As a business owner, you likely have a business plan to guide you toward your goals and growth, and to help plan for the future. Likewise, you need a plan for your products, so they can improve, grow, and continue to meet the needs of your customers.
Product developments are not random. They’re guided by a product roadmap aligned with the company’s long-term vision. This article explores the ins and outs of a product roadmap, the types of roadmaps, and best practices for crafting one.
What is a product roadmap?
A product roadmap is a strategic document that visually outlines the plan and timeline for a product’s development, including its anticipated features, updates, and improvements. It includes product goals, milestones, timelines, and resources, and prioritizes features based on customer needs and business goals.
Product managers use product roadmaps to communicate with the development team, stakeholders, and executives, facilitating decision-making throughout the product life cycle.
A product roadmap serves as a company’s internal compass, guiding product teams to prioritize initiatives, allocate resources, and stay aligned with overarching goals. Externally, a product roadmap acts as a communication bridge, providing insight to investors and stakeholders into the company’s product vision and plans.
Types of product roadmaps
- Internal roadmap for the development team
- Internal roadmap for executives
- Internal roadmap for sales teams
- External roadmap for customers
Product roadmaps come in various forms, each tailored to meet the specific needs of different audiences:
Internal roadmap for the development team
An internal roadmap for the development team is a detailed plan guiding them through the product development process. It should include technical specifications like API endpoints, data models, and dependencies, depending on whether your product is digital or physical.
Product managers collaborate with development teams to prioritize features based on user value, business objectives, and technical feasibility. Ideally, this type of roadmap includes estimated timelines for each feature broken down into sprints (short bursts of work focused on specific elements) or release dates aligned with the team’s capacity.
Internal roadmap for executives
An internal roadmap for executives is designed to showcase how the product roadmap aligns with the company’s overall strategic objectives and key performance indicators (KPIs).
It should clearly outline the budget, headcount, and other resources required to execute the plan successfully. Executives often want to see a risk assessment identifying potential issues and mitigation strategies included in the roadmap.
The product manager should highlight key milestones demonstrating progress toward strategic objectives, such as product launches, market expansions, or partnerships.
Internal roadmap for sales teams
An internal roadmap for sales teams highlights new features and customer benefits, focusing on how the product will help the sales team close more deals. When creating this roadmap, the product team should group similar features into themes. This will help sales teams emphasize both direct benefits and the value for customers.
📖 Read more: How To Build a Successful Sales Pipeline
External roadmap for customers
An external roadmap, also known as a customer-facing roadmap, is a visually appealing and simple explanation of the product’s future direction. It is designed to generate excitement and interest among customers.
This roadmap can appear on a company website or in a press release. It focuses on the high-level benefits and value customers will experience from new features.
Product teams can make these roadmaps interactive, allowing users to submit feature requests or up-vote features to foster inclusion in the product development process. However, avoid including definitive launch dates in external roadmaps, as this can lead to disappointment if deadlines are not met.
How to create a product roadmap
- Gather and analyze data
- Translate customer insights into features
- Prioritize features and initiatives
- Create a visual representation of your roadmap
- Share and iterate on your roadmap
Follow these steps to begin the product roadmap planning process and create a roadmap aligned with your strategic goals, communicates effectively with key stakeholders, and guide your team toward successful product releases:
1. Gather and analyze data
A product roadmap should build on user stories capturing the customer’s perspective. Begin by conducting user research to understand your target audience’s needs, preferences, and pain points.
Analyze market and consumer trends, competitor offerings, and customer feedback to identify opportunities for improvement and innovation.
Collaborate with your product management team, development teams, and marketing teams to gather insights from various perspectives. Use this data to inform your roadmapping process and ensure your direction is based on solid evidence.
2. Translate customer insights into features
After thoroughly researching your target customers, transform those insights into specific features to address their needs and desires.
At this stage, focus on generating a wide range of ideas without being constrained by resources or feasibility; prioritization will come later in the process. By clearly articulating your product vision and the features to support it, you can ensure the entire organization is aligned and working toward a common goal.
For example, a retail company might discover customers value inclusive sizing, leading them to propose offering products in a wide range of sizes. They can explore solutions like incorporating size-adjustable elements such as belts or drawstrings and providing detailed size guides to help customers find their perfect fit.
3. Prioritize features and initiatives
Knowing what features and initiatives to include in your product roadmap is just the beginning; determining when to build them and in what order is more complex.
Use a prioritization framework—such as the MoSCoW method (must-have, should-have, could-have, won’t-have) or the RICE scoring model (reach, impact, confidence, effort)—to rank multiple features and initiatives. Consider their value, feasibility, and alignment with your strategic goals. Collaborate with internal teams to ensure priorities are realistic and achievable.
4. Create a visual representation of your roadmap
Develop a visual roadmap communicating your product’s direction, key milestones, and customer benefits. Look at product roadmap examples for inspiration and use a product roadmap template or tool—such as a Gantt chart, a timeline view, or a Kanban board. Ensure your roadmap is easy to understand, visually appealing, and easy to change.
Consider creating multiple versions of your roadmap, such as internal roadmaps for development teams and external roadmaps for customers. Also, each product may require a custom roadmap tailored to its specific needs, rather than using the same roadmap for all products.
5. Share and iterate on your roadmap
Share your product roadmap with key stakeholders, including internal teams, executives, and customers, to gather feedback and buy-in. Consider hosting a roadmap presentation or using a collaborative document or platform to facilitate discussions and get input. Regularly review and update your roadmap based on new insights, changing priorities, and progress made.
Adopt an agile product roadmap approach allowing flexibility and responsiveness to market changes and customer needs. Continuously communicate updates and progress to keep everyone on the same page.
Product roadmap FAQ
What are the key components of product roadmaps?
Product roadmaps include a timeline for developing multiple products or features, prioritized initiatives, milestones, and metrics. These components help coordinate multiple teams as they pursue shared company goals.
What is the difference between product strategy and product roadmap?
A product strategy defines the overarching vision, business goals, and direction for a product; a product roadmap is a visual representation of how you will execute the strategy over time. The roadmap translates the strategy into actionable steps and deliverables.
Who is responsible for creating product roadmaps?
Product managers are typically responsible for creating and maintaining product roadmaps and collaborating with cross-functional teams to ensure alignment and feasibility.
