Andriy Korol "What is the next great feature you have to implement? Kano model and Unit economy rules for decision making"
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Kyiv PMDay 2019 Spring Stream: Product
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Andriy Korol "What is the next great feature you have to implement? Kano model and Unit economy rules for decision making"
- 1. What is the next great feature you need to implement? Kano model and Unit economy rules for decision making.
- 2. • Product Manager @ EduNav (leader in Ed Tech USA) • Ex-CTO @ Cardiolyse (Best Ukrainian Startup’2016) • 20+ successful projects – manufacturing, logistic, IT, healthcare, energy. • Co-founder in two companies – in logistic and project management • Author of product management course - ProductMan. Andrei Karol
- 3. Students graduate. And sooner. Institutions improve KPI’s and optimize course offerings. Real-time navigation to graduation Re-plan Re-plan
- 4. The problem: student completion Source: OECD $37,172 average amount of student loan debt upon graduation * First time, full-time undergraduate students 2-YEAR ASSOCIATE 5% graduate in two years* 4-YEAR BACHELOR’S 20% graduate in four years* Building the optimal educational plan: Billions of possibilities Unique student profile (goal, academic history, changes, past mistakes, failures) 1000s of courses 10,000s of sections 1 counselor per 400 students
- 5. The problem: high “fixed costs” with significant inefficiencies PERCENTAGE OF OPERATING BUDGET SPENT ON ACADEMIC RESOURCES 37% $23.7B estimated annual impact if average course fill rate increased to 70% Estimated annual savings with 70% average course fill rate AVERAGE COURSE FILL RATE 62%
- 8. EduNavEduNavEduNav SmartPlan Optimal plans Analytics Forecasts Degree Audit Data Requirements Exceptions SIS Data Academic History (Transcripts) Declared goals Class Schedules (Seat availability) Pre/co-requisites Permits Holds, and more… Advisor Knowledge Rules Recommendations Student personal circumstances Goals (major, minor, xfr) Schedule constraints Target Credits (part-time) Personal preferences Why it’s difficult?
- 11. Kano model principals • Value attracts customers • Quality keeps customers and builds loyalty • Innovation is necessary to differentiate and compete in the market
- 14. Basic Expectations Can’t get up above neutral satisfaction Investment UserSatisfaction Frustration Delight
- 15. Basic Expectations • Kano Model focuses on users’ basic expectations first: features that constitute the baseline and that every product in the genre has. • From a customer’s perspective, threshold features are either present or not.
- 19. Basic Expectations. Take away. • Be on the lockout for failed and missed expectations. • Missing a basic expectation causes extreme frustration. • Lots of missed expectations opens door for competitors.
- 20. Performance Features More - better Investment UserSatisfaction Frustration Delight
- 21. Performance Features • Carefully evaluated by the customer and taken into consideration when making a purchase. • Increase your customer’s satisfaction if you implement them better.
- 22. Release 1.0 Feature Feature Feature
- 23. Release 1.5 Feature Feature Feature Feature Feature
- 24. Release 2.0 Feature Feature Feature Feature Feature Feature Feature Feature Feature
- 25. Release 3.0 Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature
- 26. Release 4.0 Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature
- 27. Experience Rot Features Complexity User Experience
- 28. Release 5.0 Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature
- 29. Release 5.0 Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Feature Competitor Feature Feature Feature Feature Feature
- 30. Performance Features. Take away. • Carefully curate features to match the experience vision. • Prune out experience rot with each release. • Just because you can doesn’t mean you should.
- 31. Excitement Features • Users do not anticipate them. • Delight is over-delivering and performing the unordinary. • Surprising customers with a delight attribute may cause their over-excitement with the product!
- 33. Excitement Features What once was “the next best thing” becomes basic, expected and needed.
- 34. Excitement Features Plesure Flow Meaning Investment UserSatisfaction Frustration Delight
- 42. Student’s feedback on EduNav Why didn’t we have access to this before?!
- 43. Excitement Features. Take away. • Pleasure is least expensive. • Flow. Keep it simple stupid. • Meaning is hardest to do well. “Innovation is not adding new inventions, innovation is adding new value”
- 45. Indifferent Features • Indifferent features don’t evoke any feelings in the customers regardless for their presence or absence • We can make the right features answering the right problem yet make them too complicated for users to understand.
- 47. Reverse Features Absence of a feature brings satisfaction, and the presence leads to resentment L
- 48. Applying the Model Kano Questionnaire based on asking two pairs of questions: Functional: “How do users feel if they have the feature?” Dysfunctional: “How do users feel if they didn’t have the feature?”
- 49. •I like it •I expect it •I’m neutral •I can tolerate it •I dislike it
- 50. Kano Model Mapping User expectations How do you feel if you DON’T HAVE the feature? I like it I expect it I’m neutral I can tolerate it I dislike it How do you feel if you HAVE the feature? I like it ??? Excitement Excitement Excitement Performance I expect it Reverse Indifferent Indifferent Indifferent Basic I’m neutral Reverse Indifferent Indifferent Indifferent Basic I can tolerate it Reverse Indifferent Indifferent Indifferent Basic I dislike it Reverse Reverse Reverse Reverse ???
- 51. Decision making 1. Reverse features – Definitely don’t do. 2. Indifferent features – Don’t do or educate users. 3. Basic Expectations – Must be! 4. Performance and Excitement features - Does the feature decrease Customer Acquisition Cost? - Does the feature increase Life Time Value?
- 52. Andrei Karol Product Manager, EduNav andrei.karol@gmail.com FB: andrei.karol.7