Archive for the ‘Guides’ Category

If you’re a product owner, associate product manager or product manager wanting to understand the full breadth of the product manager role, I’ve put together a generic product manager job description, so that gap analysis can be done to learn and gain experience in your knowledge gaps, which will set you up for success in the world of product management.

It’s unlikely that you will be provided with guidance or training on the full breadth of the product manager role and it’s up to you to proactively fill in your knowledge gap by testing and learning new ways of working with your product, reading books and being curious by collaborating with different areas of the business to find out more about the customer, their role and product performance.

About the role:

The Product Manager will join the product management team and take the pivotal role of managing their product line and its outcome on the customer and business.

The candidate will manage the entire product life-cycle across their product line to solve customer and/or business problems using Agile and Lean principles, by collaborating with their cross-functional team (which also includes a product designer and several engineers), as well as key stakeholders including other product managers across other product lines, BI, commercial, operations, marketing, brand, customer support and legal / compliance teams – the Product Manager is at the heart of the business, so building strong relationships and having good communication skills is important.

The Product Manager is expected to:

  • Define, manage and share the vision, missions, KPI’s, strategies and roadmap for their product line.
  • Own and manage the product backlog, so that the highest priority PBI’s are ready to be solved / validated with a PRD / hypothesis.
  • Manage all aspects of in-life products for their product line, including customer feedback, requirements, and issues.
  • Proactively collect and analyse qualitative and quantitative data to aid prioritisation and to explain why the problem is worth solving.
  • Have a deep understanding of customers by talking to customers and customer support frequently.
  • Collaborate with marketing to continually grow the product.
  • Discover new ideas / problems in collaboration with stakeholders.
  • Drive action across the business to get time sensitive product iterations to market on time.
  • Review how time to market can be reduced across their product line using Lean principles.
  • Manage stakeholder expectations when there are multiple constraints.
  • Adapt to change quickly and creatively find ways to validate ideas with customers in a Lean way.
  • Proactively remove any impediments from getting the value from idea to the customer.
  • Clearly describe what problem we need to solve, the value and customer flows to the development teams and stakeholders.
  • Dynamically switch from live support / BAU to long term strategy on a day-to-day basis.
  • Monitor product performance daily and communicate wins across the business.
  • Monitor and research the market to understand competitor SWOT.
  • Present product performance to senior stakeholders quarterly.
  • Create and share a product delivery update every two weeks.
  • Be the player and use the product frequently including user acceptance testing.
  • Line manage and mentor associate product managers.

Overall

  • Embracing their product line knowledge and effectively sharing with other team members and stakeholders.
  • Evangelising their product.
  • Striving to make progress towards their KPI goals everyday.
  • Leading the go to market (GTM) strategy within Agile methodologies.
  • Focusing on outcomes rather than outputs.
  • Accountable for the success of their product line.

Position Qualification & Experience Requirements

  • Passionate about solving customer problems.
  • Proactive with stakeholder engagement.
  • Proven track record of managing all aspects of a successful product.
  • Strong time management and organisational skills.
  • Experience with Scrum, Kanban and Lean principles and methods.
  • Strong problem solving skills and willingness to roll up one’s sleeves to get the job done.
  • Will give exemplary attention to detail and have excellent communication skills.
  • Is creative with an analytical approach and can easily switch between creative and analytical work.
  • Outgoing, positive and forward thinking.
  • Excellent communicator of product updates, trends, priority and the rationale behind them.
  • Have an obsession with creating great products with your team that customers love.
  • Has a high EQ.
  • Become the voice of the customer – be an expert on quantitative and qualitative insights.
  • Experience with tools such as Tableau, Aha!, Google Analytics, Mixpanel, Jira, Confluence, Lucidchart, Firebase or other equivalent tools.

This is the best book I’ve read on #Lean.

The #LeanStartup and The Startup Way by Eric Ries were also great reads, but this book by Cindy Alvarez is a condensed version of both of them with practical step by step guides on execution, where no gaps are left when it comes to understanding how you can build products in an efficient way that customes will buy.

Whether you’re in a large enterprise with existing products or a startup, Cindy provides great examples of the benefits of using Lean principles to streamline your product development process in order to deliver more value.

