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How to Find & Prioritize the Best Growth Ideas by Josephine Foucher, PM - Optimization, Hotwire
1.
How to find and priori-ze the best growth ideas Josephine Foucher - Product Manager at Hotwire jfoucher@hotwire.com Trac%on 2016
2.
Agenda • Build the
culture • Find the best ideas • Set up the process 2
3.
Build the culture
4.
“The defini*on of insanity is doing the same thing over and over again, but expec*ng different results” - Albert Einstein
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.
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.
Control Variant 1 Winner Loser Variant 2 Celebrate insights not just winners Give permission
to fail to allow great discoveries
8.
Find the best ideas
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 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 Educate Be crea-ve Empower people Engage the whole company Different teams
have different lenses, get them involved
12.
Set up the process
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.
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 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 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.
Thank you! Josephine Foucher - Product Manager at Hotwire jfoucher@hotwire.com
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