation. Strategy aligns the organization around a shared vision and keeps everyone focused on the work that matters most. It should connect every piece of work the team completes — guiding both the large themes of work and the smaller details.

Set product strategy with Aha! Roadmaps. Sign up for a free trial .

You might think you know what goes into a product strategy. You might even think you know how to set a winning product strategy. But strategy is the thorniest and most misunderstood aspect of product development. If you have been a product manager for some time then you know how many teams are busily working and building against flimsy product strategy. (If there is one at all.)

We all know how important product strategy is to delivering successful products. Yet perfecting a product strategy in practice is really challenging. There is no magic wand or secret sauce, but there are best practices that you can follow to make it easier. This guide gives you an overview of the basic concepts, tips and how-to advice on setting product strategy, along with a bevy of templates for moving forward with purpose:

What is product strategy?

Why is product strategy important, what are the challenges of product strategy, what goes into a product strategy, what are examples of successful product strategies.

What are some tips for setting product strategy?

Product strategy templates

Product strategy outlines how a product will support company strategy and business goals. Product strategy serves as a guide for the team planning , developing, and taking a product from concept through to market release. Product strategy is made visual through a product roadmap .

In the graphic below, you can see the artifacts that product development teams rely on to deliver against the product strategy and ultimately to support the higher-level business strategy.

Vision vs. mission vs. strategy

Product strategy vs. go-to-market strategy

Product strategy vs. marketing strategy

Product development is an adventure. And like most adventures, it is full of risk. Timing and ambiguity are two of the greatest threats — neither of which can be fully controlled. Unforeseen circumstances (everything from external factors like economic conditions to internal challenges such as team changes ) can directly impact your product’s success. Lack of depth in understanding customers needs, the competitive landscape , and technical feasibility can stunt progress and in some cases lead to failure.

This is why product strategy is so important. Doom and gloom aside, product strategy gives people clarity about what they are working towards and why. Product strategy can be a rallying cry that bonds and motivates the team. It enables folks to make better decisions faster and prioritize features that will deliver the most value.

Product strategy is the foundation of product development. Setting product strategy enables you to:

Align around goals

Chart the way forward

Prioritize the right work

Stay focused and agile

Deliver what users need

Create value for customers and the business

Strategy is an adaptation to achieve success. It explains why a company will compete in a certain market and how what it delivers will be better than any other company in that market at serving customers. In today’s fast-changing markets, a strong product strategy allows you to stay nimble and responsive to change without veering off course.

Set the strategy that you think is right

• The Aha! Framework for product development

Understanding the difference between the strategic planning process, strategy, and the plan itself is essential for all product builders who want to avoid the planning trap and instead build meaningful solutions to real customer problems. Brian de Haaff Aha! co-founder and CEO

Many teams conflate a product plan with a product strategy. Because product development is dynamic and unpredictable, folks tend to jump straight to pulling together a list of ideas or activities that seem to align with a loose set of goals. You believe you can implement that list with the resources you have available and are then lulled into a false sense of strategy.

What product strategy is not:

Vision and mission: The company (or product) vision and mission are foundational components of a strategy

Metrics: KPIs give a sense of how you are tracking against product goals, which in turn are a component of your product strategy

Budget: Financial resources enable (or constrain) your ability to deliver against the product strategy

Ideas: Creative concepts and requests for enhancements can support innovation if they align with the product strategy

Features: Individual features (or even a collection of functionality) are one way that you might achieve the product strategy

Roadmaps: Roadmaps visualize the product strategy and offer a timeline for implementation and delivery

Launch plans: A list of activities that a cross-functional team will complete as part of releasing new functionality to market

People fall into the trap of thinking that the plan for how they will build something new is itself a product strategy. This is especially common in early-stage companies or on teams lacking in strong product leadership. Product plans are certainly critical to product development. Vision, goals, ideas, and tactics are necessary too — but none are actually a product strategy.

