Taking Your Product From 0 to 100 by Facebook Product Manager
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Key takeaways: - Taking your product from 0 to 100 (and everything in between). Depending on the product/ initiative stage in the lifecycle: Alpha (0 to 1), Beta (1 to 10) or Growth (10 to 100) - What are the success criteria and KPIs to focus on - Which common pitfalls should be avoided
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Taking Your Product From 0 to 100 by Facebook Product Manager
- 1. www.productschool.com Taking Your Product From 0 to 100 by Facebook Product Manager
- 2. Join 40,000+ Product Managers on Free Resources Discover great job opportunities Job Portal prdct.school/PSJobPortalprdct.school/events-slack
- 3. CERTIFICATES Your Product Management Certificate Path Product Leadership Certificate™ Full Stack Product Management Certificate™ Product Management Certificate™ 20 HOURS40 HOURS40 HOURS
- 4. Corporate Training Level up your team’s Product Management skills
- 5. Laurie Lhoyer T O N I G H T ’ S S P E A K E R
- 6. A bit about me...
- 7. A bit about me...
- 8. A bit about me...
- 9. A bit about me...
- 10. Key takeaways 1. What are the different stages of Product Success (0 to 1, 1 to 10, 10 to a 100)? 1. What are the success criteria to move from one stage to the next? 1. Which common pitfalls should be avoided?
- 11. Some knowledge refresher Acquisition Activation Retention Referral Revenue How do user find you? Do users have a great first time experience? Do users come back? Do users tell others? How do you make money?
- 12. “Make this product successful!”
- 17. Acquisition
- 20. Bad Retention
- 21. Bad Retention Acquisition Efforts Churned UsersChurned Users
- 22. Some examples
- 23. Some examples
- 25. “How do I build a successful product?”
- 26. | | | 0 1 10 100 Alpha As easy as 1, 2, 3...
- 27. |0 1 Alpha Phase Idea validation 1. Refine the problem 2. Identify your target market 3. Test your basic assumptions E.g. Surveys, waitlist signups, customer interviews, competitive insights (in other markets), small scale testing (alpha product)... Niche Mass Market Necessity Convenience
- 28. |0 1 Alpha Phase → Do not solutionise too early “Fall in love with the problem, not the solution”
- 29. |0 1 Alpha Phase
- 30. | | | 0 1 10 100 Beta Phase Product Market fit 1. Formulate a value hypothesis 2. Build an MVP to test your hypothesis 3. Iterate until you find success
- 31. | | | 0 1 10 100 Beta Phase Product Market fit 1. Formulate a value hypothesis 2. Build an MVP to test your hypothesis 3. Iterate until you find success A value hypothesis is an attempt to articulate the key assumption that underlies why a customer is likely to use your product. I believe [target market] will [do this action / use this solution] for [this reason].
- 32. | | | 0 1 10 100 Beta Phase Product Market fit 1. Formulate a value hypothesis 2. Build an MVP to test your hypothesis 3. Iterate until you find success
- 33. | | | 0 1 10 100 Beta Phase Product Market fit 1. Formulate a value hypothesis 2. Build an MVP to test your hypothesis 3. Iterate until you find success
- 34. | | | 0 1 10 100 Beta Phase Product Market fit 1. Formulate a value hypothesis 2. Build an MVP to test your hypothesis 3. Iterate until you find success Success needs to be quantifiable! Value metrics: ● Activation: Do users have a great first experience? ● Retention: Do users stay or come back?
- 35. “How do I know I found Product-Market Fit?” “Product/market fit means being in a good market with a product that can satisfy that market.” - Marc Andreesen Some of the signs you have product-market fit: ● Amazing Trustpilot/ Play Store/ App Store ratings ● Great Net Promoter Score (NPS) ● Noticeable word-of-mouth ● Strong advocates/ organic ambassadors (Forums, FB groups, …) ● ...
- 36. | | | 0 1 10 100 Growth Phase Scaling 1. Acquisition a. Paid b. Organic 2. Referral 3. Revenue Not my area of expertise, but here is a great deck about “Organic Acquisition: How Acquire A Million Users with Zero Marketing” by Adrien Montcoudiol
- 37. www.productschool.com Part-time Product Management Training Courses and Corporate Training
Editor's Notes
- If you’re interested to connect with other Product Managers, aspiring PMs, or those within tech, join our Slack community of over 40,000 professionals. It’s a great place to network and to find interesting content. We host a weekly AMA through our Slack channel on Tuesdays from 11:15am - 12pm PST. We have also recently launched the Job Portal where you can find the latest Product Management opportunities! As members of the Product School community, we'd like to provide you with these resources at your disposal.
- Product School’s Product Management Certificate Path comprises of 3 part-time courses for professionals with strong technical or business background who want to further explore Product Management at software-based companies. During Product Management Training you will first learn Product Management fundamentals to understand the software product lifecycle and what it takes to successfully transition into a product management role. You’ll then be trained to retrieve data, understand its value and make impactful decisions with SQL, data visualization and Tableau. Learn to understand your users to deliver exceptional UX/UI design and develop a robust digital marketing plan. During the Full Stack Product Management Training, you will deep dive into the technical knowledge to enhance your ability to work with agile teams. Finally, Product Leadership Training will elevate your product knowledge to become an effective Product Leader. You'll do an in-depth analysis on how to implement best PM practices on a strategic level to significantly impact your company’s portfolio and revenue. Learn the soft skills to manage product teams and manage stakeholders to deliver performing products.
- As well as individual courses we provide corporate training across the world! If you’d like to upskill your product team this is the best option for you. We have trained employees from multiple companies such as Deloitte, Salesforce, JP Morgan, Bank of America amongst many other companies across all industries.
- Tonight's talk is “ [TITLE] ” with [NAME]. Welcome, [NAME].
- You will tell me: first mover advantage, but actually Addison Lee was in the market wayyyy before, but didn’t identify the needs of their customers.
- Problem is area is closely linked to Mission statement, and those can be team specific (if you work in a medium to large org). PayPal’s mission: “democratize financial services”. This translated to PayPal Here to enable card payments for all businesses. This process can take 2 hours or 2 months, depending on how deep you want to go into the research, how strong of a validation you want to have
- This process can take 2 hours or 2 months, depending on how deep you want to go into the research, how strong of a validation you want to have
- This process can take 2 hours or 2 months, depending on how deep you want to go into the research, how strong of a validation you want to have
- How do you know if you have product market fit? If you have it, things will be going so well (customer flocking in, amazing ratings on the app store/ google Play/ Trustpilot, advocates everywhere), you won’t even realise that you’re already in the next phase → Growth
- Feel free to speak with me and I can point you in the right direction (explain where to apply). Or you can visit www.productschool.com Have a good night!