Product Team Assessment

Assess the current state of your product team

Corban Wells, Head of product

Primary Residential Mortgage, Inc.

Please check back in a year. Right now our industry is imploding with waves of layoffs rocking the mortgage world. We have zero discretionary spending available currently. It would be a complete waste of time to engage in a conversation now. Please check back in a year, and thanks for reaching out and for allowing me to take this simple assessment. :-)

Your note to Product Growth Leaders

Response

Points

Product Roles and Responsibilities

1.

Our roles and responsibilities in product management, development, and marketing are well-understood.

Yes

3

Q1

2.

We have a common language for product management that enables consistency.

Yes

3

Q2

3.

We are regularly improving the practice of product management in our organization

Yes

3

Q3

4.

Our product managers and marketers have frequent, direct contact with the market.

Inconsistent

1

Q4
Product Strategy

5.

We have a well-documented product strategy process (including market engagement and feedback).

Yes

3

Q5

6.

We consistently follow our product strategy processes.

Inconsistent

1

Q6

7.

We have a long-term roadmap aligned with the market.

Yes

3

Q7

8.

Our product strategy ensures alignment with what we can fully resource and execute.

No

0

Q8
Product Planning

3.

We are regularly improving the practice of product management in our organization

Yes

3

Q3

7.

We have a long-term roadmap aligned with the market.

Yes

3

Q7

9.

We have a well-documented product planning process (including strong collaboration with design and development).

Yes

3

Q9

10.

We have a systematic and objective method for prioritizing product features.

Yes

3

Q10

11.

Our product plans are rarely revised for the needs of a single client.

Yes

3

Q11

12.

We consistently follow our product planning processes.

No

0

Q12
Product Growth

13.

We have a well-documented product marketing and growth process (including release and launch, and collaboration with marketing and sales).

Inconsistent

1

Q13

14.

We get frequent feedback from both buyers and sellers about the buying experience.

Inconsistent

1

Q14

15.

We actively monitor customer metrics at the product level (including revenue).

Inconsistent

1

Q15

16.

We consistently follow our product growth and promotion processes.

Q16

Rating and recommendations

MEDIUM

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Team Score

Point Range

25 to 35

baseline

Assessment Date

7/15/22

Excellence is within reach. You've made a great start but there are still some areas where you can improve.

Product Roles and Responsibilities

One of the secrets of product success is clarity of roles and responsibilities. Clear roles, a common language, and a common set of tools ensures alignment across your teams.

Consistency is evidence of professionalism. Using the same language, tools, and templates ensures that leadership and colleagues understand what is being presented and what it means.

Section 1

Product Strategy

Section 2

Continue to leverage customer interviews, observation, and market data for a deep understanding of new products to build and new markets to serve. Remember: Technology drives invention; problems drive innovation.

Product Planning

Section 3

A well-documented planning process ensures that product teams deeply understand the market you serve, the problems you solve, and the business priority of the work. Be watchful that demands from a single prospect or client don’t derail your roadmap.

Product Growth

Section 4

Achieve product growth by empowering customer-facing teams during each step of the buyer’s journey. Keep tabs on product success with on-going market feedback and product metrics. Many products get released into the market without providing adequate tools such as competitive positioning and messaging, sales enablement tools, and a sales playbook.