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Product Management

Tunde Adeniran

<h3>A 360-degree approach with B2B roadmaps: Unleashing the power of customer feedback, internal stakeholder insights, and market trends</h3>
Product roadmapping is a crucial element of effective product management, involving strategic planning for product development and launch. To create a successful product roadmap, it’s essential to incorporate input from various stakeholders, including customers, internal teams, and market trends. By embracing a 360-degree approach, product teams can ensure alignment, gain buy-in, and streamline execution.
This article will explore the benefits of adopting a 360-degree approach to <a href="https://www.pendo.io/pendo-blog/how-to-use-the-product-management-life-cycle-to-drive-better-business-outcomes/?&amp;utm_source=mtp&amp;utm_medium=website&amp;utm_campaign=blog" target="_blank" rel="noopener">product roadmapping</a> in the B2B realm. We will also provide valuable tips for creating an impactful roadmap while incorporating customer feedback, internal stakeholder insights, and market trends.
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Let&#8217;s delve into the contrasting dynamics of consumer-facing and business-focused product roadmaps. In the case of B2C products, the roadmap is typically shaped by customer feedback. Since the end-user and buyer are often the same person (such as in phone apps or games), the product team prioritizes gathering insights from existing and potential customers to identify pain points and develop a product that addresses these needs.
On the other hand, the B2B landscape presents a more complex scenario. The average B2B buying process involves multiple stakeholders, potentially up to eight individuals. These stakeholders include the end-user who uses the product, the Champion who advocates for the product internally, the Economic Buyer who controls the budget, the decision-maker who holds authority over the transaction (which can be the same as the Economic Buyer or a separate individual), and an influencer who holds sway with the economic buyer or decision-maker. A successful sale requires alignment among these stakeholders, making B2B product sales a more intricate and time-consuming process that demands effective stakeholder management skills. I should mention that, with the advent of SaaS-based products and the implementation of Product-Led Growth (PLG) techniques, achieving alignment within the buyer&#8217;s organization has become less complex for SaaS products with Annual Contract Values (ACV) less than a certain threshold.
<h2>The pitfall of customer-driven product planning in B2B organizations:</h2>
In the realm of B2B organizations, the pressure to plan products solely based on customer priorities is a common pitfall. The rationale behind this approach often stems from a profit-driven perspective, where organizations seek to unlock greater revenues. In today’s highly competitive environment over 60% of B2B buyers say a vendor’s ability to differentiate itself through unique product features significantly influences their decision-making. Sales teams face relentless pressure to close more deals, and catering to buyer demands often seems like the easiest path to success. Product and engineering teams often find themselves under pressure to build entirely new features and close the gaps, resulting in a roadmap that becomes a mere reflection of buyers&#8217; wish lists.
I have seen this first-hand in my previous product roles and often pondered if an alternative approach was required to product roadmaps for B2B products. Traditional knowledge on product roadmaps often emphasises product teams infer the customer as the source of truth, and this is correct in a B2C context. However, in a B2B context, it often results in the <a href="https://www.pendo.io/pendo-blog/how-to-use-the-product-management-life-cycle-to-drive-better-business-outcomes/?&amp;utm_source=mtp&amp;utm_medium=website&amp;utm_campaign=blog" target="_blank" rel="noopener">roadmap</a> becoming the equivalent of a buyer’s wish list.
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The buyer&#8217;s wish list is a never-ending cycle: Initially, it might seem that the buyer&#8217;s wish list has an endpoint. However, organizations quickly realize that it is an ever-evolving cycle. As products are sold in new markets, industries, or to buyers with different profiles, the wish list continues to expand indefinitely. This constant demand can lead to burnout, underperforming teams, and internal conflicts over revenue shortfalls.
<h2>Aligning customer priorities with B2B product roadmaps</h2>
A deeper understanding of pain points is essential to align customer priorities effectively with B2B product roadmaps. Buyers often communicate their preferences based on their limited understanding and context, offering solutions instead of clearly articulating their underlying problems. To unlock true insights, it is crucial to work backwards and identify the core pain point through an approach like the &#8220;5 WHY&#8217;s&#8221;. For example, if a buyer requests a generative AI-based search bar, asking why repeatedly can reveal if the request is rooted in a genuine problem or is just a fancy idea without a solid foundation. Watch out for times when a buyer’s request could have elements of a genuine problem and a fancy idea.
In my previous roles as a product leader, I have encountered situations where I learned the importance of shifting the team&#8217;s focus to the core problem. Instead of solely catering to the requests of a single buyer, I emphasized the need to validate the problem by ensuring it was shared by multiple buyers. This process allowed me to refine the initial fancy idea presented by the individual buyer and transform it into a solution that aligns more closely with the overall vision of the product.
