Succesful Product Strategy | Moe Ali | ProductTank Toronto
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As a product manager, your entire job revolves around deciding what you need to do next, in other words, having a product strategy. Successful product strategy means balancing all factors such as internal capabilities, competitive landscape, user needs and available opportunities. Moharyar discusses these challenges and provides a few simple frameworks one can apply to assess which direction to take to ensure the overall success of their product. Moharyar has over 5 years’ experience as a product manager, working for companies such as Apple, Bell and Loblaw Digital. Moharyar is passionate about early stage start-ups and is a lead instructor for Product Management at BrainStation. His background in engineering, combined with his Master's in Business Administration from Queen's University, has allowed him to develop a deep understanding of product management. Moharyar blogs on popular Product concepts and at one point was the number 1 “Most Viewed Author” on Minimum Viable Product on Quora. You can find Moharyar on Twitter @MoeAli454 --------------------------------- Join us in the #toronto channel on Slack: http://slack.mindtheproduct.com/
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Succesful Product Strategy | Moe Ali | ProductTank Toronto
- 2. Senior PM, Loblaw Digital Moe Ali SUCCESSFUL PRODUCT STRATEGY
- 3. EDUCATION WORK Queen's University Master of Business Administration (MBA) University of Waterloo Bachelor of Science, Mechatronics Engineering iPhone Operations Intern Apple
- 4. EDUCATION WORK Queen's University Master of Business Administration (MBA) University of Waterloo Bachelor of Science, Mechatronics Engineering iPhone Operations Intern Apple WORK Product Manager, Big Data Services Bell
- 5. WORK iPhone Operations Intern Apple WORK Product Manager, Big Data Services Bell STARTUP Co-Founder & CEO Plate Labs
- 6. WORK Product Manager, Big Data Services Bell STARTUP Co-Founder & CEO Plate Labs WORK Senior Product Manager Loblaw Digital
- 7. STARTUP Co-Founder & CEO Plate Labs WORK Senior Product Manager Loblaw Digital WORK Lead Instructor - Product Management BrainStation
- 8. WORK Senior Product Manager Loblaw Digital WORK Lead Instructor - Product Management BrainStation WORK Founder & CEO Product IQ productiqL E A R N T H E B E S T. F R O M T H E B E S T.
- 9. WORK Lead Instructor - Product Management BrainStation WORK Founder & CEO Product IQ productiqL E A R N T H E B E S T. F R O M T H E B E S T.
- 10. People think focus means saying yes to the thing you've got to focus on. But that's not what it means at all. It means saying no to the hundred other good ideas that there are. You have to pick carefully. I'm actually as proud of the things we haven't done as the things we have done. Innovation is saying "no" to 1,000 things. STEVE JOBS
- 11. WHAT IS PM?
- 13. BUSINESS TECHUX I’ve always defined product management as the intersection between business, technology and user experience. A good product manager must be experienced in at least one, passionate about all three, and conversant with practitioners in all. MARTIN ERIKSSON Founder, Product Tank
- 14. There are known knowns. These are things we know that we know. There are known unknowns. That is to say, there are things that we know we don't know. But there are also unknown unknowns. These are things we don't know we don't know. DONALD RUMSFELD
- 16. !+ = å " Can I build it? Can I sell it?
- 17. å ?=
- 18. != å å
- 19. # A PM’S TOOLKIT
- 20. BUILD MEASURE LEARN CUSTOMER JOURNEY MAPPING BUSINESS MODEL CANVAS PRODUCT IQ FRAMEWORK # A PM’S TOOLKIT
- 22. PRODUCT IQ FRAMEWORK BUSINESS MODEL CANVAS The Business Model Canvas is a strategic management template for developing new or documenting existing business models. It is a visual chart with elements describing a product's value proposition, infrastructure, customers, and finances.
- 23. PRODUCT IQ FRAMEWORK BUSINESS MODEL CANVAS The Product IQ Framework is a lean startup template that helps you assess the end-to-end viability of new business models or major changes in strategic direction. The framework covers analysis of the customer, product, company and competition.