Related: Why strategic thinking is so hard for product managers

Executives and product leaders typically collaborate to define the product vision and determine how your product will serve a specific customer segment . The exploration phase of setting a product strategy often involves competitive analysis, vetting different business models , and creating product positioning . This needs to happen before any detailed product roadmap work begins.

The team at Aha! are all product development experts. Collectively we have hundreds of years experience planning, building, and launching new offerings. We put all of that knowledge into our own software suite . Those learnings informed how we structure product strategy in Aha! Roadmaps .

Our major areas of focus for product strategy are organized into three categories — foundation, market, and imperatives. The sections below reveal the mindset that a product manager should be in when developing a product strategy, along with best practices, tools, and tactics you can use during the process.

Foundation: What you want to achieve

You seek to understand the market context you operate in, are able to define why your offering is superior, and can identify growth opportunities.

Vision: Represents the core essence of your product and what makes it unique. It should be something that everyone in the company deeply understands — the "why" behind the product you are all responsible for.

Business models: Models are useful when you launch a new product or want to evolve your strategy as the market changes. There are many types of business models — including lean canvas , Porter's 5 forces , and the 10Ps marketing matrix .

Positioning: Define where your product fits in the marketplace and the unique benefits you provide. Strong positioning supports your marketing strategy , brand storytelling, and all content developed for customers.

Market: Who you will serve

You are curious about who your customers are, can empathize with the problems they have, and are familiar with any alternatives to your offering.

Personas: Fictional characters bring your customers to life. Creating user personas is one way to develop empathy for your customers — you document their likes and dislikes, professional aspirations, challenges, and more.

Competitive analysis: Understand where your offering excels and falls short compared to other solutions in the marketplace. Doing this type of research provides insights into where you fit within the broader market and what opportunities might prove most valuable for your customers and the business.

Imperatives: What you will accomplish

You set time-bound and specific goals and identify initiatives that will help you achieve your strategy.

Goals: These are benchmarks that you want to achieve in the next quarter, year, or 18 months. A useful exercise to identify the most impactful goals is to plot out potentials on a chart based on the investment needed (from your team) and the impact (to your customers) .

Initiatives: High-level efforts or big themes of work that need to be implemented to achieve your goals. These strategic initiatives link your goals to everything planned on your product roadmap.

A note about goals...

Defining goals and initiatives is typically done towards the end of setting product strategy. With all of the information that you have gathered and reviewed during that process, it can be tempting to choose many goals and many initiatives. You want to make everyone happy, right?

A product that serves everyone actually serves no one. Too many strategic imperatives will confuse the team and lead to muddy decision-making. So you want to be shrewd when selecting goals and initiatives — fewer, specific objectives will make it easier to select features that will make a real impact. If you use Aha! software, this record map template can help you visualize how these strategy pieces fit together.

When we think of successful product strategies the same examples pop up over and over. In the software space, these are the household name brands and challenger startups that most of us are familiar with: Apple, Airbnb, Google, Microsoft, Netflix, Spotify, Uber. Let’s add a few newcomers to the whack-a-mole software pile — put ChatGPT, Tiktok, and even Meta's latest launch, Threads, on the list too.

We could approach each of these example technology companies as having special stories and explore the product strategies that helped them ascend. But that would make this a very, very long article. And you would quickly realize that the individual companies are not doing anything unique. Instead they are employing a proven product strategy in an effective way.

There are a few core categories when it comes to product strategy — cost, quality, technology, service, and speed to market. You may choose one or several for your own product, but typically not all. When reading through the table below, consider what you are working on now. Which strategy makes the most sense for your product?

What about differentiation?

If you have worked in product development for a while you might be wondering if we missed the “differentiation strategy.” Keen eye, but no — this is an intentional omission. The strategies above are all ways that you show why your product is different and worthy of a customer’s purchase. You cannot have a differentiation strategy, when the goal of any product strategy is to differentiate in a meaningful way.

What are some tips for setting strategy?

The following 10 tips can serve as a touchstone for any product manager when setting strategy:

Do your research: Take the time to do the analysis needed to inform your product strategy, from persona work to SWOT to evaluating the market landscape .

