Posts Tagged ‘Product’

ScrumCards

A self-organised development team working together successfully to achieve common goals within the sprint boundary (typically every two weeks) is only possible if the teams ceremonies are done which includes:

  1. Daily stand-up – the scrum team need to meetup daily on time to discuss what they did yesterday, what they’re planning to do today, highlight any dependencies, issues or help they might need
  2. Updating the scrum board daily – whether the source of truth is the physical board or a digital version eg. JIRA, the scrum board needs to reflect the current state of play with regards to the sprint progress, so the team can understand how they’re progressing with their sprint commitments and sprint goals
  3. Regular backlog grooming sessions – in order for the development team to be able to work on the highest priority PBIs (Product Backlog Items) in the next sprint, they need to ensure they meet up regularly in order to get at least the next three sprints highest priority backlog items in a ‘ready‘ state
  4. Roughly sizing the backlog – in order to predict when customers will receive tweaks to the product, it’s important that the product backlog is roughly sized to aid delivery ETAs, but also prioritisation
  5. Retrospectives – meeting up once a sprint to discuss what could have gone better in the last sprint, what went well and what to continue doing. The format is flexible and the most important thing to do at the start of any retrospective is to focus on actions front the last retrospective – unless actions are done (the team learns), retrospectives are pointless, so it’s absolutely crucial that the things which the teams are keen to change / improve on is actioned or tried at least.
  6. Sprint review – showcasing what awesome iterations the team has been working on to get feedback and a round of applause from stakeholders

In order for the scrum team to be able to fulfill their commitments they should be getting significant help, guidance and support from the Scrum Master or Team Lead, Product Owner and the Development Manager and only once the above points (basics) are being done well, can a team start to seriously look to improve their velocity and scale successfully.

CompetitorAnalysis

Whilst it’s important to keep an eye on what your competitors are up to, it certainly shouldn’t be in the bucket of tasks to obsess about and instead competitor analysis should be part and parcel of problem solving.

Whether research suggests a specific type of financial product should be launched, a specific mobile payment method is needed, refer a friend rebrand, registration flow optimised or customer support improvements, part of the discovery phase when looking at solutions should be analysing how other companies have solved the problem (including competitors), which would give a wide range of interesting ideas to consider.

It’s equally important to not simply copy what competitors do, but instead have a vision and ambition to deliver a next generation solution leapfrogging the competition.

An important time to analyse other companies approach to a solution especially competitors is their approach to new regulatory requirements, especially as some of the guidelines are so ambiguous and taking a risk approach to some regulatory requirements comes with potential consequences, but equally come with an avoidance of revenue loss and it’s important to remember that implementing regulatory requirements isn’t cheap not to mention the opportunity cost. An example is that if the likes of Vodafone, British Gas, PokerStars, Llyods or Apple have deployed a relatively high risk approach to certain regulations, then it’s safe to say that using their solutions as a guide would be sensible. If the regulation is industry specific then using the market leader could be a good base also.

If you’re one to obsess about competitors or tend to replicate what they do, the next time you have a big change to make or problem to solve, try ignoring that any competitors exist, ignore all current technical limitations giving the development teams a blank canvas to focus on solving the real clear problem at hand and you might be blown away at the creative thinking that the development teams and UX come up with, utilising the wide variety of new technology available which surpasses anything your competitors have got live or on their product roadmap.

Kpi

In order to prioritise effectively you need both the projected value and effort, but these aren’t always easy to come by. Projecting value can be particularly challenging if the data isn’t easily accessible which can have a knock on effect when analysing your KPIs (Key Performance Indicators).

Ensuring that a product / feature have KPIs is beneficial for a few reasons including: Aiding prioritisation, celebrating success, feeding back on software development iterations and to feed into the general product vision and wider business goals.

Your KPIs don’t have to be a financial value (although a good attempt at projecting a monetary value should be made to aid ROI projections) or just one KPI, but they just need to be measurable, an indication of success and for them to be linked in someway to the overall business goals, so how can you identify what your KPIs are:

  • Incremental revenue – benchmarking on existing revenue volumes for the relevant feature in question. What do you anticipate increasing the revenue / ARPU by
  • How many customer queries are you hoping to reduce and how much does it cost per contact
  • Is it solving a common problem / request that high value players have been submitting
  • Will solving the problem increase website stability, reducing downtime for customers
  • Are you expecting to increase customer acquisition numbers / conversion rate
  • Will it increase retention rates – a measure of this is churn rate / drop off as well as LTV
  • Efficiency savings – by completing a piece of work could it increase team output / Velocity whether it be development or a marketing team
  • Feature traffic / usage – if conversions or direct revenue from the feature isn’t relevant then at a minimum having sessions, dwell time and value of customers using the feature can be used as a KPI

    Identifying your KPIs is one thing, but having the data available at your disposal on a self-service basis to cut, analyse and share is naturally fundamental, but once you have identified your KPIs and have access to the data, you can be confident that you’re well equipped to contribute to the Agile piece, but also your helping meet the wider business goals.

    With marketing departments typically focusing on P&L / ROI of ad campaigns and product development on product quality, product feature enhancements / performance and customer UX, it’s easy for the two business areas to be fragmented which could make the end goal harder to reach.

    Ironically although the individual department goals for both are normally so separate and different, the most common problems they face can sometimes be solved by the other eg. Acquisition marketing unable to increase incremental volume because the CPA / ROI / ARPU of the additional media spend doesn’t look healthy, yet fixing some bugs around the product feature in question, a feature enhancement or a new product release is likely to contribute to the solution that allows a raft of new customers through the door efficiently. Vice versa, a new shiny product or feature where the target audience is so niche that acquisition marketing efficiency / volume is poor or it’s unlikely existing customers will benefit, then it’ll be an uphill struggle to make the product viable.

    Fortunately the majority of brands have both of these areas in-house so it does make optimising the relationships and responsibilities easier. Naturally one area cannot exist without the other even when you look at brands like Google and Facebook who have groundbreaking products, yet still require nicely crafted ad campaigns to generate incremental revenue.

    Product developers don’t bite and marketers don’t just care about ad campaign performance, so close collaboration which is vital can be achieved by letting down a shield and discussing problems openly and bravely, so that multiple solutions can be discussed and you never know, the problem you thought was a tough problem to solve, may not be so tough anymore.

    Again, close collaboration is key and potentially another way of aiding / fast tracking an improved relationship is by recruiting a marketer or two into the product development arena or vice versa.

    The two departments working collaboratively to solve problems could lead to some spectacular chemistry.

    satisfied_customers

    No matter how much marketing you deliver, whether it’s billions of banners on the most premium sites in the world or you’re top of key generics consistently for Google, unless you have a stable product offering which customers genuinely embrace, then your brand has a fairly bleak future.

    Historically you could spend your way out of a crisis, but now if your site crashes often, you hide key T&Cs, mis-sell promotions, have a complex user journey, product not available on multiple devices, then in a few years time your brand value will show a clear decline which would eventually kill your business unless you adapt fast.

    I think the below video demonstrates the future in a fantastic way and how consumers will shape products, businesses and communication. The good thing about the future is that it will kill a lot of cow boys who are short sited and have no long term business strategy.