Product Strategy Canvas
Creating a product strategy is a job that most product folk do quite rarely, often under pressure and with not enough time.
Because PMs don't create strategies regularly, many of them aren't natural at the process, so when we need to create one, there’s a good chance we freeze. When we recover from the foetal position, we wonder, “where on earth do I start?”
Enter the Product Strategy Canvas: a tool designed to be repeatable, flexible, and lightweight. Drawing inspiration from various successful models, we aimed to simplify the intricate process of strategy creation, catering to those who find it daunting or simply lack time.
We're mindful that one size doesn't fit all. This might be a lot to wrap your head around for junior product professionals or those just starting out in product management. Having said that, knock yourself out and give it a go. If nothing else, you’ll learn a lot. For seasoned directors of product, CPOs, or experienced strategists, you likely have your own approach, but there might be something useful here for you as well.
By streamlining the process and focusing on three critical areas (the state of the business, market and product), you can concentrate on the substance of your strategy and the collaboration it demands.
The canvas serves as a beacon, lifting you from the quagmire of your backlog to provide a clear view of the bigger picture, enabling you to chart a strategic course for your product.
The Product Strategy canvas is a MIRO template that helps product leaders craft a product strategy by following a step-by-step process of gathering data and then using that data to articulate key focus areas that help inform goals, roadmaps, and plans.
This canvas is ideal for Product Managers and Product leaders who wish to follow a repeatable process in order to gather the insights needed to make difficult prioritisation decisions in the form of a Product strategy. This is helpful when you're low on time, do this process rarely and/or wish to approach it collaboratively.
We’ve tested and iterated our canvas with clients, workshop participants, and industry mates and we now proudly share the Product Strategy Canvas in Miro for free under a Creative Commons Licence.
To make the most of this canvas, create a copy and try to fill in each frame without getting stuck. If you don't know the answer, capture the name of someone who does. Once all three input frames are filled in, you should have enough insights to decide on what your team(s) will focus on, in other words, to create a product strategy.
This template was created by Brendan Marsh (Organa).
Discover more product strategy templates to help you build your next big thing.
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B2B – Product Journey Map & User Network
Works best for:
Planning, Product Management
The B2B Product Journey Map & User Network template helps product teams visualize and understand the complex journey of B2B customers. By mapping user interactions, pain points, and touchpoints across the buyer's journey, this template provides insights into user behavior and preferences. With sections for analyzing user needs, identifying opportunities, and optimizing user experiences, it enables teams to design tailored solutions and drive customer satisfaction. This template serves as a strategic tool for enhancing B2B product offerings and maximizing customer value.
Conversion Funnel Backlog Template
Works best for:
Decision Making, Product Management, Prioritization
If you’re working on a product that has clear conversions, then it can help to structure your backlog around the conversion funnel to make sure you’re reaching your audience. Creating a conversion funnel backlog brings together information around potential pain-points in your funnel and opportunities for growth. Once you’ve identified that information, it becomes easier to prioritize. You and your team can use the conversion funnel backlog to focus on conversion, retention, and referral, or to tweak your workflow in more mature products.
Cross Functional (Swimlane) Chart
Works best for:
Flowcharts, Mapping, Diagrams
The Cross Functional (Swimlane) Chart template offers a visual tool for mapping out processes or workflows with multiple stakeholders or functional areas. It provides swimlanes for organizing tasks and responsibilities by department or role. This template enables teams to visualize process flows, identify handoffs, and improve coordination and collaboration across functions. By promoting transparency and accountability, the Cross Functional (Swimlane) Chart empowers organizations to streamline workflows and drive cross-functional alignment effectively.
Product Roadmap by Petra Ivanigova
Works best for:
Product Management, Roadmap
Plan your product journey with the Product Roadmap by Petra Ivanigova. This template helps you outline key milestones, set priorities, and visualize your development path. Use it to align your team, ensure everyone is focused on the same goals, and keep stakeholders informed. Ideal for product managers and teams looking to streamline their planning process and achieve strategic objectives efficiently.
5S Template
Works best for:
Strategy and Planning, Productivity
The 5S Template offers a systematic framework based on the renowned 5S methodology: Sort, Set in order, Shine, Standardize, and Sustain. Originally derived from Japanese manufacturing practices, this template provides clear directions to help teams optimize workspaces. A standout benefit of using this template is its capacity to drastically improve efficiency. Every resource and tool is positioned for maximum productivity by guiding users through decluttering and organizing, reducing time wastage, and enhancing overall workflow.
BPM
Works best for:
Diagramming
The BPM (Business Process Management) template is a visual tool for modeling, analyzing, and optimizing business processes. It provides a structured framework for documenting process flows, identifying bottlenecks, and improving efficiency. This template enables organizations to streamline operations, enhance productivity, and drive business performance. By promoting process transparency and agility, the BPM template empowers teams to achieve operational excellence and deliver value to stakeholders.