TEI 316: Tools CPOs use – with Anup Yanamandra

Insights on roadmaps, metrics, OKRs, and more for product managers It is a new year and this podcast is getting a new name. In a few weeks, the name will change to Product Masters Now. You don’t need to do anything to keep listening, but I want you to know the name change is coming—The Everyday Innovator™ will be renamed to Product Masters Now.  Chief Product Officers (CPOs) have many responsibilities, such as mentoring product managers, defining product strategy, leveraging cross-functional resources, developing products to meet an expected schedule, and more. They use tools to help them with these responsibilities. Joining us for this episode is a CPO who shares some of the tools he uses, including roadmaps, metrics, and OKRs. He knows a lot about tools as he is the CPO for Betterworks, a provider of enterprise OKR and performance management software. His name is Anup Yanamandra. Summary of some concepts discussed for product managers  [1:58] What are your responsibilities as a Chief Product Officer? My primary responsibility is defining the product strategy for the company. Increasingly, CPOs are also thinking about the user experience strategy. It’s becoming important for CPOs and product managers to dig into data and make decisions based on data rather than pure intuition. In my company, I help with hiring great people across the company and explaining why the company is going to win using its great product vision. Product advocacy, internally and externally, is important for CPOs. [5:42] How do you use roadmaps? I use PowerPoint or Google slides for my roadmaps. I structure these roadmaps very clearly. We start with the company’s high level goal. Then we identify two or three themes that we’re trying to build through the product or portfolio; it’s important to communicate these themes internally and externally. Next,  we create individual product ideas. We identify two or three big goals and create a slide for each one. Then we create more detailed slides under each goal, answering the questions, What is the business problem? What is the solution? What is the benefit? The roadmap will be slightly different for a new product than for a product that’s already in the market. When you’re launching a new product, the important questions are, What is the problem you’re trying to solve? Who is the persona that’s going to benefit? What is the core of the problem? When you’re creating a roadmap for a product that’s been in the market for a few years, you need to focus on four different types of problems: * How do we generate new sales? * How are we helping with renewables? * Technology infrastructure as your underlying frameworks change over time. * Support tickets that existing customers are logging. Put badges on your slides to show which features address each of these problems. This helps you be clear about why you’re creating each new capability and how it will benefit both your organization and your customer. [14:44] Do you use roadmaps at different levels? As a CPO, I like to have one roadmap slide that gives a high-level picture. I use a 12-18 month roadmap and break it down by quarter. This provides a strong foundation to build a great product. You must have a strong platform to have a successful long-term product strategy. As a CPO, I create a 4-5 page roadmap that highlights two or three goals to accomplish for each quarter. Then each director of a product line develops a more detailed roadmap, about 15 pages. All our roadmaps are available to everyone in our company. We’ve found that the 4-page, high-level roadmap is best to share with customers; once we have a commission, we can share the 15-page, detailed roadmap. [18:00] What metrics do you find useful? * Adoption: If no one is going to use the product,