exceed the expectations of their stakeholders , in addition to solving the real pain points of their users. However, the buy-in of the main stakeholders is an important part of this process, since the way they understand your ideas will make them move forward or block the success of this potential product. That's why we need to talk about buy-in with data.
Getting stakeholder buy-in is a magical art in itself , as there are several ways to achieve this. Here in this article, I will provide some examples, mainly of how to use data to your advantage at this time – especially since this challenge has increased a lot in the context of remote work.
It’s crucial to identify all of the project’s stakeholders at this point panama mobile phone number in order to successfully manage their expectations throughout the project, as getting buy -in for your ideas is a difficult task. However, it’s something you’ll need to achieve at all levels of the company – whether it’s a manager, an individual contributor, or even the CEO of the organization.
The bigger the company you work for, the more complex this work becomes. The more projects you have under your responsibility, the more important it is to get this buy-in.
The good news is that there are ways to get this work done to gain buy-in for your ideas, align stakeholders, and become a better communicator, especially using Product Analytics .
Let's understand better? Throughout the text, we will better understand the following topics:
Importance of getting stakeholder buy- in
Mapping needs and defining stakeholder hierarchy
Defining and understanding the stakeholder hierarchy
Meeting the needs and creating consensus of the parties
Presenting the idea
Techniques to validate the idea
Exposing the collected data
Creating the business model
How to get buy-in with data to reduce technical debt
My experience in this context
Assessing the impact of a technical problem
Communicating impact clearly
Come with me!
Importance of getting stakeholder buy-in
Why is getting stakeholder buy-in a complex and difficult activity depending on the context?
Simply put, you’re asking people to put their faith in you in a variety of ways, asking them to take a blind risk with the promise of a future reward. This is asking them to make a decision under the conditions of that risk , considering that significant things could happen in the process of moving forward with the proposed ideas.
When you’re dealing with managers and executive leadership, how much they “buy in” (i.e. the level of support they give you) determines pretty much every aspect of your life as a Product Manager on a daily basis from that point on. How much money they give you, how much support you have from other departments, how angry they will be if you make a mistake or misstep – it’s all dictated by how much they “buy in” to your idea in exchange for what you promise them about the future.
While the initial investment from senior leadership is important, you need to keep them engaged on an ongoing basis . This requires a deeper understanding of the leaders you are working with and the type of benefits they require to consider the initial risk worth it. For example, ask yourself:
Is what you are proposing good for the end customer?
Is it good for a manager?
Is it good for senior leadership?
Which sectors of the company does it benefit?
Does it fit into the company's long-term plans?
What possible outcomes are expected from the start?
What is the defining goal to be achieved?
By designing your pitch to answer as many of these questions as possible, you’re more likely to get the initial buy-in you need.
But remember: if there is one thing that senior management likes, it is results , numbers , benefits , efforts to achieve this in a short period of time, etc. In other words, more in-depth information. Crafting your pitch in this direction will go a long way toward unlocking the results you are looking for in the first place.
Pitching an idea requires more than just getting everyone in a room to agree that it’s worthwhile. It’s a balancing act of persuading your stakeholders that their business needs will be met, while also advocating for the needs of someone who isn’t in the room: the user.
Mapping stakeholder needs and hierarchy
As I mentioned earlier, it is of utmost importance to identify all project stakeholders upfront so that you can successfully manage their expectations throughout the project.
One activity that I think is essential at this time is to create a stakeholder map , this way you will have more control and visibility of the people you need to keep informed, with whom you have to work together, and with whom you share decisions.
The way I like to do this mapping the most is using tools like Miro , Mural , Jamboard and MindMup . There are several tools to support you, always choose the one you feel most comfortable with and that best meets your needs at the moment.
Another very good framework to understand how you can organize these communications is the RACI Matrix itself or Bruno Coutinho's spreadsheet .
Understanding and managing the types of stakeholders involved
The examples I provide here may not make sense for your current situation, or may be slightly different for some companies. But having knowledge can help you really understand how your organization may be structured and who can support you at this stage.
Senior management – Project plans and milestones should generally be approved by senior management during the planning and design phases of the project. They should be kept informed of the status of the project and of potential risks and impacts. Be objective with this information; senior management is a busy person and needs to know things straight to the point.
Project team members – Whenever possible involve team members in product planning, co-creation, but also provide direction and support.
Direct Manager – When you’re unsure about directions, ask for clarification and communicate frequently. Hold weekly meetings to maintain alignment and ensure everything is being clarified.
Peers – Explicitly ask for full support in building your product idea. Organize frequent review meetings, remember that you don’t work alone, bringing everyone together will give you a better chance of success in the end.
Strategic partners – Look for partners who can support the organization’s culture and business, communicate frequently, and make plans for constant improvements based on learning.
External customers, contractors and suppliers – These are individuals or groups outside the business. Delivering sustainable and essential information to this group is extremely important, and the data we collect over time usually helps in this communication.
There will always be more than one stakeholder, and the more stakeholders there are, the more conflicting interests there will be. Therefore, it is important to understand these conflicts and try to resolve them. Stakeholder expectations should be clearly stated and your role will always be to manage this as best as possible.
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