Frameworks Flashcards
Saas Customer lifecycle
Acquire
1) Awareness
2) Consideration
3) Qualification
Engage
4) Evaluation
5) Purchase
6) Activation
Retain
7) Expansion
8) Renewal
9) Referral
Design an application
Comprehend the Situation Clarifying questions: 1. What is it? 2. Who is it for? 3. Why do they need it? 4. When is it available? 5. How does it work?
Identify the Customer Choose personae, pick 1 and answer · Behaviors · Demographics · Needs & Goals
Report the Customer’s Needs
As a , I want so that .
Cut, Through Prioritization
· Revenue impact of the story
· Size of the story in points
· Revenue in points
List Solutions
· Why? Method. Challenge the status quo.
· Attribute method. List all the product attributes. Mix and match to get interesting new combinations.
· Reversal method. Reversing the situation helps uncover new possibilities.
Tip #1: Think big
Tip #2: Have at least three ideas
Evaluate Trade-offs
Criteria could include customer satisfaction, implementation difficulty, and revenue potential.
Summarize Your Recommendation
- Tell the interviewer which product or feature you’d recommend.
- Recap on what it is and why it’s beneficial to the user and/or company.
- Explain why you preferred this solution vs. others
DIGS
Dramatize
Explain the outcome
List solutions
Summarize
Product lifecycle
Introduction
Growth
Maturity
Decline
https://cdn.productplan.com/wp-content/uploads/2019/03/product-lifecycle-product-management-1024x687.png
Design criteria
Innovative
Makes a product useful
Understandable
Honest
Approach any product design critique by:
- Revealing your design criteria. Cap it to three principles.
- Explaining how the product may or may not meet your criteria.
- Being specific, offering evidence, and contrasting with similar products.
Porter 5 forces
1- Threat of new entrant 2- Determinants of supplier power 3- Determinants of buyer power 4- Threat of subsitute products 5- Rivalry among existing firms
Product vision
1- Solve a problem
2- Be unique and memorable
3- Describe how it will be solved
5 Why’s
Determine the issue at core of problemes - ask 5 precision questions to get at the core.
SWOT
Strength
Weakness
Opportunities
Threat
What makes a product successful?
Does the product offer unique features not available on competitive products?
Does the product meet customer needs better than competitive products?
Does the product have a higher relative product quality?
Does the product solve a problem the customer had with a competitive product?
Does the product reduce the customer’s total costs (creating value)?
Is the product the first of its kind in the market?
Metrics
Customer Success and Product Engagement Metrics
Product usage/adoption (sign-in frequency, sharing, etc.) Percent of users who take a specific action that matters Feature usage (usage vs. other features) Which customer type is using certain features Retention or churn rate Quality (e.g. average bugs, net promoter score)
Business-Oriented Metrics
Customer Acquisition Cost (CAC)
Lifetime Value (LTV)
Monthly Recurring Revenue (MRR)
Annual Recurring Revenue (ARR)
Average Revenue per User (ARU)
Conversion (e.g. site visit to lead conversion)
Product manager role
Technology/Business tensions:
CEO wants to build a product in a time frame that the engineering lead says is infeasible. Engineering lead wants to invest in a large refactor while the CEO only one wants to build new features.
Business/User tensions:
Sales team wants a feature that the design lead says will destroy the user experience. Marketing team is targeting a constituency of users that are not converting to purchase.
User/technology tensions:
Design lead wants to perfect the user experience in a manner that the engineering lead says isn't worth the effort. An engineer builds a new feature in a manner that better reflects the database structure than users' mental models.
