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Let me jump right in: With productanalytics, customer retention isn’t just something you measure after the fact; it should be something you can learn to predict (and then improve). I get it—data and analytics sound technical and scary, something only “really smart analytical people” should touch.
Running a successful product organization is hard. It’s no wonder there are many tools that try to resolve this. But tools alone won’t fix anything and can do the opposite. This mostly happens with products related to the product space itself — products for product managers and product teams.
There were many dozens of operation people at all levels who were responsible for a gazillion of back-office processes and tools that built and maintained eBay’s product catalog. But we need to do it consciously, or else we will surely overuse the tools, methods, and skills that we are used to using. So far so good.
Developing a content strategy for productmarketing requires an approach similar to product positioning. It’s about meeting your target customers in their comfort zone with insightful content that strikes an emotional chord. For example, don’t describe an obstacle as, “there’s no central data repository for medication.”
Applying data and science to scaling has become easier because of the shift that’s happened in the software industry over the past 15 years, from outside sales to inside sales. This has created large amounts of data for running teams. . A data-driven framework for scaling. I think that’s message-market fit.
Businesses invest heavily in productmarketing through webinars, blog posts, and video content for a reason – it gets them notable results. If you’re looking to start or improve your SaaS productmarketing strategy, this is the article to read. Both are vital for SaaS success.
We all want to be data-driven, but both data and our ability to work with it has its limitations. Since the annual report takes time to prepare and file and is typically filed in Q4 of the following year, I wouldn’t know the real amount of tax that I would have to pay until then. How much more? Yes, you got it right.
He mentioned the example of Waze predicting where you are going (home, work, etc.) If you are the developer who is supposed to write this feature, you would ask the product manager for very specific instructions as to when and how to predict where this person is going. most people?—?at at least before COVID?—?go they are Ph.D.’s
ProductOps is a specialized role that normalizes the product function across all products and services. When a company is small, the product manager (by whatever title) is responsible for activities across the entire product life cycle—from ideation to market delivery and sales support. product strategy.
When creating your roadmap, you need to consider what’s important to the company (not just to the product) and what is the best way to make progress across these multiple needs. Navigating all of it could be challenging, so here is a simple tool that will help you find your way. The search, though, wasn’t trivial.
Content marketing vs productmarketing? The goal of any marketing strategy is to attract and convert members of your target market into paying customers. But what is the difference between content and productmarketing ? The advantages of both marketing strategies. Definitely not!
HubSpot prides itself on its exceptional customer service. Book a demo to learn how Userpilot can help you differentiate your product through personalized experiences. Whereas its polls are tied to user guides , Userpilot allows the creation of surveys anywhere in your product. Let’s consider a few examples: 1.
As Head of Data Science, Digital Ventures at Viacom18 Media—a Mumbai-based joint venture between ViacomCBS and Network18 and one of India’s fastest-growing entertainment networks—Anubhav Shrivastava has led the company’s shift toward data-informed decision making. How do you keep data at the forefront?
If you truly have resourcing issues, it’s always worth talking with your manager to understand your team’s hiring plan as your insight will be helpful in putting together a job description for your next teammate. The most dangerous thing a company can do is make business decisions that reflect the needs or desires of a small data set.
OKRs are an amazing tool to drive business success. Doing it right is not necessarily so, and especially with product OKRs that are a unique beast. The path that many product organizations take is to convert their roadmap (which is usually a work plan and not a real outcome-based roadmap) into the OKRs format.
When planning the product managers’ goals, this challenge can translate into taking the wrong direction altogether. Here is a new way to look at product management goals, and make them a useful tool for both you and your team. My free e-book “ Speed-Up the Journey to Product-Market Fit ”?—?an
Fully applying a data-driven approach to your product is hard. You need to invest a lot in building the infrastructure that will allow you to measure everything you want, see it clearly in a dashboard, and take action based on it. the CPO of a startup that has a great product in the market asked me with a sigh.
Status reports, ETAs, metrics, roadmap, questions on functionality, and the list goes on and on. It can be heavy to handle, so I see many product leaders investing a lot of time in creating a unified repository of information: everything is in Trello/Monday/Jira/Name-your-favorite-tool. It’s in the documentation. Happy new year!
The course covers basics like assessing target opportunities, building software products, and how to launch a great product. The Product Leader Certificate requires a little more PM experience and demands competence in DevOps, dataanalytics, and hard technical skills. in the product process.
While I’m still looking for the perfect metric (and as I always say, data can’t tell you everything , so I might just rely on my gut feeling instead), here is a 4-step method to make sure that the metrics that you define for your own product are the right ones. My free e-book “ Speed-Up the Journey to Product-Market Fit ”?—?an
Here is a simple tool that will help you shine and help others along the way. thepaintedsquare from Unsplash As a board member at ProductX — the largest product conference in Israel — I met last week with a guest speaker to prepare his talk at the upcoming conference. That should be the trigger to stop and use the tool I suggest here.
Maybe you’ve just extended support hours and it’s becoming harder to plan shifts for different time zones; maybe you’re spending hours figuring out schedules for the week ahead; maybe the inflow prediction was a bit off and now your team is under or overstaffed. For Natasha, the answer is a resounding yes. And so, I started Surfboard.
