CRO PROS - Optimisation Insights | Journey and Lessons on building a product
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1. The speaker will discuss their background in building products, observations about optimisations across different industries, and their journey and lessons in customer discovery and frameworks for product decisions. 2. Their company aimed to build a solution for marketers to make sense of changes on the internet beyond their own data, validated through 40 customer interviews. 3. Their early customer discovery process revealed mistakes in pitching their idea instead of understanding problems, and they learned to focus on the problem not a solution.
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CRO PROS - Optimisation Insights | Journey and Lessons on building a product
- 1. Optimisation Insights Our Journey and Lessons on building a product. Kiran Kumar Co-Founder
- 2. Today i’ll talk about 3 things 1. Our Background and why we quit our jobs to build a product. 2. Observations of optimisations across Politics, Streaming, News Media and FS. 3. We share our journey and lessons on Customer Discovery and 2 Frameworks we use to make product decisions.
- 3. Background Ex Tech Corporate Guys - Built several products in both B2C and B2B. Insight: Key Insights / Observations on the Market Hypothesis: In today’s competitive environment marketers needed a solution make sense of all the changes happening on the internet beyond their own data. Validation Goal: 40 Customer Interviews / 80% Hit Rate Success Goal: Build Something People WANT!
- 4. Attention Economy (8 Second Era) Marketers expected to close the sale Agile + Lean Startup Movement (experiments) Experiments (build/measure/learn) Key Insights we had.. Move to Cloud
- 5. When everyone start doing it… SEO SEM SOCIAL CRO ?
- 7. Solution: Capture the worlds best optimisations Competitor Monitoring Insights for Brand Marketers Prospecting for Agencies Industry Benchmarking
- 8. US + Aus Elections
- 14. Streaming Media + News Media Pricing Tests
- 15. A B
- 16. Reassurance
- 19. A B
- 20. A B
- 21. A B
- 22. A B
- 25. Finance Tech
- 27. A B
- 32. AB Testing Tools Breakdown in Australia No Tags 56% Adobe Target 15% VWO 9% Optimizley 21% *Based on 600 sites
- 33. *Based on 2000 sites Global - AB Testing Tools Breakdown No Tags 65% Adobe Target 11% VWO 4% Optimizley 20%
- 34. Global Active Experiments Target VWO Optimizely 0 125 250 375 500 Active/Enabled Experiments Installations *Based on 2000 sites Opportunity
- 36. Our Journey Idea Customer Discovery Much harder than we thought and we were really sh!t at the beginning LearnTechniques Recording Conversations Jobs 2 Be Done Concierge MVP = PPT Doing things that don’t scale Scrappy MVP 1.0 Slightly Better MVP Alpha Nov 2014 March 2015 April 2015
- 37. Our Journey Closed Beta Feedback Cycle Angel Funding Funding Press Beta 2.0 :) Quantitive Signups These users challenge your earlier assumptions April to June 2015 July 2015 Sept 2015 Oct 2015 We quit our jobs!
- 38. Our Journey Startmate Program Customer Creation Transition to a Sales/Marketing Org Hustling in the USA Now! Jan to March 2016 April - June 2016
- 40. Early Days
- 42. Customer Discovery Interview 40 Interviews LinkedIn 50% connections 50% people we had no connection Recorded Conversations Face to Face
- 43. Interview Mistakes 1st Mistake Everyone wants to know your idea. Do not talk about your idea. Do not pitch. 2nd Mistake Do not ask about the future.
- 44. Interview Questions 1. What’s the hardest part about [problem context] ? 2. Can you tell me about the last time you did this activity? 3. Why was that hard? 4. What have you done to solve that problem? 5. What don’t you love about the solutions you’ve tried? *CustomerDev Labs
- 45. What we learnt… Take the emotion away from our idea & dig deep into the problem. Stories are better than statements If there aren't looking for a solution, the problem isn’t big enough
- 46. 50% of your solution Make their life easier! (save time, make more money) the other 50% Make them look good!
- 47. Today
- 48. How do we know what to work on? Today, we make all our decisions using 2 frameworks: • Dave Mcclure AARRR (Pirate Metrics) and OMTM (Focus) • Customer Success 1 2
- 53. OMTM (one metric that matters!) This is our focus this week! Solution
- 55. Product Fix can take time Success Gap Success Gap: Invoke Chat to fill gap. Social Proof/Trust
- 56. LESSONS LEARNT • Focus on One Key Metric at any given time and communicate that with everyone. • Users don’t always know what they want. Ask for Faster Horses. Don’t ask users for a solution (but most are able to explain their problem really well) • Great products build value over time (eg Evernote, Dropbox, Google Analytics) • Invest in Customer Success early
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