How often do you forget the difference between “advise” and “advice”? You might have read it somewhere, but you are most likely rushing to Google, aren’t you? Product managers, even the most experienced ones, often get confused between terms like product vision, strategy, and roadmap.
Although these three terms may share similarities, there is a major difference between product strategy, product roadmap, and product vision.
In this guide, we will discuss what product vision and roadmap are, how they are different, and how to create them.
What is Product Vision?
A product vision is a clear and inspiring statement that defines a product’s ultimate objective. It highlights what the product seeks to achieve over time, emphasizing the user experience rather than solely focusing on financial gains.
For a SaaS product, the vision statement should move beyond questions like, “How can I sell my app or product?” and instead focus on, “How will my product improve users’ lives or support them in meaningful ways?”
Understanding Product Vision
An ideal product vision statement is a concise declaration that captures the difference your product will make.
Consider the SaaS industry: if you’re developing a SaaS product, think about how it will benefit clients in both the short and long term. What makes it superior to competitors, and what extra value does it bring to the table?
Key Features of a Strong Product Vision Statement
A strong product vision statement embodies several key features, setting a solid foundation for a SaaS product roadmap or any other product.
- Inspiring: It should motivate those who bring the vision to life, fueling excitement and commitment. True inspiration goes beyond a focus on financial gain.
- Documented: Writing down the vision is crucial; it should exist beyond mere thoughts.
- Achievable: The vision should be realistic and attainable.
- Communicated: Although it may seem obvious - share the vision with everyone involved.
- Emotional: A powerful vision connects on an emotional level, making it memorable, encouraging practical action, and making the team members feel invested.
- Short: Ideally, the vision should be brief—one or two lines at most.
In a nutshell, a strong product vision inspires and motivates teams by giving them a clear sense of purpose. When team members understand how their work contributes to the broader goal, they feel more engaged in the product’s success. A well-crafted vision promotes collaboration and aligns everyone toward common objectives.
Product Vision Examples
Here are a few of the shortest, most practical, and user-focused examples of product vision statements:
- Google: “To provide access to the world’s information in one click.”
- Peloton: “Use technology and design to connect the world through fitness. Empowering people to be the best version of themselves anywhere, anytime.”
- Salesforce: “To empower companies to connect with their customers in a whole new way.”
- Uber: “Transportation as reliable as running water, everywhere for everyone.”
Beyond being user-centered, practical, and concise, these examples share another trait—they are intentionally vague.
Google’s vision doesn’t mention its search engine, and Uber’s doesn’t specify cars or bikes. Likewise, Peloton and Salesforce avoid detailing their specific products.
This vagueness allows companies to think beyond their initial offerings, providing flexibility to evolve without straying from their core vision. For instance, Peloton expanded to include treadmills, and Uber added buses and scooters to its transportation options.
An expansive vision still defines clear boundaries for what the company and its products aim to achieve. When ideas fall outside this scope, product leaders can rely on the vision statement to guide decisions and decline options that don’t align.
What is a Product Roadmap?
A product roadmap is a visual summary that outlines the vision and direction of a product over time. It explains the reasoning behind what’s being built, serving as both a strategic guide and an execution plan for the product strategy.
The product roadmap serves several purposes:
- It outlines the overall vision and strategy for the product.
- It facilitates discussions about options and planning.
- It provides a framework for executing the strategy.
- It aligns internal stakeholders around common objectives.
- It helps communicate with external stakeholders, including customers.
- In essence, a product roadmap is a shared document that highlights the product’s priorities and progress, ensuring everyone is aligned on both short- and long-term goals.
While it’s crucial to showcase what you plan to build, it’s equally important to clarify the reasoning behind these decisions. Each roadmap item should tie back to your product strategy, incorporating customer feedback and responding to market dynamics.
Key Components of a Product Roadmap
1. Features and Epics
Features are specific functions or improvements scheduled for development within a set timeframe. They are often grouped into larger categories called epics, which encompass broader work that may span multiple sprints or releases.
Features and epics should be prioritized based on their
- Business value,
- Customer impact
- Technical feasibility
Each feature should have a clear description and defined acceptance criteria.
2. Themes and Initiatives
Themes and initiatives represent the main focus areas of the product, helping to organize the roadmap into structured sections for a comprehensive view of development.
- Themes are often based on customer needs, market trends, or business goals.
- Initiatives are specific projects aligned with these themes.
3. Timeline and Milestones
A product roadmap should include a timeline indicating when each feature or epic will be developed or released. Milestones mark significant events or accomplishments, such as launches, beta releases, or major updates, helping to set expectations and track progress.
4. Dependencies and Constraints
Dependencies highlight connections between features or initiatives; certain features may require others to be completed first.
Managing dependencies ensures effective resource allocation and scheduling. Constraints, such as budget limitations or technical challenges, should also be noted and communicated in the roadmap.
5. Metrics and KPIs
The roadmap should incorporate measurable metrics and key performance indicators (KPIs) to assess product success.
Common metrics may include user engagement, revenue growth, customer satisfaction, or market share. Clearly defined metrics keep the team aligned with shared goals and support data-driven decision-making.
