Building the RIGHT PRODUCT for the RIGHT CUSTOMER - ProductCamp LA 2014

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Information about Building the RIGHT PRODUCT for the RIGHT CUSTOMER - ProductCamp LA 2014
Technology

Published on March 12, 2014

Author: mattdanna

Source: slideshare.net

Description

Presented during ProductCamp LA on Saturday, March 1st, 2014.
Website: http://productcamp.la
========================
SESSION DESCRIPTION:

A lot of things need to go RIGHT to be successful. Successful products require:
...Building the RIGHT product...
...for the RIGHT customer...
...in the RIGHT market...
...using the RIGHT technology...
...at the RIGHT time...
...by the RIGHT team...
...with the RIGHT amount of luck.
Come learn some strategies for building the right stuff. :)

BUILDING THE RIGHT PRODUCT FOR THE RIGHT CUSTOMER @mattdanna

with the right amount of luck... Building the right product for the right customer in the right market by the right team using the right technology at the right time SUCCESSFUL PRODUCTS REQUIRE....

SOME USER AUDIENCE RESEARCH...

Designers?

Engineers?

Product Managers?

Matt Danna VP, PRODUCT Fullscreen is a new media company that powers the creation and sharing of content for the connected generation.

IT / Human-Computer Interaction Software Engineer Product Designer Product Marketing Manager Product Manager Innergy Labs Freelance

WHAT IS PRODUCT MANAGEMENT?

“The Biz” Technology User Experience Product! –Martin Ericksson

investigate opportunities define solutions* “To discover a product that is valuable, usable and feasible.” –Marty Cagan

Investigate & Assess Opportunities: SUPPORT TRENDS USER FEEDBACK DESIGNERS ENGINEERING BUSINESS STAKEHOLDERS MARKETING SALES MARKET TRENDS USABILITY TESTING NEW TECHNOLOGIES ITERATION USER BEHAVIOR BUGS

Outline features & functionality, the user experience, and the release criteria Define Solutions (Product Discovery) The process of discovering the solution to an opportunity

PRODUCT MANAGEMENT VS. PROJECT MANAGEMENT

PRODUCT MANAGEMENT

PROJECT MANAGEMENT

FAST GOOD CHEAP PROJECT MANAGER TRIANGLE

FAST GOOD expensive

GOOD CHEAP slowww

FAST CHEAP crap

FAST GOOD CHEAP PROJECT MANAGER TRIANGLE “impossible”

FAST GOOD CHEAP Research, Design, & QA Product Engineering

investigate opportunities define “inexpensive” solutions

BUILDING THE RIGHT PRODUCT FOR THE RIGHT CUSTOMER

What’s the first step in building the right product??

Don’tbuildtheproduct! Building = expensive

“Desire Path” Image credit: Google Maps

Determinewhoyouruseris CUSTOMER DEVELOPMENT

Selectiveservice Be critical regarding what customer you’re trying to serve

Customer Development capabilities: USER PERSONAS ONLINE INTERVIEWS COMPETITIVE ANALYSIS WEB ANALYTICS DATA MINING FOCUS GROUPS MARKET RESEARCH SURVEYS ONSITE VISITS TALK TO THEM IRL

VITAMIN OR PAIN KILLER?

Opportunityassessment How viable is the potential opportunity?

POEM FRAMEWORK Product Opportunity Evaluation Matrix (POEM) CUSTOMER PRODUCT TIMING FINANCE COMPETITION PRODUCT/ MARKET FIT?

ADOPTION PRODUCT/MARKET FIT TIME Discovery Stickiness Virality Revenue Scale TRACTION Courtesy

Prototype&Test Before building full product

CONCIERGE MVP (Minimum Viable Product... not Most Valuable Player) YOUR BFF!

