Product optimisation can provide exceptional value to teams. However, it is vastly removed from product delivery. With the increasing number of new tools to assist companies with optimisation such as A/B testing tools, services and more aggressive push towards product discovery, the importance of this process has increased immensely. Live-data prototypes and A/B testing for product delivery is only part of the product/market fit.
Once it has been discovered, optimisation sets in as businesses seek to uncover what works best. Product optimisation makes a big difference, regardless of the size of the company. The steps for effective product optimising are detailed further, with an emphasis on constant experimentation to measure results. A data driven culture is embraced with rapid capacity to test and learn as well as move forward, taking the force and viewpoint out of the argument. One accurate measure is worth a thousand expert so-called wise opinions.
#1 Define the Process
The first key to product optimising is to agree on the key performance indicators and objectives that each optimisation phase and test seeks to measure. New ideas should have some value connotation associated with it, from being better to worse or having no impact.
#2 Test One Change at a Time
Generally, testing one change at a time is important. There are different ways to test multiple changes at a time. For most companies a single focus is better because the analytics and outcomes are easier to understand. The focus should be on getting results that are of value, when engaging in analysis for optimisation of products. Start with a small percentage of traffic and ramp it up as the results pour in.
#3 Focus on the Outcome
From A/B tools for testing to web analytics, every aspect of the Pathwwway Panama testing process should be easy to follow. Many teams tend to become over-concerned with data. The outcome is more important than the information gathered. The aim is to measure what is meaning-filled. The focus should be on understanding what the metrics mean for the product in question. For example, an e-commerce store may see higher click through rates for a product, signaling audience acceptance of it.
#4 Understand What You Measure
It is important to consider data in a neutral, bias-free and objective manner to consider what you are measuring and what the caveats in place are. Using judgment to decide how to measure, collecting data before making a business decision and encouraging a deeper insight from the data is important.
Automating the reporting is essential for having confidence in the data.
#5 Watch Out For Pitfalls
Many factors can interfere with the product optimisation process. This includes the performance of an operation. Responsiveness of your test for optimisation should reflect the reality in question. Tests may require a day or two to yield sufficient data, but extended testing also yields weekly trends and traffic spikes. Pathwwway Panama says that running tests continuously is the way to overcome the hurdles.
#6 Differentiate Between Prospects and Existing Customers
Another important step is to separate the leads from the established customers. New and returning customers can value the product in a different way. The behaviour is different depending on the nature of the client. Customer attitudes, needs and preferences may also differ.
#7 Study UX, Work on UI
For products to be optimised, the role of user experience design is important. Therefore the level of skills and expertise required for the UX team must be considered. Designers are used for product discovery rather than optimisation. Designing change can be hard, unless you work on measuring every element of user experience and work on user interface with respect to the product or service.
#8 Choose Your Tools Carefully
Hosted services and optimisation tools exist in plenty. There are many full service companies that can assist in running tests as well. Core competency of product management is to be able to test whether you have an optimal product. Is the product likely to achieve the highest rating? The product should also be able to provide a wide profit margin. Additionally, the quality of the product also needs to be evaluated. So all these factors are taken into account while considering what defines an optimal product. A product has been optimised to fulfill the needs of the consumers. It needs to, therefore, connect with them emotionally and become critical to their identity, lifestyle and values.
#9 Define Your Product Well
For product differentiation or optimisation, it is important to define what challenges it will meet, how it will differ in terms of socio-emotional connect, sensory experience, utility value and the context and consumers for which it needs to be optimised. Targeting research recruiting is on the basis of preferences. These preferences can be changed over time. You need to form a strategy that focuses on understanding the rational and intuitive aspects of the customer purchase decision journey.
Ultimately, a product a means of delivering on brand performance value. The job the product fulfills, the manner in which it is positioned and its concepts and context all provide meaning. These elements are factors the optimisation process must study such as features, sensory qualities and functionality of the product.
#10 Meet Your Target Audience Needs
The key to understanding how to optimise your product is to ask what job the target audience requires the product to do. Product utility is about the performance of a product in terms of outcomes, for example. Sensory, social aspects and emotional value of the product are equally important. Brand expectations are defined by the product.
Differentiate your product from the others in these important respects and you will be able to connect with customers and gain market share more effectively. Being innovative, solving the customer’s problems or meeting his/her budget is not enough. You need to deliver a quality product at affordable rates. A consumer will only reward you with loyalty if the product is up to the market. All optimisation efforts should, therefore, focus on creating a deeper understanding of what he/she wants and meeting these needs head on.