Challenges of implementing growth product management processes

Many problems can arise when using growth product management systems. The following are some of the biggest problems and their possible solutions.

Challenge 1 – Limited resources

The efficient application of growth product management techniques may be hampered by a lack of resources, including time, money, and labor.

Solution

Find and concentrate efforts on high-impact areas to strategically distribute resources and set priorities. Utilize technology, streamline processes, and automate repetitive tasks to maximize resource usage. Showcase the benefits and potential ROI of growth product management tactics to acquire more resources.

Challenge 2 – Organizational resistance

CEOs, team members, and other departments within an organization may be averse to change and the adoption of novel approaches.

Solution

Make a compelling argument for growth product management by highlighting its advantages and tying it to corporate goals. Key stakeholders should be informed of the justification and any positive effects to win their support. To promote a culture of experimentation and ongoing growth, encourage open communication, the sharing of success stories, and the celebration of victories.

Challenge 3 – Complex data analysis

It can be challenging to analyze and produce usable insights from vast amounts of data, especially when working with several data sources and sophisticated analytics software.

Solution

To facilitate efficient data collection, storage, and analysis, invest in data infrastructure and analytics. To assist the team in developing its data analytic capabilities, train and hire experts. Utilize techniques for data visualization to deconstruct complex information and effectively share findings with stakeholders.

Challenge 4 – Uncertainty and risk

The testing and calculated risks involved in managing growing products can cause uncertainty and failure-related fear.

Solution

Establish a fail-safe environment where failure is accepted as a learning opportunity and experimentation is encouraged. Establish a structure for risk evaluation and mitigation to lessen potential drawbacks. Encourage a growth mindset that values trying new things, failing, and iterating on concepts.

Challenge 5 – Cross-functional collaboration

Due to competing priorities, communication gaps, and divergent opinions, collaboration within functional teams, such as product, design, engineering, marketing, and sales teams, can be challenging.

Solution

To promote a culture of cooperation and open communication, schedule frequent cross-functional meetings, workshops, and feedback sessions. Encourage team collaboration on information exchange and idea generation. Develop effective facilitation and project management skills and adopt tools and processes such as RACI to encourage effective cross-functional collaboration.

Real-world example

“In my tenure at Medcan, it was abundantly clear how essential cross-functional collaboration was to the successful implementation of our growth product management strategies. For instance, when we were pioneering the launch of video consultations in Canada, we had to gain buy-in from across the organization. This meant crafting comprehensive presentations to engage everyone from the doctors to the reception staff, underlining the benefits and addressing potential concerns.

We also faced a significant challenge following the introduction of new legislation banning private healthcare. We had to reframe the way we talked about our services, making it clear that our offerings supplemented rather than replaced their existing OHIP coverage. This shift involved training staff at all levels, from sales to medical professionals, to effectively communicate this change to our clients.

When we launched a family plan for our Year-Round Care membership, we encountered difficulties with user research and insights. We found a solution by using the renewal process for individual plans as an opportunity to gather feedback about potential interest in a family plan. This required coordination across multiple departments, from marketing to customer service, to ensure a seamless and efficient process.”

- David Cyrus, MBA, Head of APAC Marketing at Staffbase, and former Product Marketing Manager at Medcan

In each of these situations, maximizing touchpoints across the organization and engaging in innovative problem-solving proved critical in overcoming the challenges GPMs faced.

By identifying these issues and implementing appropriate solutions, organizations can get beyond barriers and maximize the promise of growth product management. Adopting a development mindset, promoting cooperation, making the most of resources, and effectively utilizing data are essential strategies for putting growth product management techniques into practice.