Managing a large product portfolio with limited team members

The State of Product Marketing 2024 report found that nearly 80% of product marketers come from smaller teams of around 1-5 people.

However, despite the prevalence of smaller product marketing teams, 27.6% of product marketers support six or more products.

This striking contrast highlights a potential strain on company resources and a need for highly efficient, scalable processes.

In this article, we focus on how to streamline your processes for maximum impact, including:

Strategies for managing a large product portfolio with limited team members
Structuring your team for efficiency
How to simplify and focus your product portfolio

Strategies for managing a large product portfolio with a small team

Managing a large product portfolio with a small product marketing team can certainly feel overwhelming. However, this challenge is far from insurmountable.

There are a variety of strategic approaches you can implement to make juggling multiple solutions more manageable and your work life a bit easier.

Prioritize ruthlessly

When resources are tight, focusing on the most impactful products or features is key. It’s all about putting your energy where it counts the most. For example, frameworks like the Eisenhower Matrix can help you sort tasks into categories:

Urgent and important,
Important but not urgent,
Urgent but not important, and
Neither urgent nor important.

This makes it easier to spot which products or initiatives should be at the top of your list.

Another useful tool is the ICE (Impact, Confidence, Ease) scoring model. This framework helps you prioritize your product backlog by evaluating each item’s potential impact, how confident your team is in delivering it, and how easy it is to implement.

By using these methods, you can ensure that your team is always focused on the initiatives that will make the biggest difference.

Implement agile methodologies

Breaking your work into smaller, manageable sprints allows your team to stay flexible and responsive to changing priorities and customer needs. Regular stand-up meetings are a must for keeping everyone on the same page regarding project status, obstacles, and next steps.

This routine of frequent check-ins helps keep momentum high and ensures everyone has visibility into what’s happening across the board.

For example, if a customer suddenly requests a new feature, your team can quickly adapt without losing focus on other important tasks. The agile approach ensures that you can pivot as needed while still driving progress forward.

Optimize workflows and automate where possible

To make your team more efficient, streamline your workflows by using project management tools. These tools can help eliminate manual, time-consuming tasks, freeing up your team to focus on more strategic work.

For instance, automating testing and deployment processes can save significant time and reduce errors, allowing your team to concentrate on developing new features or improving user experience.

Routine tasks like reporting, build management, and quality assurance are prime candidates for automation. By doing this, you give your team the bandwidth to tackle more complex, high-value activities that drive your business forward.

Cross-train team members

Developing a team that can work across multiple products helps prevent knowledge silos and reduces the risk of single points of failure.

Encourage team members to share their expertise through skill-sharing sessions where they teach each other about different aspects of your product portfolio. For instance, a developer who primarily works on one product could share insights with a colleague working on another, fostering a more well-rounded and resilient team.

Cross-training not only builds flexibility but also boosts morale as team members feel more empowered and valued for their diverse skill sets.

Outsource or use contractors

Identify tasks that aren’t core to your business and consider outsourcing them to third-party providers or freelance contractors. This approach allows your in-house team to focus on the critical aspects of product development and management. For example, you might bring in a specialized contractor for a specific project or during peak periods to scale your capabilities without the long-term commitment of a permanent hire.

This strategy helps you stay nimble and responsive to fluctuating demands without overburdening your core team.

Implement clear communication channels

Ensure that everyone on your team knows their responsibilities and the status of key projects.

Using collaboration tools like Asana, Slack, Trello, or Confluence can help keep information accessible and up-to-date. Regular check-ins and status updates at the portfolio level are also vital for maintaining transparency and alignment across your products.

For example, if a major deadline is approaching, a quick update in Slack or Trello can ensure that everyone is on the same page and working towards the same goals.

Structuring your team for maximum impact

For small product marketing teams, there are a few effective ways to organize your team, depending on your company's priorities and structure.

You could organize by feature to align with product managers, by function to specialize in areas like competitive intelligence or sales enablement, by customer segment or line of business to mirror your sales team, or by objective/theme to dynamically shift focus as needed.

Whichever approach you choose, the key is to keep communication and responsibility clear, ensure all essential product marketing functions are covered, and maintain alignment with the rest of the organization.

For a more detailed perspective on structuring an effective product marketing team, check out our guide. 👇

How to simplify and focus your product portfolio

Sometimes, project management alone isn’t enough to keep everything running smoothly. As your product offerings grow, managing them effectively requires more than just staying organized.

It’s about making strategic decisions to simplify and focus your portfolio, ensuring that each product aligns with your core business goals and delivers real value.

Ensure consistent messaging and positioning across numerous products

Firstly, it's essential to keep your messaging and positioning consistent across all your products. This ensures that no matter which product a customer interacts with, they get a coherent and unified experience. This consistency strengthens your brand and makes it easier for customers to understand and trust what you offer.

This doesn’t just help your customers, but you and your team as well. This is because consistent messaging and positioning provide a clear framework for decision-making and communication within your team. When everyone understands the core message and value proposition, it becomes easier to align efforts across different products and initiatives.

For example, when launching a new feature or product, your product marketing, marketing, development, and customer support teams will all be on the same page about how to present it to customers. This unity reduces the risk of mixed messages and ensures that everyone is working towards the same goals, and enhances the overall effectiveness of your product strategy.

Streamline your product lineup

Regularly assess your entire product portfolio to identify underperforming or redundant offerings. Consider sunsetting these products to reduce maintenance overhead and allow your team to concentrate on a more focused set of core offerings. This not only streamlines operations but also ensures your efforts are aligned with your overall business strategy and market needs.

For example, if two products serve similar functions, it might make sense to consolidate them into a single, stronger offering, thereby freeing up resources to innovate elsewhere.

Leverage customer feedback

Customer insights are invaluable for guiding your prioritization and roadmapping efforts. Implement a strong feedback loop to quickly identify and address issues across your portfolio. Staying closely connected to your users’ needs and pain points will help you make more informed decisions about where to allocate resources.

For instance, if multiple customers are struggling with a particular feature, it might be worth prioritizing a fix or redesign in your next sprint. This user-focused approach ensures that your products continue to meet market demands and exceed customer expectations.

Regular portfolio reviews

Finally, it’s important to periodically assess your entire product lineup to ensure it’s aligned with your business strategy and market demands.

These reviews should consider factors like revenue contribution, customer satisfaction, competitive positioning, and development roadmaps. This comprehensive view allows you to make informed decisions about where to invest, which products to sunset, or where to focus optimization efforts.

For instance, if a product is no longer contributing significantly to revenue but is consuming valuable resources, it might be time to retire it or significantly revamp it to better align with market needs. Regular reviews help keep your portfolio sharp and relevant.