Finest-5 Product reads #24
Product-Led Growth, Pivot and other reads..
Hi! Happy Monday,
Product-Led growth has a brief history, but everyone notes the impact it has created in the market. From the likes of Slack to Notion, products going viral with minimal sales effort and Product qualified leads leading conversion, we see the era of Products is just starting.
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Good Pivot Bad Pivot
Pivot, being an integral part of PMF, requires all hands on deck to make it a success. We shall think from the first principle, as there is no playbook that can guarantee success. Continue reading..
Key Takeaways:
A pivot that is not recognized is doomed for failure.
Change exactly one fundamental thing. You’re running an experiment, not gambling.
Once executing, you must move as fast as possible. Launch the smallest thing possible and iterate rapidly, lean startup style.
Driving Retention: Case Study with Meesho
Retention has been the trick subject that very few claims to know the answer to, and even fewer know the answer. Retention is very critical to understanding and prioritizing the right thing to build, else we create a leaky funnel. Continue reading..
Key Takeaways:
It’s 5–25X more expensive to gain a new customer than it is to keep an existing customer
Gamification has been a long-debated product strategy to boost customer engagement and retention.
Today, the biggest issue with metrics is not how to measure them. It’s choosing a few key metrics to monitor, spend less time tracking, and more time acting upon the found data.
Lift Model
Another interesting model I came across this week is the lift model. It’s a framework for evaluating a digital experience using a heuristic evaluation, with six important factors: value proposition, relevance, clarity, anxiety, distraction, and urgency. Continue reading..
Key Takeaways:
A strong tagline can help this process by instantly communicating your proposition.
Avoid creating new icons for navigation because these can also create anxiety.
Create a sense of scarcity by showing stock levels and display end dates for promotions.
How to Create a Product Content Strategy
Content is vital to a product and I too am a culprit of ignoring it for a long time. But, we need to realize, In the best of companies, content is the design process, not an afterthought. Continue reading..
Key Takeaways:
Landing on a marketing page with a completely different vocabulary and tone of voice to the product itself can jar and off-putting.
Trying to decide on a tone of voice is almost impossible if the business hasn’t decided on its brand values and positioning.
Some things to consider including in your content guidelines are: Formats, Email manners, Vocabulary
Product led growth: What makes Canva, Figma & Shopify the best
We all talk about Product-led SaaS, but delivering a product led SaaS is difficult. Today, there are two kinds of SaaS companies, one that are product led, while other who wish to be Product-led. Continue reading..
Key Takeaways:
In a world where anyone can take your software for a spin, end-user adoption and retention are functions of how much value your application can deliver over your competition.
Those who can deliver value without beating around the bush stand to pull ahead of the pack.
PQL(Product qualified lead), at its core, it remains a function of a combination of persona, actions fired, # of times, and time period.
Product of the week: zepto
Delivered in 10 minutes.
If you are like me, and late to the party, FYI, India is going crazy about this super-fast delivery that has shaken the grocery at hyper-local. With an average time of delivery, less than 9 minutes. It is going to rule the world.