product management (Helping PM to create awesome products)

Competition benchmarking is a highly abused term in product management. All product managers do it whenever they are adding new features to an existing product, or creating a product from scratch. The Internet is filled with many such frameworks, excel sheets, etc. You can use any framework to start with, But here I am going to talk about three pitfalls to look for while doing competitor benchmarking. 1: Your competitor might be doing A/B testing While benchmarking your product features against any competitor always keep in mind that competitor is also evolving their features by doing A/B testing and you may get confused by their feature variations. The best way is to avoid cosmetic features like the position of a button, the color of CTA, etc. because all these things are optimized for each product post-launch in an iterative process once core features are benchmarked. 2: Old design does not mean a non-functional design. Amazon is having a similar UI design for check out the page for ...

   Unsplash airfocus Data and matrices are the eyes and ears of a product manager. here is the list of matrices that a product manager should have an eye upon. For better understanding, I have categorized them into two groups product is all about user acquisition, and once the user is on-boarded their engagement. User Acquisition User acquisition cost (UAC): This metric measures the money spent on acquiring new users. It is calculated by dividing the total cost of user acquisition (including advertising, promotions, and other marketing expenses) by the number of new users acquired. For example, if a company spends $10,000 on marketing and acquires 1,000 new users, the UAC is $10 per user. A Product Manager can use this metric to assess the effectiveness and efficiency of user acquisition strategies and optimize their marketing budget accordingly. Rating and review score on app stores: This metric measures the average rating and review score of an app on app stores such as Appl...

A few months back I got a chance to explore an app called BeReal. It was a very fulfilling minimalistic designed app to share photos with friends. The more I explored it the more I was surprised at how they created an authentic social media experience in an age of filters and curation. What is this app all about, their business model, and what impact on competitors What is Be Real? It is a social photo-sharing app launched in 2021 and raised $60 mn series B funding in May 2022. Let's go through some data points to understand Be Real in more detail Downloads till Oct 2022 — — — — — — — — — — — — 67.2 mn DAU In Oct 2022 — — — — — — — — — — — — — — — — 20 mn Play store rating — — — — — — — — — — — — — — — — -4.6/5 It caused a ripple across social media, so much so that Instagram launched a clone called “Dual” and TikTok launched “Now” to get back gen Z users. Product concept a blue ocean strategy Around 2020 -21, when social media was bleeding red with several payers fighting furiousl...

In 2023 it is hard to find someone who does not know TikTok. Today we are going to discuss how an app born only in 2017 started dominating the app business market of the entire world. How are decades-old businesses forced to revamp their strategies? Let us talk about numbers first. Downloads have increased from 126 Mn   in 2017 to 3500 Mn  in 2022 Growth by a multiple of 27 in 5 years       MAU (Monthly active users) is an important matrix  to measure the engagement level of the app  increased from 133 Mn in 2018 to 1466 Mn  a growth of 11 times       Not only the downloads and user engagement  matrices are increasing but the revenue earned  also increased from 150 bn$ in 2018 to 9410 bn $  in 2022 . Growth by a multiple of 62…. wahoo                              It is an exce...