Know your target audience: Never underestimate the power of knowing and empathizing with your customers and embrace every opportunity to deepen that knowledge.

Avoid comparisons: Do your competitive research but fend off temptations to directly compare your product one-to-one or vet opportunities against what others offer (do not let another company’s product strategy rule yours).

Be aware of weaknesses: Understand the areas where you, your team, and your product could improve.

Limit goals and initiatives: Select only three to five product goals for a given time period to prevent dilution of your efforts.

Communicate effectively with stakeholders: Make sure you can succinctly articulate the value of what you want to achieve and can translate it for different audiences .

Foster a culture of innovation: Encourage the broader product development team to use the product strategy as inspiration for their own creativity.

Embrace an agile mindset: Allow your product strategy to say “yes” or “no” to prospective features, sidestep pet projects or one-off requests that do not align, and move quickly to pursue work that does.

Keep the roadmap updated: Ensure that your roadmap shows the most recent work and reflects how that work supports the product strategy.

Continuously monitor and evaluate: Be diligent about reviewing what you have identified as supporting your product strategy, from the moment you prioritize a feature to how it performs once you release it to market.

Setting your product strategy is just the beginning. Product development is most effective when product strategy is an integral and dynamic part of the process — the lens through which all decisions are viewed.

Maybe you should rethink that "game-changing" new AI feature

What is a Minimum Lovable Product?

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Product development teams vary in terms of sophistication, maturity, and needs. (So do products for that matter.) In extremely early-stage companies where there might not be a product yet, you might be able to make do with researching, defining, and documenting your product strategy in Excel or PowerPoint. These tools were not built for strategy or product work though — over time you will begin to get frustrated with the limitation of using spreadsheets and presentations.

As you and your team grow in experience (or if you are already working on a complex product), you will want to choose a purpose-built tool. Integrated product development software offers all of the functionality you need to not only set strategy, but link it to active work in a dynamic way. You can prioritize features, build beautiful product roadmaps, and report on the value you delivered all in one place.

Integrated tools for product strategy

Aha! software includes everything you need to imagine, plan, build, and deliver lovable software.

Aha! templates

Guided templates in Aha! software help you capture your thoughts and collaborate with the team. Some of the most popular that product managers use to set strategy are:

Business model template

Competitive analysis template

Customer interview template

Customer research plan template

Customer journey map template

Lean canvas template

Market requirements document (MRD) template

Mind map template

Persona template

Porter’s 5 forces template

Pros and cons template

Segment profile template

• SWOT analysis

Free Excel and PowerPoint downloads

Business plan templates

Competitor analysis templates

Product positioning templates

SWOT analysis templates

Product strategy is ongoing. Budgets, tools, and the market will change. Each shift can prompt changes in your overall strategy — adjusting plans, removing fruitless efforts, and exploring new opportunities.

