IDEA to PRODUCT to BUSINESS

This mind-map aims to connect the overwhelming number of dots within the product management space. It also helps for a quick reference.

Simple changes in the words used can make a lot of difference to our products. As seen with Slack, Mint, and others.

What are some widely used growth tactics? Growth marketing is a long-term strategy while growth hacking is a short-term low-cost strategy.

Without attribution models we will not fully understand what drives conversions.

What tools are used for go-to-market?

Identifying the target market is a precursor to building any product of significance.

What are the two key things to keep in mind when it comes to upselling and cross-selling?

Product roadmap is a Gantt chart-like list that primarily represents the what, why, where, who, when within the development pipeline.

Knowing whether a lead is a MQL or a SQL or a PQL is important if we want to increase the probability of our conversions.

GTM mindsets determine our tactics for each funnel stage. There are two widely used GTM strategies or mindsets: product-led and sales-led.

A product that created and leveraged the viral loop effectively is Slack. It went from 0 to $1 billion in value in 8 months.

We can encourage an existing customer to refer our products to their friends and family. Significantly bringing down acquisition costs.

Email marketing and push notifications can dramatically increase user engagement, retention, and customer lifetime value.

Let us look at some real-world customer acquisition examples. Some of the tactics highlighted are also known as growth marketing/hacking.

Increase the number of leads in the first stage of the marketing funnel. Hence, more customers, in absolute terms, by the end of the funnel.

Marketing initiatives that saw user base grow from 0 to 1 million in 2009.

They are similar to some extent BUT the key differentiator is the mindset and the approach taken.

Well! we built a good product. It solves a real world problem. But if the world does not know about it, the product means nothing.

Measure effectiveness of your marketing funnel, analyse your marketing funnel metrics and understand your user behaviour.

What do firms do to increase the probability of converting a potential to a customer?