PRODUCT DEVELOPMENT: ACCELERATE PRODUCT DELIVERYAnupam Kundu @mydibba medium.com/@anupamk

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HOW ARE YOUR CUSTOMERS DOING?

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Raj Sisodia, Distinguished Professor of Global Business and Whole Foods Market Research Scholar in Conscious Capitalism at Babson College in Wellesley, MA

GREAT CUSTOMER OUTCOMES

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Amazon Chai CartAmazon Tatkal

Amazon Easy ShipAmazon Seller Flex

https://hbr.org/2016/07/how-amazon-adapted-its-business-model-to-india

Cuba Expansion of AirBNB

http://fusion.net/story/286372/how-airbnb-piggybacked-on-a-communist-program-to-make-cuba-its-fastest-growing-market-ever/

http://fortune.com/cuba-havana-airbnb/

WHAT DO CUSTOMERS REALLY WANT

5https://medium.com/@anupamk/https-medium-com-anupamk-getting-started-with-customer-obsession-a2e9d55d57d1#.6w8q21eokhttps://hbr.org/2016/09/know-your-customers-jobs-to-be-done

SECTOR OUTCOMES DEFINED IN TERMS OF CUSTOMER Customer Value

FINANCIAL SERVICES I, Customer, want you to _____ so that I can _____ •Help me plan for my future •Protect my family, •Keep my money safe, •Grow my money, •Get Financial Advice anywhere anytime, •I want to save up for ..•Help me to retire comfortably, •Provide a legacy for my kids

FOOD SERVICE •Healthy food every meal•Nutrition for my family•Great experience for my guests•Home cooked food every lunch•Ethically sourced food

HEALTHCARE / ElderCare

•Take care of my old parents back home•Mobility support for my grandparents•Comfortable sleeping for 80+

MOBILITY

EXERCISE: ARTICULATE CUSTOMER OUTCOMES

BASICS OF GETTING PRODUCT OUT OF THE DOORFASTER, BETTER, CHEAPER

Articulate Customer Outcomes

Knowledge of customer informs everything the

team does.

Describe outcomes in customer terms

Reduce Uncertainty

Be comfortable with ambiguity and limited

information

Seek to identify the opportunities most likely to

achieve outcomes

Align Effort to Outcomes

Identify the best people to deliver these outcomes

All roles and functions ate culturally aligned to deliver only customer outcomes

Deliver Value Through Learning

Do the smallest thing to prove it. Feedback loops

are short.

Respond to change fast

Provide Visibility

Value is understood and measured.

Better business decisions are based on

measuring the right thing

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Nordstrom Innovation Lab

Innovation Process• Do we have a real opportunity to

address a customer outcome?

• Is it worth addressing this outcome over all the others?

• How do we know we can solve this better than others?

• What is our chance of success?

• How will we know?

https://hbr.org/2017/01/are-you-solving-the-right-problems

REDUCE UNCERTAINTY:TEST AND LEARN

EXERCISE: WRITE AN OPPORTUNITY HYPOTHESIS

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We believe providing bite sized digital content around personal investing, both seasonal and evergreen, will help visiting customers feel confident in our expertise and make best use of their time when they are waiting for the advisor.

We know we succeeded when we see - More than 15% of the waiting customers sharing

and/or sending content to themselves/others- 20% of waiting customers speak about that content

to the advisor

We believe providing time sensitive news and content alerts through social media (Snap) to our younger subscribers will help them feel more informed

We know we succeeded when we see - 25% Increase social media checki-ins from new

emerging millennial readers

We believe that simplifying “Adding Funds” through mobile for existing customers will improve recurring investments into their current portfolio at the current risk profile

We know we succeeded when we see - More funds being added through mobile within the first 4 weeks of the launch (compared to current numbers)

We believe <building this capability>

for <customer group or segment or target audience>

will achieve <the intended outcome>

we will know we have succeeded when we see[this measurable signal]

KILL AT ANY POINT

EXPLOIT SUSTAIN RETIRE

OPPORTUNITY PIPELINE

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EXPLORE

Inspired by The Lean Enterprise Book

ALIGN PEOPLE / EFFORT TO OUTCOMES

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SHARED ALIGNMENT

TRUE DIRECTION PRODUCTIVITY

CROSS FUNCTIONAL OUTCOME TEAMS

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https://medium.com/stretch-magazine/getting-started-with-digital-ehh-new-organizational-strategy-part-3-5efcbb700ad5#.inx42oj0m

Cross functional, autonomous teams work together and learns from real-life customer insights

End-to-end execution of product strategy. Entire team accountable for product strategy success and

organizational vision.

Long term focus on customers and products. Measured by outcomes

and responsiveness to change.

DELIVER VALUE THROUGH VISIBILITY

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Sept

+3 months

+6 months

+9 months

http://thetoolkitproject.com/tool/experiment-canvas#sthash.JhqybzfT.dpbs

SUMMARY FLOW

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Deliver Value Through Learning

Provide Visibility

Align People / Effort to Outcomes

Reduce Uncertainty

Articulate Customer Outcomes

OC - 1

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OC -2

OC - n

2Test and

Learn

Opportunity Scan

Validated Opportunit

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Map outcomes to opportunities and operational investments

Build. Measure. Learn loopsBusiness Benefits

OMTMLearning

Bo’sJourney(JTBD)

MEASURES• Shared understanding of measures of customer value,

commercial benefits• Feedback

Purpose: "Help me and my team understand, identify and measure customer value so that we know when to pivot, stop or persevere” “Make me understand how customer value is related to commercial benefits“

PRACTICES

- Overall Measurements and Learning model- Leading and Lagging Indicators- Customer value defined in customer terms- OMTM- Hypothesis writing- MVP metric identification (functional, perceptual)- How learning flows up from measurements? - How outcomes map to benefits?- Examples – How to get started

MECHANICSLevel 0• Online Blog Posts• Simple diagrams

Level 1• Schedule for 1 hour conversation• Presentation• Connecting

Level 2• Half day workshop • Follow through calls

Level 3• Active embedded engagement for limited period• Story telling

EXAMPLE: MEASUREMENTS AND LEARNING SERVICE

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DIGITAL WINNERSUNDERSTAND THIS