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How to Find & Prioritize the Best Growth Ideas by Josephine Foucher, PM - Optimization, Hotwire


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June 22 & 23, 2016 at

Published in: Marketing
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How to Find & Prioritize the Best Growth Ideas by Josephine Foucher, PM - Optimization, Hotwire

  1. 1. How to find and priori-ze the best growth ideas Josephine Foucher - Product Manager at Hotwire Trac%on 2016
  2. 2. Agenda • Build the culture • Find the best ideas • Set up the process 2
  3. 3. Build the culture
  4. 4. “The defini*on of insanity is doing the same thing over and over again, but expec*ng different results” - Albert Einstein
  5. 5. 5 Create your network of promoters Find your champions Engage different teams Product Engineering Design It takes a village to build a growth culture
  6. 6. Make people vote and prove them wrong! 6 Socialize results Make sure your results don’t get buried Build a repository of examples •  Biggest WINNERS •  Biggest LOSERS
  7. 7. Control Variant 1 Winner Loser Variant 2 Celebrate insights not just winners Give permission to fail to allow great discoveries
  8. 8. Find the best ideas
  9. 9. 9 Start with your strategy Company strategy Business goals Growth program goals Test Hypothesis Define your strategy to know where you want to go then use tes%ng to get there
  10. 10. 10 Understand where you stand Analy-cs Bounce/funnel analysis Error analysis Top customer behavior Voice of the customer Feedback Survey User tesRng Benchmarking Industry standards InnovaRons Customer trends You are not solving a generic problem, know yourself
  11. 11. 11 Educate Be crea-ve Empower people Engage the whole company Different teams have different lenses, get them involved
  12. 12. Set up the process
  13. 13. • Highlight what you are proposing • Outline your success metrics • State your reasoning Frame your ini-a-ves as Hypotheses 13 Bad Example: “If we structure the details page in a more diges6ble way then we can increase GPPQ because customer will find relevant info more easily Good Example: “Let’s test a different book buCon colour.” IF … THEN … BECAUSE …
  14. 14. Priori-ze hypothesis for ROI 14 High Low High Low Value Effort Validate Hypothesis Do it! Forget it If you have the resources
  15. 15. 15 Build Knowledge Loser or Inconclusive •  Strategic value? •  Bad execuRon? Iterate Move on Winner Amplify No Yes Use past results to inform next steps Promote
  16. 16. 16 In summary: Culture, Ideas, Process Process •  Use hypotheses •  PrioriRze •  Build knowledge 1 2 3 Culture •  Find your promoters •  Socialize results •  Celebrate insights Ideas •  Define your strategy •  Know yourself •  Get people engaged Your turn!
  17. 17. Thank you! Josephine Foucher - Product Manager at Hotwire