Essential Product Planning Techniques for Oxford University Press
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Workshop for Technology Product Management Team at Oxford University Press English Language Teaching division, providing the team with new techniques and approaches to plan more successful product solutions.
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Essential Product Planning Techniques for Oxford University Press
- 2. 1 3 Context Process & Tools 2 Principles
- 3. 1Context
- 5. # We can no longer peddle a product # We need to keep up with rapid change # Planning isn’t an annual endeavour
- 7. The Labour theory of value @willsh smithery.co The value of something is determined by the labour that went into its production
- 8. Modern Economics @willsh smithery.co The value of a thing is determined by what one is willing to give up to obtain the thing
- 9. @willsh smithery.co £0.99 Per Pad £3.33 Per Pad Deliver superior value
- 10. Context #2 Speed & Agility
- 11. The world is moving faster # Customer needs are evolving # Technology has changed everything # New competitors emerge every day
- 12. Need tools for responding quicker and with less risk V
- 13. Context #3 Your job is never ‘done’
- 14. “Everybody has a plan until they get punched in the face.” Mike Tyson
- 15. Products evolve following each customer contact The journey needs to adapt vision to deliver the
- 16. Product Planning is a continuous endeavour, NOT an annual exercise
- 17. So how does product planning help?
- 18. # Favours data over opinion # Learning through experiments # Maintains a single version of the truth # Tells simple stories - influence change
- 19. Use data rather than opinion to define what a customer wants
- 20. Avoid the HIPPO* *Highest Paid Person’s Opinion
- 21. Use data to avoid poor judgement
- 22. propinquity n. [proh-ping-kwi-tee] believing we are like our customers @davewascha
- 23. “Get out of the building” ‘Experiment’ with real customers to learn Steve Blank, Guide to Customer Development
- 24. Maintain a single version of the truth
- 25. Make that truth accessible
- 26. Make the plan simple to understand, and act upon
- 27. “Planning is what you do before you do something,so that when you do it,it is not all mixed up” A. A. Milne
- 28. 2Principles
- 31. customer
- 32. customer
- 33. Traditionally start with ideas @strategyn Ideas Markets Needs Strategy 5% succeed
- 34. Should be a needs first process* @strategyn IdeasMarkets Needs Strategy 86% succeed *”Outcome Driven Innovation”
- 35. ‘Jobs To Be Done' Concept @strategyn
- 36. Job To Be Done: Listen to Music @strategyn
- 37. Market @strategyn = Job Executors + Willingness to pay to get the job done X
- 38. Get a job done better @strategyn 20011948 1962 1984 2005 satisfy additional job criteria e.g. take more music with me e.g. skip tracks quickly
- 39. High Importance + Low Satisfaction = Opportunity CompetitiveOpportunity Limited return High Low @strategyn Low High ImportanceofUserNeed Satisfaction with Current alternatives
- 40. Kano Model: Needs & Satisfaction Satisfier (more is better) Delighter Must Have Dissatisfied Satisfied Need Unmet Need fully Met M ove overtim e
- 41. But, what is the benefit to the business …
- 43. business
- 44. business
- 45. Define your business model on 1 page @strategyzer
- 46. Overview of the Canvas @strategyzer
- 47. Do you have one for your product?? @strategyzer
- 48. Pirate Metrics - measure success and direct decisions @davemcclure Aarrr! Acquisition Activation Retention Referral Revenue
- 49. @davemcclure Acquisition Activation Retention Referral Revenue Visit Site Doesn’t abandon Happy 1st Visit Sign up Clickthrough from email Repeat visit Refer 1+ user who visit site Refer 1+ user who activates User generates revenue Don’t measure it unless you’re going to action it
- 52. competitors
- 53. competitors
- 54. Strategy canvas - plot competitor features to identify opportunity @BlueOceanStrtgy
- 55. Simples. Right?
- 56. Become a master of these Theories - they will help you!
- 57. Process & Tools3
- 58. Start with a good question Hypothesise Gather Insights Structure Thinking Tell the story & share 5 steps of product planning
- 59. Start with a good question Directs the journey. Get it right.