- 25. BUSINESS MODEL CANVAS $ Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magnİ KEY PARTNERS VALUE PROPOSITIONS Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed dluptatum. CUSTOMER RELATIONSHIPS Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magnİ KEY ACTIVITIES % & ♥ 9 +o Lorem ipsum dolor sit amet, consectetuer adipiscing elit. CUSTOMER SEGMENTS Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magnİ. Lorem ipsum dolor sit amet, consectetuer adip iscing elit, sed dluptatum. Lorem ipsum dolor sit amet, consec tetuer adipiscing elit, sed dluptatum. KEY RESOURCES ) CORE STRUCTURE REVENUE STREAMS Lorem ipsum dolor sit amet, consectetuer adip iscing elit, sed dluptatum. Lorem ipsum dolor sit amet, consec tetuer adipiscing elit, sed dluptatum. CHANNELS * ! ++
- 26. $ Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magnİ KEY PARTNERS VALUE PROPOSITIONS Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed dluptatum. CUSTOMER RELATIONSHIPS Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magnİ KEY ACTIVITIES % & ♥ 9 +o Lorem ipsum dolor sit amet, consectetuer adipiscing elit. CUSTOMER SEGMENTS Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magnİ. Lorem ipsum dolor sit amet, consectetuer adip iscing elit, sed dluptatum. Lorem ipsum dolor sit amet, consec tetuer adipiscing elit, sed dluptatum. KEY RESOURCES ) CORE STRUCTURE REVENUE STREAMS Lorem ipsum dolor sit amet, consectetuer adip iscing elit, sed dluptatum. Lorem ipsum dolor sit amet, consec tetuer adipiscing elit, sed dluptatum. CHANNELS * ! ++ BUSINESS MODEL CANVAS
- 28. , - . / COMPETITION CUSTOMER PRODUCT COMPANY • Segment size and market share • Growth rates • Trend IDENTIFY SEGMENTS • Identify key needs of each segment NEEDS • Identify price points and price elasticity/sensitivity PRICE SENSITIVITY PRODUCT IQ FRAMEWORK
- 29. , - . / COMPETITION CUSTOMERS PRODUCT COMPANY • What's your hypothesis? • What's your unfair advantage to win in the market? UNFAIR ADVANTAGE • How will you reach your end user? DISTRIBUTION CHANNEL • Could you increase differentiation (from a feature perspective)? COMMODITY OR DIFFERENTIABLEPRODUCT IQ FRAMEWORK
- 30. , - . / COMPETITION CUSTOMERS PRODUCT COMPANY • How will you reach your "buyer"? (B2C buyer = user) SALES CHANNEL • In tech, typically suppliers are developers/marketers SUPPLIER POWER PRODUCT IQ FRAMEWORK • Can you build it (tech)? • Can you sell it (market/sales)? CAPABILITIES & EXPERTISE
- 31. , - . / COMPETITION CUSTOMERS PRODUCT COMPANY • Marketshare concentration, monopoly COMPETITIVE RIVALRY • Do we need to worry about new entrants to market? BARRIERS TO ENTRY PRODUCT IQ FRAMEWORK • Can you differentiate yourself based on brand? BRAND LOYALTY & REPLICABLE
- 38. ©2017 ProductIQ. All Rights Reserved. productiq.io productiqLEARN THE BEST. FROM THE BEST. CUSTOMER! PRODUCT" COMPANY# COMPETITION$ Segment size and marketshare, growth rates, trend Identify Segments Identify key needs of each segment Needs Identify price points and price elasticity/ sensitivity Price Sensitivity What's your hypothesis? what's your unfair advantage to win in the market? Unfair Advantage How will you reach your end user? Distribution Channel Could you increase differentiation (from a feature perspective)? Commodity or differentiable Can you build it (tech)? Can you sell it (market/sales)? Capabilities & Expertise How will you reach your "buyer"? B2C buyer = user Sales Channel In tech, typically suppliers are developers/ marketers Supplier Power Marketshare concentration, monopoly Competitive Rivalry Do you need to worry about new entrants? Barriers to Entry Can you differentiate yourself based on brand? Brand Loyalty & Replicable PRODUCT IQ FRAMEWORK
- 39. CUSTOMER! Segment size and marketshare, growth rates, trend Identify Segments Needs What' a Three main segments: 1. Candidate Experience (Job Tracking) 2. Corp. Recruitment (costs employers 1.4 time salary $50K) 3. Retail Recruitment (costs employers 16% of salary ~$4K) New space, so market share and growth rates are difficult to access, but trending up based on investments PRODUCT IQ FRAMEWORK
