Main takeaways: - How to place the right bets for your three-year strategy - How to create a financial model of product impact - How to sell your strategy to stakeholders

1. www.productschool.com
How to Create Long Term Strategies
in Product by SpotHero Sr. PM

2. Join 35,000+Product
Managers on
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3. C O U R S E S
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4. C O U R S E S
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5. C O U R S E S
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6. C O U R S E S
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8. C O U R S E S
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9. C O U R S E S
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10. Eric Metelka
T O N I G H T ’ S S P E A K E R

11. • Understand why strategy is important for your product and your
career
• Create a market assessment
• Build a long-term strategy that you rally stakeholders behind
Takeaways

12. Agenda
• Background
• Defining Strategy
• Building Strategy
• Conclusion

13. Background

14. Eric Metelka
• BA from Northwestern in Math & Econ
• Management Consultant
• MBA from Columbia Business School
• Chicago tech companies - Cars.com, G2
Crowd, PowerReviews
• Senior Product Manager at SpotHero -
Manage Supply-side Product

15. Why Product

16. Why Strategy

17. Position Scope capacity Backlogs managed Strategic Independence
Associate Single project within a
broader initiative owned
by another PM
Small Squad Directs project strategy
based on broader squad
strategy set by others
Product
Manager
Single, well-defined
initiative
Squad Collaborates with tribe or
area leaders to set squad
strategy
Senior Single ambiguous
initiative
Single or multiple
squads
Sets strategy for squad
based on tribe strategy
Product Management Skills

18. Defining Strategy

19. Strategy is the plan for you accentuate
your competitive differentiation to win

21. • In your market, different customers (segments) have
different needs.
• Which of these needs are owned by you and which
are competitors?
• Which are underserved or emerging?
Create and capture new demand

25. Focus on Overcoming the Biggest Hurdle(s) and Risks
• There should be a clear diagnosis of the biggest problem(s) to
be solved and riskiest assumptions to validate, and the plan
should focus resources towards overcoming those hurdles.

26. Strategy is the plan for you accentuate
your competitive differentiation to win

27. Building Strategy

28. Heavy users
Average users
Casual users
Understand Your Most Engaged Users

29. • What are their goals?
• Why do they use the product?
• What are their pain points?
• How do they use your product?
• ...and based on all that, what would motivate them to use it more?
Customer Segmentation

30. Product Assessment

31. Our
Company Competitor 1 Competitor 2 Competitor 3
Current Portfolio Overview (Market Value)
Product 1 60
● ◕ ◕ ○
Our company has
the most
customers.
Product 2 15
● ◕ ◔ ○
Our company has
most customers.
Product 3 10
◗ ◗ ◔ ●
Competitor 3 is
SEO leader.
Product 4 10
◗ ◔ ◔ ○
Nobody owns the
event market
currently.
Product 5 5
◕ ● ○ ○
Competitor 2
covers more
partner use cases.

32. Things We Believe
In five years what do we think will be true...
...about technology
...about our customers
...about our competitors
...about us

33. Start Writing!

34. Focus on Overcoming the Biggest Hurdle(s) and Risks
• There should be a clear diagnosis of the biggest
problem(s) to be solved and riskiest assumptions to
validate, and the plan should focus resources
towards overcoming those hurdles.

35. 3 Year Objective
Today
Capability
Capability
Capability
Capability
Capability
Capability
Capability
Capability
Capability
Capability

36. 1
2
3
Grow Core Differentiate Expand
Capability Capability
Capability
Capability
Capability
Capability
Capability
Capability
Capability

37. Conclusion

38. Strategy Is A Map For Your Product and
Career

39. Differentiate Your Product

40. Heavy users
Average users
Casual users
Understand Your Heavy Users

41. Understand Your Market
Our
Company Competitor 1 Competitor 2 Competitor 3
Current Portfolio Overview (Market Value)
Product 1 60
● ◕ ◕ ○
Our company has
the most customers.
Product 2 15
● ◕ ◔ ○
Our company has
most customers.
Product 3 10
◗ ◗ ◔ ●
Competitor 3 is SEO
leader.
Product 4 10
◗ ◔ ◔ ○
Nobody owns the
event market
currently.
Product 5 5
◕ ● ○ ○
Competitor 2 covers
more partner use
cases.

42. Start Writing!

43. 1
2
3
Grow Core Differentiate Expand
Capability Capability
Capability
Capability
Capability
Capability
Capability
Capability
Capability

44. www.productschool.com
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Marketing, UX Design, Product Leadership courses and
Corporate Training