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Lean Experiments with Lean Expectations—Product Camp Cascadia 2021

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Lean Experiments with Lean Expectations—Product Camp Cascadia 2021

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A talk I gave at Product Camp Cascadia 2021 about how to build the right products faster by running lean experiments and staying objective with lean expectations.

A talk I gave at Product Camp Cascadia 2021 about how to build the right products faster by running lean experiments and staying objective with lean expectations.

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Lean Experiments with Lean Expectations—Product Camp Cascadia 2021

  1. 1. Lean Experiments with Lean Expectations Lena Sesardic Product Camp Cascadia 2021 March 6, 2021 10AM PST
  2. 2. What you'll get out of this talk: How to build less of the wrong products by running lean experiments. FOUR types of lean experiments through FIVE real-life examples. The importance of lean expectations in staying objective. When to walk away from an idea.
  3. 3. Lena Sesardic 7 yrs startups/startup-like teams (3.5 yrs PM). Entrepreneur, Creator & Writer. Mentor & advise venture teams. Author of The Making of Product Managers. I write on lenasesardic.com & for Product Coalition & The Startup on Medium.
  4. 4. Think in experiments, not products. What is the quickest way to test an idea? Riskiest assumptions. Hypothesis (specific, measurable, disprovable, time-bound). Expected outcome—stay objective & accountable.
  5. 5. Divorce yourself from your idea 9/10 startups fail. Even more product features fail. Most experiments fail. Failed experiments = learning.
  6. 6. Lean experiments Few days/weeks to run. Test a specific hypothesis. Quantitative/qualitative data as feedback. Prioritize learning.
  7. 7. Wizard of Oz method Lean Experiment #1
  8. 8. Humans simulate a functioning product without the use of technology & without the user's knowledge. Wizard of Oz method
  9. 9. Real-life Example: Veni Resource: Veni.ca
  10. 10. Real-life Example: Veni 1. Simple landing page for customers submit orders through. Resource: Veni.ca
  11. 11. 2. Place orders with restaurants on the day manually. Resource: Veni.ca Real-life Example: Veni
  12. 12. 3. Deliver all meals manually. Resource: Veni.ca Real-life Example: Veni
  13. 13. Spent $25. Batching meal orders is valuable to restaurants. Collected feedback on the customer experience. Going forward: Wizard of Oz + landing page analytics Results: Resource: Veni.ca Real-life Example: Veni
  14. 14. Pros & Cons: Wizard of Oz method No need to build technology. Quick to ship. High-touch service = learning opportunity. Easy to pivot. Requires manual work. Have to build product eventually. May not be polished. May not be possible for all product concepts.
  15. 15. Fake Door Demand Test Lean Experiment #2
  16. 16. Fake Door Demand Test Fake the existence of a product & measure the actions users take.
  17. 17. Real-life Example: Kettle & Fire Resource: How I validated my idea for Kettle & Fire by Justin Mares.
  18. 18. Real-life Example: Kettle & Fire 1. Keyword search & trend analysis. Resource: How I validated my idea for Kettle & Fire by Justin Mares.
  19. 19. 2. Simple landing page with "Order Bone Broth Now!" button & $50 worth of Bing ads. Resource: How I validated my idea for Kettle & Fire by Justin Mares. Real-life Example: Kettle & Fire
  20. 20. 3. Redirected to "PayPall $29.99 to xxxxxx@gmail.com." Resource: How I validated my idea for Kettle & Fire by Justin Mares. Real-life Example: Kettle & Fire
  21. 21. 7814 2384 30.51% Visitors Conversions Conversion rate Resource: How I validated my idea for Kettle & Fire by Justin Mares. Results: Real-life Example: Kettle & Fire
  22. 22. 4. Out of stock follow-up email. Resource: How I validated my idea for Kettle & Fire by Justin Mares. Real-life Example: Kettle & Fire
  23. 23. Real-life Example: Customer Camp Resource: Customer Camp.
  24. 24. 1. "GET CERTIFIED" fake door. Resource: Customer Camp. Real-life Example: Customer Camp
  25. 25. 2. Popup to join waitlist. Resource: Customer Camp. Real-life Example: Customer Camp
  26. 26. 3. Customer discovery interview. Resource: Customer Camp. Real-life Example: Customer Camp
  27. 27. Resource: Customer Camp. Quantitative data: waitlist sign-ups. Customer discovery interviews w/ interested parties. Qualitative data >> deep insights. Connections with potential future customers. Results: Real-life Example: Customer Camp
  28. 28. Pros & Cons: Fake Door Demand Test Quick to ship landing page/button. No need to create or source product. Quantitative/qualitative data for analysis. Scalable (landing pages/button). Paid ads expensive & require expertise. False negatives due to poor UX/ad copy or choice of ad platform. Potentially frustrated customers (use sparingly).
  29. 29. Cold Outreach Lean Experiment #3
  30. 30. Cold Outreach Contact people who haven't previously expressed an interest in the products or services you're offering.
  31. 31. Real-life Example: Scheduling App X
  32. 32. 1. Clickable prototype of what app would look like. Real-life Example: Scheduling App X
  33. 33. 100+ leads for each of 5 niche industries. 2. Real-life Example: Scheduling App X
  34. 34. 5 cold email campaign to the 5 niche industries with clickable prototype included. 3. Real-life Example: Scheduling App X
  35. 35. Identified 2 niche industries with highest demand (carpet cleaning & painting). 50 early customers with signed Letters of Intent (LOIs). Results: Real-life Example: Scheduling App X
  36. 36. Pros & Cons: Cold Outreach Quick to ship. Quantitative/qualitative data for analysis. Scalable (cold emails). Some lead generation can be time-consuming & expensive. False negatives due to poor email copy or cold calling. Easy to pivot. False negatives due to poorly formed value prop.
  37. 37. Inchworm Medley Lean Experiment #4
  38. 38. Inchworm Medley Gauge interest on for a product or service on social media + set up pre-orders to validate willingness to pay.
  39. 39. Real-life Example: Lean SEO Course Resource: Starter Story
  40. 40. 1. Gauged interest with a tweet & blog post. Real-life Example: Lean SEO Course Resource: Starter Story
  41. 41. 2. Positive qualitative feedback & insight into customer pains. Real-life Example: Lean SEO Course Resource: Starter Story
  42. 42. 3. Gauge product format with a tweet. Real-life Example: Lean SEO Course Resource: Starter Story
  43. 43. 4. Pre-orders to validate willingness to pay. Real-life Example: Lean SEO Course Resource: Starter Story
  44. 44. Real-life Example: Lean SEO Course $2,054 in presales in 2 weeks. $30k in sales within 2 months. Results: Resource: Starter Story
  45. 45. Pros & Cons: Inchworm Medley Multiple checkpoints for validation. Builds community. No need to create or source product right away. Quantitative/qualitative data for analysis. More effective with an existing audience & credibility. May be difficult to back out of (social reputation). Risk of someone stealing your idea.
  46. 46. Recap of Lean Experiments #1 Wizard of Oz method #2 Fake door demand test #3 Cold outreach #4 Inchworm medley
  47. 47. Walking Away From an Idea Pre-desired outcomes are not met. We tend to see what we want to see. Exceptions are rare.
  48. 48. The Value of Lean Experiments Speed. Learning. Hidden ROI.
  49. 49. Thank you! in/lenasesardic @LenaSesardic lenasesardic.com hello@lenasesardic.com

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