Akansha Malara
@ProdInsightHub
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Lead Project Manager at Nextera Energy | Passionate about renewable energy | ASU MBA Co'23 | Sharing PM tips and insights | #ProductManagement Enthusiast
Joined November 2022
🎓[1] How Duolingo Makes Learning Fun with the Multi-Armed Bandit! 🎓 Imagine you're at an arcade 🎮 with multiple games (each one a lesson): 🔹 You try different games (lessons) 🎰 🔹 Duolingo watches which games you enjoy & learn from the most 👀
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[3] Just like choosing the best dish, A/B testing helps us pick the best options for our products! It's all about testing, learning, and optimizing! 💡 #ProductManagement #ABTesting #DataDriven
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[2]🎯 Step 1: Split your customers into 2 groups. Group A tastes Recipe A. Group B tastes Recipe B. 📊 Step 2: Observe reactions. Which dish gets more orders? Better reviews? 📈 Step 3: Analyze & Decide. Recipe A is a hit? Keep it! Recipe B wins? Go with B!
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[1]🧪 Let's decode A/B Testing: The Secret Sauce to Data-Driven Decisions! 🧪 Imagine you're a chef 👨🍳 with two secret recipes for a new dish 🍲. How do you pick the best one? 🤔 🔹 Recipe A vs. Recipe B 🔹
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4️⃣ Obsess over customers, not competitors: Remember Customers do not leave due to competitors but because we stop caring about them. 5️⃣ Communicate the strategy across the organization. #ProductStrategy #BusinessGrowth #CustomerFocus #Alignment
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Mastering product strategy? Here are 5 key principles: 1️⃣ Focus on one target market or persona at a time. 2️⃣ Align your product strategy with your business strategy. 3️⃣ Ensure it complements your sales and go-to-market strategy.
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[2]🔍 Remember, a pivot doesn’t always mean changing your vision. Sometimes, it’s about adjusting the course to reach your goals using a discovery pivot. #ProductManagement #Pivot #BusinessStrategy #Innovation
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[1]Pivoting is crucial in Product Management! 🔄 A pivot means shifting your business strategy. It’s often due to competitive changes, market insights, or flaws in the original plan.
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[2]2️⃣ Inspire! A meaningful vision focuses on genuinely helping your users and customers. 3️⃣ Anticipate trends! Aim for where the world is heading, not where it has been. #ProductVision #ProductManagement
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[1] Product vision describes the future we want to create with our product. Keep these tips in mind when crafting a product vision 1️⃣ Think BIG! Your vision should be ambitious and long-term, not just what’s achievable in the near future.
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Go-To-Market (GTM) Strategy: The plan to reach, engage, and deliver value to your target audience. These factors are crucial for strategic market prioritization!
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When prioritizing markets, consider these three factors: Total Addressable Market: The overall revenue opportunity if you capture 100% of the market. Total Time to Market: The time required to develop, launch, and establish your product in the market. #MarketStrategy
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People often confuse Project Management, Product Management, and Program Management, but each plays a unique role in achieving business objectives
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Product Managers face 4 key risks: Value Risk: Will customers buy it? Usability Risk: Can users easily use it? Feasibility Risk: Can we build it? Business Viability Risk: Will it sustain our business? Mitigate these for successful product creation. #ProductManagement #Risk
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Everyone knows MVP stands for Minimum Viable Product/Prototype. Emphasis here is on minimum—in the agile world, it's crucial to experiment ideas cheaply and quickly. To check product-market fit, create a simple prototype/MVP, not a full-blown product. #Agile #ProductManagement
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What is Product-Market Fit? It's the smallest version of a product needed to address the needs of a specific market segment. A lot of product teams fail to achieve PMF but it is crucial for product success. #ProductManagement #ProductMarketFit #StartupSuccess
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A Product Manager should bring deep knowledge about: a) Customer b) Data c) Business & its stakeholders d) Market & its trends This ensures well-rounded decision-making and impactful products. #ProductManagement #KnowYourMarket #CustomerInsight
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🔍Segmentation in Product Design: Use Behavioral segmentation over demographic. For instance, you are asked to improve Instagram. Segment users by time spent: Heavy (>1hr/day), Moderate (>30 mins/day), and Light (0-30 mins/day) users. #ProductDesign #SegmentationStrategy
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Truth: Half of our product ideas won't work. Even good ones need multiple iterations for real business value -@Cagan, Inspired. #ProductManagement #IterateToSucceed
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