This book is for:

  • Product managers, designers, and engineers who want to increase the chances of building a successful new product or new feature
  • Product-centric people in large organisations who are struggling to help their organisations move faster and work smarter
  • Entrepreneurs seeking to validate a market and product idea before they invest time and money building a product that no one will buy

Since the pandemic has caused more people to install webcams and with innovative solutions like UserZoom and Lookback to connect, it makes it easier more than ever to validate hypothesis and speak to your customers weekly to gain valuable insights.

Bubble: Bitcoin (Crypto) becoming a mainstream payment method and that Crypto is decentralised.

Revolution: Private blockchains used to improve supply chain efficiency for businesses and Crypto being a viable investment, as well as used as a payment method for large/international transactions.

Walmart used IBM’s Food Trust private blockchain to improve the efficiency of their supply chain making over a hundred thousand-fold speed improvement from farm to Walmart. Microsoft with the Xbox also made significant efficiency gains by implementing the same private blockchain strategy to improve the royalty settlement and new publisher flows.

Microsoft Azure, Amazon Web Services, Oracle, Google Cloud and IBM already offer private blockchain solutions.

Zynga, Etsy, Microsoft, Burger King, KFC, Virgin, Expedia and many others already accept Bitcoin payments.

The stock exchange industry could save $20 billion from blockchain-based clearing.

There is 1 in 66 billion trillion chance of someone mining a block (which is used to validate transactions and receive a Bitcoin reward for their effort).

Whilst only 21 million Bitcoins will ever be available (3 million left to mine), each Bitcoin is equal to 100 million Satoshis, with a Satoshi being the minimum amount you can exchange, making it an investment for everyone.

To verify a single Bitcoin transaction uses enough electricity to power an average household for 22 days and generates the same carbon footprint as over 750,000 Visa transactions.

In order to mine, you need a mining farm (a set of super computers) which are primarily owned by a small group of people that are employed and funded by a single company. Also China owns 80% of the market for Bitcoin mining hardware which is being integrated with the monetary system, adopted by banks, and regulated by governments…so not so decentralised.

Bitcoin can only process about 3 transactions per second, Ethereum 15 per second and Visa 45,000 per second.

To send $10 from US to Indonesia it’s impossible via bank transfer, costs $30 via UPS and only costs $1 via Bitcoin. To send $10k the fee is $400 via bank transfer, $150 via UPS and still only $1 via Bitcoin. In fact, it would still be just $1 fee via Bitcoin if you was to send $10m whereas the fee via bank transfer would be $400k.

Crypto exchanges already support KYC and AML regulations, making it  ready for iGaming and other highly regulated industries.

“The two biggest use cases for crypto going forwards will be payment methods (primarily for large or international transfers) and investments (supplementing, but not replacing, stocks and bonds).”

In this book, Neel Mehta, 🚀 Adi Agashe and 📍 Parth Detroja break down this highly complex set of tech into a digestible, balanced and comprehensive guide, which I’d recommend to anyone who doesn’t know about the benefits, challenges and future of blockchain and cryptocurrencies.

Lastly it was nice to hear that the creator (Satoshi) of this innovative tech is a fellow Brit.

Strategy

VMOST = Vision, Missions, Objectives, Strategies and Tactics

Each product should have a clearly defined product vision, KPIs and strategies if it’s expected for the development team to deliver outcomes/head in the right direction, and using the VMOST canvas is an effective way of showcasing what these are in a clear and concise format.

VMOST example

Vision: A passionate and exciting statement which typically should only be one sentence, where in a nutshell it should explain what your ambition is/what is your end goal of the product and who it’s for. More info on creating a compelling product vision can be found here.

Missions: In order to achieve the product vision, there would be multiple high-level missions you need to go on – what are the biggest problems which need solving before achieving the vision.

Objectives (KPIs): You can track progress of your missions through setting multiple objectives (aka KPIs), which would include metrics which are measurable.

Strategies: Initiatives which would deliver/impact the objectives (KPIs).

Tactics: Multiple ideas (Epics) which would deliver each strategy. The tactics should be laid out on the product roadmap, so there’s a nice link between the product VMOST and product roadmap.

Although the product manager is responsible for defining and owning the product VMOST, it’s important that it doesn’t happen in silo, as it takes collaboration with the rest of the business especially stakeholders/data/customers/tech to help provide some guidance on the selection of problems to solve which would be represented on the VMOST.

Once the VMOST is ready, it’s time for the product manager to showcase this in a passionate way across the business and perhaps print it out on A0 to sit near the dev team on the wall, so it can always be top of mind.

Good luck in creating your VMOST!!

