Uploaded byJohn Gibbon
Product Discovery At Google
The document outlines the strategies and methodologies for product discovery at Google, emphasizing the importance of high-fidelity prototypes and effective product innovation funnels. It discusses various sources for product ideas, success metrics, and the roles of different stakeholders in the product development process. Key concepts include analyzing market opportunities, understanding customer pain points, and developing competitive business models to foster product success.
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Product Discovery At Google
- 1. Product Discovery @Google John Gibbon 9/1/09
- 2. • Features andProducts • Products and Product Lines • Marty Cagan: High Fidelity Prototypes • Roadmaps: Telling a Story • Organizational Responsibilities Spectrum Product Discovery
- 4. • Internal ▫ Stakeholders& experts, • Clients ▫ Site Analytics, Surveys, Client Visits, Informal Conversations, Usability Testing, • Outside Experts ▫ Your Network, Partners/Suppliers, Magazines, Trade Associations Conferences, Market Influencing Clients • Internet and Published Sources ▫ Blogs, Traditional Publications, Trade Journals, Competitor websites, Google, Quantcast, Company listings (Hoovers, Tradevibes), Tradeshows, Industry Research (Forrester, Gartner, Yankee, IDC, Giga) • Other • Market and Demographic Analysis, Other Industry Best Practices Where Get Product and Feature Ideas?
- 5. Success Metrics -Revenue -Market Share -NewUsers -Increase Usage -Increased Customer Satisfaction: NPS -Other?
- 6. The Biggest Roadblockto Effective Product Strategy in Most Companies is Lack of effective Product Innovation Funnel
- 7. Product Innovation Funnel •Analyze and prune at every stage • How (metric?) • Who (PM, VP, Product Board)? • OK to fail
- 8. SHORT TERM DELIVERABLES FORLONG TERM GOALS
- 9. Why Supporting Sales(Customer Support) Isn’t too Bad … • While training sales is required and • Customer surveys and site analytics are important • Talking to actual users is imperative • Basic client analysis
- 10. WULA • Who areyou? ▫ Your company, your role (analyst, “Mom”) • What do you do? ▫ What problems trying to solve? How do you provide value? • Win: ▫ Why us? What didn’t like? • Usage: ▫ What problems solving with what features? • Loss / Attrition: ▫ Why not us? How solving now? Is there a feature / issue resolved in which consider later?
- 11. Ideas for Productsand Product Lines
- 12. Where should wego? Why will we be successful there? How do we get there? • Problem? ▫ Opportunity • Solution? ▫ Unique offering or breakthrough (IP) ▫ Why you? Competition? • Business Model ▫ How make money? ▫ Money need? ▫ Team Company or Product Portfolio Strategy
- 13. Is There AnOpportunity? • Is there customer pain? • Is the pain sufficient to generate a compelling reason to buy? PAIN REASON TO BUY Sue Barsamian: “Reality Marketing for Startup”
- 14. Is The OpportunityBig and Growing? • Are there enough customers with this profile to make a market? • Is it growing? PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY PAIN REASON TO BUY Sue Barsamian: “Reality Marketing for Startup”
- 15. How To SizeYour Market Build a tops down and bottoms-up model for your market • Empirical • Qualitative research Your revenue and unit forecast • Analyst data • Proxy modeling Total Market Total Addressable Market Your Projected Share Sue Barsamian: “Reality Marketing for Startup”
- 16.
- 17. Why will webe successful there? -Core Competencies / Differentiation -Mission -Competitive Analysis
- 18. How do weget there? -Financial / Dev Plan -Tech Strategy -Partnering Strategy
- 19. Red Ocean Strategy Blue Ocean Strategy Competein existing market space Create uncontested market space Beat the competition Make the competition irrelevant Exploit existing demand Create and capture new demand How to Create Uncontested Market Space and Make Competition Irrelevant – Kim and Mauborgne
- 20.
- 21. The Boston ConsultingGroup’s Growth- Share Matrix 20%- 18%- 16%- 14%- 12%- 10%- 8%- 6%- 4%- 2%- 0 MarketGrowthRate 10x 4x 2x 1.5x 1x Relative Market Share .5x .4x .3x .2x .1x Dogs 8 7 3 ? Question marks ? 2 1 Cash cows 6 Stars 5 4 Accelerate a Few Divest Most Liquidate Harvest Invest
- 22.