• The activities in The Aha! Framework
• What is a business model?
• What is customer experience?
• What is the Complete Product Experience (CPE)?
• What is a customer journey map?
• What is product-led growth?
• What are the types of business transformation?
• What is enterprise transformation?
• What is digital transformation?
• What is the role of product management in enterprise transformation?
• What is a Minimum Viable Product (MVP)?
• What is a Minimum Lovable Product (MLP)?
• What is product vision?
• What is product-market fit?
• What is product differentiation?
• How to position your product
• How to price your product
• What are product goals and initiatives?
• How to set product goals
• How to set product initiatives
• What is product value?
• Introduction to marketing strategy
• Introduction to marketing templates
• What is a marketing strategy?
• How to set marketing goals
• Marketing vs. advertising
• What is a creative brief?
• How to define buyer personas
• Understanding the buyer's journey
• What is competitive differentiation?
• 10Ps marketing matrix
• 2x2 prioritization matrix
• Business model
• Customer journey map
• Decision log
• Decision tree
• Fit gap analysis
• Gap analysis
• Lean canvas
• Marketing strategy
• MoSCoW model
• Opportunity canvas
• Porter's 5 forces
• Pricing and packaging research
• Pricing plan chart
• Pricing strategies (Kotler)
• Product positioning
• Product vision
• SAFe® framework
• Scrum framework
• Segment profile
• SMART goals
• Strategic roadmap
• Strategy mountain
• The Aha! Framework
• Value proposition
• VMOST analysis
• Working backwards
• Collections: Business model
• Collections: SWOT
• Collections: Objectives and key results (OKR)
• Collections: Product positioning
• Collections: Market positioning
• Collections: Marketing strategy
• Collections: Marketing messaging
• What is product discovery?
• How to do market research
• How to define customer personas
• How to research competitors
• How to gather customer feedback
• Asking the right questions to drive innovation
• Approaches table
• Competitive analysis
• Customer empathy map
• Customer interview
• Customer research plan
• PESTLE analysis
• Problem framing
• Product comparison chart
• Pros and cons
• Target audience
• Collections: Customer research
• Collections: Competitor analysis
• Collections: Marketing competitor analysis
• How to brainstorm product ideas
• Brainstorming techniques for product builders
• Why product teams need an internal knowledge hub
• Why product teams need virtual whiteboard software
• How to use an online whiteboard in product management
• What is idea management?
• 4 steps for product ideation
• How to estimate the value of new product ideas
• How to prioritize product ideas
• What is idea management software?
• Introduction to marketing idea management
• How to gather marketing feedback from teammates
• Brainstorming new marketing ideas
• How to estimate the value of new marketing ideas
• Brainstorming meeting
• Brainstorming session
• Concept map
• Data flow diagram
• Fishbone diagram
• Ideas portal guide
• Jobs to be done
• Process flow diagram
• Proof of concept
• Sticky note pack
• User story map
• Workflow diagram
• Roadmapping: Your starter guide
• Agile roadmap
• Business roadmap
• Features roadmap
• Innovation roadmap
• Marketing roadmap
• Product roadmap
• Product portfolio roadmap
• Project roadmap
• Strategy roadmap
• Technology roadmap
• How to choose a product roadmap tool
• How to build a brilliant roadmap
• What to include on your product roadmap
• How to visualize data on your product roadmap
• What milestones should be included on a roadmap?
• How often should roadmap planning happen?
• How to build a roadmap for a new product
• 3 starter roadmap examples on a whiteboard
• How to build an annual product roadmap
• How to customize the right roadmap for your audience
• Product roadmap examples
• How to report on progress against your roadmap
• How to communicate your product roadmap to customers
• What is a content marketing roadmap?
• What is a digital marketing roadmap?
• What is an integrated marketing roadmap?
• What is a go-to-market roadmap?
• What is a portfolio marketing roadmap?
• How to choose a marketing roadmap tool
• Epics roadmap
• Now, Next, Later roadmap
• Portfolio roadmap
• Release roadmap
• Collections: Product roadmap
• Collections: Product roadmap presentation
• Collections: Marketing roadmap
• What is product planning?
• How to diagram product use cases
• How product managers use Gantt charts
• How to use a digital whiteboard for product planning
• Introduction to release management
• How to plan product releases across teams
• What is a product backlog?
• Product backlog vs. release backlog vs. sprint backlog
• How to refine the product backlog
• Capacity planning for product managers
• What is requirements management?
• What is a market requirements document (MRD)?
• How to manage your product requirements document (PRD)
• What is a product feature?
• What is user story mapping?
• How to prioritize product features
• Common product prioritization frameworks
• JTBD prioritization framework
• Introduction to marketing plans
• What is a marketing plan?
• How to create a marketing plan
• What is a digital marketing plan?
• What is a content marketing plan?
• Why is content marketing important?
• What is a social media plan?
• How to create a marketing budget
• 2023 monthly calendar
• 2024 monthly calendar
• Feature requirement
• Kanban board
• Market requirements document
• Problem statement
• Product requirements document
