The Butterfly Principle for Product Management by GameBench CEO
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The document summarizes a talk on product management and digital product development. It provides an overview of the speaker Sri Iyer and their experience in mobile and as a product coach. The bulk of the document outlines the speaker's discussion points on topics like understanding customer needs, developing minimum viable products, using agile methodologies, content marketing strategy, and metrics for product success.
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The Butterfly Principle for Product Management by GameBench CEO
- 1. www.productschool.com The Butterfly Principle for Product Management by GameBench CEO
- 2. FREE INVITE Join 30,000+ Product Managers on
- 3. COURSES Product Management Learn the skills you need to land a product manager job
- 4. COURSES Coding for Managers Build a website and gain the technical knowledge to lead software engineers
- 5. COURSES Data Analytics for Managers Learn the skills to understand web analytics, SQL and machine learning concepts
- 6. COURSES Digital Marketing for Managers Learn how to acquire more users and convert them into clients
- 8. Who is Sri? - Wise soul with long history in mobile - Entrepreneur and ex-CTO - Design thinker - Solves problems with realistic budgets - Product coach at Oxford University’s Said Business School - Tech enthusiast and advisor
- 9. Product Series By Prim Digital - Intro to Digital Product Management - Content Marketing’s role in Product Management - Design thinking in Product Management - Selling Digital Products - Product-a-thon
- 12. The customer lives in a different world now Customer feedback drives product adoption or could kill a business
- 15. The digital customer is needy, greedy But Somewhat trusting in this world driven by tech
- 16. Obsessing about the customer problem
- 17. Find out what your customer does
- 19. - Want - NeedVs.
- 20. You are here to solve problems and delight your customers with innovative digital products
- 22. What will you do as a PM
- 25. The problem statement If you can't get this right you can't build a product
- 30. What happens when you lose a bit of focus and let tech takeover
- 32. Don't forget to create delightful experiences which are both ..
- 33. Seamless
- 34. And Intuitive
- 38. Now let’s build products So what’s a MVP A Minimum Viable Product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.
- 42. Don’t focus just on the Tech
- 43. Idea to prototype in 60 minutes
- 44. Use Agile to deliver and react quickly to customer requirements
- 45. Enticing users Optimising the marketing funnel
- 47. The role of Content Marketing In this feedback driven digital ecosystem, customers want the truth from other users and the product creator
- 51. Tell a story Evoke an emotion, Make the customer connect with the brand
- 52. Don’t sell too hard Benchmark your conversion first
- 54. You are going to solve bigger problems and will need all the tools
- 57. State the problem Create a convincing MVP Test your hypothesis Pick a good CRM Plan your content strategy (topic clusters, blogs, email marketing etc). Plan an adwords campaign. Develop your product with Agile, test, test, optimise and test with users Establish pricing and delivery Drive traffic into your funnel (social, online, offline). Plan a strategy to keep users engaged and to bring disengaged users back. Keep competitors close. Ignore myths and boilerplate strategies. My 10 point rule book
- 58. www.productschool.com Part-time Product Management, Coding, Data, Digital Marketing and Blockchain courses in San Francisco, Silicon Valley, New York, Santa Monica, Los Angeles, Austin, Boston, Boulder, Chicago, Denver, Orange County, Seattle, Bellevue, Toronto, London and Online
Notas do Editor
- The gamebench story and the struggle.. It was really hard in the first 3 years. Our MVP was an app that we first launched in 2014. It was barebones. We knew it solved a hard problem but it was very hard to get our message across with a small budget. Today - 4 years in - we are still small but already profitable , some of the biggest phone makers use, biggest studios, FB, even Google use this it. If you have one of these Note 8, S9, S10s.. it has GB running in the background What was the turning point, (besides a product that works?) - Customer loop - We observed behavior based on the first product we launched in google play Feeback was limited but we made good assumption and then created an MMP that we show to people not just tell them about Let people play with it - see what they did - and as they played, we learned Ask them ‘never works’- you really need to see what they do and where they struggle get other people to talk about your product. In this case - journalists, reviewers, tech blogger. Got Samsung’s attention
- Well - Nothing has fundamentally changed for centuries. We import and export products, knowledge, Tools to do things, software. People shout to sell, there are colorful displays. We negotiate, we sell. In fact, we still have a marketplace (such as Amazon) where all of us can sell whatever we want. What has changed? (customer centricity and their feedback)
- Customer is king - why. Feedback matters, they are not really loyal, they are a pain but enterprises have realised that you have a much better chance at succeeding if the customer is happy and engaged. As one-time sale is no good, continuous sales
- The list is almost infinte now. Our decisions are almost entirely governed by what others say! You dont even have to know the person. We believe in tech and trust these platform and reviews. In a way tech as made us more trusting - Uber, Airbnb. I would say its good and bad but the bottom line is - we dont mind trusting these reviews as long as the perception is ‘its customer review’
- They trust the platform Uber/AirBnB, other reviewers (unknown to them) assuming there are checks and balances in place
- Important for startups and young companies The customer always has a problem. Its hard to really understand what the customer problem is - asking them doesnt give the full picture. You really have to observe them to get an idea of what they ‘do’ not what they want. If you ask the wrong question you get the wrong answer
- This is one way. But there might be legal and less creepy ways. Anyone?
