Top Tools, Tips, and Frameworks You Can Use To Build a Product Strategy
Published: 2024-01-26 11:52:32

As a product manager, **I know firsthand how crucial yet tricky crafting a product strategy can be.**

**The time it takes to [create a product strategy] (https://monday.com/blog/rnd/product-strategy/?utm_source=devto&utm_medium=organic&utm_campaign=top_tools_tips_and_frameworks_you_can_use_to_build_a_product_strategy&utm_term=queueVTA_link_1) can vary greatly depending on several factors**, including:

- Product complexity
- Company size and culture
- [Available resources](https://support.monday.com/hc/en-us/articles/360020068040-What-resources-are-available-for-me-to-use/?utm_source=devto&utm_medium=organic&utm_campaign=top_tools_tips_and_frameworks_you_can_use_to_build_a_product_strategy&utm_term=queueVTA_link_2)
- Desired level of detail

**But with the right tools, tips, and frameworks, you can quickly set your products up for success** – and with less stress.

In this post, **I’ll share some of my go-to tools and tips that help me build effective strategies** to set products up for success.

## **What Tools Should You Use to Build a Product Strategy?**

Instead of listing a bunch of tools and tips without context, **I’ll take you through the steps I feel are important** (the ones I notice my peers battle with) **and mention the tools I use in each step.**

I highly recommend using **a versatile project management platform like [monday dev](https://monday.com/dev?cq_src=google_ads&cq_cmp=12618353206&cq_term=monday%20dev&cq_plac=&cq_net=g&cq_plt=gp&utm_medium=cpc&utm_source=adwordsbrand&utm_campaign=row-en-prm-workos-work_mgmt-brand-p-search-desktop-core-aw&utm_keyword=monday%20dev&utm_match_type=p&cluster=&subcluster=&ati=&utm_adgroup=monday%20dev&utm_banner=647900212510&gad_source=1&gclid=Cj0KCQiA-62tBhDSARIsAO7twbbgWjUSk3QbTw2xrqJZhKDNikvTtaJAV8-mYnG0aJptMQ8RY6A4aKIaAt8eEALw_wcB/?utm_source=devto&utm_medium=organic&utm_campaign=top_tools_tips_and_frameworks_you_can_use_to_build_a_product_strategy&utm_term=queueVTA_link_3) to map out your strategy.** The [customizable templates](https://monday.com/templates/?utm_source=devto&utm_medium=organic&utm_campaign=top_tools_tips_and_frameworks_you_can_use_to_build_a_product_strategy&utm_term=queueVTA_link_4) facilitate every stage of the FEE (Form, Educate, Embed) framework I follow.

- **Form**: Gather information to create the strategy
- **Educate**: Share the strategy with team members and stakeholders
- **Embed**: Create a [product roadmap](https://www.hotjar.com/product-roadmaps/benefits/) and execute the strategy

One of the main reasons I prefer using monday dev is because it improves [collaboration](https://www.linkedin.com/advice/1/how-can-collaboration-improve-your-product-launch-of0te) and ensures all work links back to the core strategy.

Either way, get this tool (or a similar one) so you can follow along with the steps in this blog.

![Image description](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/t5lif77do2u7jusyjuyi.png)

### **1. Research (Form)**

Start by identifying market gaps your product can fill. **Understanding your target users' pain points is key.** Dig into their struggles through surveys, interviews, observation, and [analysis of user data](https://monday.com/blog/crm-and-sales/customer-data-analysis/?utm_source=devto&utm_medium=organic&utm_campaign=top_tools_tips_and_frameworks_you_can_use_to_build_a_product_strategy&utm_term=queueVTA_link_5).

**Identify gaps your product can fill. Then, [craft a clear vision statement](https://www.businessnewsdaily.com/3882-vision-statement.html) defining your product's future destination.** This vision should guide decisions at each stage.

**Your tasks:**

- Identify 3 specific online communities where your target users gather (e.g., forums, Reddit groups, Facebook pages).
- Develop 10 open-ended questions focused on their struggles and unmet needs. Understand the "why" behind user struggles. Analyze responses with word clouds or sentiment analysis tools.
- Reach out to 20-50 individual users for in-depth interviews. Record and analyze their responses for recurring themes.
- Analyze existing user data (website analytics, social media engagement) to identify pain points and usage patterns.

### **2. Foster Collaboration (Educate)**

Involve cross-functional partners like engineering, design, and business early for guidance and keep them looped in. Align on priorities, plans, and success metrics. Make team development a priority as well.

**Your tasks:**

- Plan a "product visioning workshop" for all core team members. Use tools like Miro to brainstorm ideas and collaboratively define shared goals.
- Schedule weekly "sync-up meetings" with each team (engineering, design, business) to share progress, discuss roadblocks, and maintain alignment.
- Set up a dedicated communication channel (Slack channel, team wiki) for ongoing collaboration and information sharing specific to roadmap planning.

### **3. Product Roadmaps (Embed)**

Having trouble visualizing how all the strategy pieces fit together? **Try [creating a product roadmap](https://monday.com/s/product-roadmap/?utm_source=devto&utm_medium=organic&utm_campaign=top_tools_tips_and_frameworks_you_can_use_to_build_a_product_strategy&utm_term=queueVTA_link_6) that displays timelines, sprints, objectives, and key results for everyone to easily see**. (I find this incredibly helpful for keeping everyone aligned.)

