Isobar - Product & Ventures - Product Growth Management Playbook
- 1. PMF & Growth Playbook Why, what, how & when (internal playbook for Isobar)
- 2. Contents This document was created with 3 purposes in mind - to explain, to show & to teach/use Section 1 - Theory overview, Practical Processes - Pg 4 Growth Overview - Pg 10 Experimentation: Why and Process Section 2 - Case studies - Pg 22 Sprint 0 - Growth Design Sprint - Pg 29 Sprint 1 - Growth Sprint Review - Pg 29 Ongoing - Agile Product Management Section 3 - Practitioners slides/toolkit - Pg 41 Team training slides - Pg 48 Toolkit - Templates - https://realtimeboard.com/welcomeonboard/mqIUH6eSPLzofmFvOGth3CkDcVer4DzyruVM3sspGRzGOqYWrzKHtRgUiKY62 M08
- 4. What is growth? Growth should be a metric that represents value experienced by the user
- 5. When to grow? Growth stage happens after 1) problem/solution fit 2) product/market fit 3) business model fit. N.B. Growing before product/market fit is like a pouring water into a ‘leaky bucket’
- 6. When to grow? Product/Market fit should be the focus before scaling or growth.
- 7. When to grow? What are leading indicators for product/market fit? Statistically, achieving over 40% via the Product/Market fit survey is an indicator for product/market fit.
- 8. We’re close to product/market fit Next steps?
- 9. How does the product grow? Build a growth model to understand ‘how the products grows’.
- 10. What are the key metric to focus on? North Star Metric should be the focus of growth efforts. Represents value experienced by users. E.g. daily active users, rides per day
- 11. What are the metrics to avoid? Measuring and managing vanity metrics will lead to vanity goals and meangingless growth
- 12. Practical Metrics: Input vs Output metrics Focusing on input metrics is key to driving output metrics. E.g. increasing conversations / user (input) leads to weekly active users (output metric)
- 13. How can our product Grow?
- 14. Experimentation via the scientific method - Why? According to research by Airbnb and Facebook, the odds of success of a new feature or product correlates to the # and velocity of experimentation. In short, more tests = more % of success
- 15. Experimentation via the scientific method - How? By following a structured process for testing and iterating, we can systematically improve key metrics. For example, hypothesis testing of parts of the business model, value prop testing with users, a/b testing UI and UX, testing copy for landing pages.
- 16. Growth Sprint Process In practice - 2 week overview of activity.
- 17. Setting up a cross-functional Growth Team Competencies involved in week to week growth sprints will vary depending on the priority metrics/levers to increase. Will generally involve business/exec as a sponsor, engineering, design, marketing and data.
- 18. Training a cross-functional growth team Included is an education deck to level up the growth maturity of a cross-functional team Click to access slide deck
- 19. Case studies
- 20. Case study 1: Sprint 0 (Design Sprint) Review Case study 2: Sprint 1 (Ongoing Growth Sprints) Review Case study 3: Ongoing Agile Product Management 3 Case Studies Sprint 0 Discover Design Launch Sprint 1+ Observe Data Ideate & Prioritise Design & Document Test Analysis and Synthesis Ongoing Agile Product Management Research Synthesise Prioritise Build
- 22. BAU Growth Sprint 0 Review (Growth Design Sprint) 20 August 2019
- 23. We can answer ‘how will this product grow/what’s our growth strategy?’ by executing a 2 week Growth Design Sprint Why Sprint 0 (Growth Design Sprint)?