Examples of Different Product Roadmap Styles
Several styles of product roadmaps are commonly used:
1. Feature-Based Product Roadmaps
Feature-based roadmaps focus on the specific functionalities planned for the product. They typically provide detailed information on each feature, including its priority and estimated release date.
2. Agile Product Roadmaps
Agile roadmaps are flexible, adaptable plans that evolve based on changing needs and feedback. Their goal is to deliver value incrementally, promoting collaboration and adaptability throughout the development process.
3. Goal-Oriented Product Roadmaps
These roadmaps structure product planning around clear business and product goals, explaining the purpose behind each feature. Unlike feature-based roadmaps, goal-oriented roadmaps help teams focus on which features are most aligned with their objectives.
4. Outcome-Based Product Roadmaps
Outcome-based roadmaps prioritize achieving specific results or impacts. They focus on the value the product delivers to users or the business rather than simply listing features.
Key Differences Between Product Vision and Roadmap
Although the product vision and roadmap are interconnected and both essential to product development, they differ in several key ways:
1. Detail
Product Vision
The vision is a foundational statement that defines the overarching goal of a product. It is a broad, aspirational declaration that guides all organizational efforts.
A tech company might have a vision to “empower every person and organization on the planet to achieve more,” conveying the company’s purpose and long-term aspirations, inspiring employees and stakeholders alike.
Product Roadmap
The roadmap, by contrast, is a detailed, actionable plan that breaks the vision into specific steps. It includes schedules, milestones, and actions needed to achieve the vision’s goals.
If a company’s vision is to empower users, its roadmap might outline initiatives like launching new features, conducting user research, and implementing feedback loops.
2. Qualities
Product Vision
A strong product vision reflects the company’s core values and emphasizes future goals, underscoring the benefits of achieving them.
A sustainable fashion brand may have a vision of “transforming the fashion industry for a more sustainable future,” aligning with the values of its target audience.
Product Roadmap
The roadmap contains specific details such as defined goals, feature ownership, estimated timelines, and release plans. It clarifies responsibilities and outlines each development step.
A software roadmap might specify a new feature’s development timeline and assign tasks to team members.
3. Purpose
Product Vision
The vision serves as the core goal of the company or product. It inspires team members and aligns their efforts toward a shared objective, building a sense of ownership and motivation when everyone understands it.
Product Roadmap
The roadmap translates the vision into actionable steps, serving as a practical guide for execution. It ensures team alignment on the timeline and responsibilities.
A marketing team might use the roadmap to plan campaigns around product releases, promoting new features effectively.
4. Variability
Product Vision
The vision typically remains consistent over time, although it may be reviewed periodically to align with evolving company objectives or market conditions.
A company focused initially on a specific demographic might adapt its vision as it enters new markets.
Product Roadmap
The roadmap is more flexible and often adjusts based on project progress and market needs. Teams can reprioritize tasks and timelines as new opportunities arise.
If user feedback reveals a high demand for a feature, the roadmap can be updated to prioritize its development.
5. Ownership
Product Vision
The vision is usually crafted by senior leadership, such as the CEO, ensuring organization-wide alignment with long-term goals through a top-down approach.
Product Roadmap
The roadmap is typically created by directors or product managers who outline the steps to achieve the vision. They define tasks and assign responsibilities, ensuring accountability within the team.
6. Stage
Product Vision
The vision is the initial step in the product development process, setting the stage for the company’s strategic direction and informing all future decisions.
Product Roadmap
The roadmap is developed during or just before project tasks begin, with flexibility to update continuously throughout the project lifecycle, allowing teams to respond to changing conditions and feedback effectively.
When to Focus on Vision vs. When to Focus on Roadmap
A product vision statement shouldn’t be seen as a “final verdict” - it should remain adaptable to change when necessary. Determining the right time or frequency for reviewing your vision depends on factors like:
- Product’s development stage
- Market dynamics
- Customer feedback
- Evolving business objectives
Generally, it’s advisable to revisit the vision at least annually or during major product review and planning sessions. This review process allows you to assess the product’s performance and confirm its alignment with overarching goals.
Significant shifts in the market, customer base, or business environment—especially those affecting the product’s viability, desirability, or feasibility—are strong indicators that the vision may need adjustment.
Additionally, new or conflicting data that challenges your value proposition or product-market fit should prompt a re-evaluation of the vision and its foundational assumptions. This practice can reveal fresh insights and open up new opportunities for improvement.
Companies Changing Product Vision
Many businesses, including billion-dollar giants, have “reinvented” themselves to succeed. Here are a few examples:
IBM
IBM was historically a leading mainframe and computer manufacturer. By the early 1990s, however, it faced steep competition in the hardware market, culminating in an $8 billion quarterly loss in 1993.
Leaders decided to exit certain hardware segments, such as computer chips, hard drives, and printers, shifting their focus to software, IT consulting services, and computing research. This pivot restored IBM’s profitability and strengthened its reputation.
IBM continued to adapt in 2020, announcing a split into two companies: IBM, focused on cloud computing and AI, and Kyndryl, dedicated to managed IT services. While Kyndryl faced early losses, IBM remains an industry leader.
