What is product strategy? It’s a question that many business owners and project founders ask, but don’t always get the right answer. Product strategy is more than just a plan for how to launch a product; it involves crafting a comprehensive roadmap for how to maximize long-term value from your product or service. To help us understand this concept better, let’s take a look at Gibson Biddle and his twelve-part series on product strategy.
Who Is Gibson Biddle?
Gibson Biddle is an experienced entrepreneur and product leader with decades of experience in developing successful products and strategies. He has held executive positions at some of the world’s most successful companies, including Netflix and Dropbox, so he knows what it takes to create winning products. He has published a twelve-part series on product strategy that delves into what it means to have a successful strategy for your business and products.
The DHM Model
One important concept from Gibson Biddle’s series is the DHM model. This model stands for “Discover, Hypothesize, Measure,” and it provides an effective way to create long-term value from your products. The idea behind this model is that you should use data to discover customer problems and needs, hypothesize about solutions or features you can provide, measure customer feedback on those solutions or features, then adjust your strategy as needed. Companies such as Slack, Airbnb, and Microsoft have all used this model successfully in their own strategies.
Proxy Metrics
Another key component of Gibson Biddle’s series focuses on proxy metrics—measuring user behavior to gain insights into how customers interact with your product or service. Proxy metrics allow you to track the various customer touchpoints throughout the buyer journey and provide valuable insights into customer behaviors such as engagement rates or conversion rates. By tracking these metrics over time, you can make informed decisions about where to invest resources in order to optimize long-term value from your products or services. Companies like Amazon have used proxy metrics very successfully in their strategies.
Conclusion:
Gibson Biddle’s twelve-part series on product strategy provides valuable insights into how strategic thinking can help create long-term value for businesses and projects alike. Through his work we learn about concepts such as the DHM Model and proxy metrics which are essential tools for any business looking to develop an effective product strategy. If you’re looking for further information about product management strategies, there are additional resources available from Gibson Biddle including self-paced workshops on Teachable (offering $200 off regular price) , daily newsletters on Substack , as well as other recommended resources . With these resources at hand , you’ll be able unlock the power of strategic thinking with ease!
