Product Era is Here
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Sandhya Hegde, Product at Amplitude discusses the future of product-first companies and why companies are making the change
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Product Era is Here
- 1. How to Win in the Product Led Era
- 2. Engineer Partner, VC Fund Sandhya Hegde Director of Product Founder 20k Products Powered 2T User Actions Analyzed The Best Job Today BUILDING PRODUCT
- 3. The World of Product has Transformed
- 4. Pre-internet, Sales Owned the Biz
- 5. Web1.0 was a New Marketing Channel For Goods
- 6. Web1.0 was a New Marketing Channel For Goods
- 10. No Lock In Value Above All Else On Demand , No Ads
- 11. Sales Marketing Product 1995> 2005> 2015>
- 13. YOU ARE HERE Information on Product Usage has Exploded NOT ART, BUT SCIENCE WITH 12 ZETABYTES OF DATA Source: KPCB Internet Trends Report 2017
- 14. Product Led Companies are Taking Over
- 15. ``It’s not about people needing our software, devices or our applications, but loving them is the goal.” - Satya Nadella And it’s not just startups changing their ways..
- 18. And it’s not even just tech companies ..
- 19. How do Product-Led Companies work? ADAPT OR DIE
- 20. III Address the full Customer Journey 1
- 21. III Address the full Customer Journey Optimize for Speed of Innovation 1 2
- 22. III Address the full Customer Journey Optimize for Speed of Innovation Own the Business Outcomes 1 2 3
- 23. Address the full Customer Journey 1 • Distribute product, not ads • Track value, not vanity metrics • Productize solving every pain
- 24. Good KPIs are Always Deep into the Funnel Great product teams focus on critical events and optimize every possible path to get there Critical event Vanity metric
- 25. 1 Show Product, not Ads How to Address the full customer journey by shipping end to end experiences
- 26. 1 Track Value, not Vanity How to Address the full customer journey by shipping end to end experiences
- 27. 1 Solve Every Pain How to Address the full customer journey by shipping end to end experiences
- 28. 1
- 29. 1 5 or more 4 or fewer Retention for users who completed [x]Qs in Wk1 CRITICAL EVENT = COMPLETING A QUERY
- 30. 1
- 31. Optimize for Speed of Innovation2 • Small, cross functional teams • Empower with goals and data • Incentivize learning + impact
- 32. Decentralized “Squads” popularized in 2012 How to Move Fast …w/ good Infrastructure so you don’t break anything too important ;-) 2 Squad PO PO PO PO PO Squad Squad Squad Squad Tribe
- 33. Seeing Rapid adoption by Product Led Companies How to Move Fast …w/ good Infrastructure so you don’t break anything too important ;-) 2 Squad PO PO PO PO PO Squad Squad Squad Squad Tribe From: To:
- 34. Set Clear Goals w/ sufficient Independence How to Move Fast …w/ good Infrastructure so you don’t break anything too important ;-) 2 Squad PO PO PO PO PO Squad Squad Squad Squad Tribe Goal = Increase Week 4 New User Retention to 50%
- 35. Don’t Forget, Goals w/o Analytics => HIPPOs How to Move Fast …w/ good Infrastructure so you don’t break anything too important ;-) 2 Squad PO PO PO PO PO Squad Squad Squad Squad Tribe Goal = Increase Week 4 New User Retention to 50% Full access to data needed to know – what’s working and what’s not
- 36. Focus on Learnings and Impact, not # Features How to Move Fast …w/ good Infrastructure so you don’t break anything too important ;-) 2 Squad PO PO PO PO PO Squad Squad Squad Squad Tribe Goal = Increase Week 4 New User Retention to 50% Full access to data needed to know – what’s working and what’s not Review weekly learnings and monthly impact
- 37. Own the Business Outcomes3 • Leading metric of business wins • Highly correlated to net revenue • Broken down into discrete
- 38. Set the right North Star: (1) leading, (2) correlated How to connect Business Outcomes to Product Metrics using Data Science 3 Items Received =
- 39. f(Star) = Breadth How to connect Business Outcomes to Product Metrics using Data Science 3 Items Received = # Users Placing Orders • New Users • New Subscribers • Trial Conversion
- 40. = f(Star) = Breadth X Depth How to connect Business Outcomes to Product Metrics using Data Science 3 Items Received # Users Placing Orders X # Items in Order • Recommendations • Real time stock management • Usability, shopping lists
- 41. = f(Star) = Breadth X Depth X Frequency How to connect Business Outcomes to Product Metrics using Data Science 3 Items Received # Users Placing Orders X # Items in Order X # Orders Completed • Notifications/reminders • Short-fuse sales
- 42. = f(Star) = Breadth X Depth X Frequency X Efficiency How to connect Business Outcomes to Product Metrics using Data Science 3 Items Received # Users Placing Orders X # Items in Order X # Orders Completed X % Items Delivered • ML Algorithm handles 85% of replacements • Connecting to customers
- 43. PM is the New GM
- 44. Takeawa ys • Shifting trends in technology and consumer choice have made product central to orgs • Product led companies are winning in this era • Three key ingredients needed to be product-led • Address the whole customer journey • Optimize for speed of innovation • Own the business outcomes • PM is the new GM: no leadership without
- 45. Thank You
- 46. ???
Editor's Notes
- My name is Sandhya Hegde and I am the Director of Product at Amplitude. Take this from someone who has had a variety of interesting, hyped up jobs in the past – not including bollywood actress - I am here to tell you that building product is the best job you can have today. How many people here are part of a product development team? Managers? Engineers? Designers? Almost everyone. The rest of you I am not sure why you came but thanks. We are serving drinks at the bar. Here’s why building product is the best job you can have today.