Building a product is both an art and a science, and what separates successful products and the teams that launch them from those that are unsuccessful is a well thought out product roadmap. Especially now that many SaaS businesses opt for a fully product-led go-to-marketing strategy.
In fact, a product roadmap is THE single most important document you will ever produce in a SaaS company. The roadmap is essentially the heart and soul of your company strategy.
A report by Nielsen states that of the 3,000 new products that are launched every year, only 15% of them are truly successful. This doesn’t come as much of a surprise if you consider the constant demand from users for new features in today’s modern world of tech and the plentiful and buzzing ideas of product managers. When it comes to prioritization, it’s often a tug of war.
In this blog article, I will outline three things that you, as a product manager, should know about creating a product roadmap that holds water and how you can make sure it will meet all your business objectives by looking at some successful SaaS company examples. Bare with me for a few paragraphs, and I promise your next product strategy meeting will be a cakewalk!