How to do Product Management!

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Hey 👋,

As a lot of you know that there is always a big debate running to optimize the existing flows or go and build the brand new one.

I’m not an exception to this. I also struggled to a certain extent on this but few mentors, industry leaders, users pain points, product strategy and overall vision helped me to find a way to solve this at scale. 😌(relieved)

There are 4 things which i look at in my product roadmap or solving a problem through product.

  1. Metrics
  2. Data Driven Approach
  3. Root Cause Approach
  4. Analysis

Rather than picking a any other product, let me pick the products i’m working on. Which gives me more context to share with all of you. 🙂

Metrics

The metrics i track are as follows;

  1. No.of bookings
  2. No.of completions
  3. Completed revenue
  4. No.of bookings sponsored
  5. No.of bookings paid
  6. No.of bookings paid brought by sponsored – As of now, tracking only for vaccination. 🙂

Data Driven

Few insights we got from this approach and what we had done from the same, as follows;

  1. We have seen a trend that a lot users are willing to get vaccine for their dependents while they are bookings for themselves and we enhanced this in the booking flow and curated in our Comms as well. (We started tracking Metric 6 from this and it helped us in our Out of pocket revenues as well🙌)
  2. Now we have seen that the current booking flow takes x amount of time(sorry, i can’t disclose it in public) and I’m trying to reduce it by at least 20% by removing the graphics map. (We are trying to do this in coming sprints) – Once it’s live, will track the booking time as a metric as well (You will understand why i’m including metrics here as you read this)
  3. We now realized that very few users who left their booking process are coming back to book again. (Solution: To increase this number, we are going to send a push after 15sec if app goes in background and wait for 15mins and check again if not then send 1 push & 1 email and the CTA link will resume the user booking and they no need to start from scratch again) – This will go live in the next quarter and we track No.of resumed bookings as a metric. You will understand in a minute, why i’m including metrics again

Root Cause Approach

This is something interesting, in the peak of vaccinations, at few centers we weren’t getting many bookings. Initially, we tried pushing more to all of our users and specifically for those whose last known city falls in that locations.

Later one yielded us with few increase in bookings to certain extent but we tried to dig little deeper by doing some guesstimations and geographical breakdown of users then got to know that our supply is slightly higher than the max demand we can get at these centers.

This is something all the stake holders or the exclusive team can brainstorm and get the most acceptable solutions and decisions.

Brainstorming is the key and the scalability is also super high. So, one can rely on this. 👍

Analysis

We obsessively analyze all of these user journeys, flows, UI, CTAs…etc to help our users finish their needs seamlessly.

And we do this in a loop. So, we keep analyzing & take this data driven approach to get the right set of insights and build from those. Measure again on what we built, iterate from the outcomes and keep repeating at will, this will happen as a wheel. 🙂

Hope you got now, why i was including the metrics part in the Data Driven step.

Because, all of these are interlinked in some or the other way.

That’s all for the day!

Let me know if you need any help in setting up the metrics or prioritizing your features. You know where to hit me [email protected]

This is me, signing off!

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