The Product Person - 🛠 The Product Person #45
hi, Anthony here! In this newsletter, I curate insights on how to build great products. You’ll improve your product skills with every issue. Let’s get to it. (Btw, today’s issue is sponsored by On Deck Catalyst) Time To Value (TTV)(Insight from Baremetric’s Business Academy) Time To Value (TTV) is the amount of time it takes for a customer to realize value from your product. 🌟 Your goal is to decrease TTV as much as possible. With software products, it’s very easy for customers to churn and sign up for a competitor’s products. A shorter TTV means customers see their ROI sooner— and they’re more likely to stick with your product! 📓 Defining ValueValue is the benefit your customer is expecting to receive from your product. It’s your promise to them. Your product promises X → Customers buy it in hope of X. Now the question is: How long does it take to fulfill your promise? ✨ The ‘Aha’ MomentThe next question is: Where and how do you fulfill your promise? This is the ‘aha’ moment. It’s the moment where customers first realize the value of your product.
Once you figure out where and how your promise is fulfilled, decreasing any friction to get customers to that point is critical. ⏳ How To Decrease TTVHere are 3 ways you can shrink TTV in your product:
📌 I’ll end with a few questions:
🌍 SponsorIf you want to change the world, then this program is for you. On Deck Catalyst is a 10-week remote program for young leaders who want to solve the world’s most pressing problems and take an unconventional path to building their career. Their curriculum includes:
Their next cohort kicks off June 5. You can apply here before May 4th. Applications will be reviewed on a rolling basis. End NoteThanks for enjoying The Product Person. I’d love it if you shared it with a friend or two. If this was shared to you, you can subscribe here. ❤️ Hit the heart button as well, it helps a lot. Have a great day, (P.S. Anything I can help you with? Just reply to this email, I’ll respond) If you liked this post from The Product Person, why not share it? |
Older messages
The Product Person #44
Tuesday, March 16, 2021
hi, Anthony here! In this newsletter, I curate insights on how to build great products. You'll improve your product skills with every issue. Let's get to it. (Btw, this issue is sponsored by
The Product Person #43
Tuesday, March 2, 2021
hi, Anthony here! In this newsletter, I curate insights on how to build great products. You'll improve your product skills with every issue. Let's get to it. (Btw, today's issue is
The Product Person #42
Saturday, February 13, 2021
hi, Anthony here! In this newsletter, I curate insights on how to build great products. You'll improve your product skills with every issue. Let's get to it. 4 key tips to product presentations
The Product Person #41 — Easy first customers
Thursday, February 4, 2021
hi, Anthony here! Every week, I find articles and posts around the web about product development and how to build great products. Then I summarize and share them here. Let's get to it! There's
The Product Person #40 — A lesson from GameStop
Sunday, January 31, 2021
hi, Anthony here! Every week, I find articles and posts around the web about product development and how to build great products. Then I summarize and share them here. Let's get to it! GameStop
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