There is no limit to learning, especially learning from the wisdom of others who have been there and done it. We decided to organize a product meet up to bring together some of the best minds in the Tech and Product scene in Chennai. Participant came from reputed companies like Hexaware, TCS, Athena and In3access to name a few.
We learned a lot over the 2 hour session, lots of good tips, experiments, experiences and conclusions. But don’t worry I won’t take you through every details of the 2 hour session. I decided to sum up all my key takeaways from this meet up so you could synthesize the key learning’s efficiently
Voice of customers and how to channelize it
Gathering Voice of customers is very essential in every stage of Product Development. But incorporating all the feedbacks and requirements can be a rather cumbersome effort. There has to be a method in the madness of building a truly world-class product.
Speaker: Swamynathan H — Product Manager at TCS
Takeaway: Product prioritization or new features should not be just based on customer feedback, instead KPI’s have to be adequately defined and the North Star metric should be clearly defined. Now the customer feedback should be incorporated and should be checked if it truly moves the North Star metric or it’s just another vanity feature
Market/Business research & Competitor’s Analysis
Market research is the second stage for gathering requirements to build user stories. Just taking stock of customer feedback might not be enough when entering in a red ocean. Reviewing competition and the best features their product has to offer is very vital.
Speaker: Vignesh Raja — Product Manager at Inthree Access
Takeaway: When it comes to a B2B product having a proper review of competition is very essential. Most business decisions are not just taken on price points but rather on the value the product has to offer. Cutting down on features just to compete at a pricing level will not cut it and product has to be positioned in such a way that it will maximize the value for the customer over its lifetime
These were my key takeaways from our first product meet up! Please let me know in the comments — Would you like to read more meet up reviews in the future and if you would like us to cover any specific topic with regards to Product development and Tech.