When it comes to product development, companies are overwhelmingly focused on solving for their customer’s needs, but that laser focus comes at a steep cost. Despite this emphasis, the real problem lies in the execution of that product’s development and the time it takes to get in customer hands. In fact, 94% of our respondents experience challenges in agility and minimizing time to value during the development process. Each delay costs money, brand trust and value. Sign up for our webinar to understand how inattention to a full product development mindset can cost your company real dollars and stickiness.
To better understand the impact of digital transformation in today's market, 3Pillar commissioned Forrester Consulting to survey digital product decision makers on how they strategize and prioritize digital product development. The findings were eye-opening. Three specific elements stood out.
Solving for the customer’s need
Understanding the customer and anticipating and meeting their needs today and tomorrow. This ranked as the top priority for 53% of the sample surveyed. How much of your digital products and services are informed by customer data?
Excelling at change
Knowing when to change course, hold fast, let go, and have the tools to do it with agility. This ranked as top priority for 13% of the sample surveyed. Are you able to rapidly adapt your digital solutions to changing business needs, customer needs, market conditions, and your competition?
Minimizing time to value
Putting the smallest solution to the customer’s biggest problems in their hands, monetizing it, and learning what to do next. This ranked as top priority for 13% of the sample surveyed. Are you minimizing your customers time to value?
David DeWolf is the Founder and CEO of 3Pillar Global. Since founding 3Pillar in 2006, he has guided the company to a leadership position within the Product Development Services sector. He is the co-author of the forthcoming book, The Product Mindset, Succeed in the Digital Economy by Changing the Way Your Organizations Thinks.
David DeWolf - President and CEO, 3Pillar Global
Jessica Hall is the VP of Product Strategy and Design for 3Pillar Global. As co-author of The Product Mindset book, she leads teams and clients alike to a successful product mindset implementation to ultimately build products customers want and grow businesses.
Jessica Hall - VP of Product Strategy and Design, 3Pillar Global
Chris Condo is a Senior Analyst with Forrester Research. He conducts research in Application Development and Delivery, focusing on DevOps and how technologies in this space are impacting software companies in their quest to deliver more features faster to their end users.
Christopher Condo - Senior Analyst, Application Development & Delivery, Forrester