What is a product feature?
A product feature is something that your product offers. It's a part of your product that gives it value and helps to differentiate it from other products.
Product features can be physical, such as the size and shape of an object, or they can be virtual, such as a website's search function. Product features must be specific enough to allow for their easy identification. They should also be able to stand alone and serve their purpose without requiring other elements of the product in order to function properly.
Why is it important to define product features?
It's important to define product features because they are what makes your product unique, and they help you communicate the value of your product to your customers. They're also the primary way that you can segment your market and identify who should be buying your product.
Product features are the attributes of a product that distinguish it from other similar products in the same category. They are what makes it different from other products, and they're what give people the reason to buy yours over someone else's.
For example, if you were selling a shopping cart app for e-commerce businesses, one of your main product features might be the "ability to process payments through Stripe." This is what sets it apart from other shopping cart apps: not only does it allow you to take payments online through an easy interface, but it also makes sure those payments are processed smoothly through Stripe's payment processing service.
Another example: let's say you're selling a food delivery app where customers can order groceries online and have them delivered the next day. One of your main product features might be "fast delivery time." Fast delivery time is one way that this app stands out from others like Instacart or Amazon Fresh: customers know their groceries will be delivered quickly
How do incorporate features into the product roadmap?
When you're creating a product roadmap, it's important to think about how each feature will help your users. This can be especially tricky if you're building something that has multiple purposes or uses.
3 Things to consider when deciding what features to include in your product roadmap:
- Value proposition: What problem does this solve? Why should someone use this? How does it make their lives better?
- Target customer: Who will actually use this? What are their goals and pain points? Do they have any specific needs that need addressing?
- Business goals: How will this feature help us grow our business? Does it align with our company mission statement?
Here are some tips to incorporate features into the product roadmap:
- Start by defining what makes your product stand out from other similar products on the market. What is it that makes customers want to choose yours over others? Is it the price? The quality? The convenience? Your company's reputation? Make sure that whatever it is, it's something that matters to people and makes them want to buy from you instead of someone else.
- Next, consider how those differentiating factors might change over time—and how they might need adjusting accordingly if they don't work as well as expected once implemented into production for the first time (or second time...or tenth time).
- Finally, take a look at your product from a customer's perspective, and consider how the market might be changing and what that might mean for you and your product. Think about how people could use it differently than expected or what new uses might open up as technology advances.
4 Types of Product Features
Product features are the specifications of a product. They are the building blocks that make up your product, and they can be broken down into three main categories:
- Core Features: These are the essential functions of your product. They may include things like search, save, or share.
- Value-Added Features: These are optional add-ons that can help you differentiate yourself from your competitors. For example, if you're selling an app that helps people plan their vacations, your core features might be the ability to search for flights and hotels, but your value-added features could include things like food recommendations or tour guides.
- Enhancement Features: These are changes that improve upon an existing feature in some way, for example, making a feature easier to use or more intuitive. It's important to consider enhancement features when you're planning out new releases because they can help make your product more compelling by addressing user pain points or adding additional functionality.
- Usability Features: These are features that make your product more usable, easier to understand, or more enjoyable for customers to use. They're also important because they help get people excited about your product, and can help grow brand loyalty as well!
How do product managers prioritize features?
Product managers need to prioritize features in order to stay on track with their roadmap. This means they have to figure out which features are important and which ones can wait until later.
Here are some ways that product managers prioritize features:
This is a great way to see what your competition offers and how customers react to their products. You can also look for gaps in their offerings and try to fill them with new features!
You can ask customers directly what they want or need from your product. This will allow you to identify pain points and feature requests that could be valuable in the future.
The best way to know if your product is ready for new features is by looking at how customers are using it right now. If they’re not using your product as intended, then there may be some problems with how it works right now!
Talking with real users can help you identify problems they face and find out if there are any features they’re looking for but aren’t getting from other companies.
You can use surveys to ask customers why they buy from you and what features they would like to see. This is a great way to find out if there are any issues that need fixing!
Tips to prioritize the features of a product
Prioritizing features is a difficult task, but here are 6 tips to help you make the decision.
- Find out what customers want and need: You can do this by talking to real customers or asking them in a survey.
- Map user journeys: How will your product fit into their lives? How does it look on paper or on screen?
- Look for gaps: What are the missing pieces? Do you have everything covered or is there something missing?
- Think about user experience: How does the product feel when people use it? Is it easy to use, or does it feel clunky and awkward?
- Create a list of features: What will make your product better than the competition?
- Prioritize features: This is the most important step! You need to decide which features are most important to customers and which ones they can live without.
- Test out your ideas with prototypes and mockups: Don’t spend too much time on this, but it’s important to make sure the idea works before spending too much money!
- Don’t forget usability and visual design: These two aspects are just as important as functionality and performance when it comes to creating a successful product!
- Identify pain points and gaps in the market: This can help you understand where people are struggling right now with existing solutions.
What is the difference between epics, features, and user stories?
Epics: Epics are high-level user stories that describe the major functionality of an application. They consist of multiple features and help teams manage large projects by dividing them into manageable chunks. Epics define what a successful project looks like and can be used to judge the progress of development or marketing efforts.
Features: Features are the smallest units of functionality that can be implemented in a project. They describe how specific parts of the application work and what they do for users. Features include requirements and acceptance criteria, which describe how to implement them.
User stories: User stories are short descriptions of a feature or functionality that a customer wants from your product. They help you evaluate whether the user is getting what they need, and they can also help you prioritize items on your roadmap. When creating an epic, think about what problem it's solving for customers and how many features will be involved in solving that problem.