Product Management at VivaReal: Pointers on Defining, Tracking and Prioritizing
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Presentation in Medellin @ RutN for a session of Founder Institute's entrepreneurs.
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Product Management at VivaReal: Pointers on Defining, Tracking and Prioritizing
- 1. Product Management @ VivaReal The Founder Institute – Medellín July 2013
- 3. Why Product Management? • VivaReal had grown from holding a legacy Web App: – Release of significant refactors to the Web app (BBJS + API) – Release of iPad & iPhone Apps – Repurpose of the “Listing Alerts” – Updates to PUBLISHER oriented products • Feeds • Reports • Commercial integraction (BI + Salesforce) • “Single minded focus” should back product decisions
- 4. Apps have a “UX of their own”
- 5. Pointers on Product Management • Product Management needs its space • Project Mngmnt is not the same as Product Mngmnt • Think Why, Who and How - Keep specs simple • You are NOT the single source of product definitions • Understanding Users is KEY to product success • Your goals need visible & relevant KPIs
- 6. Prod Mngrs need their space • The key roles of product managers are: – Assessign product oportunities – Defining the product to be built – Understanding users better than anyone else • These roles are NOT the roles of: – UX Leads (who come up with useful and productive navs) – Project Managers (who set controls to guarantee releases) – Engineering (who actually build the product) – Platform Ops (who keep the sites running) – Product Marketing (who tell the world about the product)
- 7. Project is NOT Product Mngment • The Product Manager should focus on the discovery and success of the “features” released while the… • Project Manager should focus on releasing the specified products • If the ROLE is MIXED, – Release management will take up valuable time off product specs and tracking – Product definition will take a secondary role • Releases are now responsibility of the DEV Team
- 8. Key to success is Prioritizing! • Assessing opportunities is KEY: – Is the COST worth the EFFORT or the BENEFITS? – Is it the RIGHT TIME to move forward with the initiative? – Do you understand what you’re trying to solve? • Writing long specs is not: – Going to help you secure the project’s release – Ease the team’s production during the build • Document if it uncovers risks, helps trigger conversations or sets baselines for followup
- 9. You are NOT a GURU “Never tell people how to do things. Tell them what to do, and they will surprise you with their ingenuity.” General George S. Patton, Jr.
- 10. How are you tracking? • Sources of conversion tracking may include: • Conversions (users) are the bread and butter of PMs!
- 11. Are your KPIs RELEVANT? Description Basis for Comparison Lead per Type How many leads are being generated (eLeads & Phone) Week over Week Leads / Traffic What is the conversion of traffic into leads Daily Total Daily Visits Popularity on a regional and national basis Daily / Monthly Cost per Lead On a “per client” basis, how much does a lead cost? Competitor cost per lead rates Traffic from 3rd Party Sources How much traffic do third party sites generate for us Weekly
Editor's Notes
- And a TEAM of their own!
- If you have good engineers but they are not working on the right products at the right time, product managers are wating everyones time. : )
- Conversion tracking is fundamental – a key role is understanding users better than anyone else in the organization.