Growth is essential for every company. Part of finding the best growth strategy is to try things out and A/B test experiences to see what is driving your core metrics. The key is to experiment a lot, fail fast and try again. The product managers from Box and Zenefits talked about what growth is, why it’s important and gave some basic definitions on growth.
Sr. Product Managers at Box and Zenefits
Reyana Fayyaz is a Senior Product Manager at Box, focused on growth and monetization of the self-serve experience. Before Box, Reyana has managed products at a variety of startups including mobile games, karaoke apps, and human resource solutions. In her free time, she mentors urban youths in the STEM at YearUp, plays soccer, chess, the electric violin and with her cat Binks.
Rishi Shah is a Senior PM at Zenefits, focused on Growth & Activation. He covers both the self-service and sales-assisted buying experience. Before Zenefits, Rishi worked at a marketing analytics startup in Austin, TX where he helped NBA teams and major media companies (Time Warner, Vox, etc.) monetize their customer data. In his free time, he reads obsessive amounts of Politico, plays soccer, and travels internationally whenever he finds a good flight deal.
How (Not) to Lose Your Customers
Growth should be something that every technology company is thinking about from an engagement and revenue perspective. Reyana and Rishi talked about how you can tackle quick wins, and then develop a longer-term strategy for onboarding, sales channels, increasing market share mostly for enterprise software. They defined what growth means and discussed some lessons they’ve learned along the way.
- Growth lies in the intersection of marketing, sales, and analytics.
- Essential for growth is that the product manager supports the other teams and they support him/her.
- Customer segmentation and win/loss analyses are crucial.
- Sales are essential in growth because once you understand how customers are purchasing from you, you can do it better.
- In the intersection of sales and marketing, the two need to interact and work together to create the desired results for growth.
- A/B testing is one of the most important tools you can use in growth!
- As a product manager, spend some time with the sales team and be in the loop with them, as well as with marketing.
- Mix up your acquisition strategy with SEO, SEM, keywords, link building social media, etc. Use a lot of different channels, not just one because if that one stops working, you don’t have another option.
- Data is vital but don’t bury yourself in it. Ask the right questions and dive deep into them. Don’t look at the dashboards daily because the metrics don’t change that fast.
- Help your users figure out your product with user guides, for example.
- Don’t forget about user research and remember that when talking to customers you need to read between the lines.
- Growth is a joint effort!
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