"How I built my first product WRONG" - Tomer Alon @ProductTank Tel Aviv February 2016
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The hard things about being a First Time PM: Tomer talked with us about being a first-time product manager and things he did wrong. How to start? What are the challenges an engineer turning PM stumbles upon? What are the common mistakes? Tomer answered those questions and much more.
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"How I built my first product WRONG" - Tomer Alon @ProductTank Tel Aviv February 2016
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Editor's Notes
- ABOUT ME: 1982 - baby, 2000 - Technion, 2004 - 8200, 2010 - India, 2011 - Klarna,
- In Klarna: 2011 - developer (on-boarding, internal risk analysts) 2012 - TL (internal risk analysts rool, SLOT ticketing) 2014 - PM (integration tools for InApp merchants, and what I’m gonna tell you about today)
- Swedish company, started in 2005 - solving the friction and pain of buying online. consumers: simplifying buying (easy, fast, not registration) merchants: increasing conversion / size of purchase klarna: credit offerings to consumers / merchant fees Klarna Tel Aviv - started in 2011 when Klarna bought Analyzed. We did many different things and the site’s characters has shifted and changed over the years. Today’s products include: MyKlarna US / UK, backend personalization services, checkout for On-Demand, and DG checkout.
- Checkout for Digital Goods What is digital goods? haaretz, Spotify, Netflix, and many other things people in Israel don’t pay for...
- Checkout for Digital Goods What is digital goods? haaretz, Spotify, Netflix, and many other things people in Israel don’t pay for...
- Klarna already has a checkout. Why do we need a different checkout for Digital Goods?
- Checkout for Digital Goods What is digital goods? haaretz, Spotify, Netflix, and many other things people in Israel don’t pay for...
- What is the problem we’re trying to solve? ====> Why do we exist? Instead: What: checkout for DG How: feature A / B / C Why? nah… ====> Why? Solving the high drop off rates and high churn for digital content merchants How: Leveraging Klarna’s user base and mandate base, to create a frictionless checkout experience for DG (no need in features A / B / C) What: Checkout for Digital Content
- What is the problem we’re trying to solve? ====> Why do we exist? Instead: What: checkout for DG How: feature A / B / C Why? nah… ====> Why? Solving the high drop off rates and high churn for digital content merchants How: Leveraging Klarna’s user base and mandate base, to create a frictionless checkout experience for DG (no need in features A / B / C) What: Checkout for Digital Content Now - let’s say we nailed this part. We have a real problem to solve, but then I did my second mistake:
- Let’s we are solving a great problem for our merchants, and that end customers love us. What do we gain from it? Credit offerings is usually what Klarna makes money from - consumer revenues. But not here. ===> we should not rely on our invoice payment method.
- Let’s we are solving a great problem for our merchants, and that end customers love us. What do we gain from it? Credit offerings is usually what Klarna makes money from - consumer revenues. But not here. ===> we should not rely on our invoice payment method. DO NOT OFFER payment methods for credit.
- Let’s we are solving a great problem for our merchants, and that end customers love us. What do we gain from it? Credit offerings is usually what Klarna makes money from - consumer revenues. But not here. ===> we should not rely on our invoice payment method.
- DURING PRODUCT DISCOVERY - “because anyway they ask for features we’d like to build” wasting precious time on integration, less prioritized features - and reducing team’s focus. ====> Hallon, Vimla, Hitta //// DN, Dplay, Di (Vimla ---- card import!!! Taking so much of my time!!!!!) Another side note - not being involved in what our sales promising our merchants
- Bottom -Up approach - no OKRs Autogiro - what the purpose? Why are we building it?? ====> to reduce churn But then, how many users have mandate? And if not, can they register? ----- (Start with Y?) OKRs ===> Objective, Key Result, Epic, Stories What’s the product I’m managing in Klarna TLV?
- Top - Down OKR approach
- Thinking of Epic/Feature first
- Thinking of Epic/Feature first
- Deriving stories. But then - we went live and 1% were choosing this option. Why did we build it in the first place then?
- Thinking of Epic/Feature first
- Thinking of Epic/Feature first
- Thinking of Epic/Feature first ====> we’re all so focused on the list of features we need to build, and how to divide it into dev stories for our team - that we forget the first reason for why we’re building those features. And end up in “checking” the list, but not achieving the results we really need.
- Thinking of Epic/Feature first ====> we’re all so focused on the list of features we need to build, and how to divide it into dev stories for our team - that we forget the first reason for why we’re building those features. And end up in “checking” the list, but not achieving the results we really need.
- Flow not clear Minimal idiotic usability testing - someone not even from Sweden We could understand pretty immediately that flow is wrong (and then toss it in the face of our CEO…) My biggest tip would be:
- We’re live. What now? Are we successful? We didn’t even know how to measure our conversion….
- Is it all bad? No! Live with 6 merchants, and have already processed tens of thousands of transactions and acquired thousands of users. and a few other big merchants would like to work with us on the product. We’re now pivoting with the product, according to the mistakes we did and things we learned. My biggest tip: Switch from bottom up to Top down approach.