Hello! My name is Bohdan Nahorniak. Before entering the IT field, I spent over four years working in digital marketing, contributing to the development of more than 100 projects in such industries as real estate, banking, telecommunications, and others. This experience allowed me to master various performance marketing tools, test hypotheses across different niches, and create effective strategies to achieve specific business goals.
Currently, I hold the position of Product Lead at Guru Apps by Universe Group. Here, I’ve had the opportunity to work on developing three products used by millions of people worldwide. In the fast-paced conditions of technological shifts and changing business goals, I’ve often faced the challenge of transitioning between different products. In this article, I’ll share practical tips to help product managers successfully adapt to new challenges and conditions.
Things to Note or Potential Pitfalls
The transition from one product to another is becoming an increasingly relevant topic for product managers today. With technological advancements, shifting market conditions, and evolving user expectations, product managers must be ready to adapt and pivot quickly. According to the Future of Jobs Report 2023, adaptability and flexibility are among the top skills employers expect from their workforce over the next five years.
Inserted screenshot and data from The Future of Jobs Report 2023
Thus, transition between products is not only a challenge but also an opportunity to develop key skills that enhance competitiveness in the job market. In this article, I’ll explore what to consider during such a transition, how to quickly adapt to new circumstances, and what challenges you might face in a new project. Since my experience is more relevant to B2C products, some of the recommendations can also be applied to other types of products.
What to Keep in Mind When Transitioning
When transitioning to a new product, it’s crucial to focus on the following key aspects to ensure a smooth and efficient process:
Handoff Plan for the Current Product
To prevent information loss and ensure a seamless transition, it is necessary to develop a clear knowledge and documentation transfer plan. Define key milestones, schedule meetings with the new responsible manager, and ensure all documentation is accessible.Introduction to the New Team
A new product means new people, so it’s essential to build productive relationships with the team. Hold one-on-one meetings with each member to better understand their expectations and the current state of affairs. Communication with stakeholders will help prioritize goals and gain clarity on existing challenges and opportunities.Market and Competitor Analysis
Before diving into the details of the new product, conduct a thorough market analysis to understand its position, growth potential, and competitive landscape. Key elements of such analysis include:Market size and growth projections. Assess the total market size, audience segmentation, and growth rates (CAGR). In-app markets, such tools as SensorTower, AppMagic, Asolytics, Kraftful, and AI-based automation tools can help with these tasks.
Key competitors and fast-growing players. Identify and analyze prominent competitors and rapidly growing companies. One tool we use in our team for competitor analysis is a functionality matrix, which highlights competitors’ strengths and weaknesses.
Example of a competitive analysis matrix:
Analyzing user feedback is another critical aspect of competitor research. It provides insights into what users value about competitors’ products and what they dislike, offering valuable input for building a product development strategy.
Product Analysis
After analyzing the market and competitors, the next crucial step is a thorough product analysis. The initial phase of working on a new product requires evaluating marketing metrics that indicate the effectiveness of acquiring new users.
It’s important to assess all metrics from the acquisition funnel and hold an introductory meeting with the marketing team to learn about key aspects of user acquisition, including their successful and unsuccessful experiments, GEO split, acquisition channels, target audience, and anything else that might contribute to a comprehensive understanding of the marketing strategy.
Next, we will dive into the product itself, with a detailed look at its components illustrated in the image.
It’s important to understand that product analysis is not a one-time action. It’s an ongoing process. In other words, when a product manager transitions to a new product, speed and the ability to absorb information efficiently are crucial.
Final Step: Strategy Formation
Once you’ve gathered all the necessary information outlined above, you can begin developing a strategy and breaking it down into specific tasks. Creating a roadmap with defined milestones and resource assessments ensures a transparent plan for the entire team.
Such strategic planning allows all stakeholders to clearly understand long-term goals, manage resources effectively, and improve key performance indicators that drive product growth in the market.
How to Adapt Quickly to New Conditions and Goals
Adaptation is a critical aspect of a successful transition. Based on my experience, here are four key tips that have helped me adapt much faster to new conditions:
Ensure Continuous Learning.
Dedicate 10–15 minutes daily to learning new aspects of the product, industry, or technology. This keeps you up-to-date with essential changes.Focus on Strengths.
Leverage your strengths and experiences to solve new challenges. This enables you to add value to the new product from day one.Proactiveness.
Engage proactively with the team, stakeholders, and customers to immerse yourself in all aspects of the new product.Extra Effort ("Extra Miles").
This is one of the most crucial factors not only for a successful transition between products but for overall professional performance. Let’s look at a small mathematical calculation to understand this:
A daily improvement of just 1% (1.01) over a year (365 days) can lead to significant results (37.8). This means that consistent, small daily improvements can compound into substantial achievements.
Conversely, putting in slightly less effort daily (0.99) over the same period results in a near-zero outcome (0.03). In short, going slightly beyond what’s expected each day will undoubtedly yield remarkable results.
Challenges You May Encounter in a New Product
During a transition, you may face various challenges. Let’s explore some of them:
Team Dynamics.
Interacting with a new team can be challenging due to differing working styles and communication approaches. To overcome this, stay open to feedback and provide constructive feedback to others.Uncertainty.
A new product often comes with many uncertainties, from technology to market conditions. Regular consultations with mentors or colleagues experienced in similar projects can help address this challenge.Fear of Failure.
Transition to a new product may bring the fear of making mistakes. However, it’s important to remember that failures are an integral part of growth. They provide valuable learning opportunities and pave the way for improvement.
Conclusion
The transition from one product to another is always a challenge, but it’s also an opportunity for the development and expansion of your expertise. Product managers must be prepared for change, proactively engage with new teams, and adapt to new conditions.
The key is to focus on your strengths and not fear setbacks, as they are part of the way to success. Remember, every transition is not only an opportunity to improve the new product, but also a chance to grow as a professional.
By the way, we’re always open to those with a burning desire to grow in this field!
