live, don't just exist

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10 Ecommerce Metrics To Track And Grow Your Business

Sales Conversion Rate

Website Traffic

Opt-In Conversion Rate

Revenue By Traffic Source

Customer Acquisition Cost

Average Order Value

Lifetime Value

Percentage of Returning Customers

Shopping Cart Abandonment Rate

Net Promoter Score

https://www.referralcandy.com/blog/ecommerce-metrics/

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ML is simply

Data = Signal + Noise

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Urgent v Important

“What is important is seldom urgent, and what is urgent is seldom important” — President Dwight Eisenhower

Important leads you to your long term product vision, whereas urgent is made up (issues that customer deem urgent but in reality they wont notice after a few days, enhancements they are currently focused on / they want it but really dont need it).

“When there is an upset customer on the phone, it’s easy to cave in and agree to escalate their request. The problem is that when a task is escalated, it is now considered important. If everything is escalated to important, nothing is important. Recognizing that a task is urgent but not important allows a Product Manager to either delay the solution, or say No to it altogether.”

Eisenhower 2x2

Good products are an inch wide and a mile deep.

A common misconception is that Product Managers should be making all of the decisions for the roadmap or product strategy. In reality, Product Managers should be ensuring that the best decision is made for the product. 

Ref: https://productcoalition.com/the-best-products-play-the-long-game-ba1189cb167f

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The power of doing nothing

https://www.jotform.com/blog/the-power-of-doing-nothing-at-all/

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Product Interview Questions

https://www.producttalk.org/2012/06/4-questions-i-always-ask-when-interviewing-product-managers/

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What makes a great Product Manager?

https://hackernoon.com/what-makes-a-great-product-manager-3c1d03b90356

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Wrnog

“Its OK to be wrong, its NOT OK to stay wrong”

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Arguments

“You don’t have to attend every argument you are invited to”

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Never go to sleep..

“Never go to sleep without a request to your subconscious.” — Thomas Edison

https://journal.thriveglobal.com/this-10-minute-routine-will-increase-your-clarity-and-creativity-b095efe8d815

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One of the greatest comebacks ever

https://medium.com/the-mission/the-dropout-and-one-of-the-greatest-comebacks-ever-1a241803cac

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Inspiration

is for amateurs. For us professionals, we just need to get in to work and do something. It is this hope that while you have given an opportunity of window to yourself, something magical will happen.

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Launching New Product

Ask yourself this question- what are people going to stop doing once they start using your product?

Habit, momentum, familiarity, anxiety of the unknown — these are incredibly hard bonds to break. When you try to sell someone something, you have to overcome those bonds. You have to break the grip of that gravity.

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12 KPIs to track in your product

https://techcrunch.com/2017/02/04/12-kpis-you-must-know-before-pitching-your-startup

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Price before Product. Period.

http://firstround.com/review/its-price-before-product-period/

e.g. Amazon firephone (too many features), segway ($3k-7k, way overpriced), Asus minibook ($299 - way under priced; demand to sales was 900%; too much money left on the table).

Always start with pricing your customer. Check on WTP, Expensive Pricing, Prohibitive pricing, Test 3-4 segments. Go after the one with maximum potential.

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If everything seems under control..

..you’re just not going fast enough.

—Mario Andretti.

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What “er” are you solving for?

Better, Faster, Cheaper, Healthier, Safer, Easier

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Spending shifting from Products to Experiences

Spending outside of measured consumer goods categories is typically increasing faster than total consumer spending on average. Can you help create experiences for customers?

- Outside store experiences - In-store experiences  - In-aisle experiences (Augmented and Virtual Reality) - At-home usage experiences