Product strategy in the time of COVID-19 and beyond

I gave a talk for the allWomen Tech Academy in Barcelona, in the spring of 2020 and these are the slides I presented.

If you'd like to know more about the subject, you can watch the webinar: https://www.youtube.com/watch?v=1peXklMQ3TE or read the adapted version: https://link.medium.com/NG7mjTGBN6

Transcript

1. 1 Product strategy in the time of COVID-19 and beyond
2. 2 Adelina Mihala Product Manager PM Teacher Organizer
3. Agenda 1. The shift in user behavior 2. Big winners of the social distancing conjuncture 3. Product strategy for the “new-normal” era 4. Best product strategy practices from leading brands 5. Q&A and discussion 3
4. 4 The shift in user behavior
5. Shift in consumer behavior is reflected into web & mobile traffic 5
6. Some verticals are being negatively impacted by coronavirus A UK-based fashion retailer’s search traffic dropped by 40% People are postponing large purchases 6
7. Other verticals have seen spikes in usage during social distancing 7
8. Big winners of the social distancing conjuncture 8
9. Time spent on mobile surges 9
10. Entertainment and social apps are getting a lot of our attention +40% 5 Million 141 1.2 Billion 10
11. Use of commodity and education apps is spiking #1 +30% 40% +580% 11
12. Product strategy for the “new-normal” era 12
13. Don't ignore the elephant in the room • Anticipate and act accordingly 13
14. Turn to market research reports, barometers, and trends to understand your market 14
15. Find insights by looking at your own users’ behavior User behavior User reviews Audience intelligence User testing and surveys 15
16. Benchmark competition • Wish reviewed its ASO strategy to be more in line with the search trends on App Stores 16
17. Shift your messaging Promotional messaging Product benefits Adapted to users’ needs Reactive communication Proactive communication Empathetic messaging 17
18. Best product strategy practices from leading brands 18
19. Nike’s strategy to go back to growth • March - May sales in China should be on par with the year-earlier period. • Nike shares shot up 10% 19
20. Airbnb • From in-person to online experiences • Helping frontline workers and isolated seniors • Full refunds for guests • $250M relief package for hosts 20
21. Chinese companies have leveraged new technologies against economic downturn Alibaba’s TaoBao JD 21
22. eCooltra • Thoughtful messaging • Engages users in fun ways & stays top of mind • Reassuring message addressing safety and health concerns 22
23. Feverup • At-home experiences section • Communicates the refunding policies • In line with the authorities’ measures 23
24. Recap 24
25. 25 “RIP Old times”: raise awareness Think holistically Adapt your product’s features: act fast, learn fast Take evidence-based decisions Adapt your roadmap, stay agile Key takeaways Tweak your messaging: align on all channels Have your potential users in mind: growth Use the power of your toolstack Make your product helpful
26. Thank you! 26 Contact me @ Linkedin - Adelina Mihala productknowmad@substack.com https://productknowmad.substack.com/
27. 1. What are, in your opinion, good examples of brands that are coping well with the crisis? 2. What are you doing in your company to adapt your product strategy? 27