Product management (PM) is the executive leadership function responsible for enabling, managing and executing the successful launch and development of new products. It is a combination of management of teams, process, product and market. The PM is the primary link between product developers, stakeholders and the outside world, where they make decisions and drive resources needed to help bring new products to market. Product discovery phase is especially important when it comes to introducing disruptive technologies.
Here are five reasons why product discovery phase is critical for product success.
1.     Discovery phase brings accountability to the product owner
With product discovery phase, teams don’t have time to research products or dream. They need to respond to customers immediately and keep up with their needs, not just their expectations. They need to experiment and move fast to bring new products to market. And the product owner is the primary one responsible for doing so. Furthermore, the discovery phase services are one of the most vital ones in product development.
2.     Discovery phase impacts customer experience
Ideally, product discovery and customer validation are done together. Yet, the former is often rushed, while the latter is often done at the last minute. We believe that product discovery affects the customer’s first-hand experience far more than it should. And if customers experience the wrong thing in the wrong way, they may never trust your product or the company. Discovery and customer validation play a critical role when it comes to the overall experience, as one of the top reasons that customers leave is because they have a poor experience with a product.
3.     Discovery phase prepares teams for problem solving
The product owner is generally empowered to change the requirements and expectations for new products. This shows how one team’s requirements and expectation influences the next. That is why finding and mapping customer needs is so crucial for product success. The better teams understand their customers, the better they can solve problems. The better the product discovery phase team, the more the product will be able to anticipate customer needs.
Discovery phase ensures efficiency
Product discovery changes the pace at which your team works, reducing the amount of time required to launch and maintain new products. Given the agile development model, the product discovery phase can often be done collaboratively. The railwaymen.org team is able to launch the products quickly. They can also change the team’s approach when they come up with new ways of working together.
4.     Discovery phase improves communications
When it comes to solving difficult issues or delivering disruptive technology, product discovery brings all the stakeholders together to discuss and communicate their needs. It’s critical in building a strong community of product developers who can share ideas and express their thoughts on your product. It is necessary to consider the customer’s perspective in the decisions you make. It improves communication and helps in making the right decisions about the product.
Summary
In summary, the product discovery phase brings accountability to the product owner. It helps reduce rework and ensures that the right decision is made at the right time. It’s crucial to getting a product into market successfully. You can’t just talk about your product. You need to listen to your customers, and come up with creative solutions. Product discovery improves the efficiency of the team, and ensures that decisions are made at the right time, and that customers’ needs are addressed.
Hope you have a successful product discovery journey. If you have any doubts or queries, feel free to ask us.