- 40. Segment size and marketshare, growth rates, trend Identify key needs of each segment Needs Identify price points and price elasticity/ sensitivity Price Sensitivity What' a Ho Could C 3. Retail Recruitment (costs employers 16% of salary ~$4K) New space, so market share and growth rates are difficult to access, but trending up based on investments 1. Candidate Experience (Job Tracking) Save time, better candidate experience 2. Corporate Recruiting Better, faster employees hired 3. Retail/Sales Recruitment Save time - extremely high number of applications for these jobs "It's harder to get a job at McDonalds (6.2% acceptance rate) Than to Get into Harvard (7% acceptance rate)" (Businessweek) PRODUCT IQ FRAMEWORK
- 41. ©2017 ProductIQ. All Rights Reserved. Identify key needs of each segment Identify price points and price elasticity/ sensitivity Price Sensitivity Ho Could C 2. Corporate Recruiting Better, faster employees hired 3. Retail/Sales Recruitment Save time - extremely high number of applications for these jobs "It's harder to get a job at McDonalds (6.2% acceptance rate) Than to Get into Harvard (7% acceptance rate)" (Businessweek) Job Tracking = Moderately sensitive ($$) Corporate Recruiting = Moderately sensitive ($$) Retail Recruiting = very sensitive ($),however, higher volume PRODUCT IQ FRAMEWORK
- 42. CUSTOMER PRODUCT" # ze and marketshare, growth rates, trend dentify Segments Needs What's your hypothesis? what's your unfair advantage to win in the market? Unfair Advantage Distribution Channel Ca H nts: ence (Job Tracking) nt (costs employers 1.4 time salary $50K) nt (costs employers 16% of salary ~$4K) ket share and growth rates are difficult to g up based on investments nce (Job Tracking) didate experience ng ees hired itment - Hypothesis: For sales/customer service jobs facial interaction can be a used as a predictor of job success - IBM Watson tech can quantify facial interactions and provide quantitative measurements, something that previously can only be done by human intuition - Very well suited for the high number of applications received for sales/customer service/retail jobs PRODUCT IQ FRAMEWORK
- 43. ze and marketshare, growth rates, trend ey needs of each segment Needs e points and price elasticity/ sensitivity Price Sensitivity What's your hypothesis? what's your unfair advantage to win in the market? How will you reach your end user? Distribution Channel Could you increase differentiation (from a feature perspective)? Commodity or differentiable Ca H In tech nt (costs employers 16% of salary ~$4K) ket share and growth rates are difficult to g up based on investments nce (Job Tracking) didate experience ng ees hired itment y high number of applications for these jobs b at McDonalds (6.2% acceptance rate) Than to acceptance rate)" (Businessweek) erately sensitive ($$) ng = Moderately sensitive ($$) very sensitive ($),however, higher volume - IBM Watson tech can quantify facial interactions and provide quantitative measurements, something that previously can only be done by human intuition - Very well suited for the high number of applications received for sales/customer service/retail jobs App Store/Web - costs almost nothing to reach billions of users PRODUCT IQ FRAMEWORK
- 44. oductIQ. All Rights Reserved. productiqLEARN THE BEST. FROM THE BEST. ey needs of each segment e points and price elasticity/ sensitivity Price Sensitivity How will you reach your end user? Could you increase differentiation (from a feature perspective)? Commodity or differentiable H In tech ees hired itment y high number of applications for these jobs b at McDonalds (6.2% acceptance rate) Than to acceptance rate)" (Businessweek) erately sensitive ($$) ng = Moderately sensitive ($$) very sensitive ($),however, higher volume App Store/Web - costs almost nothing to reach billions of users Job Tracking = Moderately sensitive ($$) Corporate Recruiting = Moderately sensitive ($$) Retail Recruiting = very sensitive ($),however, higher volume PRODUCT IQ FRAMEWORK
- 45. PRODUCT COMPANY# $ hypothesis? what's your unfair ge to win in the market? nfair Advantage you reach your end user? tribution Channel Can you build it (tech)? Can you sell it (market/sales)? Capabilities & Expertise How will you reach your "buyer"? B2C buyer = user Sales Channel Mar Do you es/customer service jobs facial used as a predictor of job success an quantify facial interactions and provide ements, something that previously can man intuition r the high number of applications received service/retail jobs osts almost nothing to reach billions of - Tech partner is IBM Watson - Leveraging existing Watson APIs - CEO has direct sales experience PRODUCT IQ FRAMEWORK
