Each week I scour articles, wading through the dogs, and bringing you the best insights to help product managers and innovators be heroes.
Join me at the annual PDMA conference, Chicago Nov 12-15. Five educational tracks and 30+ sessions. I’m co-presenting with John Spero from Praxair on how organizations effectively and simply accelerate their product capability. I’ll also be leading a workshop with Sudhi Gulur from Boeing, applying the Lean Canvas as a minimum viable business case. Learn more at http://www.pim.pdma.org/p/cm/ld/fid=1972
Products outside the norms of a category create anxiety for consumers. Researchers found that consumers are curious when products are different from what they expect, but if they are too far from the norm, they will resist it. Crystal Pepsi is a good example – a clear version of Coke with no explanation for it being clear. With 33,000 new CPG products introduced every month, this is important research – your product should be different but not incongruent with the category… https://mumbrella.com.au/enabling-innovation-lessons-crystal-pepsi-479246
Test-driven product management. Building a better product starts with a clear understanding of the ideal customer and then tests are developed to validate your understanding of product features that create value. Along the way, there are many forms of tests that can be conducted. Read about testing from a Farmstead product manager… https://amplitude.com/blog/2017/10/25/test-driven-product-management/
Product management starts with positioning, not with product. With Lean Startup ideas nearly ubiquitous among product managers, I still often see the development of new products beginning with… the product. It is the “build it and they will come” approach. Instead, start with an ideal customer, a worthwhile problem to solve, and then move to a valuable solution in the form of a product. This means we begin with product positioning… http://compellingpm.com/making-a-big-mistake-in-product-positioning/
Rituals make products better – a surprising way to make existing products more appealing. One reason Oreo cookies became so popular was because of the “twist” shown in ads. Before eating an Oreo, people in the ads would twist the cookie into two halves. This simple ritual, copied by consumers including myself, made the cookie standout in a crowded cookie landscape. Rituals associated with a product creates differentiation. Read more at http://innovationexcellence.com/blog/2017/10/20/rituals-the-secret-to-instant-innovation/
Dashboards to measure innovation – why organizations need them. Peter Drucker shared, “What’s measured, improves.” It’s the adage that reminds us if you want to improve something, you need to first monitor it. Project managers know this well. They first monitor project work and then control it (meaning improve it). Innovation metrics smartly chosen for an organization will provide insights into what should be improved. Read some example metrics at https://www.inc.com/soren-kaplan/why-every-company-needs-an-innovation-dashboard.html
An innovation sandwich – 3 tiers to better innovation. (1) Business model innovation, (2) Service (or process) innovation, and (3) building innovation. More about each at http://transformingrealestate.jll.co.uk/why-transform/innovate-3-neat-layers/