Who Defines the Product Vision in Your Team?

Who defines the product vision? Let us learn about its definition and some tips so you can create a compelling vision for your business.

Who Defines the Product Vision?

The product vision is a document that describes the purpose and place of a product. It may contain the vision statement, the product’s mission and objectives, and its strategy and goals.

The product vision provides guidance on what to do and how to do it. It also serves as an inspiration for teams that work on a product. 

The vision also suggests how the product will evolve over time. It helps stakeholders understand why certain decisions are made about the product.

The product owner and manager write the vision document. The team may include members from various departments such as marketing, engineering, and sales.

Still, it’s good to involve everyone who’s involved in the development of a product or service.

How to Create a Product Vision?

Know Your Audience

Write your document with the audience in mind. It’s best to write for your customers and users. 

They’re your target audience, but you can also include other stakeholders such as investors, employees, and colleagues.

Set Your Purpose

Set out why you’re creating the vision statement. 

What is it for? Who is it written for? Why is it needed? What does it influence? 

Define these so you know what to write about in your document.

Define Objectives

You can define specific objectives in your product vision document or let them be broad so they can be used for various business decisions over time. 

Define clear statements so everyone will know what you mean when you say something like “product/service X will surpass competitor Y by Q1 2020 in terms of conversion rate by 15%.”

State Your Strategy

Explain what your strategy is—what actions you’ll take to achieve your objectives—and how you plan to execute it. 

Give objective-based tasks that define when, why, and how you’ll do each task. Also, keep in mind that strategy changes over time.

Outline Your Product’s Place in the Market

Who is your competition? Why does your product stand out? What is your product’s distinct advantage over your competitor’s products?

You need to position yourself in the market. So, you can identify which strategies should work for you.

Write short paragraphs that describe your product’s place in the market. Highlight your product’s distinct advantage over the competition.

Why a Product Vision Is Important

If you don’t define the vision, you may end up making decisions that don’t align with the product vision.

You may not focus on the right things to achieve your goals. For example, you may focus more on the customer experience instead of increasing sales.

You may not know why certain decisions are made about your product. For example, you make design decisions without knowing why they’re needed.

You may not be able to create a compelling product vision on your own.

It’s best to get help from experienced people and experts in the field of product design and development. They can help guide and support you in the process of creating your product vision.