When Product Management teams share the product roadmap proactively with customers, this results in several benefits to their company, here are some of the key benefits why we should be loving product roadmaps:
1. Help staying in-sync with customers:
Sharing your product roadmap with customers enables them to give you feedback on the planned features. They often suggest ways you can refine the planned features to better meet their needs.
2. Gaining an edge over competition:
If your customers are already talking with competition in the market and checking out other products, they may be hearing and seeing features and functions that may be lacking in your product. Though you are in a process to create or add something amazing; however, if your customers are not aware of what you have cooking, they may think that the competitor can better meet their needs.
3. Enhancement Requests possible:
Customers are much more apt to send you enhancement requests if you share the roadmap with them. This would only be possible if you make it easy for customers to submit enhancement requests right when they are viewing the roadmap.
4. Being future ready:
Most of your prospective customers will evaluate other products in addition to yours. If you share your Product Roadmap with your customers, they will know that you are future ready and willing to meet their demands. It also shows that you are thought leaders and pioneers in your field.
5. Avoiding Relationship Plateau:
Every relationship hits a plateau, even in business, and via sharing the product roadmap you will ensure that things are always new and exciting.