Building the RIGHT PRODUCT for the RIGHT CUSTOMER - ProductCamp LA 2014

Presented during ProductCamp LA on Saturday, March 1st, 2014.
Website: http://productcamp.la
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SESSION DESCRIPTION:

A lot of things need to go RIGHT to be successful. Successful products require:
...Building the RIGHT product...
...for the RIGHT customer...
...in the RIGHT market...
...using the RIGHT technology...
...at the RIGHT time...
...by the RIGHT team...
...with the RIGHT amount of luck.
Come learn some strategies for building the right stuff. :)

Transcript

1. BUILDING THE RIGHT PRODUCT
   FOR THE RIGHT CUSTOMER @mattdanna
2. with the right amount of luck... Building the right product for the right customer in the right market by the right team using the right technology at the right time SUCCESSFUL PRODUCTS REQUIRE....
3. SOME USER AUDIENCE RESEARCH...
4. Designers?
5. Engineers?
6. Product Managers?
7. Matt Danna VP, PRODUCT Fullscreen is a new media company that powers the creation and sharing of content for the connected generation.
8. IT / Human-Computer Interaction Software Engineer Product Designer Product Marketing Manager Product Manager Innergy Labs Freelance
9. WHAT IS PRODUCT MANAGEMENT?
10. “The Biz” Technology User Experience Product! –Martin Ericksson
11. investigate opportunities define solutions* “To discover a product that is valuable, usable and feasible.” –Marty Cagan
12. Investigate & Assess Opportunities: SUPPORT TRENDS USER FEEDBACK DESIGNERS ENGINEERING BUSINESS STAKEHOLDERS MARKETING SALES MARKET TRENDS USABILITY TESTING NEW TECHNOLOGIES ITERATION USER BEHAVIOR BUGS
13. Outline features & functionality, the user experience, and the release criteria Define Solutions (Product Discovery) The process of discovering the solution to an opportunity
14. PRODUCT MANAGEMENT VS. PROJECT MANAGEMENT
15. PRODUCT MANAGEMENT
16. PROJECT MANAGEMENT
17. FAST
    GOOD
    CHEAP
    PROJECT MANAGER TRIANGLE
18. FAST
    GOOD
    expensive
    
