PRODUCTCORE

What is Digital Product Innovation?

Product innovation is the process of leveraging creativity and technology to accomplish what was previously deemed impossible.

At its core, it's about addressing the unmet needs of consumers by tapping into the potential of emerging technologies not yet embraced by the mass market.

The primary role of a product innovation team is to bridge this gap.

They focus on the peripheries, identifying those unmet consumer needs and the nascent technologies that can address them. By bringing these insights and technologies from the fringes to the mainstream, they facilitate their evolution, making them scalable and market-ready. This transition from edge to center embodies the essence of achieving product-market fit, ensuring that innovations are not just novel but also valuable and in demand.

Below are some of the topics for which we provide consulting and workshops to enterprises just getting into product operations as well as those who want to dive deeper into specific subjects.

ProdOps: The Engine of Product Innovation

DevOps focuses on optimizing the software development lifecycle by bridging the gap between development and IT operations, ensuring rapid and reliable software delivery (build the product right). In contrast, ProdOps (Product Operations) emphasizes the end-to-end product lifecycle , streamlining collaboration between product teams, stakeholders, and customers to maximize product value and user satisfaction (build the right product). When DevOps' rapid and reliable software delivery aligns with ProdOps' holistic product lifecycle approach, organizations achieve enhanced innovation and user satisfaction and faster time-to-market. Clear frameworks and toolsets, the right measures, and a unifed and trained team with shared objectives ensures that strategy, design, development, deployment, and feedback processes seamlessly intertwine.

The Power of the Product Mindset

In a world that is rapidly evolving, companies need to shift from focusing on delivering projects to creating and managing products. The product mindset fosters an understanding of customers' needs, interests, and pain points by using data to drive decisions.

It's a framework that aims at creating a sustained customer value proposition by constantly evolving the product based on user feedback and data, thereby resulting in customer loyalty and long-term profitability. Consulting firms and agencies that provide services to their clients involving improving or managing their online products need equally to approach digital products with this mindset.

Product vs. Project

The key difference between a product and a project lies in their overall objectives and longevity. Projects are temporary, with a defined beginning and end, aimed at delivering a specific outcome. There is nothing wrong with this in the right context.
Products, on the other hand, are ongoing, with a focus on the continuous delivery of value to customers. Embracing the product over the project mindset encourages a committment to fast and small releases, a focus on user needs, and continual adjustment based on feedback and market changes. It means the end to linear software development approaches, both as a process and as a mindset in digital businesses.

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Digital Product Managers as Change Agent

Digital Product Management (DPM) serves as a critical change agent in an organization. DPMs wear many hats: strategists, advocates, negotiators, and analysts, to name a few. They drive the product vision, collaborate cross-functionally, and ensure alignment between business goals and customer needs. DPMs are instrumental in promoting a product-oriented culture within the organization, fostering a constant cycle of ideation, execution, evaluation, and iteration.

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Product-Led Growth & Digital Transformation

Product-Led Growth (PLG) is a go-to-market strategy that puts the product at the heart of the company.
Instead of relying heavily on traditional sales or marketing tactics, PLG businesses focus on creating an excellent product experience to drive customer acquisition, conversion, and expansion. This approach, which can be combined with the traditional business funnel, leverages the product to create a scalable business model that generates rapid growth.

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Organize around Product

Organizing around product, rather than projects or functions, aligns the entire organization around customer value delivery. Cross-functional teams centered around products enable faster decision-making, improve communication, and increase flexibility. This alignment facilitates a more efficient response to market shifts, bolsters innovation, and ultimately drives better business outcomes.

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Analytics and Performance Measurement

As obvious as the importance of analytics and performance management may seem, making it happen and doing it well takes a strong strategy, determination, the ability to manage stakeholders who may not want to be measured, and the right communication channels to make it successful. It is extraordinarily common for analtyics groups or departments to be silos, and not the driver they should be. Analytics in Product ranges from setting the right Business and Customer Goals, to building product KPIs that support them, to socializing the metrics across the organization and not leaving them at the exectutive level, to a committment to ongoing displine in this area. It can look daunting but with the right methodologies and training, the "Measure" in "Build-Measure-Learn" is at the heart of your innovation strategy.

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The Productcore End-to-End Framework for the Product Organization

Decades of experience watching successful and unsuccessful products and company cultures, Productcore has developed a full-service framework and methodology for both leadership teams and agile teams. We have experience building products for clients across industries, and understand both direct to consumer products as well as the special challenges facing companies who have partners who are core to their business model. Our blueprint combines a product-centric mindset, customer centricity and innovation, integrated learning cycles, a predictable delivery cadence, and integrated analytics management. Based on dual track (discovery and delivery) agile teams supported by strong and informed leadership, our framework can help your organization move to the next level of digital transformation.

Contact Us to Create a Workshop Tailored to your Organization.