What Is a Product Vision? How To Write a Product Vision
Setting a clear vision for your product helps you win buy-in from stakeholders and appeal to your target audience.
As an entrepreneur, you understand the significance of having a clear vision for your company. However, when it comes to product development, it can be challenging to take a step back, see the broader picture, and define your product's mission and long-term objectives. Fortunately, there are effective tools to help you create a compelling product vision.
In this guide, we’ll outline the key characteristics of a strong product vision, and provide a step-by-step process for creating a product vision board.
What is a Product Vision?
A product vision encapsulates your product’s mission and goals. It can be articulated through a clear product vision statement, a succinct internal message that outlines why your product exists, who it serves, how it benefits customers, and its long-term objectives. A well-defined product vision serves as a conceptual framework that aligns your product team with shared goals.
Creating a product vision statement fosters a common understanding within your organisation about how to achieve product success. It’s important to note that your product vision may differ from your overarching company vision, especially if you offer multiple products.
Characteristics of an Effective Product Vision
Aspirational
Your product vision should inspire and engage your team, motivating them to work toward achieving your product’s objectives. It should reflect your company’s brand values and ensure alignment with the organization as a whole. For instance, Kirrin Finch’s vision to create eco-friendly clothing designed for diverse body types is more inspiring than a generic goal like “creating fashionable clothes.”
Achievable
While your product vision should be ambitious, it must also be realistic and attainable with the resources available. For example, if your vision is to sell sustainably sourced jeans at a modest price, ensure that your procurement process can support competitive pricing.
Customer-Focused
Your product vision should articulate the benefits your product offers to your target customers. Concentrate on the unique value your product provides, whether it’s affordability, high quality, or distinctive features. For instance, Cowboy’s vision of creating the “most connected electric bikes” highlights its unique value through features like wireless charging and built-in GPS.
How to Create a Product Vision Board
Define Your Product Vision
Start by conceptualising a compelling vision that outlines the positive change your product will bring. Engage your product management team and other departments to refine the purpose and benefits of your product.
Identify Your Target Market
Clearly define your target audience and how your product meets their needs. Creating an Ideal Customer Profile (ICP) can help you understand your most valued customers in terms of demographics, interests, and values.
Articulate the Needs Your Product Addresses
Identify the problems your product solves and the benefits it provides. Focus on the specific needs of your target customers and how your product addresses those requirements.
Explain Your Product
Define the core essence of your product and its key differentiators. Write a unique value proposition that succinctly explains the advantages your product offers compared to competitors.
Clarify Your Business Goals
Align your product vision with your company’s long-term objectives. Consider how your product will contribute to overarching business goals, such as increasing profits or enhancing brand equity.
Compile Your Product Vision Board and Gather Feedback
Organise your insights into a product vision board template. Share this document with your team to ensure alignment on the vision. Collaboration among all stakeholders, including product owners, managers, designers, engineers, marketers, and salespeople, is essential to realise your product vision.
By following these steps, you can create a compelling product vision that not only guides your team but also aligns with your broader business objectives.
