The power of product in an economic downturn
It’s a difficult road ahead for most businesses. Inflation is up. Revenues are down. Budgets and headcount are frozen or shrinking. But there’s a silver lining. These challenges are forcing companies to narrow their focus and invest in their biggest opportunity. But what is that?
In a word: their product. In a recent survey, Pendo and Mind the Product asked over 500 product professionals how their work and their companies’ priorities have changed in response to current economic conditions. What we found was a growing recognition of the importance of product and the people responsible for it. We also saw that businesses are rapidly embracing product-led growth (PLG) tactics as part of their greater strategy.
The results are clear: Product teams and the work they do are more important to overall business health than ever before.
In a word: their product. In a recent survey, Pendo and Mind the Product asked over 500 product professionals how their work and their companies’ priorities have changed in response to current economic conditions. What we found was a growing recognition of the importance of product and the people responsible for it. We also saw that businesses are rapidly embracing product-led growth (PLG) tactics as part of their greater strategy.
The results are clear: Product teams and the work they do are more important to overall business health than ever before.