Less

LeSS (Large Scale Scrum) is an agile framework for 3-8 Scrum teams, but when there’s more than 8 Scrum teams it’s time to think about adopting LeSS Huge. So let’s look at the differences.

LeSS
LeSS is a scaled up version of one-team Scrum, and it maintains many of the practices and ideas of one-team Scrum. In LeSS, you will find:

In LeSS all Teams are in a common sprint to deliver a common shippable product, every sprint.

LeSS Huge

Less-huge

What’s the same as the smaller LeSS Framework:

  • One (overall) Product Backlog
  • One Definition of Done
  • One Definition of Ready
  • One (overall) Senior/Lead Product Manager
  • One Sprint

So what’s Different?

  • Area Product Managers
  • Area Product Backlogs
  • Area Product Vision
  • Set of parallel meetings per Area

It’s important to remember that these frameworks are just guides and every business has their own org structure, so it’s completely acceptable to mould a framework to suit the organisational structure and industry sector.

Pipeline

With a long list of ideas / problems (features) to solve, there needs to be a solid view of exactly where features are in the idea to customer flow, so that anyone can view the status of a feature anytime without constantly asking.

Having a ‘feature pipeline’ report also proves helpful when providing stakeholder monthly / quarterly product updates.

A feature pipeline typically has multiple columns similar to a Kanban view, but it’s important to keep the content at a high- level (feature / epic) rather than stories.

Pipeline

Example Feature Pipeline Format

Some of the columns you’d have on a Feature Pipeline would be:

  1. ‘Idea’: which would be a long list of features sorted by value
  2. To Be T-Shirt Sized‘ (WIP 5): top 5 highest value features move over to a sizing column – in order for the idea to be prioritised on the product roadmap you need a rough size. It’s recommended to have a WIP (work in progress) limit
  3. Capacity Planning‘: once the feature has been roughly sized, it’s then possible to analyse when the feature can be worked on based on capacity and priority (value vs. effort (t-shirt size))
  4. Delivery Quarter‘: based on the capacity planner which should drive the start and end dates of features on the product roadmap, what quarter does the feature planned to be delivered in

There are plenty of tools available to visualise your feature pipeline eg. Aha! and JIRA and it’s a good idea to compliment that with a guide which includes SLAs for each stage of the pipeline and a t-shirt size mapping, so it’s clear what a ‘Small’ or ‘Large’ is for example.

Having a Feature Pipeline in your product toolkit for everyone to access when they want will help ensure that high priority ideas get to customers in a timely and transparent way.

Gap analysis

A Product Manager creating and maintaining documentation for new and existing features is just as important as those who maintain documentation in other roles especially developers.

Whether you use Confluence or other documentation software, having documentation makes it easy to provide context and clarity around the importance of getting after a particular feature whether it’s to the development teams or stakeholders.

When a new feature / problem / idea has cropped up, it becomes very useful to start documenting elements before any development effort is spent creating user stories or getting Product Backlog Items (PBIs) in a ‘ready‘ state. The key elements being:

  • One line description about what the feature is
  • Tagging in contacts eg. Product Manager, Technical Architect, Scrum Master, Stakeholders etc
  • Problem / Value including metrics / data
  • High-level requirements
  • As Is‘ and ‘To Be‘ flows which indicates where the gaps are
  • Competitor analysis if relevant
  • Actions / Next Steps
  • Technical details
  • Identifying and Tagging in dependencies

Having ‘As Is’ (Current State) and ‘To Be’ (Desired State) flows is a great way of clearly identifying where the gaps are, where you need to get to, what your competitors are doing in addition and what you need to do to get to your desired state. Having requirements visualised in this way also provides clarity of what you’re looking to achieve and becomes an easy way to digest and collaborate on the requirements vs. a long list of written requirements.

Spending time documenting the analysis of the idea / problem will help get the idea to a customer as efficiently as possible, providing clarity to the stakeholders and developers as to the ‘what‘ and ‘why‘.

With facilitating processes and tasks at the heart of the Scrum Master role, it requires someone with a proactive, helpful, motivated, can do, kind, organised and supportive mindset in order for requirements to be solved in an efficient way in the right priority order.

With the Product Manager, Developers, QAs, Technical Architect and Stakeholders all focused on getting their job done where there are clear boundaries, it needs someone to fill any missing gaps or connect them together in order to get the job done, which is where the Scrum Master comes in.

