Secrets to Developing a Rock-Solid Application Plan - PowerPoint PPT Presentation

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Secrets to Developing a Rock-Solid Application Plan

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Launching an application is just the first step, Discover how growth team and north star metric assures you sustainable success for your application. A rock-solid sustainable plan involves an organized and disciplined approach to iterative product development and product marketing. – PowerPoint PPT presentation

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Title: Secrets to Developing a Rock-Solid Application Plan


1
Secrets to Developing a Rock-Solid Application
Plan
Want to futureproof your application? A major
challenge in application development is ensuring
longevity of your application in the context of
changing market conditions, continually
increasing competition and technologies. NETFLIX,
QUORA, Airbnb, SLACK Facebook, Twitter are some
examples of applications that continue to sustain
and succeed. While there is no manual for
future-proofing your application, there are two
key approaches you can take to ensure that your
product is set up for long term success even in
a fluid and ever-changing market. Sustaining
long term growth like that of Facebook, Quora,
Netflix and reaching millions of users worldwide
requires a scientific approach to growth in the
wake of new age technology and constantly
changing user behavior. A rock-solid sustainable
plan involves an organized and disciplined
approach to iterative product development and
product marketing.
2
Building a Rock-Solid Application Plan
Successful product engineering companies
understand that launching an application is just
the first step. Therefore, to deliver
sustainable value to the company, a holistic
thinking which emphasizes on market needs should
be incorporated in every phase of product
engineering. How do you develop a rock-solid
application sustainable plan? Here we go Have A
Rock-Solid Growth Team John Wooden, the
legendary basketball coach at UCLA started each
season by teaching all his new players on how to
put their socks on. The logic was that if you put
on your socks incorrectly, you get blisters,
which wont let you practice. If you cant
practice, you cant improve and if you dont
improve, you wont win. To foster successful
sustainable growth, organizations need to break
away from the traditional silos and establish a
cross-functional growth team. While traditionally
marketing team was responsible for driving
growth and user acquisition, in the new order a
separate growth team is a way to formalize the
process through which the company understands and
optimizes towards growth. Brands that have seen
amazing growth have a collaborative team in place
with expertise in analytics, engineering,
product management, and marketing. This allows
companies to efficiently marry powerful data
analysis and technical know-how with marketing
savviness to develop a robust application. The
team tests every hypothesis and asks the right
questions like how do customers interact with
the product? What is the truly important to the
customer? How can the product solve their
problem as soon as possible? Facebook. Airbnb,
Quora are great examples of how growth teams make
big impact. Facebook pioneered the concept of a
separate growth team and what started then as a
team of 3 people and has since been a major
driver of Facebooks sustained growth and
success. A good starting point is to choose
among the two growth team models namely
Independent and Functional model. Interestingly
while growth teams in companies like Facebook,
Uber work independently inside the organization,
growth teams in companies like Pinterest, Dropbox
and Twitter report directly to one functional
head have a functional model which reports to
functional head. However, dont rush into
investing in an application plan before youve
tested the viability of the product and its
ability to generate repeat customers.
3
Establish true-north metrics Establishing a
single metric that best captures the core value
that your product delivers to customers helps
you measure between winning and losing. Many
companies use true-north metrics to measure
success like in case of LinkedIn (Quality Signup
within first week as member), Facebook (Get users
to connect with 7 friends in ten days),
Pinterest (Weekly Active Repinners), Slack
(Tracks Teams who have sent 2000 messages).
So how to create your own custom success metrics?
Firstly, discover your Growth Flywheel engine
of growth to get an understanding of the value
proposition that your business delivers and areas
where the growth will come from. Once you have
your guiding light, you can confidently move
forward with rapid experimentation to figure out
how to best deliver that value. Hit the Ground
Running! Successful ISVs and major unicorn
companies like Airbnb, Facebook, Uber, Google
attribute a large part of their success to
sustainable growth created by growth teams and
establishing true- north metrics. It enables you
to build a great product that resonates with your
audience and expedite the path to success. If
youre ready to take the next step towards
developing your app idea, wed be delighted to
hear from you. Our experts will get in touch
with you. Contact us now, were just a call away!
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