Is Product Management & Product Marketing Leading the Way for the Economy Recovery?

All signs are pointing to some form of recovery in the US economy. Product managers need to be hard at work right now preparing for the upturn in sales and planning the product roadmap for future releases. It is a great time for investment in time and internal resources. It is absolutely critical to understand how the market has changed given our new economic realities and to understand the new market problems that your products can solve. These investments are magnified by competitors who are retrenching rather than investing.

Following is my first pass at an  economic recovery check list:

• Have you looked at your messaging and value prop statement? Does it need updating?
• Has your market changed? How? Any new personas?
• Are the product roadmaps updated?
• Are development budgets appropriate to execute the roadmap?
• Are all the internal groups aware/aligned to any changes?
• Are artifacts aligned to various stages of the customer’s buying process? Any new artifacts?
  • Don’t’ forget to re-evaluate your Web site from your market’s view. Is it about the products you are pushing, or the problems they need solving?
  • Is now the time to look at your social media strategy? Even if you don’t have one, you can still develop a presence to begin integration – if your market is using social media tools for learning.
  • Are your competitors weakened or dissolved, creating voids in the market that can be filled? Are these voids ones you should be filling? Need to fill?
  • Is the sales team prepared with updated tools, competitive analysis and pricing? Are the messages in the artifacts aligned to the right stage of the process? Will what you convey help the buyer move forward in the buying process?

The CEO and sales leaders might be cranky right now, but the product manager can provide the optimistic outlook for the organization and stay busy by planning. Looking from the outside in, is your organized prepared for future success? Plan to succeed and succeed with your plans.

What would you add?