- 60. Start with a good question “Investigate Interoperable Content”
- 61. Start with a good question “Investigate Interoperable Content” too vague
- 62. Start with a good question “Provide a strategic recommendation regarding the direction and market stance that OUP should take on the subject of interoperable content usage in the global education market.”
- 63. Start with a good question “Provide a strategic recommendation regarding the direction and market stance that OUP should take on the subject of interoperable content usage in the global education market.” Output clarity contents topic market context better
- 64. Hypothesise Set a vision. Where do you think you should get to?
- 65. Hypothesise 1. Where we are (data) 2. What we know (data) 3. What we need to know (to validate) 4. Where we’re trying to get to (vision)
- 66. Hypothesise • Output 1 slide • 10 concise bullets • 1st draft to get going Think of the end, from the start
- 67. Gather Insights Go hunting. Gather data. Analyse & Interpret.
- 68. Gather Insights Insight = actionable,data-driven understanding that creates business value
- 69. Gather Insights Customer Market Competitor (Alternatives) Business Pots of data and insight
- 70. Gather Insights # Open questions with customers # Surveys can help too # Data from experience not opinion # Don’t jump to first conclusion Childlike inquisitiveness
- 71. Capture visually. Ready for sharing. Structure Thinking
- 72. Index cards (flat) NOT Post its (curl) Structure Thinking Paper first - allows movement (Trello could work too)
- 73. # headings make perfect summaries # make it easier to re-visit & re-order # do the hard work for your readers Structure Thinking Slides force concise thinking
- 74. # Insights and data together # Make it accessible Structure Thinking Build a single version of the truth What you’re doing, where you’re going, what you’ve learned
- 75. Engage your audience. Simplicity. Impact. Credible. Tell the story & share
- 76. Once upon a time there was …… Every day ….. Because of that ….. Finally ….. Tell the story & share Story telling structure
- 77. Tell the story & share Your job as storyteller is to do the work to help your audience engage and consume your key points - get your outcome Visual storytelling SlideDocs @Duarte
- 78. One last time.
- 79. Start with a good question Hypothesise Gather Insights Structure Thinking Tell the story & share 5 steps of product planning
- 80. Now your turn …
- 82. Plenty by Seth Godin (Purple Cow,Tribe,The Dip) http://amzn.to/1H4V539 The Innovators Dilemma, Clayton Christensen. http://amzn.to/1H4ViTT If you're a product manager today, you should have read these - or be ashamed of yourself ..... Lean Startup Eric Ries http://amzn.to/1H4SLsV Startup Owners Manual Steve Blank http://amzn.to/1H4T2vY Made to Stick Chip & Dan Heath http://amzn.to/1H4Tomu Rework Jason Fried http://amzn.to/1H4Tyu1 4 Hour Work Week Tim Ferris http://amzn.to/1H4TKJI Personal MBA Josh Kaufman http://amzn.to/1H4TSJh What customers want Tony Ulwick http://amzn.to/1H4Uajo Blue Ocean Strategy W Chan Kim http://amzn.to/1H4UkHv Checklist Manifesto Atal Gawande http://amzn.to/1H4Uw9q Bus. Model Gen. A. Osterwalder http://amzn.to/1H4USwS Delivering Happiness Tony Hsieh http://amzn.to/1H4VAu5 Hooked Nir Eyal http://amzn.to/1H4VXou Plus
- 83. • Board of Innovation - Innovation tools and case studies • Dan Olsen - Product Management Training • Willsh - ‘Making things people want’ • Rob Fitzpatrick - ‘The Mom Test’ (how to do customer development - 'Learn & Validate’) • Stefan Lindegaard - open innovation and innovation frameworks • Telling Stories with Slides - some examples (SlideDocs) • Intuit - Lean Startup in Corporate environment • Happy Startup School - Innovation and startup guidance • Dave McClure - Pirate Metrics • Netflix Culture / hubspot culture • Lean Startup Machine - useful ‘experimentation board’ and for structuring learning • Simon Sinek - Start with Why • Production / Mind The Product • Trendwatching • Springwise • Business Insider • TechCrunch • Angel List • Econsultancy @Newsletters & Websites • unsplash.com