Let’s look at a day in the life of a Scrum Master:

Scrum master

Done

Once the product backlog is in a good quality condition and the product backlog items (PBIs) start moving into development, there’s a significant amount of tasks to tick off before the feature can be marked as ‘done’ and therefore ready to ship.

Typically a development team would use a ‘definition of done’ (DoD) as a reference to ensure that none of the processes get missed off before it’s ‘done’, as each of those processes are essential and could have considerable consequences for the business and customers if it’s not done.

Some examples of what could be in a definition of done:

  • Code is reviewed by someone who didn’t do the PBI
  • Code is deployed to test environment
  • Feature is tested against acceptance criteria
  • Feature passes regression testing
  • Feature passes smoke test
  • Feature is documented
  • Feature has analytics tracking
  • Feature approved by UX designer / stakeholder
  • Feature approved by Product Manager

Missing any of the DoD processes before a feature gets delivered to a customer could result in critical bugs across the feature, causing bugs across other features in the code, bring down the product or delivering the wrong requirement, so it’s essential to take the definition of done seriously even if it means taking the PBI over to the next sprint resulting in potentially not meeting a sprint goal.

Once you’ve created a solid Product Vision, it’s likely you’ll be asked to provide more granular details on the ‘what’ and ‘when’ and the Product Roadmap is a great way of helping you answer that.

The product roadmap is also a good way of giving the development teams an idea of the exciting upcoming features / problems to solve for the product.

Key points of a Product Roadmap:

  • It should be at a high level eg. Epic, feature or iteration level – Epic level is a preference as then it maps nicely to the product backlog items (PBI)
  • It needs to include dates spanning the next twelve months whether monthly or quarterly
  • The bars on the chart show when items start and when the development will be complete (live hidden)
  • One of the most important things is to educate development teams and stakeholders that the drop dates are an intent (not commitment) of focus / delivery and that things can and will likely change, so it’s advisable to avoid spending significant amounts of time making each item exact, as the desire from the business would be to have a rough idea of the twelve month view rather than knowing whether something starting in six months time will be delivered exactly a month later than that for example
  • The roadmap needs to be easily accessible by anyone in the business where they can use their network login and can also access it from outside the office eg. on the train – if it’s hard to access, people just won’t view it and assume there’s no plan
  • It needs to be updated frequently – if it’s regularly out of date, again people just won’t access it

Product Roadmap examples

Roadmap sample 1

Roadmap sample 2

The most important thing about the Product Roadmap is to always provide a sign of intent for when product items will be delivered over the next twelve months, with the key word being ‘intent’ here ie. Not exact drop dead delivery date and a couple of people with experience of productivity could use gut feel which is totally acceptable, rather than dragging developers away for days on end to roughly size big pieces of work which will either 1. Change anyway and 2. Be extremely inaccurate as unknowns result in estimates going through the roof.

A sign of intent for the next twelve months for the product is also better than a half empty roadmap!

Vision

It’s worth spending time coming up with a compelling vision statement, because it’s something which will be repeated over and over again as it’s the key driver to drum up excitement, passion, investment, confidence and trust that the product end goal is rather spectacular, solving the big problems and then in turn delivering huge value for the business and customers.

First things first, craft your vision statement which should only be one clear sentence, where in a nutshell it should explain what you’re looking to deliver, to who and why giving off a wow factor:

Vision statement

Then create a product vision board specifying who the target market is for your product, problems the product solves, clarifying what the product is and how the product is going to benefit the business and customers:

Vision board

Lastly, having a vision diagram is a great way of providing stakeholders and the business with a snapshot using one image of where you’re at with the product and where you’re heading. Having colour coding for ‘live’, ‘in progress’, ‘planned’ and ‘to do’ would cover it – there are plenty of mind map tools to help you visualise your product, one of which is Lucidchart which comes as a plugin for Confluence also. It’s important to keep the product diagram focused on high level features rather than detailed technical solutions around systems as that would be more of a technical architectural diagram:

Vision diagram

Having a solid product vision isn’t just to help the business allocate resource, but it’s also essential for the developers to know exactly where they need to head and why.

The Product Group London

If you’re a Product Owner or Product Manager and would like to participate in a variety of interesting product focused discussions, then The Product Group London is for you.

It’s also an opportunity to meet, interact and network with those in a similar role who solve similar problems and have similar challenges.

