How do I prioritize product ideas?
Successful ideation involves collecting, curating, and promoting ideas into features. This ensures that key feedback and requests are seamlessly integrated into your product planning and development processes. It also allows you to confirm which ideas will add value to customers and the business.
The most effective method is to score ideas based on projected maximum value for both parties. The scoring mechanism for ideas should be meaningful and measurable, but high level enough so the team does not waste time evaluating ideas that will never get implemented. We recommend creating a scorecard to allow the team to quickly rank ideas as they come in.
For example, when we are capturing ideas, we evaluate them on two axes: impact and effort. This provides us with a simple, straightforward way to easily rank ideas as they are submitted. Other values that might be useful include sales or thought leadership -- but no matter which values you choose, they should always roll up to high-level impact.
Are you sitting on several submitted ideas? Here’s a quick checklist to manage idea scoring:
Ensure that information is complete
There are several ways to approve ideas. We suggest starting with a quick review of new ideas to determine if more information is needed. If this is the case for a specific idea, email its submitter. Doing so will start a dialogue about how this idea will enhance the product.
Merge duplicate ideas
Ideas that already exist should be merged so that you can reduce the list to unique ideas -- without losing the details and nuance of each request. When you merge two ideas, the one to which you merge should become the primary idea. All ideas merged from that point on thus become part of that group.
Rank based on score
Sometimes, you review an idea and know right away that it should be promoted to a feature. Other times, the value of an idea will be unclear. In all cases, you should quantify the value of features against metrics that matter to your business. Then, rank these features based on those scores. Use a simple "effort" scale to rank these features based on projected maximum return. Where possible, make ideas public so that all stakeholders can see them. This allows them to add comments, votes, and suggestions for each idea.
Promote ideas to features
Once an idea has proven value for customers and the business, the next step is to promote it to a product feature. When you promote an idea to a feature, a link is established between the original idea and its new, corresponding feature. This ensures that a feature's origin is always accessible. It also ensures that users who submit and subscribe to ideas are automatically notified when an idea is implemented as a shipped feature.
Respond to those who submit ideas and provide feedback
Responding quickly to ideas with, "Yay", "Nay", or "Soon" is helpful to the person who submitted the idea and anyone else who has visibility. But this also helps product teams communicate with stakeholders using transparency. It also reinforces product positioning and direction. When product teams practice idea scoring, it encourages quality discussion and additional insight. The result is happier teams building more lovable products.
- Introduction to product management
- What is the role of a product manager?
- What is a product?
- Which tools do product managers use?
- What skills are required to be a product manager
- What makes up the product team?
- What are some product management job titles?
- What is a typical product manager salary?
- How do product managers work with other teams?
- What does a product manager do each day?
- How can I learn to be a product manager?
- How do I choose the best product management certification?
- What are some interview questions for product managers?
- What is user experience design?
- How should product managers use wireframes?
- What is the difference: Wireframe vs. Mockup vs. Prototype?
- Introduction to product strategy
- What is product vision?
- What are product goals and initiatives?
- What is product positioning?
- What is product differentiation?
- How should I price my product?
- How should product managers research competitors?
- How should product managers define customer personas?
- What are some examples of a business model?
- What is enterprise transformation?
- What is digital transformation?
- What are the types of business transformation?
- What is the role of product management in enterprise transformation?
- What is customer experience?
- Introduction to product roadmaps
- What is a product roadmap?
- How do product roadmap tools work?
- What is a product portfolio roadmap?
- How do product managers build an agile roadmap?
- What product roadmap presentation templates do product managers use?
- How do product managers build the right roadmap?
- How to report on progress against your product roadmap?
- How do product managers build a roadmap for a new product?
- How often should roadmap planning happen?
- Introduction to product development methodologies
- What is product development?
- What is agile product management?
- What is the role of a product manager in scrum?
- What is a scrum master?
- What is kanban?
- What is waterfall?
- What is the Scaled Agile Framework (SAFe®)?
- What is the role of a product manager in SAFe®?
- What is agile development?
- Introduction to release management
- What are product features?
- What is requirements management?
- What is a product backlog?
- How do product managers prioritize features?
- Product prioritization frameworks
- What is user story mapping?
- How do product managers plan releases across teams?
- What is a sprint?
- What is the difference between a product, release, and sprint backlog?
- What is a good product launch checklist?
- Introduction to product management templates
- Product roadmap templates
- SWOT analysis templates
- Product positioning templates
- Business plan templates
- Competitor analysis templates
- Gantt chart templates
- Product requirements document template
- User story template
- Product manager resume templates
- Market requirements document template