Seven successful product development strategies by team leaders can be stolen from major tech companies
this paper Originally published on .cult Yasas Sri Wickramasinge.. ..cult Is a community platform for developers based in Berlin. We write about everything related to our careers, create original documentaries, and share a pile of stories of other unknown developers from around the world.
All successful product engineering teams have one common practice. It’s a winning product development strategy. However, finding a universal product development strategy for different product teams is not feasible.
This article introduces seven different but successful product development strategies. This allows you to create your own plans or improve existing strategies inspired by these techniques.
1. Objective-driven independent team: Spotify strategy
The world’s most popular music streaming platform, Spotify, There is expertise in the organizational hierarchy. Spotify maintains a variety of groups called squads, tribes, alliances, and guilds, rather than traditional management structures. This is a brand new label for the group structure, inspired by the “Growth Mindset”.
With this different organizational structure, they developed their own version of the product development, the “Spotify model”.
This model gives each product team (“team”) the freedom to choose their preferred project management framework, such as Agile Scrum or Kanban.
“Discover Spotify Models” at Atlassian
Each team in the same organization performs in its own way. However, the Spotify model encourages squads to work with high-level goals. When multiple squads work together to tackle high-level goals, the complex group structure is called a “tribe.”
The next category is “Chapter”. This is an independent company with very high expertise in certain areas such as quality assurance, user experience and application security. Chapters typically include senior leaders or architects to help each team level up. Their product.
In addition to these basic roles, the Spotify model has more classifications, here..
If you’re a tech leader looking forward to inspiring your team to speed up the development process while keeping collaboration between teams simple, the Spotify model is worth a look.
2. Work in the opposite direction: Amazon Strategy
This is a very interesting tactic that Amazon has learned. The main idea is to reverse engineer the product, starting from the customer’s perspective.
Amazon Working Backward Model
Interestingly, they suggest launching the product to the market, starting directly with the press release. It sounds strange at first, but the main goal is to directly evaluate market opportunities. If the product isn’t right, this strategy is the fastest way to find out.
If the product idea seems to be hitting the market, the remaining steps in this strategy are carried out to get the process out of the internal working team.
This more customer-oriented strategy is ideal if you want to focus on developing entirely new products.
3. Product Playbook: Typeform Strategy
The term “playbook” is common in American football, which refers to a book that holds a team’s strategy, tactics, and play.
The playbook has hundreds of ways the team’s experience so far, and you’ll see what worked and what worked for them.
Similar to the sports playbook concept, Typeform has adapted this to its product development strategy and took the process to the next level.
Artwork by Henrik Kniberg on Spotify
According to the Playbook concept, the main focus is to deliver a testable, usable and adorable product as soon as possible.
Playbook Strategy has two main paths to achieve that: Discovery and Delivery.
- Discover — Brainstorm valuable product ideas that can create valuable suggestions that solve existing problems in the market.
- Delivery — After discovering a product, delivery includes actionable steps to measure the scope, execution process, and delivery artifacts of your project.
However, it is worth mentioning that this strategy is not linear and is directed towards an iterative process. This allows anyone to come and go and continuously improve their products.
Suppose you plan to develop a product development strategy that supports your organization in the long run. In that case, it’s worth digging deeper into this strategy to find the one that suits you.
4. Maximize customer adaptation and retention: Netflix strategy
As a movie streaming service Netflix The ultimate goal is to attract more subscribers to the platform and keep them as long as possible. Their product development strategy is customized to achieve this ultimate goal under four major subcategories.
- Personalize
- Original content
- Viewing experience
- Interactive storytelling
These focus areas help build unique products with widely accepted market brands and stay ahead of the competition. All development work falls into the above four categories and is performed quarterly. Therefore, all product update releases serve all of these purposes and provide a better customer experience at the end of the day.
This strategy inspires companies looking to maximize customer engagement.
5. Diversification of products and services: Google’s product development strategy
From productivity tools to entertainment services to hardware devices such as Pixel smartphones, the tech giants are making it. Google.. Therefore, it is interesting to sneak a look at the peak of their product development strategy.
Google’s primary purpose is to create an ecosystem that acquires, retains, and consumes more Google products.
With an ever-improving ecosystem, the company is creating more and more profits, unbreakable brand awareness and attractive new Internet users.
When growing Google’s product portfolio, the following two sub-strategies they follow stand out:
- Company and Product Acquisitions — As a leader in the technology industry, Google may acquire up-and-coming talent for product or company acquisitions. Then they further develop their newly acquired products under their brand.
- Vertical integration across different industries — Google isn’t limited to information technology or internet services. Still, they also collaborate with other industries such as computer hardware manufacturing, marketing and entertainment. They sell services to different sectors through their disciplines and generate more revenue.
Google’s product development strategy may not be directly related to small and medium-sized software companies. Still, the way they carry out product extensions encourages growing product teams to follow.
6. Concept test: Booking.com strategy
The main purpose of this strategy is “FailFast, LearnFaster” pioneered by booking.com. They design multiple prototype versions / conceptual products, deploy them to the public, collect data, and understand customer preferences and product involvement.
If the versions of the same concept are slightly different, this strategy (also known as A / B testing) is useful for experimenting and choosing the best one.
The concept testing approach is especially useful if you have your first product ready, but nonetheless, there are multiple ways to improve existing products and cutting-edge features that you are not very sure about in terms of ease of use. There is a concept.
7. Product Concept: Victory Product Strategy
The award-winning product strategy is Software industry.. At the core of this model is the “product mindset.”
This strategy is an all-rounder in the software product development life cycle, with a focus on staying ahead of the competition and covering ideas up to the product disposal phase.
Behind the WinningProductModel is the community. They announced the Winning Product Toolkit, which provides canvas and strategic tools.
Suppose you’re looking for a more sustainable and low-risk software product development strategy to give it a try. In that case, the winning product strategy is worth a look.
A toolkit for building great software products
Final idea
Product development strategies are unique and not explicitly disclosed to the outside world. Still, it’s worth looking at the available information related to some popular organizations.
But I think this article could give you some insights into some successful strategies. We wish you all the best of luck by implementing a unique version of our product development strategy that takes your product to the next level.
“Great products don’t happen in accidents”
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