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It concisely communicates where your product wants to go and what it wants to achieve in the long term.
Product vision plays a critical role in capturing and representing the high-level goal of the product in a single phrase. As such, it acts as a guide and a reminder to all stakeholders involved in the development of the product, conveying the shared objectives they seek to achieve. These stakeholders can include the product team, executive staff, developers, marketing people, and others. The product vision also conveys (implicitly or explicitly) the reason for creating a product, the problem that it aims to solve.
The product vision for Google search is to "provide access to the world's information in one click". This describes the product goal: easy and convenient access to information. It also implies the current problem: too much information that makes it difficult for a user to find what they are looking for.
A good Product Vision Statement is invaluable throughout the product development process. It serves as a compass for strategy and as a reference point for design & implementation: features & options that align with it are included in the product, while the ones that don't are left out. It gives the product (and the company) a voice.
Geoffrey Moore offers a simple template that entrepreneurs can use to draft a vision statement
The Product Vision Statement focuses on the customer and the benefits that the product brings to them. For that reason, it uses the same format as the positioning statement.
The Product Vision Statement includes much more than just the product vision - it conveys what, who for, and why. This information makes the statement both tangible and practical and allows it to serve as a compass guiding decision throughout the product development process.
At Emerging Humanity, we believe that the Product Vision Statement should supplement any product-related information to its corresponding stakeholders. Whether it accompanies the specifications to the developers or the messaging to the marketing team, the Product Vision Statement can provide context and act as a quick point of reference. This ensures that all teams understand the company's vision for the product and that all their activities align with and serve that vision.
The first step in creating a product vision statement is to include a cross-functional team of stakeholders. Invite designers, developers, marketers, and business people. Not only will you receive valuable input from them, but their early participation ensures that they will support the resulting product vision.
Start with your customer and their pains: Who are they? What kind of problems do they encounter? Then, brainstorm about how your product may solve these problems What attributes make your product useful, valuable and desirable? How does it stack against the competition?
Remember that the Product Vision Statement is the ambassador of your product's purpose. Don't rush the process. Taking the time necessary to get it right, will pay lots of dividends throughout the product's lifecycle.
Product Vision Statements can be as diverse as the various products and their visions. Fortunately, there are guidelines that can help in creating a Product Vision Statements that is clear and concise.
Although your product vision may not follow all four guidelines, it is good if it implies each to some degree.
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