Capitalized on lodging 
 shortage during a design conference in San Francisco. ! Founders sold space in their living room to validate whether customers were willing to pay for sleeping on air beds. Images credit: Shana Wright (

WIZARD OF OZ MVP (shhh there’s a wizard behind the curtain)

Nick Swinmurn founded Zappos.com in 1999. ! Validated the hypothesis that people 
 would buy shoes online without 
 having any actual inventory. Images credit:

Images credit:

Alwaysquestionyour
 assumptions ! Put your ego and emotions aside

Mercedes “KEYLESS-GO” SOME OF THE BEST PRODUCTS DON’T HAVE AN INTERFACE Unlock Lock Images credit:

Definesuccess Be opinionated!

METRICS: MEASURE TO LEARN & IMPROVE EXPLORATION investigate an assumption, look for causalities, validate customer feedback, validate internal opinions, etc. REPORTING measure progress, measure feature impact, see customer happiness/health, etc.

“PIRATE METRICS” ARE A GOOD PLACE TO START Acquisition Activation Retention Referral Revenue AARRR!!

Datainfluenced …Not data-driven

Quantitative Data Qualitative Data Competition User Interests Strategic Goals Business Interests Ethics & Regulations

User-centered …Not user lead

“GENERATION FACEBOOK IS TAKING ACTION - AGAINST FACEBOOK.” -TIME MAGAZINE “THERE HAS BEEN AN OVERWHELMINGLY NEGATIVE RESPONSE TO FACEBOOK’S LAUNCH OF TWO NEW PRODUCTS…” -TECHCRUNCH “FRANKLY, THE ONLY POSSIBLE OUTCOME IS THAT FACEBOOK WILL BE FORCED TO PROVIDE AN "OFF SWITCH" - THE MAJORITY OF USERS WILL THEN OPT OUT OF THE SYSTEM, MAKING IT FAR LESS USEFUL.” -PETE CASHMORE, MASHABLE

Selectiveinnovation Be careful where you spend your time

There’s no need to reinvent the sign-in form... ! Or design a custom icon web font... ! Or construct your own analytics suite... ! Or build a home-brew customer support solution... ! Etc etc etc EVEN THOUGH YOUR DESIGNERS OR ENGINEERS MAY MAKE IT SOUND SEXY...

KEEP YOUR ENGINEERS AWAY FROM “HACKER NEWS ENGINEERING”

Avoiddistractions ...like a plague

Heavy documentation is wasteful = distraction

Always keep one eye on competition, but stay focused on your own productImage credit:

DISTRACTION OR OPPORTUNITY? HINT: If it takes away focus from your core value proposition, it’s a distraction. Is it a...

If your product isn’t getting traction... Failasfastasyoucan!

ADOPTION PRODUCT/MARKET FIT TIME TRACTION Discovery Stickiness Virality Revenue Scale ITERATE OR PIVOT Courtesy

ADOPTION PRODUCT/MARKET FIT TIME Discovery Stickiness Virality Revenue Scale PRODUCT DISCOVERY & CUSTOMER DEVELOPMENT SCALE, MARKETING, OPERATIONS BIZ DEV, ETC TRACTION Courtesy

If your product is getting traction... Focusonbuildingtheteam thatwillbuildyourcompany

Product Manager 1 Product Designers 2 Product Engineers 6: : MAGIC RATIO FOR TEAM COMPOSITION Remember the FAST, GOOD, CHEAP? This is one way to create that rhythm.

WHEN HIRING... I DON’T LOOK FOR PROBLEM SOLVERS. I WANT PROBLEM SEEKERS. ! THINKING OUTSIDE THE BOX? I TRY TO FIND PEOPLE WHO ARE OKAY IF THERE IS NO BOX.

1) Can they do what the job requires today? 2) Can they do what the job will require in 2 years? 3) Could they do the job better than I could? 4) Can I learn from this person? 5) Would it be a delight to work with this person? 5 QUESTION INTERVIEW RETROSPECTIVE

Havefun and stay curious!

QUESTIONS?

1. Meet with your users 2. Determine pain points 3. Iterate If you remember nothing else...

THX! <3 @mattdanna Matt Danna @fullscreen Oh, and Fullscreen’s recruiting! fullscreen.net/careers

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