Building Products That Make an Impact

A product manager's role goes beyond launching a new feature or product; it’s about creating solutions that have a lasting impact on the users and the market. Building impactful products requires a combination of strategic vision, customer empathy, and relentless execution. 

We have all been following companies/products like Netflix, Slack, Apple and Tesla etc. for a reason and it is not just because they excel at what they’re doing or are rich companies but the fact that they have properly hit the spot, and are prioritizing their users before everything else.

What did Slack do right?

Slack understood the problem, the popular collaboration tool, identified the need for a more efficient and integrated communication platform for teams. By understanding the fragmented nature of team communication (emails, instant messages, meetings), Slack was able to design a solution that streamlined and improved workplace communication.

This is one of the first steps in building an impactful product, understanding the problem you’re trying to solve is important and this is where you’re supposed to research the market trend extensively, get customer interviews, and do a competitive analysis. The goal is to uncover the pain points and unmet needs of the target audience.

What did Tesla do right?

Tesla has a vision of accelerating the world’s transition to sustainable energy and this is what drives all their product development efforts. This vision not only guides their product strategy but also attracts passionate employees along with their loyal customers who share the same values.

Once you have a clear understanding of the problem, it is now time to craft a compelling vision. This vision should inspire your team, stakeholders and customers the same.

What did Apple do right?

Apple’s continuous innovation in their product design and technology has consistently set them apart in the market. The introduction of the iPhone revolutionized the mobile phone industry by integrating a phone, an iPod, and the internet into a single device. Starting with the iphone we’re now able to listen to music, watch a video, browse the internet and play games all in our phones. 

Innovation is at the heart of impactful product development and it is rather important to think differently while exploring new technologies or methodologies. This could also mean adopting agile development practices, investing in R&D, or fostering a culture of experimentation.

What did Airbnb do right?

Airbnb and its success can be attributed to its focus on user experience. From the seamless booking process to the personalized recommendations and responsive customer support, Airbnb ensures that every touchpoint enhances the user’s journey.

An impactful product delivers an exceptional user experience and this involves designing intuitive interfaces, ensuring seamless performance, and providing excellent customer support. The goal is to create a product that users love and can’t imagine living without.

What did Netflix do right?

Netflix’s primary focus is on measuring the success of its content and platform. Viewer engagement, retention rates, and new subscriber growth are some of the key indicators that guide their content creation and product development strategies.

To ensure your product is making an impact, it is extremely important to define and track key metrics. These metrics also include user engagement, customer satisfaction, market share, and revenue growth.

I try my level best to integrate the learnings i have gathered from these products worldwide in my product management journey and my personal success metrics looks great. Know a product that is hitting the spot? Comment Below!