I love talking about how Product Management can be valuable at companies, and I was inspired to talk specifically about how some companies had to make a hard pivot from their initial vision when they started listening to the market — and how Product Management ensured they would be successful.
In these cases, extreme product pivots were a survival tactic, stemming from sharp market insights, evolving consumer needs, or disruptive technologies. Let’s dive into some epic product pivots driven by market intelligence and see why listening to your product managers (PMs) can make all the difference.
The PM’s Role: More Than Just a Gatekeeper
Product managers are at the frontline of market engagement. They’re not just gatekeepers; they’re the visionaries who can see beyond the current horizon. Here’s why paying attention to your PMs can turn a potential disaster into a triumph:
Slack: From Gaming Flop to Communication Hero
Slack’s story began with Glitch, an online game that flopped spectacularly. But the internal communication tool they developed caught the team’s eye. Sensing a larger market need for streamlined team communication, they pivoted. Today, Slack is a critical tool in workplaces worldwide. This shift wasn’t just luck—it was a PM-driven insight that saw potential where others saw failure.
Twitter: From Podcasting Afterthought to Global Pulse
Twitter didn’t start as a microblogging giant. It began as Odeo, a podcasting platform. When Apple announced its iTunes podcast feature, Odeo’s future looked bleak. The PMs saw an opportunity in the rise of real-time information sharing, leading to the birth of Twitter. This pivot shows the power of market observation and quick, decisive action.
Shopify: From Snowboards to E-Commerce Dominance
Shopify’s journey began with a failed attempt to sell snowboards online. Founder Tobias Lütke, frustrated with existing e-commerce software, built his own platform. Realizing that this software could solve a much larger problem, Lütke pivoted to focus on providing an e-commerce platform for other retailers. This bold move transformed Shopify into a leading e-commerce solution, empowering countless businesses worldwide. The pivot was a direct result of Lütke’s PM intuition and market insight.
The expert.ai NL API Pivot: A Masterclass in Market Responsiveness
Transforming Accessibility
Under my leadership, expert.ai pivoted towards making their sophisticated NLP technology widely accessible. Originally exclusive to large enterprises, the launch of the expert.ai Natural Language API (NL API) allowed a broader audience of data scientists and engineers to tap into their capabilities1. This move democratized access to powerful tools, driven by acute market awareness and a PM’s strategic vision.
Pandemic-Driven Demand Surge
The COVID-19 pandemic changed business operations globally, accelerating the need for AI solutions. Expert.ai’s pivot to a more accessible API format was a direct response to this surge, demonstrating how timely product adjustments can capture new market opportunities2.
Why Listening to PMs is Crucial
Market Pulse Masters
PMs have their fingers on the market’s pulse. They know what customers need, what trends are emerging, and where the industry is headed. Ignoring their insights means missing out on potential gold mines.
Strategic Agility
Successful pivots often hinge on agility. PMs are trained to be flexible and adaptive, capable of steering the company through turbulent times with calculated shifts.
Risk Mitigation
PMs can identify risks and opportunities early on, providing a strategic buffer against potential pitfalls. Their foresight can prevent disasters and pave the way for innovation.
Visionary Leadership
PMs are not just managers; they’re leaders who can inspire and drive transformative changes. Their ability to envision and execute pivots can turn a company’s fate around.
Conclusion
Extreme product pivots underscore the critical importance of listening to your product managers. They are the navigators who can steer through market upheavals and identify new horizons. By valuing their insights and trusting their instincts, companies can transform challenges into opportunities, ensuring long-term success and innovation.
https://techround.co.uk/interviews/interview-with-luisa-herrmann-nowosielski-head-of-product-management-at-expert-ai/
https://techround.co.uk/interviews/interview-with-luisa-herrmann-nowosielski-head-of-product-management-at-expert-ai/
Truly inspiring stories! Maybe there are also stories where everything worked according to plan?