Mind the Product Engage Manchester

@nilanp
Growing fast…
…growing people

@nilanp
1. Growth at TransferWise
2. 5 steps to replicate this in your
organisation

TransferWise was started
to solve a problem
@nilanp@nilanp

What is TransferWise
What is borderless

@nilanp @cataflu
Moving more than
£3 Billion per month

@nilanp @cataflu
Saving our customer more
than £3m per day
30 price drops in the last 9
months

@nilanp @cataflu
Over 4m customers worldwide

@nilanp @cataflu
Over 2m debit card
transactions + over £2bn in
deposits

@nilanp @cataflu
> 1,400 people

@nilanp @cataflu
Profitable for 2 years

@nilanp @cataflu
Evangelism is the biggest
driver of growth

Why do people recommend our
product ?

@nilanp
Would you recommend us to
your friends?
1 2 3 4 5 6 7 8 9 10
Detractors Neutral Promoters

@nilanp
Would you recommend us to
your friends?
1 2 3 4 5 6 7 8 9 10
Detractors Neutral Promoters
Total
Promoters - Detractors
= NPS

@nilanp
If promoters >
detractors you WILL
grow

It works !
(But barely)
It works with
no significant
issues !

It works !
(But barely)
It works with
no significant
issues !
It works. Wow
that was slick

It works !
(But barely)
It works with
no significant
issues !
It works. Wow
that was slick
You’ve just blown
my socks off that
was incredible

RATIONal
Speed
Price
Convenience
Coverage
Mission

To achieve advocacy your product
needs to be an order of magnitude
better than the alternative

But don’t do this as “growth hack” do
it because its the right thing to do

Step 1 - Find your mission
Step 2 - Let your customers lead you
Step 3 - Build conviction
Step 4 - Product growth=People Growth
Step 5 - Scale
@nilanp @cataflu

Money without borders.
Instant, convenient, transparent
and eventually free
We’re powering money for people and businesses:
to pay, to get paid, to spend, in any currency,
wherever you are, whatever you’re doing

We are
a Mission Driven
Startup
@nilanp @cataflu

A mission driven
organisation is…
…is a catalyst for
achieving a change
In the world
@nilanp @cataflu

Find your mission
@nilanp @cataflu

It starts by being
customer led
@nilanp @cataflu

RATIONal
Make
customers
happy
Make
money

RATIONal
Make customers
happy
sustainably

But how do you explain this to
shareholders ?
@nilanp

@nilanp
Customer led
Growth
Create a huge
amount of value

@nilanp
Customer led
Growth
Create a huge
amount of value
Capture less
than you create

@nilanp
Customer led
Growth
Create a huge
amount of value
Capture less
than you create
Create a huge
amount of good
will

@nilanp
Customer led
Growth
Create a huge
amount of value
Capture less
than you create
Create a huge
amount of good
will
Word of mouth
growth

Generating a consumer surplus that
turns into goodwill
@nilanp

Creating a barrier to entry
@nilanp

Retro-fitting MBA speak on what is
the right thing to do
@nilanp

Practically - how do I do that at my
business.
@nilanp

1. Define a problem you are solving
@nilanp

2. Define a KPI to measure progress
@nilanp

4. Congratulations you’ve built a
product !
@nilanp

5. Now how to build a 10x product ?
@nilanp

How to build something that is 10x
better than anything else in the
market ?
@nilanp

Build something that doesn’t exist
@nilanp

Build something that you don’t know
could ever exist
@nilanp

If you aren’t in a perpetual state of
existential crisis…
…you aren’t trying hard enough
@nilanp

No team at TransferWise tests
changing button colours
@nilanp

Building conviction:
The art of product
management

Virility plan or test all the things

= YOU DON’T KNOW WHAT YOUR
CUSTOMERS WANT

@nilanp @cataflu
Bank of England
@nilanp

SPEEEEEEEEEEEEEEEEEEEEEEEEED
@nilanp

Our growth is limited by the rate…
…we solve customer problems
@nilanp @cataflu

…we move product KPIs
@nilanp @cataflu

…we hire people
@nilanp @cataflu

…we onboard them
@nilanp @cataflu

…we build their confidence
@nilanp @cataflu

…we build their conviction
@nilanp @cataflu

…we build their impact on the
mission
@nilanp @cataflu

Product growth = People growth
@nilanp @cataflu

Man… growth is a psychologist’s
problem
@nilanp @cataflu

Autonomous
independent teams that focus
on KPIs that make a
difference to customers and
drive growth
@nilanp

Autonomous
on KPIs that make a
drive growth
@nilanp
Regulated
and
available
Instantly
and almost
zero cost
IdentityOnboarding Worry Evangelism
Problem
awareness

Autonomous
on KPIs that make a
drive growth
@nilanp
Currencies OperationsVerificationConversion Experience ViralityMarketing
Regulated
and
available
Instantly
and almost
zero cost
IdentityOnboarding Worry Evangelism
Problem
awareness

We have over 1,500 people working
in autonomous teams today in offices
from Singapore to New York
@nilanp @cataflu

Some things work great
@nilanp @cataflu

… we’ve still got some stuff to figure
out
@nilanp @cataflu

Mind the Product Engage Manchester

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