At the monthly meetups there’s normally a topic of the night and a featured product which gets discussed. For example, the July 2018 agenda was:

  1. Topic of the Night: Developing the role of product management – how do you develop the role of product management in organisations that either (1) have no formal product function, (2) have a product function that is not realising its potential, or (3) have a well-established function and need to develop it to the next level?
  2. Featured Product: Clear Review – Stuart Hearn, Founder & CEO

You can also:

Conversion1

Neil’s Recruitment have recently posted a fantastic Paid Search resource guide for grads, 1st / 2nd jobbers and those who are keen to know more about the ins and outs of paid search advertising.

The Paid Search guide which can be accessed here includes:

  • The conversion funnel
  • What is paid search aka PPC & where does it fit in
  • Basics
  • Free training webinar
  • Blogs & trade press
  • Things to research / understand
  • Glossary

It’s good to see recruitment companies like this going the extra mile to educate those who are new to digital advertising, which also clearly shows they themselves have a deep understanding on the subject.

Resource guide
Neil’s Recruitment have come up with some handy tips for writing your cover letter, honing your CV and helping you stand out in an interview:

NRC_RTB_V1-2

Neil’s Recruitment have recently posted a fantastic RTB resource guide for grads, 1st / 2nd jobbers and those who are keen to know more about what RTB is along with all those other 3 letter acronyms.

The RTB guide which can be accessed here includes:

  • What is RTB
  • Free training webinar
  • Blogs and trade press
  • Things to research/understand
  • Excel tips
  • Maths practice
  • Glossary

It’s good to see recruitment companies like this going the extra mile to educate those who are new to digital advertising, which also clearly shows they themselves have a deep understanding on the subject.

20130716

With such huge global reach and engaging ad formats, Facebook has now become a very powerful CRM tool.

Similar to display CRM, this activity would usually fall under the programmatic buying team. When thinking about what strategies to setup, it’s always good to discuss them first with the central CRM team.

Facebook CRM should run across both Facebook Marketplace and FBX. You can still use a consistant strategy structure which would be in line with display – remarketing site visitors who didn’t get passed the first conversion step, remarketing those who drop off during the conversion process and remarketing those who have converted (current customers).

For FB Marketplace you will need to rely on the CRM team heavily to provide an up to date list of email addresses by segment / strategy as targeting is by email addess (custom audience targeting). This can then be used for including / excluding at time of strategy setup. As well as targeting by email you can also target your existing FB fan base within Marketplace. The good thing about CRM across FB Marketplace is that you can deliver ads across all formats including mobile install ads.

For FBX, this is all cookie based so you can mirror the display setup 1-1. You can only deliver basic ads across the news feed and ASUs for FBX.

When it comes to post click performance, all clients will notice a dramatic improvement vs. display CRM (+250% CTR and +350% click to pixel / conversion event) but for CRM campaigns it’s all about having up to date bespoke creative, a reasonable freq. cap and bid to match the segment. Also it’s essential to have exposure across as many channels as possible for CRM and all of this is a priority over performance.

image

Using a DSP on a self service basis lets you set your own rules and strategy structure therefore site remarketing strategies should be completely separate from prospecting. It’s essential to separate them as the KPIs and strategy between prospecting and CRM are so different (similar to brand and generic search) – it’s a classic way of how a lot of ad networks used to over represent the real prospecting display results by including remarketing strategies within prospecting campaign results.

From remarketing site visitors who have bounced, to remarketing high value customers, the set-up should be bespoke to the segment. The further you get in the user journey, the less cookies there will be allowing you to be able to afford to be more aggressive as there’s less risk of budget getting out of control, also the further your customers get in the journey, the more you want to keep them (as their value increases):

Let’s start with remarketing people who have visited but not registered their details – a tight frequency should be implemented and reasonably low CPM.

Dependent on your user journey you should then split out your remarketing strategies by segment (which should all be list in your cookie CRM database) eg. Age, gender, country, product, user level – as the segment becomes more valuable to your business, the frequency cap should be loosened and CPM increased.

As well as the media strategies, the likes of creative and ongoing promotions are crucial for success in this area – it’s not going to help serving your high value customers banners telling them to sign up again or promote an out of date offer. A reminder of what’s currently available, what’s just launched, cross sell, RAF, special offers and what’s coming soon are the basics.

Remember, the harder you work on CRM and generally looking after your customers to avoid them leaving, the more you can afford to pay for new customers which has a positive effect on the incremental volume you can drive (referring to the classic volume price curve).