- 23. •New Product vs.Mature Product •New Market vs. Existing Market •Short Term vs. Long Term Revenue •Usage vs. Revenue •Client A vs. Client B •Research vs. Development •High Risk vs. Low Risk Strategic Balance Trade Offs Trade-Offs
- 24. Marty Cagan andProduct Discovery 1. Valuable 2. Usable 3. Feasible
- 25. Document Use Caseswith Prototypes 1. Better Understood Since Closer to Actual Experience 2. Different Fidelity / Technologies: - Lower Fidelity -PowerPoint / Visio (Storyboarding) - HTML / Code Development Tools: - Weebly, Google Sites, Dreamweaver, FrontPage, etc. - VisualBasic, etc. - High Fidelity Prototyping Tools: -Axure, Irise, etc
- 26. Requirements: High FidelityPrototypes 1. Realistic Enough to Test Idea with Target Customer 2. Refine Business Idea Before Commit 3. Helps Product Be Better Understood Throughout Org 4. Underlines Functionality and User Experience Intertwined 1/29/09
- 27.
- 28. Roadmaps • Product Vision •Product Themes • Specific Enhancements ▫ Market Penetration ▫ Market Development ▫ Product Development
- 29. 2008 Products Portfolio /Feature Roadmap * Items in italics are tentative and subject to further planning 2009 2010 Improved Analytics Product Line B (with product B1 , B2, and B3) Investigating in ‘08 & ‘09; releasing some in ’09 & ‘10: China, Latin America, Italy, Brazil, Russia, Partner X – Analytics / Biz Intelligence Partner Y (CRM), Partner C (ERP) New Algorithms Introduced Upgrades Improved Reporting Last updated 10-Sept-08 Localization (New Markets) Improved Analytics SaaS Version Available Upgrades Third Party Integration Product Line A (with product A1 and A2) SaaS Version Available Product A1 – Integration with Data Integrator product Also investigating mobile … Product Vision “Strengthen the Standard by growing products and markets for our product” or “Enabling CFOs …” “making the joy of giving fun and easy to experience….”
- 30.
- 31. Tell a Story (dependson your message and your audience but …)
- 32. Other Roadmap Formats (BrianLawley 280Group “Expert Product Management”) • Internal or External Facing • Trends: • Competitive, Market, and Technology • Technology: • External Factors / Internal Dev • Checkout 280Group Product Roadmap Toolkit
- 33. 3 Year TechnologyRoadmap 2006 2007 2008 Platform Products Tools Release 1 Release 2 Release 3 Product 1 Product 2 Product 3 Product 4 ©2006 280 Group LLC. All rights reserved.
- 34.
- 35. Product Responsibilities Spectrum •Engineering - How • Project / Program Management - Organizing development and release/launch tasks • Product Management - What / Inbound (“product owner/GM”) - Agile “Product Owner” and “Product (Marketing) Manager” • Product Marketing - Messaging / Outbound • Marketing Communications – Company level communications: branding and advertising
- 36. Product Feature Requests/ Ideas New Customer / Market Market Requirements Organization from a Product Process Viewpoint Existing Customers Pro. Services Executive Team QA/ReleaseDevelopment Product Management Doc/Support Post Deploy Support Sales Support Market Comm Features Test Results Function / UI Rqmts Docs Functional /UI Requirements Releases Releases What are your core competencies / value-add? What can you contract? Financial, Legal, Admin, HR, IT, Support
- 37.
- 38.
- 39. Basic Financial Plan •Assumptions 2009 2010 2011 • # Customers / Unique Visitors • # Employees • Revenue • Subscription / License • Advertising / Partnership • Professional Services • Cost of Goods (Sales/Service) • Gross Profit (Rev – COG) • Operating Expenses • Product Development • Marketing • General and Administration • EBITDA (Gross Profit – Expenses) (basic P&L) • Cash Needs
- 40. Market Segment Analysis SegmentNeeds How Satisfy % Our Sales % Industry Sales Size/Gr owth Rating (1-5) Consumer SMB Large Enterprise Linda Gorchels: “The Product Manager’s Handbook
- 41. Basic Competitive Analysis DescriptionStrengths Weaknesses Price Product A Product B Product C
- 42. Competitive Analysis Via AdvertisedPositioning ERP Accounting Vendors Lawson MBS Best SAP Oracle SSA Understand SMB Needs X Understand Biz Fundamentals X Flexible, Adaptable X X X Affordable X X X Lawson Abinanti “Messages That Matter” Assess key success factors in your industry and how others stack up
- 43. Competitive Analysis Alternatives TodayFuture Implications Direct Competitors Substitute Budget Organization Linda Gorchels: “The Product Manager’s Handbook
- 45. Your Value Proposition ForTarget Customer Who Problem / Pain ( “must have” not “nice to have”) The Product Name / Product Category That Solution / Key Problem Solving Capability Unlike Competitors / Alternatives Our Product Key Differentiators / Product Features