Create a solution, maybe an eBook or a Notion Template. Your problem-solving product could be a game-changer for many! Here is how you can build your indie product: - Find a problem that’s getting attention. - Remember, the key is to keep iterating until you find the perfect market fit or start a new project. in revenue.
Creating a Solid Product Strategy One of the CEOs that I work with as part of my consulting services recently reflected with me on the process we went through for creating their new product strategy. we had our strategic, analytical discussions in the office, and we took the raw ideas we had there to practice?
I couldn’t address the general question since I don’t have data, but I did share my own story. As a consultant, I need to remind myself time and again that they hired me for what I had to say, and I would be doing them bad service if I don’t say it just because they wouldn’t accept it easily.
The Critical Role of Product Strategy When Money Is Scarce (Part 1 — Seed) A good product strategy is something every company needs. When VCs and customers aren’t throwing money at whatever you tell them, it becomes a critical tool. It was only when we created a solid product strategy, that things started to change.
By Tori Jeffcoat, Senior ProductMarketing Manager, Gainsight. Life used to be predictable. A good product experience is a simple product experience. Rely on data. Product experience starts and ends with facts, not speculation. Take TV, for example. Iterate early and often.
We covered the best blogs on SaaS growth, productmarketing , UX analytics, venture capital, and sales. The Userpilot blog provides well-researched, in-depth articles on user onboarding, product growth, product growth, user experience, and so much more. Ready to dive in? What is a SaaS blog?
In gathering as many viewpoints as you can, you will broaden your own perspective which is important to be able to lead the product in the right direction. It will also help you develop intuition , which has a bad name in a data-driven world but is actually a super important tool for you to use. Good luck in your new position!
There are numerous formulae for calculating LTV, but the best one is to add up the revenue per customer and subtract the costs of acquiring and servicing them. LTV is an important metric for SaaS because of how much retention correlates with SaaS profitability, and because LTV is such a useful predictivetool for future financial decisions.
Once you have clearly articulated what your concern is, look for data that will support your claim. Level 2: Suggesting Alternatives and Solutions If you stop at level 1 above, you are already doing great service to your company, but it might put you in a problematic position. soon enough or at all, and how big the risk is.
In order to accomplish this though, you have to level up your customer data platform like Hubspot. Using HubSpot integrations enriches the data and information you have about your customers, and can help you grow your SaaS business massively. You can connect them all to HubSpot, which pulls the data into a centralized system.
In my first role outside of R&D, the one which eventually led me to product management, I reported to the Director of Solutions of the company, a guy called Raviv. Everyone knows we should be data-driven. Product leadership starts with the ability to really, deeply understand people?—?customers
For example, if you are looking at business results or product performance, there are many KPIs that you can track regularly. It’s a mistake I see many people make in an attempt to become data-driven. Second, you want to collect a benchmark when things are working well in order to know when things are going the wrong way.
Do you keep hearing about Net Promoter Score (NPS) being a great tool for improving customer satisfaction, boosting customer lifetime value, and generating more revenue? Predict business growth. Passives can be converted into promoters, provided you put in the effort to improve your product or the overall customer experience.
We’ll also go over how to improve essential SaaS sales metrics like customer acquisition cost, annual recurring revenue, average purchase value, and expansion MRR so you can make the most out of your SaaS product. SaaS sales can be broken down into three models: self-service, transactional, and enterprise. The self-service model.
Collaborate cross-functionally with Sales, Product, Marketing, and other teams to align customer success objectives with overall company goals. Identify pain points and drive data-backed decision-making by analyzing customer data. Use these insights to improve processes and help the business achieve its strategic goals.
TL;DR Email marketing can be used to acquire new customers , retain existing customers, increase conversion rates, and continuously nurture customer relationships until they become advocates for your brand. It pays to collect data after a user signs up for your mailing list.
There is usually much to say about the category itself, and these insights are typically more important strategically than one competitor or another. One insight that I find with almost every company I work with, is that specific customer profiles choose specific types of competitors. This analysis sometimes leads to deeper insights.
Product professionals get paid to manage products and services. But this single-minded focus on helping others often leads to a lack of focus on ourselves and our career impact in the product field. And, unlike our products, no one’s getting paid to manage our careers on our behalf. Which verbs do they use?
Creating a new product category also creates a plethora of challenges – from spotting the right market niche to convincing customers that yours is a service they need. If people aren’t looking for your solution, you have to educate them about the problem your product solves. But what does it mean?
As a product leader, first, you have to ask yourself this question. Look at the data you have, but then, as with anything else in product, remember that data only tells part of the story. Do you feel your customers perceive the value as you intended? How do you know that? Stay tuned.
Other examples include spreadsheets which are a simpler solution to almost any organizational software (CRM, marketing management, accounting, and even knowledge management in some cases), and usually would be the first choice of any organization before they consider a dedicated product. Make yourself an expert in this area as well.
Though the past two years were some of the most challenging times for businesses, it did not stop one of the most difficult seasons from producing hypergrowth for product-led companies. We compiled our best Product Experience resources from last year, from blogs, ebooks, and webinars. Finding Product-Market Fit.
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