<h2>Delving deeper to understand stakeholders and impact</h2>
Once a problem is identified, exploring its depth within the buyer&#8217;s organization is vital. Understanding which stakeholders, such as the champion, decision-maker, economic buyer, or end-user, are affected by the problem provides valuable insights. The more stakeholders impacted, the greater the potential impact a solution can have.
<h2>Collaborating at the onset by aligning internal stakeholders:</h2>
One common mistake made by product teams is to take the B2C approach to roadmaps by developing a product vision, strategy, and roadmap based solely on customer or market insights, and then attempting to align internal stakeholders to the outcome.
This approach often leads to a counterproductive situation where teams struggle to convince stakeholders of their chosen approach. Instead, collaboration with key stakeholders should begin at the start of the roadmap process. Engage in smaller sessions to communicate the goals and long-term plans for the product, product releases, and more. Let the data speak for itself and serve as a guide, employing a design thinking approach to foster prioritization.
<h2>Tips for creating a 360-degree product roadmap</h2>
To create a comprehensive and successful product roadmap, it is vital to integrate customer feedback, internal stakeholder insights, and market trends effectively. Here&#8217;s how each of these factors contributes:
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       1. Customer feedback:
Customer feedback is an invaluable component of product roadmapping. However, it is crucial to approach it strategically. Rather than relying solely on customer requests and suggestions, focus on understanding the pain points behind those requests. By identifying core problems, you can develop solutions that address multiple pain points with a similar feature set. This approach leads to a more holistic and efficient roadmap that considers the collective needs of customers.
       2. Internal stakeholder insights:
Internal stakeholders, such as sales teams, developers, and executives, offer valuable perspectives that shape the product roadmap. Sales teams possess direct customer interactions and a deep understanding of their needs and preferences. Developers bring technical expertise and insights into the feasibility and scalability of features. They highlight technical limitations and constraints that shape the way the product is presented. Also, don’t forget technical debt. Executives provide guidance on long-term strategic planning and broader business goals, ensuring alignment between business and product. By incorporating these insights, the product roadmap reflects a comprehensive understanding of the product.
      3. Market Trends and Emerging Technologies:
To stay competitive in a rapidly evolving market, it is crucial to consider market trends and emerging technologies when creating a product roadmap. Market trends (i.e. Gen AI &amp; Stable Diffusion) provide insights into possible customer preferences, industry shifts, and emerging opportunities. By monitoring market trends, you can identify areas of growth and potential market gaps to capitalize on. Additionally, keeping an eye on emerging technologies allows you to leverage advancements and incorporate them into the product roadmap, ensuring its innovation and relevance.
<h2>Benefits of a 360-degree approach to roadmapping</h2>
Embracing a 360-degree approach to product roadmapping yields several significant benefits, including:
    1. Better alignment with business goals:
Incorporating customer feedback, internal stakeholder insights, and market trends ensures better alignment with overall business goals. By planning for scalability and long-term success, your product can be positioned strategically for future growth.
    2. Enhanced customer satisfaction:
Customer feedback plays a crucial role in improving customer satisfaction. You can develop features that genuinely meet their needs by understanding their pain points and addressing them effectively. However, it is equally essential to consider customer feedback within the broader context of business goals and market trends, ensuring your product remains relevant and competitive.
     3. Improved execution and stakeholder buy-in:
Incorporating internal stakeholder insights into the product roadmap leads to better execution and stakeholder buy-in. When key stakeholders are involved from the beginning, they have a deeper understanding of the product&#8217;s direction and are more likely to support its development and execution. This collaborative approach fosters a sense of ownership and teamwork, ultimately enhancing the chances of success.
<h2>Conclusion</h2>
By adopting a 360-degree approach to product roadmapping, B2B organizations can unlock the full potential of customer feedback, internal stakeholder insights, and market trends. Integrating these elements ensures a comprehensive and strategic roadmap that aligns with business goals, addresses customer pain points, and leverages emerging opportunities. Remember, a successful product roadmap is not just a wishlist, but a well-thought-out plan that combines multiple perspectives to drive innovation, growth, and customer satisfaction O.
Are you a B2B product manager? What’s your roadmap process like? Would love to hear your thoughts. Let’s discuss this in the comments.
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Taking a 360 degree approach to roadmaps

Tunde Adeniran

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