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How to Lead Customer Value Creation by Dan Olsen at Leading the Product Melbourne

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Overview I gave of my book The Lean Product Playbook at Leading the Product Melbourne on October 20, 2016.

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How to Lead Customer Value Creation by Dan Olsen at Leading the Product Melbourne

  1. 1. how to lead customer Value creation DAN OLSEN OCT 20, 2016
  2. 2. How Does Your Company Make Money?
  3. 3. By Crea5ng Value for Customers
  4. 4. Product-Market Fit
  5. 5. Who at your company creates value for customers? Who at your company creates value for customers?
  6. 6. Whose job is it to make sure your company is crea5ng value for customers?
  7. 7. A Product Manager by any other name…
  8. 8. Spiderman’s mo.o: “With great power comes great responsibility”
  9. 9. Product Manager’s mo.o: Spiderman’s mo.o: “With great power comes great responsibility” “With great responsibility comes NO power”
  10. 10. It’s More Like This
  11. 11. As a Product Manager, Your Job Is To: n  Herd the cats inside your company n  To get them to create value for customers n  Under condi5ons of extreme uncertainty Sounds great! Where do I sign up?
  12. 12. That’s Why I Wrote Copyright © 2016 @danolsen
  13. 13. The Product-Market Fit Pyramid
  14. 14. The Product-Market Fit Pyramid
  15. 15. The Product-Market Fit Pyramid
  16. 16. The Product-Market Fit Pyramid
  17. 17. The Lean Product Process
  18. 18. The Lean Product Process
  19. 19. The Lean Product Process
  20. 20. The Lean Product Process
  21. 21. The Lean Product Process
  22. 22. The Lean Product Process
  23. 23. The Lean Product Process
  24. 24. The Lean Product Process
  25. 25. Copyright © 2016 @danolsen
  26. 26. The Lean Product Process 1. Determine your target customer 2. Iden5fy underserved customer needs 3. Define your value proposi5on 4. Specify your MVP feature set 5. Create your MVP prototype 6. Test your MVP with customers Copyright © 2016 @danolsen
  27. 27. Transporta5on within 100 km of my home Soccer Mom Speed Demon Carry kids & gear Safety Fuel economy Go fast Looks cool Makes me look cool Target Customer Has Dis5nct Needs High-level need Target Customer Detailed needs Ideal Product Soccer Mom Speed Demon
  28. 28. The Lean Product Process 1. Determine your target customer 2. Iden5fy underserved customer needs 3. Define your value proposi5on 4. Specify your MVP feature set 5. Create your MVP prototype 6. Test your MVP with customers Copyright © 2016 @danolsen
  29. 29. n  Russians: pencil n  NASA: space pen ($1 M R&D cost) Example n  Ability to write in space (zero gravity) Problem Space vs. Solu5on Space Problem Space n  A customer problem, need or benefit that the product should address n  A product requirement Solu5on Space n  A specific implementa5on to address the need or product requirement Copyright © 2016 @danolsen
  30. 30. Problem vs. Solu5on Space: Product Level Problem Space (user benefits) Solu5on Space (product) TurboTax TaxCut Pen and paper Prepare my taxes File my taxes Check my taxes Maximize deductions Reduce audit risk Copyright © 2016 @danolsen
  31. 31. Problem Space Problem vs. Solu5on Space: Feature Level Copyright © 2016 @danolsen Save time filing taxes Save time preparing taxes Maximize my tax deductions Check my return Reduce my audit risk Help me prepare taxes Empowerment/ Confidence Save Time Save Money Tax Interview Wizard Audit Risk Analyzer Tax Return Error Checker Tax Data Downloader Electronic Tax Return Filing Tax Deduction Finder Solu5on Space
