How can you build and maintain trust with stakeholders through product vision communication?

Product visions are very important for product marketing. Without a clear strategy and product differentiation, you will have a tough time positioning your product and creating a compelling messaging framework. Therefore, remember you can play a vital role in supporting the product team: --> Help them understand the competitive landscape and the real alternatives to your product --> Help them highlight your product differentiator and how to improve such to be competitive --> Align your messaging with them to ensure that product development and messaging go hand-in-hand

One oversight that occurs when defining the vision of the product is the consideration of your current brand and audience. It is one thing to leap into a new market or product as a new brand, it is very different to introduce new product lines if you have a clearly established brand and audience. (e.g. if you are known as the affordable car brand, will you be taken seriously if you enter the luxury vehicle market?)

Consistency is key. In addition communication in a variety of channels will help. For example, internally there are newsletters, launch meetings, team meetings, town halls, and other ways to share the message to a variety of employees.

According to me, there are two major stakeholder in a business environment, Shareholders & Society. A product which will other than it’s usefulness to the end users, should be environment friendly & acceptable by the Society at large when talking about sustainability for a long time. By ensuring the same it can really able to protect the interest of Shareholders & Investors.

A well-defined product vision is the North Star that illuminates the entrepreneurial journey. It serves as the beacon of clarity, keeping you focused on the essential aspects of your business. Your product vision not only defines what problem you're addressing and who your target audience is but also highlights your unique selling points in a competitive landscape. This vision isn't just a destination; it's a driving force that propels you forward, reminding you why your venture matters and inspiring others to join your mission. It's the common thread that weaves together your team, investors, and customers, fostering alignment and a shared sense of purpose.

Understanding the diverse needs of stakeholders is akin to mastering the art of effective communication. Just as a product vision unifies your team, tailoring your message to different stakeholders is a crucial skill. Executives seek alignment between your vision and the company's strategic success. Sales teams require a vision that directly addresses customer pain points to close deals, while developers need a vision that translates into actionable technical details. In this entrepreneurial journey, it's not just about having a vision, but also about being adept at conveying that vision in a way that resonates with each group. This adaptability fosters trust and ensures that everyone is on board, working toward a common goal.

Demos are cool when you have a product but “stories” are the way to show your service (or rather, the value of your service)! Also data and graphics are useful but you need to explain them well, as we often think they are auto-understandable but they are not, so make sure you point out what you want them to see and digest it so they can understand…

Adapting messages for different audiences is simplified with tools like Aha!. They facilitate tailored communication, promoting transparency and confidence in decision-making. Emphasize the use of data and strong Voice of Customer (VoC) input in your communications. Recognize that not everyone may agree with your plan, often due to perceived "losses" like power, budget, or resources. Address these concerns to foster alignment, trust, and allies. Be open to changing direction. In cases where the team can't resolve issues, promptly notify stakeholders to prevent blindsiding. Consistently provide updates and celebrate achievements to keep stakeholders informed and engaged. Keep in mind, building trust and allies is a marathon, not a sprint.

By far, trust through transparency and honesty is #1 Once you lose stakeholder trust, anything you attempt to deliver would be (rightfully) questioned.

Involving the key stakeholders in the decision making process, especially when it comes to major changes or pivots, is another way of showing that their input is valuable and that different perspectives are taken into consideration. Taking responsibility for the outcomes of the product and its alignment with the vision is another way in which the trust of the stakeholders is gained.

People have very busy lives both at work and outside of work. Enablement and repetition are critical when communicating your product vision. Individuals inside your company may take a little time to learn it, and individuals outside your company will take even longer.

Feedback is one of the most important aspects of communicating your product vision. If you don't get and use internal and external feedback, then you are building an idea for one person or team. Additionally, building and tweaking your vision of the feedback is crucial as well for your vision to succeed.