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ProductSense 2019 Highlights

Our product management team has visited the most powerful product management conf in Eastern Europe (1100 participants, 69 speakers). We want to share the most interesting information for crypto business and everybody.

1. Many teams with strong Agile background (development-oriented) are mixing up roles of Product Owner and Product Manager. While they overlap to some extent, it is crucial to understand core differences between these two.

We are more interested in Product Manager role, since he is the one who responsible for value delivery to end customers and overall success of product on market. Product Owner is focused on building products, not responsible for any user research, customer development and analytics.

© dimitrov ivo

2. Every company has divisions, that should be focused on different metrics and have different mindset. When startup is small and want to achieve great growth, it is wise to have a separate growth team, that has AARRR metrics as their main objective.

3. Idea presentations instead of brainstorming is the great tool to fight with internal strifes from team. Everybody prepares his hypothesis in advance, packages it and tries to sell to the team in free minutes. If not, sorry. You’ll have another chance next time.

4. Forming hypothesis correctly

  • Hypothesis is formulated in “if …. than …” format
  • Indicated closest metric to track
  • Metrics for change tracking are clear
  • Hypothesis must be complemented with screenshot from Analytics
  • Positive impact should be defined in advance
  • Costs for growth should be evaluated
  • Hypothesis must be interpreted unequivocally

When hypothesis description contains all of this points it’s easy for a team to evaluate it and make a decision. It saves time and helps to reduce an amount of invalid hypotheses for testing.

In order to prioritize hypotheses could be used ICE scoring model:
ICE score = Impact × Confidence × Easiness

5. Five hypotheses minimum are tested by any good team weekly.Hypothesis should be tested quickly and easily because eventually only 10% оf them will work. And 9 of 10 hypotheses go to trash can. You can’t waste time on them otherwise you have no chance to find a real diamond.

6. Onboarding is selling a faith that product can solve specific customer’s problem. A specially in crypto world where most people still can’t indicate their needs properly, you should identify their needs and demonstrate them the solution and use cases ASAP. Don’t just show how your product works and what user should do, show him what he gets.

(С) Tsvik Mikhai

7. Getting feedback from users is vital. Not only metrics can provide you useful information. Live communication with user can give you outstanding results. Use informal interaction with your customers to get insights: invite them to your office, organise a party, involve them in a game. Try to discuss your product and their experience informally. Talk not only about your product, but about customers needs.

And push all your team members to interact with users not only marketing guys. ( case)

(С) Rob Fitzpatrick

And finally! Don’t stop studying and making experiments. Stay hungry for new knowledge!

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