Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Mind the Product Engage Manchester

894 views

Published on

Product Growth = People growth

How TransferWise has grown to be the market lead in cross border transfers and how you can replicate this in your company / startup / team

Published in: Internet
  • Be the first to comment

Mind the Product Engage Manchester

  1. 1. @nilanp Growing fast… …growing people
  2. 2. @nilanp 1. Growth at TransferWise 2. 5 steps to replicate this in your organisation
  3. 3. @nilanp @cataflu
  4. 4. @nilanp 1. Growth at TransferWise 2. 5 steps to replicate this in your organisation
  5. 5. TransferWise was started to solve a problem @nilanp@nilanp
  6. 6. What is TransferWise What is borderless
  7. 7. @nilanp @cataflu Moving more than £3 Billion per month
  8. 8. @nilanp @cataflu Saving our customer more than £3m per day 30 price drops in the last 9 months
  9. 9. @nilanp @cataflu Over 4m customers worldwide
  10. 10. @nilanp @cataflu Over 2m debit card transactions + over £2bn in deposits
  11. 11. @nilanp @cataflu > 1,400 people
  12. 12. @nilanp @cataflu
  13. 13. @nilanp @cataflu Profitable for 2 years
  14. 14. @nilanp @cataflu Evangelism is the biggest driver of growth
  15. 15. Why do people recommend our product ?
  16. 16. @nilanp Would you recommend us to your friends? 1 2 3 4 5 6 7 8 9 10 Detractors Neutral Promoters
  17. 17. @nilanp Would you recommend us to your friends? 1 2 3 4 5 6 7 8 9 10 Detractors Neutral Promoters Total Promoters - Detractors = NPS
  18. 18. @nilanp The NPS Richter scale
  19. 19. @nilanp 1 2 3 4 5 6 7 8 9 10
  20. 20. @nilanp If promoters > detractors you WILL grow
  21. 21. @nilanp N.B. This is hard.
  22. 22. It works ! (But barely)
  23. 23. It works ! (But barely) It works with no significant issues !
  24. 24. It works ! (But barely) It works with no significant issues ! It works. Wow that was slick
  25. 25. It works ! (But barely) It works with no significant issues ! It works. Wow that was slick You’ve just blown my socks off that was incredible
  26. 26. RATIONalRational Emotional
  27. 27. RATIONalProduct Mission
  28. 28. RATIONal Speed Price Convenience Coverage Mission
  29. 29. To achieve advocacy your product needs to be an order of magnitude better than the alternative
  30. 30. But don’t do this as “growth hack” do it because its the right thing to do
  31. 31. RATIONal Speed Price Convenience Coverage Mission
  32. 32. You can’t copy that !
  33. 33. @nilanp 1. Growth at TransferWise 2. 5 steps to replicate this in your organisation
  34. 34. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build conviction Step 4 - Product growth=People Growth Step 5 - Scale @nilanp @cataflu
  35. 35. Money without borders. Instant, convenient, transparent and eventually free We’re powering money for people and businesses: to pay, to get paid, to spend, in any currency, wherever you are, whatever you’re doing
  36. 36. We are a Mission Driven Startup @nilanp @cataflu
  37. 37. A mission driven organisation is… …is a catalyst for achieving a change In the world @nilanp @cataflu
  38. 38. Find your mission @nilanp @cataflu
  39. 39. It starts by being customer led @nilanp @cataflu
  40. 40. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build conviction Step 4 - Product growth=People Growth Step 5 - Scale @nilanp @cataflu
  41. 41. RATIONal Make customers happy
  42. 42. RATIONal Make customers happy Make money
  43. 43. RATIONal Make money
  44. 44. RATIONal Make customers happy sustainably
  45. 45. Have one list
  46. 46. But how do you explain this to shareholders ? @nilanp
  47. 47. @nilanp Customer led Growth
  48. 48. @nilanp Customer led Growth Create a huge amount of value
  49. 49. @nilanp Customer led Growth Create a huge amount of value Capture less than you create
