The process of defining the product vision and strategy to manage is known as SaaS product management. SaaS Product Management tells you what to build, and it's one of the most critical things you can do as a founder to ensure that you're building something that people want.

A product strategy framework can assist guide your business decisions by focusing on the purpose and value of your company's products and services, to choose . It aids in ensuring that all decisions are founded on the same set of ideas and values, so that everyone participating in product development understands where they stand.

Essential Eight steps for building your product strategy frameworks:

1. Customer Discovery

Customer discovery is the process of learning about your customers and discovering what they want from you. You must comprehend your consumers' needs, desires, pain areas, and objectives. You should also find out how much they are willing to pay for those items. And you'll want to know who their competitors are so you may learn from them or, if possible, beat them at their own game.

2. Track your KPIs

KPIs (key performance indicators) are measurable objectives that you establish to assess the effectiveness of an activity or process. KPIs can also be created for other aspects of your organization, such as sales or marketing. You can also hire Mean stack developers for guiding you in this tracking, with the help of tools like Google Analytics and Mixpanel.

3. Product Positioning

Making an UX/UI design of any Product and positioning it refers to a company's market place to its products which are based on their characteristics and benefits.

Product positioning refers to how you describe your product to potential customers, employees, and investors. It can be a single word or a few words that sum up how you see yourself in comparison to your competitors. For instance, "simple" or "powerful."

When it comes to SaaS solutions, there are two approaches to product positioning to consider: The first question is, "What does my product do?" The second question is, who does it serve?

4. Defining the “What” of Your Product

Before you can plan anything, you must first comprehend what your product is and why it exists. This entails answering some essential questions, such as "what problem does it solve?" What is the product's function? What are its value proposition and major user benefits? Who are the product's intended users (and why will they utilize it)? How can you set yourself apart from your competition by solving their problems in a novel way or offering something fresh and unusual that no one else does?

5. Determining the “Who” Behind Your Product

After you've determined the "What" of your product, you must determine the "How." This is an important phase since it will set your team up for success or failure in a variety of ways.

It is critical to identify your target audience in order to design a successful product. 

6. User Feedback and Validation

User input and validation are critical parts of the process because they assist you understand how your product or service is being used. It's critical to gather this information from a diverse set of people so that you can create something that appeals to a wide range of users.

7. Build your product roadmap

A product roadmap is a graphical representation of your company's product system. It displays the essential milestones, features, and projects that must be achieved in order for you to meet your business objectives.

8. Validate your roadmap

As you progress through your product strategy frameworks, you will be able to validate your product roadmap and make modifications as needed. After all, if there's one thing that matters in a SaaS firm, it's that your product is what customers want and are willing to pay for.