magic startup academy launch : day 2 - mobile product management at a global scale ( part 2 ) ( noah...
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Mobile Product Management
Product design with a global perspective
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Noah Lucas
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Mentor Thiel Foundation
ConsultantEarly stage start-ups
Mobile Product ManagerExpedia Global
4@noah_lucas
Expedia Hotels & Flights
70mm Shoppers40mm Downloads
Takeaways• How to manage a consumer internet product
• Get your idea to market
• Importance of design
• Create a robust product
But first…
5@noah_lucas
What PM Is NotReactionary: firefighter, last minute features
Micromanage overly focused on “how”, not “what”
Passive: lack vision, indecisive prioritization
Dictator: improperly authoritative
Distracted: poor communication of big picture
Confused unable to deconstruct issues
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What PM IsDeep: knowledge of market, capabilities, competition
Executes: anticipate, prepare, ship
Precise: clear dictation of direction & goals
Influencer instead of dictator
Understands: defines goals and success metrics
Trusts the team to make decisions
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A Good Product MangerDeeply understands every aspect of the product.
Balances all internal and external influences.
Sets a clear prioritized strategy.
Crisply communicates the plan to each group.
Most of all, ships.
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Good PM/Bad PMBen Horowitz
“Good product managers know the market, the product, the product line and the competition extremely well and operate from a strong basis of knowledge and confidence. A good product manager is the CEO of the product.
cont…
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Org Structure
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Design Management Development
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Tools
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Primary Devices iPhone 6, Macbook Air 11”
Task manager Workflowy
Email Sparrow, Apple Mail
Notebook Moleskine
Analytics Adobe, AD-X, iTunes Connect, App Annie
Design Sketch, Photoshop, iPhoto
File management Dropbox
Development Github
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Communication
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Leadership
Development
Product Management
Design
Quality
Marketing
Legal
International
Customer
User Happiness
Customers
Translation
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Product Design
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Designing a good mobile app is about…
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Product Design
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User Experience
Information
Interaction
Interface
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Types of PM
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Size Matters
Startups: Launch - Growth - Scale
Corporate
Consultant/Advisor
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Product Fundamentals
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Create a useful productResearch, plan, design, build, iterate for product-market fit
Create a smart productIdentify success metrics and enforce disciplined analysis
Create a successful productDefine the “4 loops”
Create a profitable productIdentify & test potential strategies
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Create A Useful Product
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Identify an unmet need (a mismatch) and create something to fill that gap.
Market Research Plan Design Prototype Build Test & Learn
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Research
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Watch new companies
Follow emergent technologies
Understand trends
Listen to the consumer: wants, needs, frustrations
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Plan
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Identify the opportunity (the matching problem)
Define your thesis
Set the vision
Build a roadmap
Choose your MVP
Scope out the sprint(s)
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Design
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"Design is a funny word. Some people think design means how it looks. But of course, if you dig deeper, it's really
how it works.”Steve Jobs
Design
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What if you could …
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Design
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Accomplish the desired outcome, gracefully
Personal experience Market Research User testing Social anecdotes Dreams
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Build
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Define technical requirements Identify country-specific requirements Get translations Set UX, Navigation, Interaction, and Interface Isolate design elements API and backend Get client dev feedback for API and design teams Begin client dev work Continuous quality control Begin defect fixes immediately
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Yesterday
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TopicsGood PM/Bad PM
Tools of a PM
Org Structure & Teams
Importance of Communication
Product Fundamentals: Create A Useful Product
Product Fundamentals: Test & Learn
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Day 2
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TopicsProduct Fundamentals
Common Product “Loops”
Pros/Cons of Mobile First Strategy
Phases Of The Internet
User Patterns In Mobile
Megatrends
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Build A Useful Product
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"Truly successful apps offer a clear solution to a problem their users face” - DeBow
Observe a pattern Develop your theory Build the hypothesis Measure in groups Learn through data
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Product Fundamentals
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Create a useful productResearch, plan, design, build, iterate for product-market fit
Create a smart productIdentify success metrics and enforce disciplined analysis
Create a successful productDefine the “4 loops”
Create a profitable productIdentify & test potential strategies
@noah_lucas
Build A Useful Product
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"Truly successful apps offer a clear solution to a problem their users face” - DeBow
Observe a pattern Develop your theory Build the hypothesis Measure in groups Learn through data
@noah_lucas
Create A Smart Product
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Analytics
KPIs: Key Performance Indicators Only as intricate as you want Only as useful if diligent Test & Learn to validate hypotheses and optimize
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Create A Smart Product
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KPI examplesUsage
Lifetime Value (LTV)
Retention Rate
Active Users Average Revenue Per User
User Happiness
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KPIs of Expedia• Install
• Launch
• Hotel + Flight Search
• Book & Conversion Funnel
• Itineraries
• Engagement
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Create A Smart Product
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Dave McClure’s “Startup Metrics for Pirates” Acquisition Activation Retention Referral Revenue
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Create A Profitable Product
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Paid app gamingIn-app purchases gamingFreemium pro toolsReferral niche networksAd-based utilityNative advertising socialSubscription pro toolsAffiliate, last-click shoppingDynamic Pricing logistics marketplaces
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Create A Successful Product
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4 Common Product Loops Data Social Compulsion Viral
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Data Loop
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Usage builds structured data.
