Use visual tools like perceptual maps to show how competitors position themselves on dimensions like price/performance or simplicity/comprehensiveness.
When done effectively, competitive analysis can reveal opportunities that competitors have missed. Pro Tip!
Document your findings in a central, easily accessible place so stakeholders and anyone interested in your team’s work can quickly understand how the competitive landscape influences what you're building and releasing.
Setting measurable goals with OKRs Objectives and Key Results (OKRs) turn your vision and strategy into measurable goals that drive execution.
This framework pairs ambitious objectives (qualitative goals) with concrete key results (quantitative metrics) to balance inspiration with accountability.
When creating OKRs, start with 3-5 objectives representing the most important outcomes for your product in the next quarter or year.
For each objective, define 2-4 key results that measure success.
Make sure objectives are inspiring and align with your vision, while key results are specific, measurable, achievable, relevant, and time-bound (SMART).
For example, a streaming service with an objective to "Become the preferred platform for documentary content " might set key results like "Increase documentary catalog by 40%," "Achieve 25% of monthly active users watching documentaries," and "Reach 85% satisfaction rating for documentary recommendations." Review OKRs quarterly, scoring progress openly and reflecting on lessons learned.
Use these reflections to improve future OKRs, creating a cycle of continuous improvement .
Documenting your product strategy A well-documented product strategy bridges your inspiring vision and day-to-day execution.
Level 2 · Vision, Strategy & Roadmaps