In the world of creating new products, setting clear and achievable goals is incredibly important for success. However, something that often gets missed is how important it is to have good evidence to support these goals. First, let’s start with a basic question: What are the specific numbers or measures we should be aiming for? This question is like our guiding star, showing us the way to our main objectives. But it’s not just about picking numbers; it’s also about figuring out in which direction those numbers should go.
So, let’s imagine that you set a goal to increase user engagement by 10 percent, but you’re only seeing an 8 percent improvement. The gap between where you want to be and where you are now is where evidence becomes really important. You need to examine what’s going on, find out what’s different, and figure out what actions will help you close that gap.
Start With the Evidence
Evidence isn’t just numbers; it can include things like feedback from users, research about the market, and trends in the industry. Evidence is like the glue that holds your plan together.
For instance, think about a situation where you want to make your online store better at turning visitors into customers. You might start by collecting evidence through things like talking to users and surveys to find out where things might be going wrong in their shopping experience. This information, combined with numbers like how many people click on your website and how many leave without buying anything, gives you a complete picture of how your product is doing.
What Are You Striving For?
Once you’ve gathered this evidence, you need to define what success means for your Product Goal. This means setting clear goals and specific ways to measure them. For example, a successful Product Goal could be to increase the number of people who buy something on your website by 15 percent within six months, while also making sure that fewer people leave your website without buying anything.
But just having evidence and clear goals isn’t enough. You also need to take action based on what you learn. When you find differences between your goal and your current situation, you need to come up with plans for how to make things better. In the case of the online store, this might mean trying out different website designs, making the shopping process easier, or giving personalized suggestions to customers to encourage them to buy.
Observe and Then Act
In summary, setting a strong product goal involves gathering and using evidence wisely. It’s about setting clear targets and figuring out what steps you need to take to reach them. Making decisions based on evidence helps you make smart choices, identify differences, and create a plan for success. By using evidence effectively, you can move forward in the world of product development with confidence and precision, making sure that your product goals are not just dreams but real achievements.
If you are interested in learning more about how to craft a strong Product Goal, get in touch with Ralph today!