Product Management

Insights from #mtpcon London 2023

Recently, I had the pleasure of joining Jasper, my 25Friday colleague, in attending #mtpcon London 2023. This prestigious event brought together top product management professionals, offering invaluable insights and industry trends. 

In the following sections, we'll dive into the key takeaways from speakers that we found particularly interesting for product professionals in the scale-up arena.

Article image

AUTHOR

Employee photo

Sybren van Putten

Product Management Consultant

Specialised in scaling SaaS products

October 2023

-

3 minutes

Embrace Change in the Age of Tech

Tim Harford, an economist and Financial Times journalist, kicked off the event by highlighting the importance of adopting cutting-edge technology and fostering organizational change. He stressed that the affordability, not sophistication, of products drives global transformation. Harford's emphasis on the necessity of organizational change in tandem with technological advancement is a key reflection of a growing trend in product management. In an era where technology evolves rapidly, it's crucial for organizations to adapt their structures and processes to stay competitive. This means embracing change as a constant and being agile in response to technological shifts. Also, this emphasizes the importance of explicitly including the intended systemic change in your product strategy, rather than focusing solely on the solution or even the technology.

You can watch Harford's entire keynote on Mindtheproduct.com

The impact of Advocacy in scaling products

Nilan Peiris, Chief Product Officer at Wise, emphasized the critical role of customer advocacy in product scaling. In a competitive market, word-of-mouth recommendations are invaluable. This trend underscores the need to create products that not only meet but exceed customer expectations, focusing on customer experience and loyalty. Wise's “10 times better product” approach to scaling through advocacy is in line with the contemporary product management focus on customer-centricity. As products become increasingly commoditized, creating a user experience that not only meets but rather exceeds expectations is essential for long-term success. Advocacy-driven growth, powered by satisfied customers, has become a leading strategy in the field. Wise's growth is a very striking example of this.

Peiris keynote is available on Mindtheproduct.com.

Mastering the Art of Failing

Marc Abraham, Product Director at Backbase, discussed the importance of failing effectively. The already widely adopted continuous improvement and agile methodologies see failures as opportunities to learn and refine the product. The point however is to fail effectively, instead of just failing at some point and trying to draw learnings from it. This requires extra attention to making concrete what determines success, and therefore also the moment and the indicators of failure.

Watch Abraham's entire talk here.

Shaping perceptions for effective Product Management

Randy Silver, Managing Director at Out of Owls. Silver - who has a ton of experience in the field that Jasper and I work in every day - highlighted the role of product managers as strategic influencers. Product managers are becoming key drivers of business growth, aligning product strategies with overall business objectives. Silver's insights reflect the evolving role of product managers and underscores the growing importance of aligning product strategies with overarching business goals, making product management a central part of a company's success strategy.

The video of Silver’s keynote will most likely be released in the next few weeks. Until then, we recommend reading his speaker's announcement. Also, Silver is co-host of the Product Experience Podcast, which is worth listening to. 

Embracing Villainy for Change

Randeep Sidhu, Former CPO at Reliance Health and former Head of Product for the NHS Covid-19 app, discussed the need for Product professionals to challenge the status quo and become change agents. Product managers should be encouraged to disrupt traditional thinking and drive meaningful change. This fosters a culture of innovation and bold decision-making. 

Until the full video registration of Sidhu’s talk is released, you may want to listen to Sidhu’s interview in the Product Experience Podcast.