Products and Platforms

Microsoft’s Outlook has been losing market share to Google’s Gmail and email programmes built into iPhones and other mobile devices for years. However, Microsoft is now seeking to breathe new life into Outlook by transforming it from a simple e-mail client to a platform that connects users to a variety of third-party services such as Uber, Yelp, and Evernote. Not only for Microsoft, but also for an increasing number of organisations established around goods or services, whether the transition from product to platform succeeds is a critical topic.It’s easy to see why such a move would be appealing. Platforms—which we describe as intermediaries that connect two or more diverse groups of users and enable their interaction—produce many revenue streams. 

Google began with a search engine in the mid-1990s and then introduced search advertising in 2000; and Google began with a search engine in the mid-1990s and then introduced However, not every business succeeds in making the transition. We looked at more than 20 companies that attempted to become platform providers to see why some succeed and others fail. On the basis of that research, we’ve identified four processes that can determine whether a transformation is successful or not.

What is Product Strategy?

The process of identifying what you want to achieve and how you plan to get there is known as product strategy. It must come before the “what,” “when,” and “how” because it is the “why” behind the product. 

A product manager’s best path to innovation is to start with a goal. Prior to diving into the details of designing your roadmap and developing new features, you should conduct strategic planning.To develop a solid product strategy, you must first grasp the market context in which you operate. This entails empathising with your clients’ problems, learning about competing solutions, and explaining why yours is superior.Every item of work that the team completes should have a link to product strategy. It directs both the work’s big themes and the smaller ones.

Breakthrough products arise out of nowhere. People are taken aback by these creative or revolutionary solutions. Behind every seemingly carefree launch, however, is a strong plan overseen by a product team dedicated to bringing ideas to reality. Vision, goals, and initiatives are all part of the product strategy.Everything you do is supported by your strategic foundation. Executive leadership and product leaders will work together to create a product vision.

Define high level plan

A high-level project plan is one that takes into account the resources, time, and goals needed to execute a project and tracks them over time. This plan focuses on the milestones that a team should achieve at various stages of a project. 

High-level project plans can also be used to track the progress of a project and provide information on how a team can adapt their efforts to accomplish targets if necessary.A defined end goal and a set of objectives that can contribute to a project’s completion are two of the most significant parts of a high-level project plan. This is because a high-level project plan concentrates on the project’s milestones rather than individual tasks. 

Consider what you want to accomplish at the conclusion of your project and the most important measures that can assist you and your team in completing it.If your project’s end goal is to produce a billboard, for example, your primary goal might be to reveal the billboard to the public. Securing a location, finalising a design, and erecting the billboard are all possible steps. Another point to consider in a high-level project plan.

Developing and marketing a product

Companies can diversify their target client bases and expand into new market categories by developing new products. When you’re ready to introduce a new product, a marketing strategy can help you connect with your customers before the product is distributed by generating interest and excitement. 

Your marketing plan should strengthen all touchpoints, make use of client data to enable targeting, and promote your brand from all angles. Throughout the process of developing your plan, keep the customer experience in mind. Your product marketing plan aids new customers in gaining interest, whether your organisation is generating new products or improving on existing ideas. 

Knowing how your product competes with its competitors, adapting your company’s culture around a brand, and committing resources to it are all important.Combining traditional marketing strategies like TV, radio, and print commercials with digital marketing trends like websites, social media, and emails allows businesses to reach a larger audience faster, for less money, and with less resources. Throughout the process, keep your customers in mind.Before your product reaches new market segments.

Conclusion

Whether the transition from product to platform succeeds is a critical topic. However, Microsoft is now seeking to breathe new life into Outlook by transforming it from a simple e-mail client to a platform that connects users to a variety of third-party services such as Uber, Yelp, and Evernote. The process of identifying what you want to achieve and how you plan to get there is known as product strategy. A product manager’s best path to innovation is to start with a goal. A high-level project plan is one that takes into account the resources, time, and goals needed to execute a project and tracks them over time. A defined end goal and a set of objectives that can contribute to a project’s completion are two of the most significant parts of a high-level project plan.