Dan Olsen (author of “The Lean Product Playbook”) broke down Uber’s product strategy based on old slides – and created a “Product Strategy Grid”. Here’s how you can use it to create a killer product strategy!
Get clear about the customer benefits your product provides!
Based on the KANO model, there are 3 types of benefits you can provide:
1. Must-haves: Customers would never consider your product without this.
• Take me where I want to go.
2. Performance Benefits: Think of everything valuable that your product can deliver. The more it does, the better it is for your customers.
• Let me quickly get a ride (faster)
• Save me money (cheaper)
• Give me a nice experience (nicer)
• Make me feel safe (safer)
3. Delighters: Not something a customer expects, but when it’s there, it can generate real additional customer value.
• I can book without having to call.
• I can see where the car is.
Get clear about the existing alternatives.
What are potential customer currently using to solve their problems? List those competitors.
• Cabs / Taxis
• Car Services / Limos
Now create a matrix and compare your benefits to those of your competitors
On on axis are the must-haves, performance benefits and delighters and on the other axis are the competitor. Go ahead and find your unique differentiatiors and delighters!
• UberCab would be faster & cheaper than a limo, but nicer & safer than a taxicab.
How are your product’s benefits better than those of the existing alternatives?