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Benefits of a product strategy framework include better alignment between product development and business goals and improved user satisfaction. Conduct marketresearch and analysis to understand the current state of products in your industry. Analyze in-app user satisfaction using tools like NPS and CSAT surveys.
Over the past year at LinkedIn I developed a strong appreciation for using Net Promoter Score (NPS) as a key performance indicator (KPI) to understand customer loyalty. Net Promoter Score (NPS) is a measure of your customer's loyalty, devised by Fred Reichheld at Bain & Company in 2003. The Origin of NPS. How NPS is Calculated.
During the pre-launch stage you need to conduct marketresearch, define your UPS (Unique Selling Proposition), identify your target audience, and define user persona. The launch phase revolves around building and implementing your go-to-market (GTM) strategy. The post-launch phase is all about user onboarding.
Use ChatGPT to understand the motivations, goals, and frustrations of your users. Create detailed user personas and craft targeted stories for these personas. Task it with analyzing customer feedback, customer data, and more, to identify trends and patterns. ChatGPT performs marketresearch.
How can you use them for better customer engagement ? TL;DR Segmentation is a process of grouping customers by shared characteristics. A segmentation survey is used to gather the data necessary to segment customers. It also helps teams better understand their existing and prospective customer base. Let’s dive in!
It’s easy to spot patterns mixing cohort charts and user attributes and events but you never get to the why. Therefore, it’s hard to connect the dots , by basing all product growth on analytics, you never get the full user story. Why do they use the product, what’s the painpoint, what do they need next?
No matter the industry, product experimentation should always be done with your customers top of mind. In terms of our core product, this might mean adding capabilities that make it easy for users to transfer funds from one account to another. This could be anything from a feature, to a customer request, or a business requirement.
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