• SAFe® Program board
• Stakeholder analysis
• Stakeholder map
• Timeline diagram
• Collections: Product development process
• Collections: MRD
• Collections: PRD
• Collections: Gantt chart
• Collections: User story
• Collections: User story mapping
• Collections: Feature definition checklist
• Collections: Feature prioritization templates
• Collections: Marketing plan templates
• Collections: Marketing calendar templates
• Product design basics
• What is user experience design?
• What is the role of a UX designer?
• What is the role of a UX manager?
• How to use a wireframe in product management
• Wireframe vs. mockup vs. prototype
• 18 expert tips for wireframing
• Analytics dashboard wireframe
• Product homepage wireframe
• Signup wireframe
• Collections: Creative brief
• Common product development methodologies
• Common agile development methodologies
• What is agile product management?
• What is agile software development?
• What is agile project management?
• What is the role of a software engineer?
• What is waterfall product management?
• What is agile transformation?
• Agile vs. lean
• Agile vs. waterfall
• What is an agile roadmap?
• What is an agile retrospective?
• Best practices of agile development teams
• What is a burndown chart?
• What is issue tracking?
• What is unit testing?
• Introduction to agile metrics
• Agile dictionary
• What is kanban?
• How development teams implement kanban
• How is kanban used by product managers?
• How to set up a kanban board
• Kanban vs. scrum
• What is scrum?
• What are scrum roles?
• What is a scrum master?
• What is the role of a product manager in scrum?
• What is a sprint?
• What is a sprint planning meeting?
• What is a daily standup?
• What is a sprint review?
• Product release vs. sprint in scrum
• Themes, epics, stories, and tasks
• How to implement scrum
• How to choose a scrum certification
• What is the Scaled Agile Framework®?
• What is the role of a SAFe® product manager?
• What is PI planning?
• How to run a PI planning event
• SAFe® PI planning
• SAFe® PI retrospective
• SAFe® Sprint planning
• Sprint planning
• Sprint retrospective
• Sprint retrospective meeting
• UML class diagram
• Collections: Sprint retrospective
• How to test your product before launch
• What is a go-to-market strategy?
• How to write excellent release notes
• How to plan a marketing launch
• Knowledge base article
• Product launch plan
• Product updates
• Release notes
• Collections: Product launch checklist
• Collections: Marketing launch checklist
• How to make data-driven product decisions
• How to measure product value
• What is product analytics?
• What are product metrics?
• What is a product?
• What is a product portfolio?
• What is product development?
• What is product management?
• What is the role of a product manager?
• What is portfolio product management?
• What is program management?
• What is product operations?
• What are the stages of product development?
• What is the product lifecycle?
• What is a product management maturity model?
• What is product development software?
• How to build a product wiki
• What to include in an internal product documentation hub
• What is product documentation?
• How to build a customer support knowledge base
• Use cases for knowledge base software
• Introduction to marketing methods
• What is agile marketing?
• What is digital marketing?
• What is product marketing?
• What is social media marketing?
• What is B2B marketing?
• Collections: Product management
• How to structure your product team meeting
• 15 tips for running effective product team meetings
• Daily standup meeting
• Meeting agenda
• Meeting notes
• Product backlog refinement meeting
• Product feature kickoff meeting
• Product operations meeting
• Product strategy meeting
• Sprint planning meeting
• What are the types of product managers?
• 10 skills to succeed as a product manager
• Common product management job titles
• What does a product manager do each day?
• What is the role of a product operations manager?
• What is the role of a program manager?
• Templates for program and portfolio management
• How to become a product manager
• How to prepare for a product manager interview
• Interview questions for product managers
• Typical salary for product managers
• Tips for new product managers
• How to choose a product management certification
• Introduction to marketing
• What are some marketing job titles?
• What is the role of a marketing manager?
• What is the role of a product marketing manager?
• How are marketing teams organized?
• Which tools do marketers use?
• Interview questions for marketing managers
• Typical salary for marketing managers
• How to make a career switch into marketing
• Job interview
• Negotiating an offer
• Product manager resume
• Collections: Product manager resume
• How to structure your product development team
• Best practices for managing a product development team
• Which tools do product managers use?
• How to streamline your product management tools
• Tips for effective collaboration between product managers and engineers
• How do product managers work with other teams?
• How product managers achieve stakeholder alignment
• How to complete a stakeholder mapping exercise
• Aha! record map
• Creative brief
• Marketing calendar
• Organizational chart
• Presentation slides
• Process improvement
• Collections: Product management meeting
• Collections: Diagrams, flowcharts for product teams
• Collections: Whiteboarding
• Collections: Templates to run product meetings
• Product development definitions
• Marketing definitions

