The world of product development is changing rapidly. Twenty years ago, “online” was a new acquisition channel. But today, online is the product. And all companies are turning into digital product businesses.
However, the fact that software is eating the world shouldn’t be surprising to anyone reading this. But how quickly it’s happening might be: over half of all Fortune 500 companies since 2000 no longer exist.
The world of analytics is full of red herrings and false paths.
When there’s so much data to work with, it’s easy to get careless and assume that the numbers right under your nose are always telling you the truth: Continue reading
Mental models are frameworks we use to make decisions, explain things, or think about the world. We use them subconsciously and many have become reflexive to our everyday lives. If you’ve ever made a pros/cons list, considered the opportunity cost of a situation or taken an action based on FOMO, you’ve applied a mental model.
We’ve written about confirmation bias, an important one for product managers to keep watch for, yet there are hundreds of less commonly applied mental models we can use to deliberately frame our thought processes. When you apply mental models as a deliberate thought tool, not just a reflex, they can help you explore illuminating paths to better decisions.
This is a guest post from Al Harnisch from Prolific Interactive, an Amplitude Solutions Partner.
As the native mobile space matures, the biggest app-related issue brands face has shifted from UX and backend infrastructure to growth and monetization. Brands are learning that launching a proper native app is a great first step, but only a starting point. There’s so much more road to travel, much more product development needed, and this is where brands often get tripped up.
For a native app to drive sustainable value for a company, growth techniques must be top-of-mind for the product team from day one. If you wait until launch to invite marketing into the conversation then you’re already months behind, and the executives are impatiently waiting to see their mobile ROI. This post explains how to incorporate growth thinking and action into each major phase of product development.
Establishing a monopoly — near-total domination of a market — may seem like the ultimate marker of success. You’ve edged out your competitors, and have the ubiquitous product in your sector. But having a wildly successful product can be dangerous.
It can take your focus away from product development, and shift time and attention towards beating competitors and securing your business with sales and marketing. This can seem like the right decision in the short-term, as ramping down on R&D decreases your operating expenses and exposes some fat profit margins.
However, that shift in focus can cripple you down the line. It can take behemoth companies and bring them to their knees.