From this presentation you will learn more about Finding Product-Market Fit and Scale

1. www.productschool.com
Finding Product-Market Fit and Scale
w/ Warung Pintar and PayFazz

2. Join 35,000+Product
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3. C O U R S E S
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Training
Level up your team’s Product
Management skills

10. Sofian Hadiwijaya
T O N I G H T ’ S S P E A K E R

11. Product Market Fit
And Scale

12. 13
MY NAME
IS
Sofian Hadiwijaya. CTO
& Co-founder Warung
Pintar. @sofianhw

13. Special project

14. First Stall

15. November 2017
Join the A Team

16. MVP

17. "A startup is an organization formed to
search for a repeatable and scalable."
Steve Blank.

18. #GOAL
1000 WARUNG 2018

19. Business Model
● Franchise
● Semi-franchise
● Subscribe

23. PILOT
KIOS GEROBAK
2.0
GEROBAK
MOBILE
LARGE
1.0
DLAB
LARGE 2.0
SUNBURST GEROBAK
1.0
LOTTE
Same size, cheaper,
knockdown
Accommodate low
ceiling spots
Accommodate low
floor area space
Semi mobile, can be
moved if needed
Accommodate indoor
area space
Improvement of Large
1.0. Neon box branding
Refurbish readymade
carts to fit our
products
Very small cart for
indoor, medium cart for
outdoor
Improvement of
Gerobak 1.0. Additional
furniture

25. Growth Engine

26. Data Driven

27. Execution Power

29. 30
Thanks.
Ask me anything!
@sofianhw

30. Hendra Kwik
T O N I G H T ’ S S P E A K E R

31. Growth & Product Roadmap
Gustaf Alstromer & Hendra
Y Combinator Partner & Alum

32. Partner Product Hustler

33. Payfazz Team
2016-2019

34. Payfazz Team
2016-2019

35. Payfazz Team
2016-2019

36. Payfazz Team
2016-2019

37. Startups = Growth

38. Airbnb Growth team 2015

39. Ycombinator Growth 2005-2019

40. Payfazz Growth
2016-2019

41. Payfazz Team
2016-2019

42. Why is growth important?

43. Who is this talk really for?

44. Disclaimer: This advice doesn’t
apply to everyone yet

45. 1.5B
1.25B
1.0B
750M
500M
250M
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Translations
Mobile
Internet.org
Facebook’s growth story

46. Natural adoption will always slow
down over time but...

47. You can impact your
growth rate.

48. Don’t have a growth team if you
haven’t found product-market-fit

49. 1. Identify the metrics that represent the value my
users get from my product
1. Measure the repeat usage of that metrics
Product Market Fit

50. Measuring product market fit
Company Metric that represent value Ideal frequency
Airbnb Bookings / Stays Annual
Facebook Active users Daily
Gusto Running employee payroll By-weekly/Monthly
Lyft Rides Weekly/Monhtly
Payfazz Transacting Agents Daily/Weekly

51. Now, measure your retention

52. Metric
(in %)
Time

53. Measuring retention. This is a bad product

54. This is a great product with product market fit.

55. 10% after 1 month. 12% after 12 months.

56. Shopify

57. 50% after 1 month. 10% after 24 months

58. Blue Apron

59. 70% after 12 months. 30% after 7 years!

60. Netflix

61. 60% after 12 months. 38% after 2 years!

62. Payfazz

63. Raise your hand if you are
measuring your retention rate

64. There are also other ways to
measure product market fit

65. Growth or Marketing?

66. Growth channels & tactics

67. Three ways to grow at scale
1. Product Growth / Growth Engineering
3. Performance Marketing
5. Brand Marketing

68. • You product is a funnel
• Every step in the funnel have drop-off
Product Growth:
Conversion rate optimization

69. Conversion rate optimization Areas
• Internationalization
• Authentication
• Onboarding
• Purchase conversion

70. Company Ideal frequency
Is this a rare behaviour that people use Google
to find a solution?
Google SEO & SEM
Do existing users already share your product via
word-of-mouth?
Virality & Referrals
Does having more users improve the
experience?
Virality
Do I already know who each of my future users
are?
Sales
Do my users have high LTV? Paid Acquisition (Facebook, Google etc)
Growth channels to explore

71. Referrals & Virality

72. Referrals Word-of-mouth is Airbnb’s largest growth
driver
Referrals is engineered word-of-mouth

73. Referrals Product

74. Referrals Funnel
View referrals page
Users sending invites + Sharing
Reach (Invitees Per Inviter) + Sharing
Conversion Rate to New User
Weekly active users who saw entry point
Conversion Rate to New Guest / Host
First time nights
Email Direct Email ImportDirect
Referral
“Hooks”
Invitation
s
Sign
Up
Booking
s

75. Referrals Invite
email

76. Social
proof
Social
proof
Exclusivit
y
Urgenc
y
Clear
value
Referrals Invite
email

77. Paid Growth

78. Paid Growth
• Don’t do paid growth if you don’t have revenue
• CAC = Customer Acquisition Cost
• CAC / Payback time (Most important metric in online marketing)
• Attribution
• Channels: Facebook, Instagram, Google, Youtube

79. Search Engine Optimization

80. What you see

81. What Google see

82. SEO - Two main levers
On-page optimization
• Every optimization starts with keyword research.
• Which page am I trying to rank for what keyword?
• SEO Experimentation
Off-page optimization
• Who is linking to you?

83. Making Decisions

84. Most of the world will make decisions
by either guessing or using their gut.
They will either be lucky or wrong.
- Mixpanel

85. Decisions have consequences

86. Use experimentation to
validate your decisions

91. Experiment Review

93. Control Experiment
iOS Sharing Sheet
Metric: Shares

94. Place your bets

95. Control Experiment
iOS Sharing Sheet
Metric: Shares
+ 40%

96. Control:
“Join Joe’s Trip”
Experiment:
“Accept Joe’s Trip Invitation”
Airbnb Trip Invitation Email
Metric: Signups

97. Control:
“Join Joe’s Trip”
Experiment:
“Accept Joe’s Trip Invitation”
Airbnb Trip Invitation Email
Metric: Signups
+ 14%

98. Control Square buttons w.
Labels
Sharing Icons
Metric: Shares
Round Buttons

99. Control Square buttons w.
Labels
Sharing Icons
Metric: Shares
+ 18%
Round Buttons
+ 52%

100. Product decisions are hard

101. 1. Startup = Growth
2. Measure your retention
3. Choose a north star metric and set a goal
4. Build a culture of experimentation
Summary

102. Email: hendra.kwik@payfazz.com
Linkedin: Hendra Kwik, IG: @hendra.kwik
Thank you &
Questions

103. www.productschool.com
Part-time Product Management, Coding, Data Analytics, Digital
Marketing, UX Design, Product Leadership courses and Corporate
Training