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Product Strategy Framework

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You can't outwork a poor product launch into a success. But a good product strategy can help you determine successful products that will shine in your market's competitive landscape. Use our Product Strategy Framework deck to improve your current product strategy, better communicate your vision, and organize cross-functional collaborations that align everyone towards a common goal.

Questions and answers

How does this product strategy framework compare to other business strategy frameworks?

This product strategy framework is specifically designed to help businesses identify their unique position in the competitive landscape and build products that set them apart. Unlike general business strategy frameworks, it focuses on product development and launch. It provides guidance on improving current product strategies, better communicating the vision, and organizing cross-functional collaborations towards a common goal. It's a more specialized approach compared to broader business strategy frameworks.

Are there any case studies that demonstrate the effectiveness of this product strategy framework?

While the content provided does not specifically mention any case studies, the effectiveness of a product strategy framework can often be demonstrated through its successful application in real-world scenarios. These might include the launch of a new product, a significant increase in market share, or a notable improvement in customer satisfaction. However, without specific examples or case studies mentioned in the content, it's difficult to provide a more detailed answer.

Slide highlights

This 1-Page Product Strategy Framework slide simplifies the product strategy process. Answer core questions about your customer, product, company, and competition. Define key success metrics like customer retention, product reach, go-to-market viability, and brand power.

Use the Product Strategy Canvas to map your product vision with user personas, user journeys, and user stories. Detail your product's implementation constraints, design wireframes, and potential in a brief format. Present your data in a simple way that communicates key value.

Outline your key product strategies and show how much progress you've made on each with this 5-step Product Strategies slide. Measure viability and define the tactics needed to put the plan into action.

Every product's success or failure rests on the choices made in its development. A goal-first approach from a solid product strategy guides successful development, defines what your product is supposed to achieve, builds context around your market, and aligns your entire team behind a shared vision.

How does a product strategy framework enhance a business's competitive position in the market?

A product strategy framework enhances a business's competitive position in the market by providing a clear roadmap for product development. It helps in defining the product's purpose, understanding the market context, and aligning the entire team towards a shared vision. This goal-first approach ensures that the product is developed with a clear focus on what it is supposed to achieve, thereby setting the business apart in the competitive landscape.

Are there any case studies that demonstrate the effectiveness of a product strategy framework?

Yes, there are numerous case studies that demonstrate the effectiveness of a product strategy framework. Companies like Apple, Google, and Amazon have used product strategy frameworks to guide their product development and achieve market success. These case studies show how a clear product strategy can help align the team, define the product's goals, and set the product apart in the competitive landscape.

This presentation helps hone the focus and communicate the vision to analyze the success and viability of a product or new feature before you actually develop it. From there, it's all about execution.

Application

• Align product objectives: First, align your team on the initiatives and themes of your product. Focus on your company's overall goals and high-level priorities.
• Define project strategy: Outline the goals for your product and start with your vision, followed by the key performance indicators that will determine success, followed by a product roadmap.
• Use data to prioritize features: Use customer personas to determine the best features for user needs, allocate resources to modify products, and invest in new products.
• Canvas to create excellence: Define your product's market, price, competitors, differentiators, strengths and weaknesses, sustainable advantages, and risks.
• Voice the vision: Determine the time frame and measurable objectives, then quantify and analyze your current conditions to meet your vision statement's goal.
• Roadmap to success: Use Product Roadmaps to guide your product strategy through a full year's worth of planning across multiple milestones and long-term growth strategies.

With a solid product strategy (and beautifully rendered slides to visualize and align your team) you should have everything you need to execute a successful product launch.