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Essential product management skills
How to work effectively with cross-functional teams
How to identify and prioritize customer needs
Ensure to Have a Product-Market Fit
A product-market fit gives you a sense of how ready your product is for the market. It's a measure of revenue against the payback period and shows the percentage of users who value your product over a period of time.
When you have a product-market fit, you can:
- Scale your company
- Spend money on growth
- Be confident in your financial modelling
- Be confident in your retention models.
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Retention Can Make or Break a Business
Retention measures how long your customer stays actively engaged with your product or business.
The two key retention metrics are:
- Core retention: The total number of active users after a specific time period.
- Proxy retention
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How to Develop Measurable Cohorts
A cohort is a group of users who experience the product value at about the same time.
- Look at users for a month. The first month is Month Zero. All the users that experience the product in Month Zero is your cohort.
- Track the behaviour of each...
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How to Built Retention Metrics
- Have enough tooling to track signups on a cohort basis, such as Google Analytics, Google Analytics 360, Segment, Mixpanel, or Amplitude.
- Know your proxy metric. What action is the user performing? (consuming content, a download, a daily active user?)...
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Four Key Factors that Impact Retention
Focus on new users and the initial experiences they have with your product.
To create a great first impression:
- Run experiments on user onboarding.
- Personalise your sales process.
- Incorporate feedback loops.
Target better user...
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Building a Retention Chart
The Activation Curve shows the number of users activated over a specific period of time.
Many early-stage companies have bad retention at the start. They can get customers in but haven't figured out the mechanics to keep them around. When the metrics start to improve over time, you ...
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2. Product-Market Fit
During this stage you validate the assumptions underlying your value proposition, and discover what customers really care about. This is a long and iterative process.
Product-market fit happens when you have evidence that your product is creating va...
What the term "product market fit" describes?
”The moment when a startup finally finds a widespread set of customers that resonate with its product.” Eric Ries
”You know you have fit if your product grows exponentially with no marketing. That is only possible if you have huge word of mouth. Word of mouth is onl...
Types of Niche Market
While you might have specific trending product ideas already in mind, you can increase your odds of success by starting with a niche market and then drilling down to find niche products with a possible market-fit.
These are currents niche market trends around Worldwide which has seen rising...
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