Product

Product Lexicon: The definitions behind the jargon?

If for you AARRR is an onomatopoeia, then you are in the right place, the one to discover the meanings behind the product jargon that is more or less easy to understand! Between the English terms of the “startup nation” and those of companies with a very strong lean culture like BAM, then understanding Product Managers requires a rosette stone!

To help you decipher the language of your PMs, understand what drives their daily lives and allow you to discover new actions, here are 11 of our most used terms in Product.

 

Go&See

The Go&See is an exercise insighting Of the users fielded. It allows us to see their behavior in their context.

The Go&See allows you to explore existing solutions by:

  • Analyzing the gap between what users are looking for and what they actually receive
  • Understanding what actions and habits you are fighting against

These two elements are essential for prioritizing user preferences and therefore increase the adoption of your product.

Contrary to what one might think, Go&See is very different from an interview: first, it takes place where your users experience the problem (in a real situation); second, you don't interact with the user, you let them do the way they always do without reacting.

 

Persona

One persona is a model that represents some of the users that one would like to target with a product. It is a Fictional portrait Which lists features types that will be shared by users within the same group. These may be characteristics Social (age, gender, CSP, profession etc.) but not only! The interesting thing is to have interests and beliefs, even emotions, that will allow us to better understand The state of mind of the target and to better target them. A good way to identify different types of personas is to dig into the Job To Be Done of your users.

 

Job To Be Done (JTBD)

The Job To Be Done is a concept theorized by the American Clayton Christensen according to which users do not so much adopt a product but rather the service that he gives back to them. Indeed, a good product is a product that allows users to solve a problem. Discovering the Job (s) To Be Done of its users means understanding their emotions and what they are looking to achieve, which will allow maximizing adoption and retention of the product. JTBDs are therefore excellent ways to segment your target (define your personae) and to identify all the alternative solutions to explore during the design process.

 

User key preference

One A user's key preference is a criterion on which he will compare different products before deciding to buy or use one of them. So it's about features which should definitely not be missed if you want to satisfy the customer. A user preference is the result of user research, via Go&See or interviews.

 

Critical performance

Les critical performances are closely linked to key user preferences since they specify what the product should do and should be to satisfy each user. In order to maximize the adoption and retention of a product, it must live up to market standards on most critical performances, but really stand out from the crowd on one or two of them.

 

Product architecture

THEproduct architecture is a way to visualize for each user preference, what are the critical performances as well as the features and technologies that we will integrate into the product to meet these preferences.

Product architecture is a great format for synthesizing The apprenticeships of the phase of Discovery before starting the design. The objective of the product architecture is to allow the team to quickly identify:

  • critical functions and technologies impacting user preferences (something we should not be wrong about);
  • the compromises to be resolved from a functional and technical point of view in order to maximize critical performances.

Product concept

Choose a Product concept It is to determine The emotion that we want to create with the product. The intention to buy comes from the right brain (that of emotions): choosing a concept therefore consists in understanding which product affects the right brain of which customers and in what way. It allows you to create a strong vision which will guide all future design choices.

The concept is generally inspired by key user preferences and associated critical performances. A good concept is a compromises between two things that the product must be able to do for the customer that no other product on the market solves perfectly. This allows position the product in a unique way compared to competing products.

 

Product benchmark

One Benchmark Is a parses competitors of a product. The aim is to understand the different positions of competitors according to the preferences of users in a given market and to identify the functionalities they offer in order to highlight the opportunities for differentiation.

 

Positioning

The positioning of a product refers to the place he wants to occupy in a market and in the minds of users. Concretely, it is a set of criteria that the product meets at various levels to be differentiate of its competition.

 

Product Market Fit

Product Market Fit is the meeting point/match between a product and its users. PMF means that a product meets the preferences of its users and provides them with value. A product that meets its market is then ready to be deployed on a larger scale without generating additional costs.

One way to measure product market fit is to ask users how they would feel if this product was taken away from them: “very disappointed”, “disappointed”, “not disappointed”. It is considered that if 40% of your users are “very disappointed”, then you have reached your PMF.

 

Roadmap

One Roadmap Is a representation Visual of what should be developed in the product. It serves the Product concept and is located in a time frame. It ensures that all members of a project are aligned behind the same vision and the same goals.

 

EPIC

One EPIC Is a functional brick of a product. It represents a set of actions and interactions that the user can perform.

This level of detail macro allows you to easily prioritizing developments in terms of business objectives and user preferences. One EPIC will then be subdivided into several User stories.

*Anecdote: An epic (*epic*in English) is a set of several stories (*stories) in English). This is why on agile projects, there are Epics made up of several user stories.

 

AARRR

AARRR Is a Framework allowing Managing success of a product. Also known as “Pirate Metrics”, it is composed of 5 measures of user behavior. These are the 5 measures that any organization that wants to do product-based growth should measure:

  • Acquisition (or Awareness) - ****how did users find out about the product?
  • Activation - are these users doing the actions we expected?
  • Retention - do our active users use the product on a recurring basis?
  • Revenue - are our users ready to pay for this product? How well did our converted product?
  • Referral - are users hooked on the product enough to tell others about it?

NPS

The NPS (Net Promoter Score) is an indicator that makes it possible to assess the satisfaction And the Loyalty of customers as well as their probability of recommend your service.

It is therefore obtained by analyzing the answers to a single question:”On a scale of 0 to 10, would you recommend our service to a friend/colleague?“.

 

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The NPS is a note on 100 Which is calculated by subtracting the number of customers detractors To the number of customers promoters.

It is a value of comparison : it is only valuable if it is compared to the NPS of other competing companies.

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