The document outlines four "axes of dominance" for products: analytically minded, financially driven, innovations home, and custodians of beauty. It discusses each axis in depth, providing examples and strategies related to using data analytics, demonstrating financial value, innovating products and processes, and focusing on aesthetics and experience. The overall message is that products must balance all four axes to achieve dominance in the market.
Ask leader. What are the 5 numbers you look at every day.
Create line of site between your analytics and organisational KPIs
5 Whys. Uncover the primary, secondary and tertiary drivers of a numberE.g. conversion is downWhy (orders and traffic) – we had lower orders than normalWhy (product mix analysis) – we sold more high value itemsWhy (Offer code analysis) – We had a 50% off when you spend £200 offerWhy (AOV Impact) – Because we needed to improve AOVWhy – Because AOV is a measure of profitability
5 Whys. Uncover the primary, secondary and tertiary drivers of a numberE.g. conversion is downWhy (orders and traffic) – we had lower orders than normalWhy (product mix analysis) – we sold more high value itemsWhy (Offer code analysis) – We had a 50% off when you spend £200 offerWhy (AOV Impact) – Because we needed to improve AOVWhy – Because AOV is a measure of profitability
Create line of site between your analytics and organisational KPIs
Create line of site between your analytics and organisational KPIs
Create line of site between your analytics and organisational KPIs
Create line of site between your analytics and organisational KPIs
Create line of site between your analytics and organisational KPIs
Is about the decisions you makeWhat motivates themHow do you rationalise themIf you’re making decisions to please certain people, then this isn’t financially smartRegardless of the size of the decision, in some ways the smaller ones are more important to ingrain the habit
IS IT BEAUTIFUL?
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Finally in conclusion, the becoming a dominant department, and dominant employees is based on being the best across 4 axis, financially driven, analytically minded, innovations home and custodians of beauty.