How to Lead Customer Value Creation by Dan Olsen at Leading the Product Melbourne

how to lead customer Value creation DAN OLSEN OCT 20, 2016

HowDoesYourCompanyMakeMoney?

ByCrea5ngValueforCustomers

Product-MarketFit

Whoatyourcompanycreatesvalueforcustomers?

Whosejobisittomakesureyourcompanyiscrea5ngvalueforcustomers?

AProductManagerbyanyothername…

Spiderman’smo.o:“Withgreatpowercomes

greatresponsibility”

ProductManager’smo.o:

Spiderman’smo.o:“Withgreatpowercomes

greatresponsibility”

“Withgreatresponsibility

comesNOpower”

It’sMoreLikeThis

AsaProductManager,YourJobIsTo:

n Herdthecatsinsideyourcompany

n Togetthemtocreatevalueforcustomers

n Undercondi5onsofextremeuncertainty

Soundsgreat!WheredoIsignup?

That’sWhyIWrote

TheProduct-MarketFitPyramid

TheLeanProductProcess

1. Determineyourtargetcustomer

2.  Iden5fyunderservedcustomerneeds

3. Defineyourvalueproposi5on4. SpecifyyourMVPfeatureset

5. CreateyourMVPprototype

6. TestyourMVPwithcustomers

Transporta5onwithin100kmofmyhome

SoccerMom

SpeedDemon

Carrykids&gear

Safety

Fueleconomy

Gofast

Lookscool

Makesmelookcool

TargetCustomerHasDis5nctNeeds

High-levelneed

TargetCustomer

Detailedneeds

IdealProduct

SoccerMom SpeedDemon

n  Russians:pencil

n  NASA:spacepen($1MR&Dcost)

Example

n  Abilitytowriteinspace(zerogravity)

ProblemSpacevs.Solu5onSpace

ProblemSpace

n  Acustomerproblem,need

orbenefitthattheproduct

shouldaddress

n  Aproductrequirement

Solu5onSpace

n  Aspecificimplementa5on

toaddresstheneedor

productrequirement

Problemvs.Solu5onSpace:ProductLevel

ProblemSpace(userbenefits)

Solu5onSpace(product)

TurboTax

TaxCut

Pen and paper

Prepare my taxes

File my taxes

Check my taxes

Maximize deductions

Reduce audit risk

ProblemSpace

Problemvs.Solu5onSpace:FeatureLevel

Save time filing taxes

Save time preparing taxes

Maximize my tax deductions

Check my return

Reduce my audit risk

Help me prepare taxes

Empowerment/ Confidence

Save Time

Save Money

Tax Interview Wizard

Audit Risk Analyzer

Tax Return Error Checker

Tax Data Downloader

Electronic Tax Return Filing

Tax Deduction Finder

Solu5onSpace

Priori5zingNeeds:Importancevs.Sa5sfac5onIm

portanceofUserNeed

UserSa5sfac5onwithCurrentAlterna5ves

Compe55veMarket

Low High

NotWorthGoingAjer

portanceofUserNeed

Low High

portanceofUserNeed

Low High

portanceofUserNeed

Compe55veMarket

Opportunity

Low High

NotWorthGoingAjer

portanceofUserNeed

Low High

Crea5ngCustomerValue

ImportanceofUserNeed

UserSa5sfac5onwiththeProduct

Low High

Area=CustomerValueCreated

Area=OpportunitytoCreateCustomerValue

UsersRated13KeyFeaturesinaSurvey

Recommendedreading:�WhatCustomersWant�byAnthonyUlwick

KanoModel:UserNeeds&Sa5sfac5on

UserSa5sfac5on

UserDissa5sfac5on

Performance(moreisbener)

Delighter(wow)

Neednotmet

Needfullymet

MustHave

Needs&featuresmigrateover5me

WhatisYourValueProposi5on?

n Whichuserbenefitsareyouproviding?

n Howareyoubenerthancompe5tors?

