Growth hacking · Product management

What are the top three areas which can help drive product growth?

Nishith Gupta

October 20th, 2016

Hey folks, based on your experience what are the three areas where a product should focus on to try multiple hacks and solutions which can help drive growth. 

From my experience, I will vote for following - UX, Feature enhancements & Content
Growth-hacking isn’t about quick wins and shortcuts, although they exist. In this course, we’ll cover the six-step growth hacking framework, how to measure user retention for your business, how to increase engagement and retention, and a bunch of case studies.

Valeriia Timokhina Eastern Peak Software: Custom software development

October 24th, 2016

Good UX and regular features updates are extremely important for high user engagement. From my experience marketing is an essential component of successful development strategy. Marketing campaign improves user engagement and increases awareness about your product. And in this area you should always look for new ways to tell the world about your product. People get tired of the annoying adds you have to find a way to reach your target customer and solve his or her problem without being irritating.
As Seth Godin told - marketers are always in search for "Purple cow" -the advantage over competitors.
In my sphere, app development such advantage may be a unique design (examples) or an innovative idea like social entrepreneurship (eLearning and eHealth). However, you should know how to represent it to your target audience and here marketing comes in handy.

Nishith Gupta

October 24th, 2016

Thanks all. I was mainly looking from tactical stuff perspective which Valeriia got to some extent.

Customer experience, customer service and other functions are of utmost importance to drive product growth but those are strategic in nature. It needs to be executed using tactical components like UX, Content per se. So what are tactical areas that helps in growth of product?

Dane Madsen Chief Operating Officer at Comivo, LLC

October 21st, 2016

1) Customer experience. 2) customer support. 3) customer engagement. Yes - I am customer centric. Dane Madsen Dane@DaneMadsen.com 206.900.5852 Mobile Sent from my mobile device. Forgive typographical and grammatical errors.

Saravjit Singh Independent Consultant and Trainer

October 20th, 2016

Three areas to focus on
  1. Select niche and create product based on values desired by customers in this niche
  2. Design and implement pre sales, point of sale and after-sale service - ensuring that each touch point adds value to the end customer
  3. Use social media to direct ads at the niche customers - do not waste money on carpet bombing promotion

Tom Duffy

October 22nd, 2016

solution equals pain solution is easy to execute for the client 

Jorge Lopez CFO & Chief Strategy Officer, Cofounder at ConquerX - MassChallenge Finalist | altMBA | Mentor @MIT Global Entrepreneurs

November 10th, 2016

Hey Nishith,

 

For a great product growth hacking strategy, there are 2 main concepts you should master them.

 

Windows of Opportunity (WoO)

A time when your target end user, economic buyer, champion, or influencer will be particularly open to considering your offering, Examples:

       Holiday Season


       End of Fiscal Year or Beginning; Budgeting Cycle


       Life Transitions


       Change in Leadership


       Crisis


Triggers

Within the WoO, a specific action you take to create an urgency/strong incentive for the target customer to act, Examples:


       Discount


       Limited supply


       Time bounded


       Community


       Avoid disaster

 

In order to be effective driving these 2 concepts first you must have a perfect understanding how your customers acquire your product these are the Decision Making Unit (DMU) and Decision Making Process (DMP). PM me if you need more information on these topics.