A good product strategy should focus on building a product that solves a real problem for customers, has a clear value proposition, is easy to use, and can be distributed efficiently. Additionally, the product should have a clear path to revenue and scalability. To achieve this, startups should constantly seek customer feedback, iterate on their product based on that feedback, and prioritize the features that will impact their customers most.
To measure the effectiveness of a product strategy, startups should track metrics such as customer acquisition, retention, satisfaction rates, revenue growth, and user engagement. By regularly monitoring these metrics, startups can assess whether their product strategy is on track and adjust as needed. In addition, remembering that a product strategy's success is not just about achieving short-term gains but also about building a sustainable business over the long term is essential.
Feel free to book a 30 min call with me in the following days the get my feedback.