Contents · 4 of 15
- Introduction to Product Strategy Playbook
- Why use the Product Strategy Playbook?
- About the Product Strategy Framework
- Pillar One — The Customer
- Pillar Two: The Product
- Pillar Three: The Company
- Pillar Four: The Competition
- Real-life Example: Kijiji Autos Mobile App
- Assessing your Results
- Entering the Market
- The Death of the MVP
- Putting it into Practice
- Conclusion
- About the Author
- About Product Faculty
Chapter 3
Pillar One — The Customer
As mentioned in the previous section, you must evaluate your product strategy’s viability against 4 pillars: Customer, Product, Company and Competition.
The first, and the most important pillar is the Customer Pillar. There are 3 elements within the Customer Pillar that you must evaluate:
- Segments
- Retention
- Customer Pain
Segments
Overview
The focus of this element is to evaluate the size and growth of the customer segments you are targeting.
Why is this important?
It doesn't matter how great your product is, or how fast you iterate. The market you’re in will determine a significant part of your growth.
Retention
Overview
The focus of this element is to evaluate how often users will actually use the product.
Why is this important?
Strong retention is a prerequisite for growth for both B2B and consumer products. You need to develop a hypothesis on the organic frequency of how often the product will be used.
Customer Pain
Overview
The focus of this element is to evaluate the magnitude of your users' pain that your product is solving for.
Why is this important?
The bigger the pain that your product is solving, the more your customers will want to buy and use your product.
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