- 24. Sprint 0 Deliverables Timeline Stage Day 1-2 Understand Day 3-4 Define Day 5-6 Diverge & Decide Day 7-8 Prototype Day 9-10 Test & Validate Outcomes Understand how the product grows and prioritise key levers Define the key metrics to focus on for upcoming sprints. Build a list of prioritised growth experiments Design and launch the tests. Collect data from tests to inform future ideas for experiment backlog, Activities & Deliverables Challenge statement Deadline & checklist Growth Model User Path To Value Prep space / working board Social Contract Daily summaries Lightning Research Collect Qual data Collect Quant data 1 sentence goal Populate experiment log Team prioritisation Experiment Design Experiment Kanban Collect Data Data Synthesis Update Test Backlog Update performance dashboard
- 25. Day 1-2: Example deliverables Sprint 0 Show ‘how this product will grow’ by: a) collecting data to inform an un-biased perspective on product/market fit b) creating a growth model so that we can prioritise growth levers b) understanding the ‘user path to value’ within the product so that we can remove friction to value c) training a team and implementing a growth/scientific process so that there can be an experiment cadence d) executing growth sprints to incrementally increase key metrics What: Challenge Statement Why: Frame the problem into a specific, measurable, actionable goal What: User Path To Value Why: Use a product analytics tool (like Amplitude) to conduct a funnel analysis of a user journey within the app. The goal is the understand the friction points preventing them experiencing the core product value of the producct What: North Star & Growth Model Why: The business needs to align around a performance metric, called a North Star. This represents user value. This is an output metric to measure and manage. Inputs to the north star are the actionable metrics to measure and manage.
- 26. Day 3-4: Example deliverables Sprint 0 Working Project Space What: User Persona Lean Canvas/Business Model Product Vision and Roadmap Why: To provide an easy, physical space to align efforts What: Weekly Sprint goals Why: To focus the team around specific growth levers What: Experiment Priority Board Why: To shortlist upcoming experiments. A physical space for the team to huddle around and decide on upcoming experiments What: ‘So What’ Board Why: Create insights and further tasks to improve growth and product by analysing and synthesising data from experiments
- 27. Day 3-4: Example deliverables Sprint 0 What: Qualitative Data: Guerilla research synthesis Why: Collecting data with a specific research objective, i.e. why aren’t users connecting, so that we can hypothesise solutions and potential features What: Quantitative Data: Retention graph, funnel flows and friction points Why: Understand, visually, where users are dropping off
- 28. Day 5-6: Diverge and decide Sprint 0 What: Experiment Log Why: Collect all ideas and prioritise as you go via a prioritisation method, e.g. RICE What: Team Prioritisation Why: Team input to strengthen growth ideas.
- 30. BAU Growth Sprint 1 Review 20 August 2019
- 31. Overview Sprint 1+ Review Done Not Done Went well Obstacles Resolutions Backlog Upcoming collaboration Sprint Context Test Analysis Synthesis
- 32. Growth Engine Overview Sprint 1+ Review What: Qisper Growth Engine Why: Visible project board to encourage collaboration
- 33. What are the priority, high leverage metrics to focus on? Sprint Context We are here. Before product/market fit, business model & product iteration is the focus Upcoming growth roadmap. Dual focus on product and growth metrics. Activation is priority metric. Acquisition secondary metric to collect data.
