Product Discovery

 Product Discovery 

Rapid learning in disvoery and building stable and solid releases in delivery. 

Usually the second goal will not be an issue but solving the customers real problem is important for product success. The key here is discover great products, it is really essential that you get yoru ideas in front of real users and customers early and often. If youwant to deliver great products. you want use best practices for engineering and try not to overried the engineer concerns. 

Princinple of product discovery identifies the early risk of the product. 

1. WHat value this product brings to the customer? What is this for (value risk)

2. Will the customer be able to use without complication ? (usability risk )

3. Can my engieerring team build it , does our infra and architect support ?  (Feasibility risk)

4. Does this solution work for our business in term of legal, sales, marketing and etc  (Viability risk)

our go to tool for product discovery is prototype. 

The problem framing technique

1. Can we afford for this solution (financialy)?

2. Does his solution works with our partners ( business development risk)

3. Is this solution consistent with our brand (Marketing risk)

4. Is this solution something our sales staff equipped to sell ( sales risk)

5. Is this sosmewthing we can do from a legal or compliance ? (legal risk)

6. Is this solution something we should do ? (Ethical risk)

oppurtunity assesment technique   (Fast learning and big insight)

1. waht busines objective is this work intended to address ? objective 

2. How will you know if you have succedded ? key results 

3. what problem will this solve for our customers (customer problem )

4. what type of customers are we focused on ? (Target market)

Qualitative Value Testing: Uncovering the "Why" Behind User Behavior

Understanding the "Why"

While quantitative methods provide valuable data on user behavior, qualitative methods delve deeper into the "why" behind these actions. Qualitative value testing is a powerful technique that helps you understand the intrinsic value your product or service offers to users. By combining usability testing and in-depth interviews, you can gain valuable insights into user motivations, preferences, and pain points.

The Power of Qualitative Value Testing

1. Usability Testing:

   • Observe User Interactions: Watch how users interact with your product to identify any usability issues or areas of confusion.
   • Identify Pain Points: Pinpoint the specific challenges users face and how your product can alleviate them.

2. In-Depth Interviews:

   • Uncover Underlying Needs: Delve into users' motivations, goals, and frustrations to understand their true needs.
   • Explore the "Why": Ask probing questions to uncover the reasons behind user behavior and preferences.
   • Identify Value Propositions: Discover the unique value your product offers to users.

Specific Value Testing Techniques

1. Money as a Value Metric:

   • Willingness to Pay: Assess users' willingness to pay for your product or service.
   • Price Sensitivity: Understand users' price sensitivity and identify the optimal pricing strategy.

2. Reputation as a Value Metric:

   • Referral Intent: Measure users' willingness to recommend your product to others.
   • Social Sharing: Assess users' inclination to share your product on social media.

3. Time as a Value Metric:

   • Time Commitment: Evaluate users' willingness to invest time in learning or using your product.
   • Active Participation: Gauge users' enthusiasm for participating in beta testing or user research.

Quantitative Value Testing: Collecting Evidence

While qualitative methods provide rich insights, quantitative methods offer a more structured approach to data collection and analysis. By combining both qualitative and quantitative techniques, you can gain a comprehensive understanding of user value.

Quantitative Value Testing Techniques:

• Surveys and Questionnaires: Collect quantitative data on user satisfaction, preferences, and perceptions.
• A/B Testing: Experiment with different product features or marketing messages to measure their impact on user behavior.
• User Analytics: Track user behavior and engagement metrics to identify trends and patterns.

A/B Testing: Beyond the Button Color

A/B testing, often associated with tweaking button colors and call-to-action phrases, has evolved into a powerful tool for product discovery and innovation. While optimization A/B tests focus on incremental improvements, discovery A/B tests delve deeper, exploring radical product changes and user experiences.

Discovery A/B Testing: A Deeper Dive

Discovery A/B tests are designed to uncover new insights and validate bold product hypotheses. Here's how it works:

1. The 99/1 Split:
   • Control Group (99%): The majority of users continue using the current product version.
   • Experiment Group (1%): A small subset of users is exposed to the new, experimental version.
2. Intensive Monitoring:
   • The experiment group is closely monitored to track user behavior, engagement metrics, and conversion rates.
   • Analytics tools are used to identify trends and patterns in user interactions.
3. Qualitative Feedback:
   • User interviews and surveys are conducted to gather qualitative insights into the user experience with the new version.
   • These insights can help explain quantitative data and identify areas for improvement.

The Role of Invite-Only Testing

For risk-averse companies or those with limited user traffic, invite-only testing provides a controlled approach to product discovery. By inviting specific users to try the experimental version, companies can gather valuable feedback and mitigate risks.

Customer Discovery Programs: A Collaborative Approach

Customer discovery programs foster a collaborative relationship between the product team and a select group of early adopters. By providing frequent updates and gathering feedback, these programs help:

• Validate Product Ideas: Test assumptions and identify potential pitfalls.
• Refine the User Experience: Incorporate user feedback to improve the product's usability and desirability.
• Identify Emerging Trends: Stay ahead of the curve by understanding evolving user needs and preferences..

Types of Analytics for A/B Testing

To fully leverage the power of A/B testing, consider these key analytics categories:

1. User Behavior Analytics:

   • Track user actions, such as clicks, page views, and time spent on specific elements.
   • Identify user flows and drop-off points.
   • Analyze user engagement metrics, such as scroll depth and video completion rates.

2. Business Analytics:

   • Monitor key business metrics, including revenue, conversion rates, and customer lifetime value.
   • Analyze customer acquisition costs and retention rates.
   • Track sales funnels and identify bottlenecks.

3. Performance Analytics:

   • Measure website and app performance, including load times and response times.
   • Identify and resolve technical issues that may impact user experience.
   • Monitor server uptime and error rates.

4. Financial Analytics:

   • Analyze revenue streams, costs, and profitability.
   • Track billing cycles and payment processing.
   • Monitor customer churn and subscription renewals.

5. Go-to-Market Analytics:

   • Measure the effectiveness of marketing campaigns and customer acquisition efforts.
   • Analyze customer acquisition costs and sales cycles.
   • Track customer satisfaction and net promoter score (NPS).

6. Sentiment Analytics:

   • Monitor customer feedback through surveys, social media, and reviews.
   • Analyze customer sentiment and identify emerging trends.
   • Use sentiment analysis to improve customer support and product development.

By effectively utilizing A/B testing, invite-only testing, customer discovery programs, and analytics, product teams can unlock the full potential of their products and deliver exceptional user experiences.