- 46. hypothesis? what's your unfair ge to win in the market? you reach your end user? tribution Channel crease differentiation (from a ature perspective)? odity or differentiable Can you build it (tech)? Can you sell it (market/sales)? How will you reach your "buyer"? B2C buyer = user Sales Channel In tech, typically suppliers are developers/ marketers Supplier Power Mar Do you Can an quantify facial interactions and provide ements, something that previously can man intuition r the high number of applications received service/retail jobs osts almost nothing to reach billions of erately sensitive ($$) g = Moderately sensitive ($$) ery sensitive ($),however, higher volume - "Buyer" for Knockri would be the store manager/recruiter, where as users are both the store manager and applicants. - If a retailer uses Knockri, all applicants applying to that retailer would have to use the platform which is great for growth. - Tech partner is IBM Watson - Leveraging existing Watson APIs - CEO has direct sales experience PRODUCT IQ FRAMEWORK
- 47. productiqLEARN THE BEST. FROM THE BEST. you reach your end user? crease differentiation (from a ature perspective)? odity or differentiable How will you reach your "buyer"? B2C buyer = user In tech, typically suppliers are developers/ marketers Supplier Power Do you Can osts almost nothing to reach billions of erately sensitive ($$) g = Moderately sensitive ($$) ery sensitive ($),however, higher volume where as users are both the store manager and applicants. - If a retailer uses Knockri, all applicants applying to that retailer would have to use the platform which is great for growth. - Very difficult and expensive to get developers - AI talent is even harder PRODUCT IQ FRAMEWORK
- 48. COMPANY COMPETITION$ uild it (tech)? Can you sell it (market/sales)? abilities & Expertise you reach your "buyer"? Sales Channel Marketshare concentration, monopoly Competitive Rivalry Do you need to worry about new entrants? Barriers to Entry i would be the store manager/recruiter, both the store manager and applicants. nockri, all applicants applying to that M Watson g Watson APIs es experience - Lots of new players coming into the market. - Most have "beta" on their site suggesting industry is in nascent stage. Competitors include: Mya.ai, Tara.ai, Estherbot.ai, recruitment.ai, Olivia.ai - No major saturation in industry, most focused on Segment 1 and 2. PRODUCT IQ FRAMEWORK
- 49. uild it (tech)? Can you sell it (market/sales)? you reach your "buyer"? B2C buyer = user Sales Channel ally suppliers are developers/ marketers Supplier Power Marketshare concentration, monopoly Do you need to worry about new entrants? Barriers to Entry Can you differentiate yourself based on brand? Brand Loyalty & Replicable i would be the store manager/recruiter, both the store manager and applicants. nockri, all applicants applying to that to use the platform which is great for M Watson g Watson APIs es experience xpensive to get developers arder nascent stage. Competitors include: Mya.ai, Tara.ai, Estherbot.ai, recruitment.ai, Olivia.ai - No major saturation in industry, most focused on Segment 1 and 2. - Since the space is new, someone could beat Knockri to market. - In AI, better algorithm is key to better results and algorithm improves with data (as it learns) - Knockri's barrier to entry would significantly improve if they can get a ton of data by getting more users on their platform PRODUCT IQ FRAMEWORK
- 50. productiq.io you reach your "buyer"? B2C buyer = user ally suppliers are developers/ marketers Supplier Power Do you need to worry about new entrants? Can you differentiate yourself based on brand? Brand Loyalty & Replicable both the store manager and applicants. nockri, all applicants applying to that to use the platform which is great for xpensive to get developers arder - In AI, better algorithm is key to better results and algorithm improves with data (as it learns) - Knockri's barrier to entry would significantly improve if they can get a ton of data by getting more users on their platform - No brand loyalty yet as start-up is new, however, partnership with IBM provides credibility. - Additionally, initial customer base (recognizable retailers signed up to try the platform) provides some credibility PRODUCT IQ FRAMEWORK