Search
Engage
Add Data
Enhance
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Data Loop
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App improves with usage
Foursquare - venues (and now tastes) Instagram - photos Facebook - posts Twitter - updates, hashtags Waze - crashes, construction Google - relevant search results
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Data Loop - logistics
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p2p, marketplaces
Search
Engage
Add Data
Enhance
Sign Up
Availability
Accept bid
Engage
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Data Loop - logistics
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Delivery marketplaces Uber Lyft Airbnb Postmates Tastkrabbit Fancyhands Rinse
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Social Loop
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Enable & encourage user interactionsDiscover
Engage
Interact
Share
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Social Loop
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Users crave interaction, empower them!
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Primary interactions Micro-interactions Sharing Commenting Tagging Reposting
Create a habit-forming product to build loyalty.
Dopamine = anticipation of reward Endorphin = achievement of a reward
Inconsistency increases anticipation
Compulsion Loop
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Compulsion Loop
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Trigger
Action
Variable
Reward
Invested
Commitment
Dopamine!!!
Endorphins!Dopamine!!!
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The Trigger
Push Notification Email In-app messaging Local Notification iBeacon Geofencing
Compulsion Loop
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Instagram Zynga games Facebook Twitter Pinterest Candy Crush
Compulsion Loop
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Viral Loop
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Enable and encourage organic growth so K > 1Discover
Engage
Interact
Share
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Viral Loop
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Enable and encourage organic growth so K > 1
Define you consumable content Interactive and social functionality Make user want to share (the hook) Fast, simple on boarding (acquisition funnel)
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Mobile First?
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Pros and Cons of a mobile-first strategy
Push
Location
Performance
OS integration
Cost
Approval process
Speed to launch
Cohort testing ease
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Phases of the Internet
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Phase 1: Infrastructure
Phase 2: Application All-in-one Portals
Social Networking
Niche Specialty networks
Multi-use Apps
Single Use Apps
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Patterns In Mobile
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Single Purpose app
Social component
Fast content creation
Consumable content
Primary Interaction
Micro-interaction
Asynchronous and synchronous
Asymmetric follow model
Critical mass (Users before money)
Global appeal
Fast loading
Defined Constraints
Unique in some way
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“Megatrends”
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Social
Cloud
Mobile
Global
Logistics
P2P/Sharing Economy
What’s Happened
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“Megatrends”
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Social
Cloud
Mobile
Global
Logistics
P2P/Sharing Economy
Cross-Device
Internet of Things
Bitcoin/crypto
Wearables
Discovery: pull to push
Search: pull to push
What’s Happened What’s Coming
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References & Materialhttp://web.stanford.edu/class/e140/e140a/handouts/ProductMgmt.txt
http://www.svproduct.com/product-organizational-structure/
http://www.khoslaventures.com/wp-content/uploads/Good_Product_Manager_Bad_Product_Manager_KV.pdf
http://www.quora.com/What-are-the-characteristics-of-a-bad-product-manager
http://www.slideshare.net/dampy/good-product-manager-bad-product-manager-kv
http://www.quora.com/What-distinguishes-the-Top-1-of-Product-Managers-from-the-Top-10
http://www.amazon.com/Technological-Revolutions-Financial-Capital-Dynamics/dp/1840649224
http://youtu.be/irjgfW0BIrw
http://youtu.be/5bJi7k-y1Lo
http://theleanstartup.com/principles
http://andrewchen.co/2007/07/11/whats-your-viral-loop-understanding-the-engine-of-adoption/
http://mashable.com/2013/09/04/mobile-app-metrics/
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