  32. 32. Priori5zing Needs: Importance vs. Sa5sfac5on Importance of User Need User Sa5sfac5on with Current Alterna5ves Compe55ve Market Low High Low High Not Worth Going Ajer Copyright © 2016 @danolsen
  33. 33. Priori5zing Needs: Importance vs. Sa5sfac5on Importance of User Need User Sa5sfac5on with Current Alterna5ves Low High Low High Copyright © 2016 @danolsen
  34. 34. Priori5zing Needs: Importance vs. Sa5sfac5on Importance of User Need User Sa5sfac5on with Current Alterna5ves Low High Low High Copyright © 2016 @danolsen
  35. 35. Priori5zing Needs: Importance vs. Sa5sfac5on Importance of User Need User Sa5sfac5on with Current Alterna5ves Compe55ve Market Opportunity Low High Low High Not Worth Going Ajer Copyright © 2016 @danolsen
  36. 36. Priori5zing Needs: Importance vs. Sa5sfac5on Importance of User Need User Sa5sfac5on with Current Alterna5ves Low High Low High Copyright © 2016 @danolsen
  37. 37. Crea5ng Customer Value Copyright © 2016 @danolsen Importance of User Need User Sa5sfac5on with the Product Low High Low High Area = Customer Value Created Area = Opportunity to Create Customer Value
  38. 38. Users Rated 13 Key Features in a Survey Recommended reading: What Customers Want by Anthony Ulwick Great Copyright © 2016 @danolsen Bad
  39. 39. Kano Model: User Needs & Sa5sfac5on User Sa5sfac5on User Dissa5sfac5on Performance (more is bener) Delighter (wow) Need not met Need fully met Must Have Needs & features migrate over 5me Copyright © 2016 @danolsen
  40. 40. The Lean Product Process 1. Determine your target customer 2. Iden5fy underserved customer needs 3. Define your value proposi5on 4. Specify your MVP feature set 5. Create your MVP prototype 6. Test your MVP with customers Copyright © 2016 @danolsen
  41. 41. What is Your Value Proposi5on? Copyright © 2016 @danolsen
  42. 42. What is Your Value Proposi5on? n  Which user benefits are you providing? n  How are you bener than compe5tors? Must Have Benefit 1 Performance Benefit 1 Performance Benefit 2 Performance Benefit 3 Delighter Benefit 1 Delighter Benefit 2 Copyright © 2016 @danolsen
  43. 43. What is Your Value Proposi5on? n  Which user benefits are you providing? n  How are you bener than compe5tors? Compe9tor A Compe9tor B You Must Have Benefit 1 Performance Benefit 1 Performance Benefit 2 Performance Benefit 3 Delighter Benefit 1 Delighter Benefit 2 Copyright © 2016 @danolsen
  44. 44. What is Your Value Proposi5on? n  Which user benefits are you providing? n  How are you bener than compe5tors? Compe9tor A Compe9tor B You Must Have Benefit 1 Y Y Performance Benefit 1 High Low Performance Benefit 2 Low High Performance Benefit 3 Med Med Delighter Benefit 1 Y - Delighter Benefit 2 - - Copyright © 2016 @danolsen
  45. 45. What is Your Value Proposi5on? n  Which user benefits are you providing? n  How are you bener than compe5tors? Compe9tor A Compe9tor B You Must Have Benefit 1 Y Y Y Performance Benefit 1 High Low Med Performance Benefit 2 Low High Low Performance Benefit 3 Med Med High Delighter Benefit 1 Y - - Delighter Benefit 2 - - Y Copyright © 2016 @danolsen
  46. 46. The Lean Product Process 1. Determine your target customer 2. Iden5fy underserved customer needs 3. Define your value proposi5on 4. Specify your MVP feature set 5. Create your MVP prototype 6. Test your MVP with customers Copyright © 2016 @danolsen
  47. 47. What is an MVP? Copyright © 2016 @danolsen
  48. 48. What is an MVP? Courtesy of Jussi Pasanen See Aaron Walter’s book Designing for Emo-on Copyright © 2016 @danolsen
  49. 49. What is an MVP? Courtesy of Jussi Pasanen See Aaron Walter’s book Designing for Emo-on Copyright © 2016 @danolsen
  50. 50. The Lean Product Process 1. Determine your target customer 2. Iden5fy underserved customer needs 3. Define your value proposi5on 4. Specify your MVP feature set 5. Create your MVP prototype 6. Test your MVP with customers Copyright © 2016 @danolsen