**Your tasks:**

- Use monday.com's roadmap templates in monday dev to build a timeline view of your strategy. Their flexible board structure makes mapping out quarters, sprints, and milestones a breeze.
- Identify 3-5 key strategic objectives for the year based on leadership priorities and start listing them as parent items.
- Break down each objective into measurable key results for that sprint/quarter as child items nested under the relevant parent goal.
- Make use of monday dev features like colors, tags, and icons to categorize roadmap items based on traits like department, theme, priority level etc. This builds visual clarity.
- Set durations/timelines on parent strategy items to depict major milestone dates and anchor smaller sprints/deliverables. Adjust as needed.

### **4. MVP Testing (Embed)**

With the foundation set, it's time to [start testing](https://monday.com/blog/rnd/test-plan/). **Don't overinvest upfront**. **Build a [minimum viable product](https://economictimes.indiatimes.com/definition/minimum-viable-product/?utm_source=devto&utm_medium=organic&utm_campaign=top_tools_tips_and_frameworks_you_can_use_to_build_a_product_strategy&utm_term=queueVTA_link_7) to start validating assumptions quickly and affordably.**

**[Soft launch it](https://monday.com/blog/marketing/product-launch-strategy-template/?utm_source=devto&utm_medium=organic&utm_campaign=top_tools_tips_and_frameworks_you_can_use_to_build_a_product_strategy&utm_term=queueVTA_link_8), gather user feedback** (both positive and negative) **and be ready to iterate**. Look for trends in user insights to refine the product.

**Your tasks:**

- Build a simple clickable prototype with your core user flow in a tool like Figma and use it for early user testing/feedback.
- Use monday dev's lean project templates to map out key assumptions and early hypotheses for testing. Build your first user story set based on these.
- Leverage the customer feedback template to easily manage your user studies right inside monday dev.
- Create a dedicated board to track validating activities like interviews, user tests, feedback collection, and data analysis from your early access launch – this will serve as your validation workflow.

![Image description](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/88qveb5nn88rs5clf3or.png)

## **Monitor and Adapt**

To grow successfully, **ensure your product can scale technically and operationally**. Stay nimble, **monitoring market changes for shifts in trends and being ready to adapt**. Have backup plans in place for potential pivots.

Follow these steps, and you'll be on the path to product-market fit. Of course, product strategy is a fluid process, but **having [access to the right tools](https://monday.com/dev?cq_src=google_ads&cq_cmp=12618353206&cq_term=monday%20dev&cq_plac=&cq_net=g&cq_plt=gp&utm_medium=cpc&utm_source=adwordsbrand&utm_campaign=row-en-prm-workos-work_mgmt-brand-p-search-desktop-core-aw&utm_keyword=monday%20dev&utm_match_type=p&cluster=&subcluster=&ati=&utm_adgroup=monday%20dev&utm_banner=647900212510&gad_source=1&gclid=Cj0KCQiA-62tBhDSARIsAO7twbb6aUC1dznIws-cZwCYTEARzMfXBBbjtdZGmJLZvYCpwim84zRGQf8aAllfEALw_wcB/?utm_source=devto&utm_medium=organic&utm_campaign=top_tools_tips_and_frameworks_you_can_use_to_build_a_product_strategy&utm_term=queueVTA_link_9) can make all the difference**.

There you have it - a quick guide to my favorite tips and tools for crafting a winning product strategy! I hope they help you set your product strategy up for success!

Let me know if you have any other questions by leaving a comment below – I’ll be watching! Wishing you the best on your product journey!

**Key Takeaways**

- Invest significant time upfront, deeply researching your users, market, and competition. These insights inform your strategy.
- Create a clear vision statement for your desired product future state and direction. Use this vision to guide all decisions.
- Get cross-functional partners engaged early for broader perspective and increased buy-in.
- Build roadmaps detailing objectives, milestones, timeframes and metrics to operationalize your strategy.
- Start with a minimum viable product focused on testing assumptions first before over-investing.
- Continuously gather user feedback, monitor the market, and be ready to adapt your strategy based on learnings and shifts.

## **FAQs:**

**Q: How often should you revisit your product strategy?**

**A:** I recommend reviewing your strategy quarterly and after every significant product release or market change.

**Q: What metrics should you track?**

**A:** Focus on usage, retention, acquisition, revenue, and customer satisfaction metrics. Use qualitative feedback, too.

**Q: What's the best tool for building a product strategy?**

**A:** There's no one-size-fits-all answer, but I've had great experiences with [monday dev](https://monday.com/dev?cq_src=google_ads&cq_cmp=12618353206&cq_term=monday%20dev&cq_plac=&cq_net=g&cq_plt=gp&utm_medium=cpc&utm_source=adwordsbrand&utm_campaign=row-en-prm-workos-work_mgmt-brand-p-search-desktop-core-aw&utm_keyword=monday%20dev&utm_match_type=p&cluster=&subcluster=&ati=&utm_adgroup=monday%20dev&utm_banner=647900212510&gad_source=1&gclid=Cj0KCQiA2KitBhCIARIsAPPMEhLeKzYsBQyYad2RtL2jItyjWyqpIYAOV2AmXC5aTObdYvEelcs1np8aAux6EALw_wcB/?utm_source=devto&utm_medium=organic&utm_campaign=top_tools_tips_and_frameworks_you_can_use_to_build_a_product_strategy&utm_term=queueVTA_link_10). It's like a project management dream, offering everything from roadmaps to bug tracking and feedback management. Plus, it keeps everyone on the same page, which is crucial for a successful strategy.

**Q: Should it include a budget and timeline?**

**A:** Absolutely - having a budget and timeline ensures alignment and accountability. But be ready to adjust.

**Q: Who should be involved in the product strategy process?**

**A:** At a minimum, product, engineering, design, and business stakeholders should be involved.