Products are vehicle of value for customers and business.

By: Clara Vincenc-Cismaru, Product Management Consultant & Strategic Thought Partner, Key&Spark

A great salesman can sell anything.

While this can be true sometimes, a healthy business needs good products or services.

Product is a vehicle of value.

A product generates value for customers by solving their problems, desires, needs.

In exchange, that generates value for the business.

For a business to be successful, the value generated needs to be generated repeatedly.

Product-led organizations optimize their products to deliver value.

There is an iterative process of:

- Discovery of the customers problems, desires, needs, the right problem to solve and the definition of the solution

- Delivery of the solution

- Measure of the value delivered and adjustment

This approach can lead to significant benefits for companies that effectively implement it.

- Lower customer acquisition costs (CAC)

- Shorter sales cycles

- Faster scaling

- Improved customer retention

- High customer lifetime value (CLTV)

- Alignment across functions

Here are few questions to reflect upon:

- Does your product meet a significant market need that customers are willing to pay for?

- Can users quickly realize significant value from your product?

- What can you do to deliver results faster?

- Are you data-driven in making decisions?

- Is your entire company aligned toward optimizing the product?

Need help answering these questions?

We’re here to help. Contact us today to see how our product management services can help your business excel.