MustHaveBenefit1

PerformanceBenefit1

PerformanceBenefit2

PerformanceBenefit3

DelighterBenefit1

DelighterBenefit2

Compe9torA Compe9torB YouMustHaveBenefit1

PerformanceBenefit1

PerformanceBenefit2

PerformanceBenefit3

DelighterBenefit1

DelighterBenefit2

Compe9torA Compe9torB YouMustHaveBenefit1 Y Y

PerformanceBenefit1 High Low

PerformanceBenefit2 Low High

PerformanceBenefit3 Med Med

DelighterBenefit1 Y -

DelighterBenefit2 - -

Compe9torA Compe9torB YouMustHaveBenefit1 Y Y Y

PerformanceBenefit1 High Low Med

PerformanceBenefit2 Low High Low

PerformanceBenefit3 Med Med High

DelighterBenefit1 Y - -

DelighterBenefit2 - - Y

WhatisanMVP?

CourtesyofJussiPasanenSeeAaronWalter’sbookDesigningforEmo-on

WhatisanMVP?

CourtesyofJussiPasanenSeeAaronWalter’sbookDesigningforEmo-on

TheUXDesignIceberg

Whatmostpeopleseeandreactto

Whatgoodproductteamsthinkabout

TheUXDesignIceberg

Whatmostpeopleseeandreactto

Whatgoodproductteamsthinkabout

Itera5veDesign&TestWorkflow

sketches

Interac5vity

Fidelity

Clickable

Wireframes*

Clickable

Mockups**

Product

Test Test

*Balsamiq:balsamiq.com**InVision:invisionapp.com

Dos&Don’tsofUserTes5ngSessions

n  Explaintotheusern  Feedbackwillhelpimprovetheproduct

n  Nottoworryabouthur5ngyourfeelings

n  �ThinkAloudProtocol�

n  Trytobeaflyonthewall

n  Takenotesandreviewthemajerwardsfortake-aways

Don’t

n  �Help�userorexplaintheUI(e.g.,�clickoverhere�)

n  Askleadingorclose-endedques5ons

n  Getdefensiveorblametheuser

Itera5ngBetweenUserTes5ngWaves

CustomerFeedback

Mockups/Code

ProblemSpaceAllyourhypotheses

Solu5onSpaceUserreac5ons

ProblemSpace

Solu9onSpace

TheLeanProductProcess:Marke5ngReport.comCaseStudy

Marke5ngReport.comCaseStudy

n Myclient(CEO)hadanewproductidea

n Team:me,CEO,VPmarke5ng,UIdesigner

n Goalsn  Seeifbusinessopportunityexists

n  Dosoquicklyandinexpensively(nocoding)

n �Marke5ngreport��wouldletconsumerscontrolthedirectmailthattheyreceive

n Analogoustocreditreport

MappingOutCustomerBenefits

Reduce Junk Mail

Find out what �they� know about you

Money Saving Offers

Compare Yourself to Others

Social Networking

Marketing Report

Marketing Score

Marketing Profile

Save Trees

�Marke5ngShield�Concept

�Marke5ngSaver�Concept

Recrui5ngTargetCustomers

n  Usedcustomerresearchfirm(panel)

n Wrotescreenertoiden5fytargetcustomers

n Workfull-5me

n  FitforSaver:usecoupons,Costcomembership

n  FitforShield:usepapershredder,blockcallerID

n Moderatedusersthroughthemockups

LearningfromFirstWaveofUserTests

Reduce Junk Mail

Find out what �they� know about you

Money Saving Offers

Compare Yourself to Others

Social Networking

Marketing Report

Marketing Score

Marketing Profile

Save Trees

Legend

Strong appeal

Some appeal

Low appeal

�Shield� Concept �Saver� Concept

SummaryofCaseStudy

n 4weekstovalidatedproductconcept

n 1roundofitera5on

n Zerocoding

n Reasonablecost

n Customerswillingtopay$10/month

n Trimmedawaynon-valuablepieces

n Youcanachievesimilarresults

1.  Determineyourtargetcustomer

3.  Defineyourvalueproposi5on4.  SpecifyyourMVPfeatureset

5.  CreateyourMVPprototype

6.  TestyourMVPwithcustomers

Iterate:

§  Hypothesize-Design-Test-Learnloop§  Improveproduct-marketfit

Qualita5vevs.Quan5ta5veApproach

Qualita5ve Quan5ta5ve

Oprah Spock

THANK YOU!

@danolsen

dan-olsen.com

slideshare.net/dan_o

How to Lead Customer Value Creation by Dan Olsen at Leading the Product Melbourne

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Transcript of How to Lead Customer Value Creation by Dan Olsen at Leading the Product Melbourne

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