- You dont realize but you are letting people watch you (albeit not literally) but pretty precisely. This is the way to understand what customer do, what they buy, what they see, what they search etc. clicktale, Hotjar, cookies
- Example of when I was at Euromoney, I was the CTO - financial service firm who wanted us to have a table so we he can download with the right columrn, the marketing person was feeding that as a customer requirement and when I questioned the change that would affect all our customers but I was I dont understand customer requirements
- Its hard to really understand what the customer problem is - asking them doesnt give the full picture. You really have to observe them to get an idea of what they ‘do’. So you need to turn into a peeping tom
- Its hard to really understand what the customer problem is - asking them doesnt give the full picture. You really have to observe them to get an idea of what they ‘do’. So you need to turn into a peeping tom
- That brings us to a key question - what will you do as a PM. You need a mini CEO reponsibile for everything that deals with the product
- You will work with a busy CEO, who has too much to do. He needs to satisfy the shareholders, the market, customers, other employees
- PM role is far more complex that initially envisioned
- Get a grasp of the obvious. Let your team know;
- Its hard to really understand what the customer problem is - asking them doesnt give the full picture. You really have to observe them to get an idea of what they ‘do’. So you need to turn into a peeping tom
- How many of you have startups here? Can you do the same?
- What might be the problem statement here
- Nice problem statement. The problem was that he didnt understand the social issues, there were tech issues
- A company I advice. Key Infuser What do you think is the problem statement here?
- UX has not changed like forever. But they keep improving (or regressing)
- Should take <10 secs to get it
- Its hard to really understand what the customer problem is - asking them doesnt give the full picture. You really have to observe them to get an idea of what they ‘do’. So you need to turn into a peeping tom
- Uber for food idea. Local cook, mums make food for that authentic feel. We had to come up with a MVP that was really simple and easy to implement without investing in an expensive platform. So what did we do?
- The gamebench story and the struggle.. It was really hard in the first 3 years. Our MVP was an app that we first launched in 2014. It was barebones. We knew it solved a hard problem but it was very hard to get our message across with a small budget. Today - 4 years in - we are still small but already profitable , some of the biggest phone makers use, biggest studios, FB, even Google use this it. If you have one of these Note 8, S9, S10s.. it has GB running in the background What was the turning point, (besides a product that works?) - Customer loop - We observed behavior based on the first product we launched in google play Feeback was limited but we made good assumption and then created an MMP that we show to people not just tell them about Let people play with it - see what they did - and as they played, we learned Ask them ‘never works’- you really need to see what they do and where they struggle get other people to talk about your product. In this case - journalists, reviewers, tech blogger. Got Samsung’s attention
- MVP is something really simple to test out your hypothesis
- Its hard to really understand what the customer problem is - asking them doesnt give the full picture. You really have to observe them to get an idea of what they ‘do’. So you need to turn into a peeping tom
- My framework that I use with students. 2 things you cant lose focus on The customer problem (how deep will you go to solve all problems) That a business exists mainly to generate revenue (how long will you wait to start generating revenue)
- One such tool in development is Agile. Not going into much detail but
- Whats good and bad about this? The value of content over fluffly product marketing
- Gamebench proved with hard evidence that his was BS. Intel has now pulled out of mobile. No amount of marketing dollars can save Intel
- The gamebench story and the struggle.. It was really hard in the first 3 years. Our MVP was an app that we first launched in 2014. It was barebones. We knew it solved a hard problem but it was very hard to get our message across with a small budget. Today - 4 years in - we are still small but already profitable , some of the biggest phone makers use, biggest studios, FB, even Google use this it. If you have one of these Note 8, S9, S10s.. it has GB running in the background What was the turning point, (besides a product that works?) - Customer loop - We observed behavior based on the first product we launched in google play Feeback was limited but we made good assumption and then created an MMP that we show to people not just tell them about Let people play with it - see what they did - and as they played, we learned Ask them ‘never works’- you really need to see what they do and where they struggle get other people to talk about your product. In this case - journalists, reviewers, tech blogger. Got Samsung’s attention
- Brand marketing but make an emotional connection to let people know you care about your customers. Any story tellers in the room?
- Dont sell until you have to. Because the deeper they are down that engagement funnel The more likely they will pay Less sales effort And they will repeat
- Keep on top what your clients engage with and measure that in CRM by persona/company. Listen to them, talk to them, engage - create a community feel and then upgrade them to better products. Selling more will never be a concern after this
- Its hard to really understand what the customer problem is - asking them doesnt give the full picture. You really have to observe them to get an idea of what they ‘do’. So you need to turn into a peeping tom
- Cloud, AI, Mobile, Bigdata, Robotics, iOT, Cybersecurity
- Its hard to really understand what the customer problem is - asking them doesnt give the full picture. You really have to observe them to get an idea of what they ‘do’. So you need to turn into a peeping tom
- Use common sense to solve problem as you are the customer too