  51. 51. The UX Design Iceberg Copyright © 2016 @danolsen What most people see and react to What good product teams think about
  52. 52. The UX Design Iceberg Copyright © 2016 @danolsen What most people see and react to What good product teams think about
  53. 53. Itera5ve Design & Test Workflow Copyright © 2016 @danolsen Hand sketches Interac5vity Fidelity Clickable Wireframes* Clickable Mockups** Live Product Test Test Test * Balsamiq: balsamiq.com ** InVision: invisionapp.com
  54. 54. The Lean Product Process 1. Determine your target customer 2. Iden5fy underserved customer needs 3. Define your value proposi5on 4. Specify your MVP feature set 5. Create your MVP prototype 6. Test your MVP with customers Copyright © 2016 @danolsen
  55. 55. Dos & Don’ts of User Tes5ng Sessions Do n  Explain to the user n  Feedback will help improve the product n  Not to worry about hur5ng your feelings n  Think Aloud Protocol n  Try to be a fly on the wall n  Take notes and review them ajerwards for take-aways Don’t n  Help user or explain the UI (e.g., click over here ) n  Ask leading or close-ended ques5ons n  Get defensive or blame the user Copyright © 2016 @danolsen
  56. 56. Itera5ng Between User Tes5ng Waves Customer Feedback Mockups / Code Copyright © 2016 @danolsen Problem Space All your hypotheses Solu5on Space User reac5ons
  57. 57. Problem Space Solu9on Space Copyright © 2016 @danolsen
  58. 58. The Lean Product Process: Marke5ngReport.com Case Study Copyright © 2016 @danolsen
  59. 59. Marke5ngReport.com Case Study n  My client (CEO) had a new product idea n  Team: me, CEO, VP marke5ng, UI designer n  Goals n  See if business opportunity exists n  Do so quickly and inexpensively (no coding) n  Marke5ng report would let consumers control the direct mail that they receive n  Analogous to credit report Copyright © 2016 @danolsen
  60. 60. Mapping Out Customer Benefits Reduce Junk Mail Find out what they know about you Money Saving Offers Compare Yourself to Others Social Networking Marketing Report Marketing Score Marketing Profile Save Trees Marke5ng Shield Concept Marke5ng Saver Concept Copyright © 2016 @danolsen
  61. 61. Copyright © 2016 @danolsen
  62. 62. Recrui5ng Target Customers n  Used customer research firm (panel) n  Wrote screener to iden5fy target customers n  Work full-5me n  Fit for Saver: use coupons, Costco membership n  Fit for Shield: use paper shredder, block caller ID n  Moderated users through the mockups Copyright © 2016 @danolsen
  63. 63. Learning from First Wave of User Tests Reduce Junk Mail Find out what they know about you Money Saving Offers Compare Yourself to Others Social Networking Marketing Report Marketing Score Marketing Profile Save Trees Legend Strong appeal Some appeal Low appeal Shield Concept Saver Concept Copyright © 2016 @danolsen
  64. 64. Copyright © 2016 @danolsen
  65. 65. Summary of Case Study n  4 weeks to validated product concept n  1 round of itera5on n  Zero coding n  Reasonable cost n  Customers willing to pay $10/month n  Trimmed away non-valuable pieces n  You can achieve similar results Copyright © 2016 @danolsen
  66. 66. The Lean Product Process 1.  Determine your target customer 2.  Iden5fy underserved customer needs 3.  Define your value proposi5on 4.  Specify your MVP feature set 5.  Create your MVP prototype 6.  Test your MVP with customers Iterate: §  Hypothesize-Design-Test-Learn loop §  Improve product-market fit Copyright © 2016 @danolsen
  67. 67. Qualita5ve vs. Quan5ta5ve Approach Qualita5ve Quan5ta5ve Oprah Spock
  68. 68. THANK YOU! @danolsen dan-olsen.com slideshare.net/dan_o

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