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Product Discovery Techniques for Validating Customer Value
- 1. @Julee_NorthStar Product Mindset Julee Everett Product | Innovation | Portfolio
- 2. Julee Everett Innovation & agility coach • Agile coaching and training • Innovation games • Ideation labs • Product and portfolio coaching • Professional Scrum Trainer (PST) Collaborator, Lean Agile Marketing Founder, Tampa Product Owner User Group Founder, Gulf Coast ProductCamp Tampa Bay Agile Coach of the Year 2017 Conference Speaker and public workshops http://NorthStarProductLabs.com 2
- 3. minutes 3 Product Definition 5 Product noun prod·uct | ˈprä-(ˌ)dəkt 1) : something produced 2) : something (such as a service) that is marketed or sold as a commodity Create a definition for ‘product’ -- merriam-webster.com _________________________________________________________________ _________________________________________________________________ _________________________________________________________________ _________________________________________________________________
- 4. minutes 4 Product Definition 5 Product noun prod·uct | ˈprä-(ˌ)dəkt 1) : something produced 2) : something (such as a service) that is marketed or sold as a commodity -- merriam-webster.com (1): something produced (2): something (such as a service) that is marketed or sold as a commodity Products must solve a problem for a customer.
- 5. Product Mindset • Build to need • Feature development is a measurement of user engagement • Minimize time to value • Prioritize growth of business over product perfection • Excel at change • Budget for ongoing investment, not time
- 6. There is a shift happening @Julee_NorthStar
- 7. Design companies outperform other orgs © 2016 Design Management Institute
- 8. Begin with access to customers and access to data @Julee_NorthStar
- 9. Vision, Value, Validation VISION What do we want? VALUE What value are we creating? What outcomes indicate we are succeeding? VALIDATION How will we measure valuable outcomes? How will we validate our assumptions about value? Reference: Stacey Ackerman
- 10. 10 Expressing customer outcomes through values B2C Values Social Impact Elements: Self-Transcendence. Examples: Toms, 40 Ocean, Rothy’s Life-Changing Elements: Self-Actualization, Motivation, Hope, Heirloom, Affiliation and Bonding. Examples: affiliation - Boston Red Sox, motivation - Fitbit Emotional Elements: Wellness, Therapeutic, Rewards, Attractiveness. Example: Rewards - Starwood Rewards Functional Elements: Saves time, makes money, saves money, simplifies, organizes B2B Values Inspirational: Purpose, Vision, Hope, Social Responsibility Individual Value: Career – Network expansion, marketability, reputational assurance Personal – design & aesthetics, growth & development, fun & perks Ease of Doing Business Value: Productivity – time savings, reduced effort, information. Access – availability, variety, configurability Relationship – responsiveness, expertise, cultural fit Operational – organization, simplification, integration Strategic – risk reduction, reach, flexibility Functional Value: Economic – improved top line, cost reduction Performance – product quality, scalability, innovation Table Stakes – Meeting specifications, acceptable price, regulatory compliance, ethical standards
- 11. Observations Conversations Paperprototype Pre-orderpage Digitalprototype Explainervideos Landing pages ConciergeM VP W izard ofOz Pricetest Beta Publicrelease Scalability Optim ization The Truth Curve © Scrum.org Increasinglevelofevidence Increasing level of effort Problem fit (should we build it?) Product fit (can we create a business?) BUILDING HERE IS BASICALLY WASTE
- 12. Validate: Start outside in, not inside out Discovery PROBLEM FIT Delivery PRODUCT FIT Dual-Track Agile by Marty Cagan Are we building the right thing? Are we building the thing right?
- 13. Vision, Value, Validation Value is what your customer is willing to pay for. Value is only an assumption until validated by the market. An outcome is a measurable change in human behavior that creates value.
- 14. Discovery is the new knowing Evidence-based medicine Evidence-based management Why not evidence-based discovery? @Julee_NorthStar
- 15. Experiment with Wizard of Oz 16 Wizard of Oz: Mimic system responses with fake functions that appear to be computer-driven, when they are actually human-controlled. Use when testing assumptions about effects and interactions of complex systems. Slow, but effective in building complex models. Speech interfaces, A/R, Zappos
- 16. Experiment with paper prototypes 17 Paper Prototype: Use for digital products like mobile apps, websites, and web services, as well as other screen-based products or experiences Use in early stages of digital products to test assumptions like flow/number of steps. Sketch screens, or draw and cut out parts of a user interface (a text field or dropdown.)
- 17. Experiment with a physical prototype 18 Physical Model: Evolve an intangible idea or sketch, into a physical, three-dimensional plane. Spark discussions about form and features. Use when the end result is a physical product; use a wide range of materials to build mock-ups for testing -- rough materials, such as paper, cardboard, clay, or foam.
- 18. Experiment with a landing page 19 Landing page: Tests the perfect combination of headlines, copy, offers, calls to action and images. Use to test assumptions about user behavior in order to increase conversion rate. Test one element at a time; use A/B Testing software.
- 19. Experiment with working prototypes 20 Working Prototype: Not bug-free, not sustainable or scalable. Beta video: Waiting list grew from 5,000 to 75,000 overnight Drobox video: Raised $48,000,000 with Explainer video
- 20. @Julee_NorthStar Practice Exercise Opportunity Solution Tree @Julee_NorthStar
- 21. minutes Product Discovery 15 Frame the problem Break confirmation bias Create more ideas Define outcomes Opportunity Solution Tree A simple visualization exercise to expand on ideas and frame the problem.
- 22. idea/solution desired benefit/outcome shade!landscaped yard Feel more grounded in my community buy a house
- 23. idea/solution benefit/outcome Feel more grounded in my community realize the tax benefits access to a better school buy a house shade! better curb appeal lower utilities landscaped yard
- 26. Framing the problem shade! landscaped yard potted trees shade clothspergolaumbrella
- 27. shade! landscaped yard potted treespergola increase curb appeal Agree on a common problem and the best opportunity Opportunity Idea/Solution
- 28. increased curb appeal landscaped yard potted treespergola lower utilities Increase value of house solar panels Targeted Outcome Opportunity Idea/Solution
- 29. increased curb appeal landscaped yard potted treespergola lower utilities Increase value of house solar panels 2 potted Fox Tree Palms create shade on the patio 60% of daylight from June - September Targeted Outcome Opportunity Idea/Solution Experiments
- 30. Class project minutes 31 5 What is the smallest possible experiment that you can run to gain confidence about your major assumptions? We believe that ____________________ To verify that, we will ___________________________________ ___________________________________ And measure ____________________ We are right if ___________________________________ ___________________________________ value experiment prove major assumption
- 31. Avoid: Ideas with no problem to solve Prevent scurvy applesgrapefruitoranges Cross the Atlantic Safely navigate Targeted Outcome Opportunity Idea/Solution
- 33. When we visualize our thinking, we can examine it and others can critique it.
- 34. @Julee_NorthStar Supercharge your product engine… Products must solve a problem for the customer Value can be defined in multiple ways Building any product without evidence of value is waste When we visualize our thinking, others can critique it