Places and sources to find out about your customers and market
A listening post is a place or opportunity to hear about what’s going on in the market. It helps you find out about customers, prospects, your competition, and market trends.
A good network of listening posts should continually drip-feed market insights through to you and can be called upon when needed to answer specific questions. They help you become the ‘voice of the market’ in your business.
The infographic shows some of the most important listening posts for product managers. We bet you will be familiar with many of them already. However, rather than just using these on an ad-hoc basis, we believe product managers should systematically build and nurture their listening posts. It should be part of their objectives. Why? Because you need great insights to be able to create your product roadmap and propositions.
Each listening post has a different profile in terms of their cost, credibility, how long they take to set up, how responsive they are, and their time horizon.
If you’re managing a digital product, then the volume of data available to you can be vast. The challenge becomes sifting through all the data and pulling out relevant insights. You may still find that what you have is not conclusive and that you need to make a judgment based on the data combined with your other listening posts.
So, plan ahead… what type of insights will you need, when will you need them, and what’s the best way to get them?