  50. 50. @nilanp Customer led Growth Create a huge amount of value Capture less than you create Create a huge amount of good will
  51. 51. @nilanp Customer led Growth Create a huge amount of value Capture less than you create Create a huge amount of good will Word of mouth growth
  52. 52. Price
  53. 53. Price Demand
  54. 54. Revenue Price Demand
  55. 55. Generating a consumer surplus that turns into goodwill @nilanp
  56. 56. Creating a barrier to entry @nilanp
  57. 57. Retro-fitting MBA speak on what is the right thing to do @nilanp
  58. 58. Practically - how do I do that at my business. @nilanp
  59. 59. 1. Define a problem you are solving @nilanp
  60. 60. 2. Define a KPI to measure progress @nilanp
  61. 61. 3. Try and move it @nilanp
  62. 62. 4. Congratulations you’ve built a product ! @nilanp
  63. 63. 5. Now how to build a 10x product ? @nilanp
  64. 64. How to build something that is 10x better than anything else in the market ? @nilanp
  65. 65. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build conviction Step 4 - Product growth=People Growth Step 5 - Scale @nilanp @cataflu
  66. 66. How to build something that is 10x better than anything else in the market ? @nilanp
  67. 67. Build something that doesn’t exist @nilanp
  68. 68. Build something that you don’t know could ever exist @nilanp
  69. 69. If you aren’t in a perpetual state of existential crisis… …you aren’t trying hard enough @nilanp
  70. 70. No team at TransferWise tests changing button colours @nilanp
  71. 71. Building conviction: The art of product management
  72. 72. Virility plan or test all the things
  73. 73. = YOU DON’T KNOW WHAT YOUR CUSTOMERS WANT
  74. 74. @nilanp Singapore
  75. 75. @nilanp @cataflu Bank of England @nilanp
  76. 76. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build conviction Step 4 - Product growth=People Growth Step 5 - Scale @nilanp @cataflu
  77. 77. SPEEEEEEEEEEEEEEEEEEEEEEEEED @nilanp
  78. 78. Our growth is limited by the rate… …we solve customer problems @nilanp @cataflu
  79. 79. Our growth is limited by the rate… …we move product KPIs @nilanp @cataflu
  80. 80. Our growth is limited by the rate… …we hire people @nilanp @cataflu
  81. 81. Our growth is limited by the rate… …we onboard them @nilanp @cataflu
  82. 82. Our growth is limited by the rate… …we build their confidence @nilanp @cataflu
  83. 83. Our growth is limited by the rate… …we build their conviction @nilanp @cataflu
  84. 84. Our growth is limited by the rate… …we build their impact on the mission @nilanp @cataflu
  85. 85. Product growth = People growth @nilanp @cataflu
  86. 86. Man… growth is a psychologist’s problem @nilanp @cataflu
  87. 87. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build conviction Step 4 - Product growth=People Growth Step 5 - Scale @nilanp @cataflu
  88. 88. Autonomous independent teams that focus on KPIs that make a difference to customers and drive growth @nilanp
  89. 89. Autonomous independent teams that focus on KPIs that make a difference to customers and drive growth @nilanp Regulated and available Instantly and almost zero cost IdentityOnboarding Worry Evangelism Problem awareness
  90. 90. Autonomous independent teams that focus on KPIs that make a difference to customers and drive growth @nilanp Currencies OperationsVerificationConversion Experience ViralityMarketing Regulated and available Instantly and almost zero cost IdentityOnboarding Worry Evangelism Problem awareness
  91. 91. We have over 1,500 people working in autonomous teams today in offices from Singapore to New York @nilanp @cataflu
  92. 92. Some things work great @nilanp @cataflu
  93. 93. … we’ve still got some stuff to figure out @nilanp @cataflu
  94. 94. WIP
  95. 95. Step 1 - Find your mission Step 2 - Let your customers lead you Step 3 - Build conviction Step 4 - Product growth=People Growth Step 5 - Scale @nilanp @cataflu
  96. 96. @nilanp Onwards

×