Skeleton of a good PRD Template

A good PRD doc should have the following vectors covered

Product Requirements Document (PRD)

1. Document Overview

• Product/Feature Name: [Clear, descriptive title]
• Document Owner: [Author’s name and role]
• Version & Date: [Latest version and update date]
• Approvers: [Names of key approvers]

2. Executive Summary

• Vision Statement: Summarize the product’s purpose.
• Strategic Objective: How this product/feature aligns with broader goals.
• Problem Statement: Define the problem this product will solve.
• Value Proposition: Describe how this solution benefits both users and the business.

3. Context & Background

• Market Insights: Relevant market trends, competitor analysis, or research.
• Customer Insights and Pain Points: Summarize user needs and specific pain points.
• User Personas: Brief descriptions of target users and primary needs.
• Current Solution Gaps: Describe areas where existing solutions fall short.

4. Goals and Success Metrics

• Primary Goals: Define clear, measurable goals for the product or feature.
• Key Performance Indicators (KPIs):
• Adoption (e.g., sign-up rate, DAU/MAU)
• Engagement (e.g., feature usage, session duration)
• Customer Satisfaction (e.g., NPS, feedback)
• Non-Goals: What this product/feature is not intended to solve.

5. Scope and Solution Outline

• High-Level Solution: Describe the proposed approach.
• Core Features:
• Must-Have Features: Essential features for the MVP.
• Should-Have Features: Secondary but important features.
• Could-Have Features: Nice-to-haves for future consideration.
• Future Enhancements: Outline potential future improvements.

6. Requirements

7. User Journey and Experience

• User Flow Diagrams: Visual representation of user interactions.
• UI/UX Components: Mockups, wireframes for user experience.
• User Interaction Points: Key touchpoints linked to specific features or outcomes.

8. Dependencies and Constraints

• Dependencies: Describe dependencies on other features, teams, or third-party systems.
• Technical Constraints: List limitations (e.g., platform restrictions).
• Legal/Compliance: Any regulatory requirements impacting the product.

9. Risks and Mitigation

• Risk 1: Describe potential risk and its impact.
• Mitigation Strategy: Outline a mitigation strategy for this risk.
• Risk 2: Describe potential risk and impact.
• Mitigation Strategy: Mitigation steps.
• [Continue for each key risk]

10. Project Milestones and Timeline

• Milestones:
• MVP Release: Date for initial version.
• Beta Testing: Expected date for testing phase.
• General Release: Expected date for public launch.
• Detailed Timeline: High-level roadmap with development, testing, and release phases.

11. GTM (Go-To-Market) and Distribution

11.1 Target Audience

• Primary Audience: Define the primary customer segment (e.g., user personas).
• Secondary Audience: Other potential users or customers.
• Geographic Focus: Specific regions or markets for targeted distribution.

11.2 Positioning and Messaging

• Product Positioning: How the product stands out in the market and solves a unique problem.
• Key Messaging: Core messages to communicate value to users (e.g., problem-solution, benefits).
• Unique Value Proposition (UVP): Statement highlighting why users should choose this product.

11.3 Distribution Channels

• Direct Sales: Sales team efforts, outreach, and meetings for high-touch customer engagement.
• Digital Marketing: Social media, email marketing, and online ads for broad reach.
• Partnerships and Resellers: Identify potential partnerships for co-marketing and broader distribution.
• Marketplaces and App Stores: Applicable platforms for distribution (e.g., iOS App Store, Google Play).

11.4 Marketing Strategy

• Content Marketing: Blog posts, videos, and educational content targeting user personas.
• Social Media Campaigns: Platforms and strategy for engaging target users.
• PR and Media Outreach: Press releases, influencer outreach, or media partnerships to increase awareness.
• Paid Advertising: Targeted ad campaigns, keywords, and demographics.

11.5 Customer Acquisition and Retention

• Acquisition Strategy: Initiatives to attract new customers (e.g., onboarding incentives, product trials).
• Retention Strategy: Tactics to increase engagement and loyalty (e.g., customer support, feature updates).
• Referral Programs: Plans for customer referrals to drive organic growth.

11.6 Success Metrics for GTM

• Awareness: Track metrics like website traffic, social media reach, and PR impressions.
• Conversion: Measure user sign-ups, trials, or sales conversions.
• Retention: Monitor repeat engagement, usage frequency, and customer satisfaction scores.

12. Stakeholders and Approvals

• Core Stakeholders: Product, engineering, design, marketing, legal, and other departments.
• Decision-Makers: People responsible for approvals.
• Feedback Rounds: Plan for feedback collection and integration.

13. Appendices and Supporting Documents

• Related Research: Link to research, data sources, user interview notes.
• Glossary: Define technical terms or references.
• Change Log: Track updates to the PRD.

14. Approval and Sign-Off

• Final Approval: Signature space for key approvers.
• Sign-Off Date: Date of final approval.

The GTM and Distribution section offers a comprehensive approach for taking the product to market, covering audience targeting, messaging, distribution channels, marketing, acquisition, and success metrics. This ensures alignment across teams and helps track progress against launch and distribution goals.