Episode 138: Strategies for Product Management in Fresh Markets with Chris Andrews, Chief Operating Officer and Head of Product at Rendered.AI
September 27, 2023
In this episode of Product Thinking, Chris Andrews, Chief Operating Officer and Head of Product at Rendered.AI, joins Melissa Perri to unveil the challenges and strategies involved in building products in new markets, as well as the unique aspects of product management in these markets. They discuss how product managers can introduce new market opportunities, the role of product management in new markets versus saturated ones, securing success in early-stage ventures, and navigating innovation in larger organizations.
In this episode of Product Thinking, Chris Andrews, Chief Operating Officer and Head of Product at Rendered.AI, joins Melissa Perri to unveil the challenges and strategies involved in building products in new markets, as well as the unique aspects of product management in these markets. They discuss how product managers can introduce new market opportunities, the role of product management in new markets versus saturated ones, securing success in early-stage ventures, and navigating innovation in larger organizations.
Before joining Rendered.ai, Chris held the position of Group Product Manager at Esri, overseeing the Geo Enabled Systems Team, responsible for an impressive portfolio of over twenty-five products that contributed to $45M+ in direct sales and an additional $100M+ through indirect channels.
Throughout his career, Chris has been at the forefront of strategic innovation. At Autodesk, he was instrumental in the product definition and validation of the first fully integrated desktop-cloud-mobile Hero product - Infrastructure Modeler (now rebranded as InfraWorks). Moreover, under his leadership, Esri's ArcGIS Earth was developed from its initial concept to production in just eight months, securing over a million downloads.
Beyond his roles in product management, Chris is a published author on Rendered.AI's Medium platform, discussing subjects like synthetic data. He's also scheduled to be a keynote speaker at an upcoming webinar titled "Using Synthetic Data to Enhance the Precision of Scalable Machine Vision in Manufacturing."
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You’ll hear them talk about:
- [04:55] - Introducing new market opportunities in product management differs from traditional lean startup methods or enhancing existing products in large firms. Many users struggle to see the value in entirely new tools or technologies. It's more than just picking between familiar products; it's about helping them envision revolutionary changes in their workflow. This mirrors the innovator stage of the technology adoption curve. The key is to find and collaborate with forward-thinking individuals, using their success stories to appeal to a broader audience.
- [08:38] - Pieces of product management differ when introducing a concept to a new market compared to a saturated one with great competition. The perception of risk varies, both within the organization creating the product and in the eyes of potential customers. For companies developing products in an established market, the dynamics and challenges differ. As someone who serves as the Chief Operating Officer and has had experience across various company levels, Chris has a broader perspective. It's not just about product management in isolation. Over time, especially with the shift to subscription models, product managers play a more pivotal role in influencing every phase of the customer journey surrounding a product.
- [10:00] - For early-stage ventures, securing executive buy-in, especially from the CEO, is crucial. Whether launching new products in established markets or exploring unexplored territories, top-level endorsement is often the difference between success and failure. On the customer front, it's vital to cultivate early adopter evangelists. These are more than just users; they're champions of your product. As the venture progresses, these advocates become foundational in nurturing a dedicated community around your product. While mature markets allow for data-driven strategies, early stages demand genuine supporters who grant you time to prove success and viability.
- [23:51] - In larger organizations, navigating innovation can be challenging. If a company isn't proactive about disruption, it'll be disrupted from outside. The key to maintaining focus on new markets lies in sustaining positive relationships with stakeholders. Beyond innovation, relationships are pivotal. The approach should be evidence-based, inclusive, and consistent. Think of it as a plane taking off; maintain momentum to achieve success.
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Previous guests include:
Tanya Johnson Chief Product Officer at Auror, Tom Eisenmann, Professor of Business Administration at Harvard Business School, Stephanie Leue, Chief Product Officer at Doodle, Jason Fried, Co-founder and CEO of 37signals, Hubert Palan, Founder and CEO of Productboard, Blake Samic, Former Global Head of Product Operations at Stripe and Uber, Colin Anawaty, Chief Product Officer of First Dollar, Quincy Hunte, Global Transformation Product Leader at Amazon Web Services, Ellen Chisa, Partner at boldstart ventures, and Leon Barnard, Education Team Lead at Balsamiq
Check out our Top 3 episodes:
- Episode 128: Scaling Product Operations with Blake Samic, Former Global Head of Product Operations at Stripe and Uber
- Episode 132: Simplicity by Design for Product Development with Jason Fried, Co-founder and CEO of 37signals
- Episode 153: Decoding the DNA of Successful Product Management with Quincy Hunte, Global Transformation Product Leader at Amazon Web Services