Building new products, at its core, is to produce more outputs with the same inputs. To do the same, but faster.
If you are building a new product, regardless of its function, and regardless of your industry, chances are that you are doing it to save time.
Slack is faster than emails. Checking all your ad campaign stats in one application is faster than having multiple browser tabs open.
Creating reports is a good use case. Let’s say that it takes you 2 hours to compile a 30 days Ads Performance report. You have to open the Facebook Ads, Twitter Ads, and Google Ads Managers. Run a CSV export in each tab, and then compile everything in one excel file.
If you can build a reporting tool that can integrate all the Ads platforms into one place, you could get the report in 10 minutes, and you will be saving 110 minutes each time.
Put a monetary value to the media analyst’s time and the engineer’s time to build the platform, and you will have a good idea of how much time until the reporting tool pays itself.
The bigger the time saving, the higher the ROI. The higher the ROI, the higher in your Product Backlog the new feature or product should be.