Product Stickiness / Retention and Growth

 Product and Growth - Anirban Das - Dunzo

- Identify Core Mechanics at play for users.

- Basis --> Carl Reiss --> 16 Basic Desires

- collections --> Eg. AirBnB --> experience collections; swiggy / zomato --> food collections

- progression --> visualisation of progress - give user more comfort; and promotes going through 

progress bar A/B at Dunzo --> progress-bar --> lower support tickets about status

- crafting

--> customisation fuels growth

- order 

--> appointment mechanic --> time bound notifications 

Eg. Dunzo -> salary day sale

Cult -> independence day sales

- Gacha 

- go big or go home

- Near miss

- satisfaction is almost as good as success

- slot machines slow down at the end

- Self Expression

- customisation for individuals

Eg. avatars - in RPG

Linkedin --> cover images; hiring and open to work --> badges on profile images

- Investment 

- more time and effort  / sunk cost locks people in

- Catchup 

- some mechanism for new player to reach equal to new users

Eg. reward program --> good to design this into reward programs.

crash course --> catchup mechanics

 

-x-x-x-x-x-x-x-x-x- (I think we are very very very very bad at this)

Framing a hypothesis --> Varun Ramamurthy - Netcore

hypothesis -> idea; from observation; not proven yet.

Process --> Observe, Ideate, Weed, Frame

Observations --> Analytics, Customer Tickets, Reviews, Survey, External Data, Proxies, Trends, 

Weeding --> Testable, Falsifiable, Russell's Teapot --> burden of proof

Revamp homepage --> falsifiable ?

Pauli --> Not right; not wrong quote

M.I.A --> for hypothesis 

Modification -> what is new 

Impact --> by how much ?

Audience --> for whom ?

Impact estimation --> should be done.

Constraints

cannibalisation, 

Exit Strategy

Fail-safe; timed, always fulfil promises, ethics

Org Culture

Difficult of org is not aligned.

MPL (mobile premier league) --> has amazing culture about this

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Nir Eyal - Author - Hooked

- Products can change our behaviours 

- started out as toys and integrated into our lives

- TODO: read hooked

- habit -> not addiction

- growth before engagement !! --> is a big mistake 

(learnings --> user should have a hook to check to see if there is anything new today)

growth can be bought

-- problem --> solved by product --> with enough frequency

-- trigger -> action -> reward -> investment

- trigger --> manual, internal triggers (people, places, emotions, situations, ), 

- depression --> check email more

- lonely -> facebook

- unsure -> google

- bored -> facebook

 

No trigger --> flying blind

Simple behaviour 

6 levers of motivation

Ability -> time, money, physical effort, brain cycles, social deviance, non-routine (practice)

Reward -> supercharge desire

- variable reward 

- Skinner experiment --> 

- cannot manufacture desire but can supercharge

Reward -> rewards of tribe (from other people and feel good); 

Eg. likes on facebook 

--> reward of the hunt 

Eg. gambling; 

linked in --> became a content site --> scrolling variable rewrd 

Eg. 9gag

--> reward of the self 

self achievement --> Eg. games, levels,  

Eg. very good eg. --> notification badge

Investment -->

- load the next hook.. Eg. whatsapp double and blue tick / notification badge

- investments store value --> google drive; email, finance apps; followers; 

reputations on upwork; etc

airbnb --> 

Not the best product wins --> best hooks and best habit forming product wins

Designing habit-forming products is a form of manipulation.

Pursuation vs coercion 

Habit --> competitive moat around the business

how to build a bridge across it ?

content, community, conversations --> form habits around

monetisation from engagement --> build Borivali 

Eg. 

Vacations --> dream everyday; go less often

Hooked --> when to apply ?

initially -> ideation phase

diagnostics -->  

What changes across cultures, --> the definitions of trigger, reward 

Variable rewards --> 

Spam vs Magical trigger --> Eg. airhostess wakes up a customer for do you want drinks ?

Context !!!!

Trigger when does it serve its complete purpose --> when coupled with 

Limited time deals and sales is an example of variable rewards ? Yes

McDonalds - toys with happy meals, also

Atomic habits --> James 

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Biswa -- 

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Product led - on-boarding - panel discussion

intercity -->

-  discovery, USP showcase, login / permissions, Aha moment ! - upfront

Great onboarding experience 

home-workout app -> 

intercity -> railyatri --> has info on trains as a hook, status and availability

app deep-linked to web searches.

(learnings) --> pages where login is not required.

spotify -> start right from playstore, interests -picking artists, genre, 

On-the-go experience --> web and app are in sync.

sessions are saved without login

(example of stored value)

BjFog model of behaviour 

TODO:  

On product --> intent and motivation level are unknown 

- some info through acquisition channels can be used as indicators 

- and can reduce the cognitive load for user 

- to use this to load the next trigger 

Priming a user, 

- investment bias (learnings) -> cancer type and get blogs.

- framing to give infalted perception of value / or reduce purchase threshold 

- anchoring bias --> happens on reviews / pricing

review --> but should be on a different platform

but first 5 are the most important

- anchoring bias --> apple 699 for base service / phone --> +200$ for next version

and not 900$

- meesho --> multi-lingual onboarding

- creative cloud adobe --> x + y(free) --> given

- metrics for engagement -->

- value discovery at the top of the funnel.

(learnings) --> public pages.

app --> login (why should they give you their data)

- lead indicators for retention --> 

Retention curve --> for OTT

Eg. first 7 days -> open rate 3 days, 30 mins, 10 shows

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Data driven experiments on Mobile Apps to maximise funnel conversions.

- how to get a data driven org ?

sales / ops first --> product first

- democratise data 

- understood by everybody 

- who have access get data --to--> cares about it --> gets data

- I know --> I will find out. (appearance of motion vs meaningful motion )

- ops first teams --> product first is going to be a difficult transition

When to experiment and when to not do it ?

- 

- try fast / fail fast

- set audacious goals --> (learnings) --> we don't do this.

- fantasy IPL --> discount better than failed payment experiment

Eg. 45Rs for service 40Rs in wallet --> should make user pay 5Rs or give discount of 5Rs

- picking the right metrics --> the secret sauce

- instrumentation understanding --> data collection method

- errors and biases --> 

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Building your product right for growth and retention:

- user persona which one is key ?

trigger --> ?

what can be the offered to this persona ?

- RFM (recency, frequency, monetization ) framework

- to divide user strata

- Prioritisation --> Eisenhower metrics

urgent, important, --> 

- Evolution of product and persona --> always an on-going process.

- Persona evolution --> present opportunities 

- may not be monetary but can be engagement, growth 

- ROI - in number of users is a good metric

- effort in terms of time --> 

- Roadmaps should be religiously revised every 3 months.

- Dipping your toe should be a mindset for all tests and hypothesis design.

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