Overview with tools, template, software, best practices and alternatives
Why do Product Teams do Reports?
Marketing is the bloodline of any business and product teams make marketing products efficient through their product reports.
Product teams generate reports so as to provide information about the status and efficacy of the product they are trying to sell to consumers. In addition, product reports provide concrete information about the product based on how the team has used the product. Some people who have used the product also write about it in their personal blogs, forums, and review sites. These can also serve as references for the team in generating the product report.
Reporting for product teams may also involve presenting information about the achievements of the team in marketing the product to the consumers. Such accomplishments can be about successful product sales, which may involve the number of products sold, the top target market of the product, and some testimonials from users. In addition, the team can also record their plans on marketing the product in the future. Product reports can also include actual and potential problems that the product is facing at present or will face in the future.
The report showcases the status of the product as well as how it manipulates the market trend. The product team may include information on their view on how their product affects the market at present, and how it will influence the trend in the future. Product information coming from these sources will also help the product team devise efficient training methods for their sales employees, enabling the team to present the latest features and market developments of the product.
How do Product Teams usually do Reports?
Product teams write reports about the product they are trying to market in order to provide useful information with other consumers and to promote the product.
In doing a product report, product teams value the conciseness and validity of information. The report should not be very long as it has to contain the salient points about the product. In addition, the data in the product report should be complete and accurate so as to be considered as valid.
Usually, product teams have experienced buying and using the product they are selling to people. This is to know the product’s benefits and disadvantages in the team’s own point of view, allowing them to understand the feedbacks coming from the product consumers. This is considered an important step in writing a product report, since one cannot give justice and conviction to a product profile without trying it first.
Aside from the perspective of the product team on the item, product reports can also integrate data coming from relevant personal blogs, review sites, and forums. These are accessible links that can provide unbiased information about the team’s product.
Typical questions/metrics/topics that are usually covered in reports Product Teams are doing
Reporting for product teams covers the following:
- How many prospects have you listed?
- How many marketing calls have you done?
- How many products have you sold?
- What is/are the benefit/s of the products or services you are going to present to the client?
- How many products are you planning to sell?
- How many prospects are you going to call?
- How many prospects have you contacted?
- What problems have you encountered?
- What are the potential problems that you will encounter?
- What are the most significant features and benefits of the products and services are you going to present to the consumers?
- What is the profile of your target clients?
- What are the competing products and companies that you encountered?
- What barriers will stop you in handling the products in the market?
Advantages & Best Practices of doing Reporting for Product Teams
Product reports present a number of advantages.
Reporting for product teams is an effective function of product management, in which the product team becomes a messenger of the market. Product reports generated by the team allow delivery of information about the market and the product to the marketing divisions that need data to perform crucial decision making.
Aside from centering on marketing and sales, reports generated by product teams now also encompass product designing and delivery. In addition, product teams also lead activities that establish, enhance, and allocate products and services to the marketplace.
Another good input on reporting for product teams is the usage of a normal tone. A product report does not have to be overly formal; a coherent and conversational tone is generally accepted. This allows the product team members to express themselves easily and confidently, allowing them to convey the message they want to tell the team.
Product reports also allow easy identification of actual and potential customers through interview and research. They also help determine the company’s issues and challenges, allowing the development of the products. Reporting for product teams also aid in the production of the marketing materials, including product brochures and leaflets, product website, and price lists.
Problems & Pitfalls Reporting for Product Teams usually has
While reporting for product teams has a number of advantages, it also has some disadvantages.
Reporting for product teams may involve interview and research in order to provide credible information about the product. This may be viewed as time-consuming as doing research and interview requires considerable amount of time, which can eat the team’s time intended for other tasks. The team may not be able to allot sufficient time for identifying and contacting prospects, preparation of marketing materials like product brochures and leaflets, and closing a sale.
Though, product reports help in identifying and quantifying the team’s issues and challenges, some of these conflicts may not be prioritized accordingly, which may result to poor intervention. In addition, the team may not be able to prepare a contingency plan if they lack the forecasting skills, leaving them helpless in case a problem emerges in front of the product team.
There are times in which the product team fails to focus on the ability of the current and new product to serve the team’s customer base. This will adversely affect the team’s analysis, testing, and communication with the customers. Also, potential market hindrances will not be easily identified as the team sets the release of the new product and service.
Why Teamreporter is great in doing Reporting for Product Teams?
Teamreporter is a reporting application that replaces status meetings with scheduled report mails. It helps the team yield reports with no meetings required.
Teamreporter helps product teams generate reports by notifying team members via e-mail, asking them to send information about the team’s achievements, goals, and conficts. Based from the responses of the team members, Teamreporter will yield a summary of information, which will be sent the next day.
Product team leaders are also aided by Teamreporter in their oversight of the team’s accomplishments, plans, problems, and overall performance. It can help business leaders identify the team players in the group, letting them inspire and motivate others to do the same. In addition, the team’s progress can also be tracked by the leaders using Teamreporter, as the gist of the members’ activities will be covered by the application.
The flexibility of Teamreporter is a great boost in reporting for product teams as it can be adjusted to the team’s workflow. Users can customize the report questions as well as the schedule of the reminder mails and reports. It can also be integrated into the team’s other existing applications. This feature of Teamreporter allows it to blend to a variety of business workflow.
The application allows users of a small team of four members to use it for free and signing-up only takes less than a minute. Users can also create their team and they are allowed to add team members right away. In addition, Teamreporter does not require extra software as it can be entirely used by e-mail and a web browser.
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Teamreporter is free for small teams (up to 4 members)