19. GOOD
    CHEAP
    slowww
    
20. FAST
    CHEAP
    crap
    
21. FAST
    GOOD
    CHEAP
    PROJECT MANAGER TRIANGLE “impossible”
22. FAST
    GOOD
    CHEAP
    Research, Design, & QA Product Engineering
23. investigate opportunities define “inexpensive” solutions
24. BUILDING THE RIGHT PRODUCT
    FOR THE RIGHT CUSTOMER
25. What’s the first step in building the right product? ?
26. Don’t build the product!
    Building = expensive
27. “Desire Path” Image credit: Google Maps
28. Determine who your user is
    CUSTOMER DEVELOPMENT
29. Selective service
    Be critical regarding what customer you’re trying to serve
30. Customer Development capabilities: USER PERSONAS ONLINE INTERVIEWS COMPETITIVE ANALYSIS WEB ANALYTICS DATA MINING FOCUS GROUPS MARKET RESEARCH SURVEYS ONSITE VISITS TALK TO THEM IRL
31. VITAMIN OR PAIN KILLER?
32. Opportunity assessment
    How viable is the potential opportunity?
33. POEM FRAMEWORK Product Opportunity Evaluation Matrix (POEM) CUSTOMER PRODUCT TIMING FINANCE COMPETITION PRODUCT/ MARKET FIT?
34. ADOPTION PRODUCT/MARKET FIT TIME Discovery Stickiness Virality Revenue Scale TRACTION Courtesy
35. Prototype & Test
    Before building full product
36. CONCIERGE MVP (Minimum Viable Product... not Most Valuable Player) YOUR BFF!
37. Capitalized on lodging 
 shortage during a design conference in San Francisco. ! Founders sold space in their living room to validate whether customers were willing to pay for sleeping on air beds. Images credit: Shana Wright (
38. WIZARD OF OZ MVP (shhh there’s a wizard behind the curtain)
39. Nick Swinmurn founded Zappos.com in 1999. ! Validated the hypothesis that people 
 would buy shoes online without 
 having any actual inventory. Images credit:
40. Images credit:
41. Always question your 
 assumptions
    ! Put your ego and emotions aside
42. Mercedes “KEYLESS-GO” SOME OF THE BEST PRODUCTS DON’T HAVE AN INTERFACE Unlock Lock Images credit:
43. Define success
    Be opinionated!
44. METRICS: MEASURE TO LEARN & IMPROVE EXPLORATION investigate an assumption, look for causalities, validate customer feedback, validate internal opinions, etc. REPORTING measure progress, measure feature impact, see customer happiness/health, etc.
45. “PIRATE METRICS” ARE A GOOD PLACE TO START Acquisition Activation Retention Referral Revenue AARRR!!
46. Data influenced
    …Not data-driven
47. Quantitative Data Qualitative Data Competition User Interests Strategic Goals Business Interests Ethics & Regulations
48. User-centered
    …Not user lead
50. “GENERATION FACEBOOK IS TAKING ACTION - AGAINST FACEBOOK.” -TIME MAGAZINE “THERE HAS BEEN AN OVERWHELMINGLY NEGATIVE RESPONSE TO FACEBOOK’S LAUNCH OF TWO NEW PRODUCTS…” -TECHCRUNCH “FRANKLY, THE ONLY POSSIBLE OUTCOME IS THAT FACEBOOK WILL BE FORCED TO PROVIDE AN "OFF SWITCH" - THE MAJORITY OF USERS WILL THEN OPT OUT OF THE SYSTEM, MAKING IT FAR LESS USEFUL.” -PETE CASHMORE, MASHABLE
51. Selective innovation
    Be careful where you spend your time
52. There’s no need to reinvent the sign-in form... ! Or design a custom icon web font... ! Or construct your own analytics suite... ! Or build a home-brew customer support solution... ! Etc etc etc EVEN THOUGH YOUR DESIGNERS OR ENGINEERS MAY MAKE IT SOUND SEXY...
53. KEEP YOUR ENGINEERS AWAY FROM “HACKER NEWS ENGINEERING”
54. Avoid distractions
    ...like a plague
55. Heavy documentation is wasteful
    = distraction
56. Always keep one eye on competition, but stay focused on your own product Image credit:
57. DISTRACTION OR OPPORTUNITY? HINT: If it takes away focus from your core value proposition, it’s a distraction. Is it a...
58. If your product isn’t getting traction... Fail as fast as you can!
59. ADOPTION PRODUCT/MARKET FIT TIME TRACTION Discovery Stickiness Virality Revenue Scale ITERATE OR PIVOT Courtesy
60. ADOPTION PRODUCT/MARKET FIT TIME Discovery Stickiness Virality Revenue Scale PRODUCT DISCOVERY & CUSTOMER DEVELOPMENT SCALE, MARKETING, OPERATIONS BIZ DEV, ETC TRACTION Courtesy
61. If your product is getting traction... Focus on building the team that will build your company
62. Product Manager 1 Product Designers 2 Product Engineers 6 : : MAGIC RATIO FOR TEAM COMPOSITION Remember the FAST, GOOD, CHEAP? This is one way to create that rhythm.
63. WHEN HIRING...
    
    I DON’T LOOK FOR PROBLEM SOLVERS.
    I WANT PROBLEM SEEKERS.
    ! THINKING OUTSIDE THE BOX?
    I TRY TO FIND PEOPLE WHO ARE OKAY IF THERE IS NO BOX.
64. 1) Can they do what the job requires today? 2) Can they do what the job will require in 2 years? 3) Could they do the job better than I could? 4) Can I learn from this person? 5) Would it be a delight to work with this person? 5 QUESTION INTERVIEW RETROSPECTIVE
65. Have fun
    and stay curious!
66. QUESTIONS?
67. 1. Meet with your users
    2. Determine pain points
    3. Iterate If you remember nothing else...
68. THX! <3 @mattdanna Matt Danna @fullscreen Oh, and Fullscreen’s recruiting! fullscreen.net/careers