There is a broad range of Product Roadmaps that are available, but the product manager should know which one to use when and what is the objective of creating a product roadmap
Creating a product roadmap is important, as it could be your sales team losing a large contract because they are not able to showcase the future of the particular product to the customer. It could be the a group of analyst whom you want to reassure where the company is heading with the new product, or it could be helpful for a startup company to get the next round of funding from the VC’s or PE.
Broadly Speaking there are four different types of product roadmaps used extensively by Product managers today, which are.
- Marketing and Business Strategy
- Technology Roadmap
- Product vision Roadmap
- Platform Roadmap
Marketing and Business Strategy – This paints a picture that markets you are targeting on YOY basis, and how are you going to do that either by creating new products, acquiring new products, what would be the financial impact of these products based on the target market and customer segment to the company.
Product vision Roadmap – The vision product roadmap shows a big picture of where the industry or the sector is heading shortly, what the opportunity and the risk that the sector has. It also showcases how the product can use the industry trends and current momentum for its benefits to deliver better economic outputs.
Technology Roadmap – This shows the technology trends that are present in the industry for the product, It showcase when the product would get a new UI/UX refresh, and how the product would be taking advantage of the new and the future technology
Platform Roadmap – This shows the overall strategy of the company when to launch a product on a particular platform like iOS, Andriod, Windows, etc., and what portion of the target sales/revenues are focused on each platform.
If you think, other product roadmaps could help the current bread of Product Managers share your thoughts below..