Navigating Uncertainty: Craft.io's 2023 State of Product Management Report Reveals Product Transformation as the Key to Business Survival

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Craft.io

17 Jan, 2023, 16:00 IST

The survey uncovers valuable insights on the evolution of product as a critical role in business growth.

NEW YORK, Jan. 17, 2023 /PRNewswire/ -- Craft.io is delighted to announce the release of the 2023 State of Product Management Report, a data-driven survey of 500 product professionals from the US, Canada, UK, Germany, France, and Italy.

Craft.io is an end-to-end product management platform with built-in best practices, allowing product teams to make smart product decisions, and tell a compelling product story. Founded in 2015, Craft.io is the leading product management platform enterprises trust to build great digital products with confidence.

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Craft.io’s 2023 State of Product Management Report uncovers an in-depth look at modern product management and significant key takeaways for teams on their path to building great products. (PRNewsfoto/Craft.io)
Craft.io’s 2023 State of Product Management Report uncovers an in-depth look at modern product management and significant key takeaways for teams on their path to building great products. (PRNewsfoto/Craft.io)

"We commissioned this report to get a true picture of the most urgent challenges for today's product managers," said CEO and Co-founder, Elad Simon. "What we uncovered is that product-driven growth is key to a thriving business, now more than ever. The data shows that teams need a well-defined product process to enable success, that the role of Product Ops is increasingly vital, and that elements like visualization of the roadmap are being underestimated in importance. The report findings truly validate our mission at Craft.io. As we head into 2023, product transformation is the key to surviving uncertain economic times."

Highlights of the report include:

  • A well-defined product process sets teams up for success. 26% of respondents believe a well-defined product process is the key success factor for product teams, and yet only 31% of product teams have a well-defined and well-followed product process in place.
  • Visualization is a key factor for best-in-class roadmapping: 34% of respondents call out visualization as a core challenge in roadmapping. The bigger the company, the more of a struggle, as this number jumps to 41% in companies of 5,000+ employees.
  • Product Operations is now table stakes. 98% of product teams either already have a Product Ops role in place, or plan to have one in 2023. In addition, 84% agree that Product-led Growth is important for product success.

Download your copy of the 2023 State of Product Management Report here.

About Craft.io

Founded in 2015, Craft.io is an award-winning product management platform enterprises trust to build great digital products with confidence. Thousands of product professionals from companies such as Kimberly-Clark, Marks & Spencer, SAP, Cisco, and Fannie Mae, use Craft.io to manage the entire product management life cycle, make smart product decisions, align their teams, and tell a compelling product story.

Contact details:
Maya Dror Melamed
[email protected]
www.craft.io

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SOURCE Craft.io