4. Using Go-To-Market, Roadmaps, Metric Trees, and Bet Cards

Effectively communicating product strategy requires detailed planning, alignment with stakeholders, and tailored communication tools. Here’s a breakdown of key frameworks and documents that support communication and alignment in launching and managing products.

1. Go-To-Market (GTM) Strategy

A Go-To-Market (GTM) strategy is critical when introducing a new product. It’s more than a launch plan; it’s a document that aligns multiple teams, setting clear expectations and detailing how success will be measured.

Key Elements of a GTM Document:

• Define Success: Set clear goals and success metrics for the launch (e.g., number of users, customer feedback scores). These help all teams understand whether the launch met expectations.
• Test Period and Risk Mitigation: Identify potential issues, allocate resources for bug fixing, and create contingency plans. Technology inevitably brings unexpected challenges; having a written mitigation strategy helps prepare teams.
• Dependencies and Alignment: Successful launches require contributions from marketing, customer support, operations, and sales. Documenting dependencies and coordinating with all areas ensures a cohesive launch.

The primary purpose of the GTM is to align stakeholders. When written and accessible, it becomes a reference document, helping teams coordinate and giving clear guidance on each department's role in the launch.

2. Roadmap

A Roadmap is arguably the most powerful tool for aligning senior management with teams. Unlike a static schedule, it’s a dynamic sequence of initiatives that shows the flow of priorities over time.

Roadmap Best Practices:

• Alignment with Senior Management: Roadmaps provide a structured, sequential view of product initiatives, aligning with the Waterfall mindset that senior management often holds.
• Progress Tracking: A roadmap can track what has been completed and what’s in progress, making it easier to show results and changes over time.
• Fluidity: A roadmap must be adaptable, adjusting for new features, unexpected challenges, and other real-time changes. Regular updates keep stakeholders informed and aligned with current priorities.

A roadmap isn’t a Waterfall plan. It’s a flexible outline of the product’s direction, enabling both short-term agility and long-term strategic alignment.

Case Study: Roadmap in Action

At Memed, our quarterly roadmap was updated four times to reflect shifting priorities and unforeseen issues. We communicated each update to stakeholders, ensuring everyone was informed of changes and understanding trade-offs. For example, when a new feature required additional resources, we presented stakeholders with options, showing what we’d have to deprioritize to meet this new demand.

3. Metric Tree

A Metric Tree visually maps out all relevant metrics, showing how they connect and contribute to the overarching goals. This is particularly useful when making trade-offs or decisions that affect different parts of the product.

Benefits of a Metric Tree:

• Structured Trade-Offs: When prioritizing between competing metrics (e.g., customer satisfaction vs. revenue generation), a metric tree clarifies how each decision impacts the broader strategy.
• Data-Oriented Decisions: Especially useful for junior PMs, metric trees offer a reference for understanding how each metric impacts the company’s top-line goals.
• Transparency in Decision-Making: By visually connecting product metrics, the metric tree communicates the reasoning behind prioritization choices, facilitating buy-in from the entire team.

While not primarily a communication tool, a metric tree provides essential insights into how decisions are made, supporting strategic alignment and helping teams see the bigger picture.

4. Bet Cards

Bet Cards are individual documents detailing each initiative, or “bet,” to be undertaken. Each card provides a thorough breakdown of the initiative’s purpose, metrics, stakeholders, and risk factors. Bet cards ensure all team members and stakeholders are on the same page regarding specific projects.

Structure of a Bet Card:

• Problem Definition: Clearly describe the issue or opportunity the initiative addresses.
• Target Audience: Identify who will benefit from the solution.
• Success Criteria: Define metrics to assess the initiative's impact.
• Risks and Contingencies: List potential obstacles and mitigation plans.

Benefits of Bet Cards:

• Detailed Prioritization: With detailed information on each initiative, prioritizing becomes clearer and more grounded in data.
• Cross-Functional Collaboration: By including input from marketing, sales, and other relevant teams, bet cards ensure alignment on shared goals and help prevent misalignment on expectations.
• Product Review Sessions: At Memed, weekly product review sessions involve presenting bet cards to stakeholders and other PMs, allowing for Q&A and ensuring everyone understands the initiative and its rationale.

Example Bet Card:
The Memed bet card template includes:

• The problem to be solved
• The audience that will benefit
• Criteria for success
• Key risks
• Go-To-Market plans, if applicable

This document centralizes information and provides a clear reference, fostering shared understanding and commitment across all teams.

Conclusion

Using these tools—GTM documents, roadmaps, metric trees, and bet cards—product teams can communicate strategy effectively and ensure that stakeholders, senior management, and teams are aligned. Each tool has unique strengths, and by combining them, product leaders can create a cohesive strategy that adapts to company needs, market demands, and team capabilities.

Test these tools, iterate, and customize as needed to find the best fit for your product and company. Adaptation and flexibility are key, as no single approach fits every context perfectly.