Embarking on the Product Management Journey: Product Research and Discovery
Welcome to Product Cohort’23 Turkey. This will be the first blog post among 12 posts which are created by 12 Product Managers.
Hi all!
Welcome to Product Cohort’23 Turkey. This will be the first blog post among 12 posts which are created by 12 Product Managers. Topics of those 12 blog posts have been decided by considering the main subjects that a Product Manager should know and implement in the product management lifecycle.
I am the lucky one who has the chance to study, share, and write the very first topic. Although the topics have not been decided chronologically, the first topic, which is this post’s topic, is Product Research and Discovery.
To understand Product Research & Discovery comprehensively, I decided to step back and start from the very beginning. Finding the idea. It is probably one of the most challenging things, however, there are some ways to find ideas.
User interviews: Your users are the ultimate source of truth. By engaging in meaningful conversations with them, you can uncover their pain points, needs, and desires. Listen attentively to their stories, as these narratives often contain the seeds of groundbreaking solutions. If your users are the internal stakeholders, you are one of the lucky ones because you can make user interviews much quicker 🎉 Yet, it is important to gather more ideas and provide a comprehensive idea pool since users may direct the topics according to their needs.
Trend analysis: Keep a keen eye on industry trends, emerging technologies, and market shifts. What are the prevailing winds in your space? Understanding these trends can help you identify opportunities for innovation before they become mainstream.
Problems that are close to you: Sometimes, inspiration is closer than you think. Your own experiences, as well as those of your immediate circle, can yield valuable insights. The problems you encounter in your daily life could be shared by many, making them fertile ground for innovative solutions.
Internal stakeholders: Don't underestimate the wealth of knowledge within your organization. Your colleagues, with their diverse backgrounds and experiences, can provide valuable perspectives and ideas. Encourage open dialogue and idea-sharing within your team. Idea generation made with teams that meet with users is critical to consider since they provide user intuitions as well. However one should not forget that those ideas can also be biased. Also, it is essential to put some limits on the ideation meetings, otherwise, the efficiency may drop.
Not all ideas are created equal, and not every spark should ignite a fire. Here are some criteria to ensure that your idea is worth pursuing:
The idea should satisfy a need: Your idea should address a genuine problem or need in the market. It should make people's lives easier, more efficient, or more enjoyable.
Idea should have a Unique Selling Point: What sets your idea apart from the competition? A clear USP gives your product a competitive edge and makes it more appealing to potential users. Do not forget that USPs should be communicated both internally and externally because internal stakeholders need to align on the USPs of the product to fully comprehend it.
The idea should be profitable, sellable, and in demand: An idea must have a viable business model. It should be financially sustainable, with a clear path to profitability. There should also be a demand for your solution in the market.
The idea should create value: Ultimately, your idea should create value for both your users and your business. It should solve a problem in a way that delights users and drives business growth.
While it's tempting to pursue every idea that comes to mind, it's neither practical nor wise. Developing a product is resource-intensive. Investing in an idea that doesn't pan out can be costly in terms of time, money, and effort. It is a must to decrease the risks of;
Value risk: whether customers will buy or choose to use the product
Usability risk: whether users can figure out how to use the product
Feasibility risk: whether we can build what we need on time, whether we have the needed skills, and technology
Business viability risk: whether this solution also works for the various aspects of our business
Therefore, it is a must to conduct Product Discovery & Research. But, what is Product Discovery & Research?
By definition, it is the process of researching to understand your users' problems and needs, and then validating your solutions before beginning development. Here, the Double Diamond framework is worth mentioning.
The Double Diamond framework is a design thinking model that helps guide the product discovery and development process. It was developed by the Design Council in the United Kingdom. The framework consists of two diamond-shaped phases.
In the first phase, it talks about the “Problem”, and tries to;
Discover: Explore the problem space broadly, and gather insights to understand the problem.
Define: Narrow down and define the specific problem or challenge to be addressed.
In the second phase, it talks about “Solution”, and tries to;
Develop: Explore various solutions and concepts through brainstorming and ideation.
Deliver: Converge on a specific solution, prototype, test, and refine it to create a tangible product or solution.
Most of us start from the “Solution” phase as a habit. It's crucial to resist the temptation to jump straight into solution mode. Focus on deeply understanding the problems before attempting to solve them.
With the help of Quantitative and Qualitative Research, we can understand and discover the problems to succeed in the first step of the Problem phase. Using methods like user research, focus groups, observation, user interviews, data analytics, competitive research, and empathy mapping may help you to gain insights into user needs and pain points.
For the second step of the Problem phase, which is Define, a Product Manager should follow;
Nailing down the problem: Summarize the problem in a sentence, and communicate it effectively to all stakeholders. (which actually is a very tough thing to do 😄)
Validate the Problem: Ensure that the problem you've identified resonates with your target audience. It is crucial to make the validation with the target market.
Prioritize Problems: Not all problems are equally urgent or impactful. Prioritize them based on user pain, frequency, and urgency. Also, some of us consider whether there is a workaround for that problem or not to prioritize the problem.
Before starting on the Solution phase, it is also important to define outcomes and success metrics, since it may lead you to other solution options or change the priorities of the solutions. Key success metrics may include user feedback (with interviews, NPS, etc.), feature adoption rates, and business outcomes like revenue, retention, and upsell opportunities.
In conclusion, the journey of innovation starts with Product Discovery and Research. By following the Double Diamond framework, understanding user needs, and rigorously validating problems and ideas, you can set your product on a path to success. Always keep in mind that not every idea is worth pursuing, and prioritization is key to efficient and effective product development. The next steps will be under the Solution phase, which will be another blog post’s topic.
Stay tuned! 🙂
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