3 answers
Director of Product Marketing at Quizlet | Formerly Udemy
Before prioritizing product initiatives, it's important to help your product team get a handle on the market and estimate the market opportunity. I usually work with an analyst to do competitive and market research that are inputs into a bottoms up revenue model. These early models contain a ton of assumptions, but it at least helps start a conversation around expected impact.
You can also follow up on qualitative insights you've gathered with bigger surveys to validate the "market sizing" of the problems and opportunities you've identified.
Another top-down way to go about this is to look at the total market size and think through how these features might enable you to take a bigger slice of the total market. Do plenty of due diligence here in your competitive research and try to also project what key competitors' strategies might be to help justify your position.
Vice President of Marketing at Snorkel AI
The goal of any new product/feature releases is to allow your business to
capture or retain slice of the market. It is important to have as much clarity
as possible before enbarking on any development.
Monetization or value creation is easy to gauge when similar features are
already offered in...more
VP of Product Marketing at Oyster®
Our job as product marketers is to help the organization maximize the capture of
market opportunity — whether that’s becoming more competitive, entering new
markets, increasing the value we deliver to existing customers, or numerous
other ways.
Thus I think it’s important to start with “what op...more