- 34. What’s been done this sprint? Done & Not Done Qualitative User Research (Objective: Increase activation) Guerilla interviews @ RMIT ● 3 existing user interviews ● 2 new user interviews ● 1 product/market fit survey Growth Experiments Fliers @ RMIT RUOK Push Broadcast RUOK Facebok Ads Not Done Digital Fliers (not enough time) Socialised 2 week sprint process with team
- 35. What did we observe from the tests? Done: Analysis & Synthesis of results Synthesis Good or bad? Bad (Un)expected? Unexpected Compared with industry? Low activation /engagement What happened? Increase in ‘session start’ not correlating to increase in messages sent. Why? Users are logging on but not engaging in high value events because they aren’t seeing quality or relevant people to connect with. Priority Opportunities Discover why: * users aren’t sending messages * Users aren’t accepting new connections Key Takeaways 1. Test interests, groups and events 2. Research and test ‘meaningful moment’/job-to-be- done
- 36. How can we improve our process going forward? Went Well, Obstacles, Resolutions Obstacles Firebase functionality Resolutions Leverage knowledge from Dim and Ben Well Team ideation and refinement of tests based on data Not Well Impact of RUOK broadcast test Speed of tests Visibility for stakeholders
- 37. What next? Prioritised Backlog Experiment Board Low effort/Low Impact ● Digital filers for online communities High effort/High Impact ● Test prototypes for 1-player mode ● Design and test ‘Interests’ and ‘Events’
- 38. How your team can manage your own growth sprints DIY Growth Sprints Checklist 1. Setup visible project space with Socialise 2 week sprint process with cross-functional team 2. Appoint team member to be ‘Growth Co-ordinator/Manager’ 3. Day 1-3: Observe quant and qual user data. Make hypothesis and team ideation of experiments. 4. Day 4-5: Team prioritisation of experiments. Winning experiments to be designed, documented, socialised 5. Day 6-10: Execution of growth experiments 6. Socialise wins, losses, learnings 7. Double down on potential ‘veins of growth gold’ 8. Trade-off ‘dead ends’ 9. Repeat cycle of Step 3-8
- 40. BAU: Delivering incremental value Sprint Review 20 August 2019
- 41. Overview Product Manager - Program 1 Review Product Backlog User Research & Synthesis Product / Market Fit Survey & Synthesis Backlog Grooming & Prioritisation Decomposing vision into executable sprints Product Roadmap
- 42. Overview Decomposing Vision in to yearly strategy, quarterly objectives, measurable monthly outcomes
- 43. Product Backlog
- 44. Product road map to show product goals (increasing NPS & product/market fit), product features, data infrastructure and marketing initiatives. Product Roadmap
- 45. Guerilla research: User interviews onsite to collect qualitative data from current users User Research
- 46. Guerilla research: Synthesis of data via affinity mapping to group problems, solutions, potential features User Research
- 47. Product/Market Fit surveys - via Typeform User Research
- 48. Product/Market Fit surveys - synthesis and key takeaways User Research
- 49. Workshop with ambassadors (power users): How can it help more? User Research
- 51. Tools & Resources Sprint 0 Sprint 0 Timetable & Deliverables Growth Model Growth Levers User Path to Value Social Contract Qual Data Folder Quant Data Folder Experiment Log Experiment Design Doc Experiment Kanban Stakeholder Growth Report Sprint 1 & Ongoing Project Workspace Experiment Backlog Experiment Design Document Growth Roadmap Sprint Goals Sheet Sprint Activities Timetable Analysis & Synthesis Doc Sprint Review Template DIY Growth Team Checklist Stakeholder Growth Report Program Review & Ceremonies Monthly Throughput Review Stakeholder Growth Report
Editor's Notes
- #3: Make it a playbook/pitch Put in section for costs
- #21: How to leave customer with sprint 1 tools/work stuff they can work with
- #23: Create Internal Appendix Internal links for internal
- #24: Isobar it / common lanauge with offerings:
- #25: Drill down: experimental process, phases, upcoming experimental work Explain high level outcomes. Deliverables may change with project.
- #27: Take hi res and insert into miro
- #32: How to leave customer with sprint 1 tools/work stuff they can work with
- #33: How to leave customer with sprint 1 tools/work stuff they can work with
- #42: How to leave customer with sprint 1 tools/work stuff they can work with
- #43: How to leave customer with sprint 1 tools/work stuff they can work with
- #44: How to leave customer with sprint 1 tools/work stuff they can work with
- #45: How to leave customer with sprint 1 tools/work stuff they can work with
- #46: How to leave customer with sprint 1 tools/work stuff they can work with
- #47: How to leave customer with sprint 1 tools/work stuff they can work with
- #48: How to leave customer with sprint 1 tools/work stuff they can work with
- #49: How to leave customer with sprint 1 tools/work stuff they can work with
- #50: How to leave customer with sprint 1 tools/work stuff they can work with