- 51. ©2017 ProductIQ. All Rights Reserved. productiq.io productiqLEARN THE BEST. FROM THE BEST. CUSTOMER! PRODUCT" COMPANY# COMPETITION$ Segment size and marketshare, growth rates, trend Identify Segments Identify key needs of each segment Needs Identify price points and price elasticity/ sensitivity Price Sensitivity What's your hypothesis? what's your unfair advantage to win in the market? Unfair Advantage How will you reach your end user? Distribution Channel Could you increase differentiation (from a feature perspective)? Commodity or differentiable Can you build it (tech)? Can you sell it (market/sales)? Capabilities & Expertise How will you reach your "buyer"? B2C buyer = user Sales Channel In tech, typically suppliers are developers/ marketers Supplier Power Marketshare concentration, monopoly Competitive Rivalry Do you need to worry about new entrants? Barriers to Entry Can you differentiate yourself based on brand? Brand Loyalty & Replicable Three main segments: 1. Candidate Experience (Job Tracking) 2. Corp. Recruitment (costs employers 1.4 time salary $50K) 3. Retail Recruitment (costs employers 16% of salary ~$4K) New space, so market share and growth rates are difficult to access, but trending up based on investments 1. Candidate Experience (Job Tracking) Save time, better candidate experience 2. Corporate Recruiting Better, faster employees hired 3. Retail/Sales Recruitment Save time - extremely high number of applications for these jobs "It's harder to get a job at McDonalds (6.2% acceptance rate) Than Job Tracking = Moderately sensitive ($$) Corporate Recruiting = Moderately sensitive ($$) Retail Recruiting = very sensitive ($),however, higher volume - Hypothesis: For sales/customer service jobs facial interaction can be a used as a predictor of job success - IBM Watson tech can quantify facial interactions and provide quantitative measurements, something that previously can only be done by human intuition - Very well suited for the high number of applications received for sales/customer service/retail jobs App Store/Web - costs almost nothing to reach billions of users Job Tracking = Moderately sensitive ($$) Corporate Recruiting = Moderately sensitive ($$) Retail Recruiting = very sensitive ($),however, higher volume - "Buyer" for Knockri would be the store manager/recruiter, where as users are both the store manager and applicants. - If a retailer uses Knockri, all applicants applying to that retailer would have to use the platform which is great for growth. - Tech partner is IBM Watson - Leveraging existing Watson APIs - CEO has direct sales experience - Very difficult and expensive to get developers - AI talent is even harder - Lots of new players coming into the market. - Most have "beta" on their site suggesting industry is in nascent stage. Competitors include: Mya.ai, Tara.ai, Estherbot.ai, recruitment.ai, Olivia.ai - No major saturation in industry, most focused on Segment 1 and 2. - Since the space is new, someone could beat Knockri to market. - In AI, better algorithm is key to better results and algorithm improves with data (as it learns) - Knockri's barrier to entry would significantly improve if they can get a ton of data by getting more users on their platform - No brand loyalty yet as start-up is new, however, partnership with IBM provides credibility. - Additionally, initial customer base (recognizable retailers signed up to try the platform) provides some credibility PRODUCT IQ FRAMEWORK
- 53. Early Majority,Innovators, Early Adopters, Late Majority, ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! - 01 - 02 - 03 !
- 54. Late Majority,Innovators, Early Majority, Early Adopters, ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! 01 02 03 $109,000 $71,300 $35,000 !
- 55. Late Majority,Early Majority ters ! ! ! ! ! ! ! ! ! ! 03 $35,000 ! !5B
- 56. Early Majority,Innovators, Early Adopters, Late Majority, ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! -
- 57. It’s not that we forgot to put in that feature, we hadn’t figured out how to do it well, so we didn’t include it at all. JONY IVE
- 59. MINIMUM VIABLE PRODUCT The Minimum Viable Product is the version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.
- 60. & Zero Competition / Competition Most powerful utilities FEATURED APP: å FUNCTION UXã å Many competitors FINANCE CATEGORY: FUNCTION UXå 2
- 61. MVP
- 62. MVP % % % % % % % % % %
- 63. % % % % % % % % % % MVP
- 64. % % % % % % % % % % MVPEExperience
- 65. %%% % % % % % % % MVE
- 66. Hello world. It’s not that we forgot to put in that feature, we hadn’t figured out how to do it well, so we didn’t include it at all. JONY IVE MVE
- 67. productiqLEARN THE BEST. FROM THE BEST. THANK YOU 1www.productiq.io