What’s inside the report?
This year, we asked product professionals to share their experiences with adapting to uncertainty, how they imagine the future of their solutions with their product vision, and how they are delivering on their vision despite budget constraints and smaller teams. We compiled insightful responses from over 1400 product professionals worldwide and analyzed them to spot the latest trends.
Take a look at some of the highlights from the report below.
Report Highlights
Product strategy is a point of emphasis
Product strategy is the most valuable job to be done for product managers. The drivers of your product strategy and the approach you take to communicating it can play a big part in how effective your product strategy efforts are.
Increasing focus on outcomes over output
A majority of product managers show a marked preference for measuring success using outcomes instead of relying on the easier to track output metric. Most of these outcomes are business related so the next step is to focus on customer outcomes.
Alignment with customer feedback is crucial
Product managers are finding that customer feedback is one of the more effective drivers of their product strategy. They also look to customer needs and wants as the primary factor to consider when making priority decisions. Product managers can reinforce their focus on customers by incorporating more customer related outcomes in their measures of success.
Product organizations seek standardization through product ops
As product organizations scale, they are more actively looking for a standard way of tracking product activities and their related outcomes. This is most immediately observable in the trend toward consolidated product management platforms. A factor aiding this move to standardization is the increased adoption of product operations.
AI impacts products and how product managers work
During 2023, AI became a must-have technology for businesses, leading some organizations to adopt AI so they didn’t miss out. In 2024, product managers are taking a sober look at AI and taking a more reasoned approach to adopting it. They’re including AI in their product in a way that solves customer problems. They’re also using AI in conjunction with their product management tools to make their lives easier.