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Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO
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Startup Yatra Presented by Nurture Talent Academy - 1st session on Product Management by Aloke of IXIGO

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Nurture Talent organised StartupYatra with the aim of connecting entrepreneurs with Gurus who have been there done that. 7 sessions hosted by experts from ixigo, Indiamart, IHO, Value360, Delhivery, …

Nurture Talent organised StartupYatra with the aim of connecting entrepreneurs with Gurus who have been there done that. 7 sessions hosted by experts from ixigo, Indiamart, IHO, Value360, Delhivery, Payu and 5ideas were hosted by respective CEOs and founders in their offices. This presentation contains Aloke Bajpai's insights for startups on product management.

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Transcript

  • 1. Product Management
  • 2. It all starts with a vision
  • 3. The Classical Approach What’s Wrong With This? Concept/ Seed Round Product Development Alpha/Beta Testing Launch/ 1st Ship Product Development -  Create Marcom Materials -  Create Positioning -  Target market identification •  Hire PR Agency •  Early Buzz •  Create Demand •  Launch Event •  Branding •  Hire Sales VP •  Hire 1st Sales Staff •  Build Sales Organization Marketing Sales •  Hire First Bus Dev •  Do deals Business Development
  • 4. Build It And They Will Come •  Only true for life and death products – i.e. Biotech Cancer Cure – Success is binary and issues are development risks and distribution, not customer acceptance •  Not true for most other products – Software, Consumer, Web – Issues are customer acceptance and market adoption
  • 5. An Inexpensive Fix Focus on Customers and Markets from Day One How?
  • 6. Company Building Customer Discovery Customer Validation Customer Creation Customer Development is as important as Product Development Concept/ Bus. Plan Product Dev. Alpha/Beta Test Launch/ 1st Ship Product Development
  • 7. Customer Development Heuristics •  Stop selling, start listening •  There are no facts inside your building, so get outside •  Develop for the Few, not the Many •  Earlyvangelists make your company –  And are smarter than you •  The goal for release 1 is the minimum feature set for earlyvangelists •  Test every hypothesis – be data driven
  • 8. Rapid Prototyping 1.  Whiteboard Drawing 2.  The Paper Mock 3.  Wireframes 4.  Functional Mocks 5.  Code
  • 9. Change is the only constant
  • 10. Growth= Iteration
  • 11. Choosing the character 42.3% 16.9% 14.6% 26.1% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% A B C D A the most preferred choice…leads the pack with 42% voting for him People who chose D (26.1%)…sample 182 Stylish, smart, smiling and good personality. Young, clean and cool….local lad! Looks intellectual, learned (beard), elderly, mature Reasons for choosing A: looks knowledgeable, specs add intelligence. Reliable, Genuine & Experienced. Traveler and prepared as other add-ons Looks happy, local (cap), approachable
  • 12. Loop in feedback early
  • 13. Loop in feedback early
  • 14. Involve Users in MVP Validation
  • 15. Tools for Quick Iterations 1.  Interact with real users !! 2.  Fivesecondtest.com 3.  Usertesting.com 4.  Optimize.ly (A-B Testing) 5.  Google Analytics / Chartbeat 6.  Clicktale / TeaLeaf 7.  Webengage (Feedback management)
  • 16. Quantiative Analytics •  Google Analytics •  Chartbeat •  Flurry •  Set goals / events •  Monitor bounce rates •  Observe funnels
  • 17. Qualitative Analytics •  Measuring Happiness •  How do my users behave ? What do they spend their time looking at ? Why do they do what they do ? •  User Interaction / Behaviour (Clicktale/UserFly) •  Net Promoter Score •  Surveys (on-site / off-site) •  Social actions on the website (Likes/Shares) •  Social Media Mentions / Sentiments
  • 18. NPS Example
  • 19. Qualitative Analytics
  • 20. The HEART Framework •  Happiness –  User attitude, qualitative metrics, perceptions •  Engagement –  Behavioral signals, Depth of Interaction, Frequency, Clicks •  Adoption –  % Users who adopt new product / feature, “Get” the product •  Retention –  Returning users / Churn •  Task-Action –  Efficiency, Error Rates, Time Taken, % who complete a specific goal –  Specific metrics / signals critical for your product’s success
  • 21. A Few Things to Remember 1.  Everything you launch needs a hypothesis 2.  Set Daily, Weekly, Monthly Targets for your metrics for hypothesis validation 3.  Be willing to throw stuff out - test “what can we remove” 4.  Don’t plan assuming success 5.  Pivot, Pivot, Pivot
  • 22. Further Reading
  • 23. Thank you Aloke Bajpai Chief “Experimentation” Officer aloke@ixigo.com

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