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What is a product vision board?
Although a product vision board can take many forms, it is actually a very simple tool. All you need to create it is a piece of paper and a pen. However, if you have such a need, you can also use templates or special programs available online to help you design a useful product vision board.
By giving the tool the form of a table, you will ensure its readability and transparency. It should contain all the most important elements related to your new product. As a result, a kind of canvas will be created on which you can place everything that is to be included in your solution.
Key elements of a product vision board
In the basic version, a product vision board consists of 5 key elements. However, it is worth enriching them with another 4, thanks to which the map will create a much more detailed image. Let us look at them all in turn:
1. Vision
This point should answer all questions about the sense of creating a new product. What will it be? What problems does it solve? Whom will it help? How will it change the market, and how will it differ from the competition’s solutions? So, think about why you want to offer consumers a new product, and make sure your vision is:
- Inspiring and motivating
- Ethical
- Concise and easy to remember
- Ambitious
- Not tied to a specific solution (it is the concept that counts, not the technology)
2. Target group
This is one of the most important elements of your product vision board. It answers the question of who and why will be the user of the new solution. Remember that no product is for everyone. Conduct an analysis of the target group and create buyer personas, thinking about why they need your product and how it will change their lives.
3. Needs
Here, we need to answer the question about the needs of future users of the product. What problems is your audience facing, and why do these problems need to be solved? Also, check if there are other ways to deal with these challenges besides your new product.
4. Product
Moving slightly away from the market and user perspective, focus on the product itself. Consider whether you have the necessary facilities to create it and whether it is even possible. Questions about the projected production costs and the possible advantage of your solution over the competition’s offer will also be important.
5. Business goals
At this point, try to put the new product in the context of your business. Think about whether it will help you achieve your goals and what impact it will have on your brand image.
6. Competition
The first of the additional categories is competition. Check who the other sellers are and how your product looks compared to theirs.
7. Sales organization
At this point, define your sales strategy. How are you going to make money, and how do you want to generate trades? How will you deal with the low popularity of the product at the very beginning? The answers to these and other questions will help you create streams that will take your audience to your sales and marketing channels.
8. Costs
Although we have already mentioned costs in general, here it is worth paying a little more attention to them. Ask yourself about the expenses for production, development, updates and distribution of your solution. Also, consider what its price should be.
9. Channels
The last point should give you answers to questions about the channels used to reach potential customers. Where do you want to advertise and sell? Will you cooperate with large distributors, or will you limit yourself to your own e-commerce?
Product vision board – summary
As you can see, creating a product vision board does not require a lot of work from you, and it can significantly facilitate the launch of a new solution. Thanks to it, you will stay focused on the most important aspects and see the bigger picture of your business. You can find even more advantages of the product vision board in the full article about it.