Amazon
Now one of the largest e-commerce platforms globally, Amazon started in 1995 as an online bookstore, branded as “Earth’s Biggest Bookstore.” Competing with retailers like Barnes & Noble, Amazon initially offered over 2.5 million titles. By 1997, when Amazon went public, few could foresee its expansion into e-commerce and cloud computing.
In 2000, Amazon launched Marketplace, enabling third-party sellers to list items, which expanded its product range and revenue. Then, in 2006, Amazon introduced cloud computing services, establishing itself as a leader in that industry.
Diversification continued with Kindle’s release in 2006, the acquisition of companies like Audible and Whole Foods, and the launch of Amazon Instant Video and physical stores.
Netflix
Netflix, which would eventually bring Blockbuster to its knees, began in 1998 as a DVD rental service. In 1999, it introduced a subscription model, allowing unlimited DVD rentals by mail. In 2007, Netflix pivoted toward streaming content, revolutionizing the entertainment industry.
Since this strategic shift, Netflix has expanded its streaming catalog and acquired major film rights from studios like Sony and DC.
Lesson learned: Continuously assessing market trends and evolving customer needs and adapting accordingly is necessary to thrive. Otherwise, a business can end up like Blockbuster or Nokia.
When to Focus on Roadmaps?
Product roadmaps are essential for showcasing future plans and outlining the timeline for new or updated releases. For frequent releases, the roadmap typically emphasizes development direction rather than strict deadlines.
Detailed roadmaps are particularly valuable during product launches, as they specify timelines, features, and milestones to ensure everyone understands their roles. Quarterly planning sessions also benefit from a clear roadmap, allowing teams to assess progress, make adjustments, and stay focused on short-term goals while aligning with the long-term vision.
A well-defined roadmap also aids in resource allocation, prioritizing features based on their anticipated impact. By organizing and prioritizing customer-requested improvements it helps meet customer demands, increasing satisfaction and loyalty.
Practical Steps for Building Your Product Vision and Roadmap
Creating a product roadmap is a pivotal step where vision, strategy, research, and reality converge into an actionable plan.
1. Define the Vision
Every roadmap begins with a clear vision outlining the product’s ultimate goal: what problem it solves and what value it provides.
- Who: Defines the target audience or users.
- What: Specifies the product’s functions and services.
- Why: Clarifies the purpose and value it brings.
A strong vision provides a foundation for the roadmap, ensuring all decisions align with this main purpose. If a product strategy already exists, review it to confirm it aligns.
Next, set specific, measurable, and time-bound objectives to support the vision. While the vision might be broad, like improving daily life, objectives should be concrete (e.g., launching a beta by a set date), guiding feature prioritization throughout roadmap development.
2. Collect Ideas
Conduct user research, gather feedback, and analyze market trends to gain insights into customer behavior. For existing products, internal teams interacting with customers can provide valuable input. Organize ideas into related themes or initiatives to manage them efficiently.
3. Prioritize Themes
With a clear vision and customer insights, prioritize features and initiatives that support the product strategy. Consider factors like customer impact, market demand, technical feasibility, and business goals.
A simple prioritization method is scoring each theme on a scale from 1 to 3 for feasibility and customer impact. High-scoring themes become top priorities. Other techniques include the RICE framework (Reach, Impact, Confidence, Effort) or the MoSCoW method (Must-Have, Should-Have, Could-Have, Won’t Have).
Collaborate with various teams for a balanced perspective.
4. Make a Visual Roadmap
Once themes are prioritized, create a visual roadmap that is easy for all stakeholders to understand.
Options include Gantt charts, timelines, or thematic representations. Clearly outline major releases, milestones, and phases with estimated timelines.
Balance realistic deadlines with adaptability to changes, as the roadmap should be a living document that evolves with the product and market conditions.
5. Communicate and Align
A strategic roadmap needs effective communication across the organization. Share the product vision and roadmap with all stakeholders, including executives, product teams, marketing, sales, and customer support.
Ensure everyone understands and supports the vision, goals, and initiatives, encouraging feedback and collaboration. Regular updates foster a sense of ownership and shared responsibility.
6. Measure Progress and Iterate
Developing a product vision and roadmap is an ongoing process. Regularly track progress toward goals and review the roadmap, collecting feedback from customers and stakeholders to validate assumptions. Updating and refining the roadmap helps it stay aligned with changing market conditions and customer needs, ensuring its relevance over time.
Product Vision Vs. Product Roadmap—You Need Both
A product vision provides a clear, motivating statement of a product’s long-term goals. At the same time, a roadmap serves as a visual guide, detailing the steps, features, and timelines needed to bring that vision to life.
Effective collaboration and communication across the organization are essential to meet these shared objectives. Regularly reviewing and updating both the vision and roadmap allows teams to stay agile, responding to market shifts and evolving customer needs.
Looking to transform your product vision into a successful roadmap? VeryCreatives specializes in creating fully customized roadmaps that lead to impactful product launches.
Our team can help clarify your objectives, prioritize tasks, and ensure everyone stays informed. Book a consultation call today, and let’s shape your idea into reality.
