Question

How to define a winning product strategy

  • 26 December 2021
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Hi product community,

Our company has a goal to increase the MAUs. What approach would you take to build a winning product strategy? 
 

Any help will be appreciated.

Thanks,

Ash


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A desire to increase MAUs is usually tied to your product’s stickiness and a reason to return to use it. Not knowing your specific product, this is difficult to answer. Depending on your product, and why this metric is important to your business, there may be different approaches you take. But here’s some broad thoughts:

  1. If no one uses your product, or remembers they have it, then you’ll likely need to spend time understanding why — both the internal factors (what the product addresses) and external factors  (what gets the users to your product). That means starting with discovery with customers and why the product is no longer valuable and how they are using your product. Chances are there are better alternatives or things that solve the problems better or faster or cheaper or your product no longer solves them well. Then you’ll need to solve those better than the alternatives. 
  2. If people have to use your product but hate using it, then you’ll need to dig into your UX and what’s driving that poor experience, find ways to improve or simplify and speed up common tasks and make your product delightful. 
  3. If your product is already well-used and habit forming then you may need to invest even further in additional triggers, actions, rewards, and reasons to return that drive your flywheel (Nir Eyal wrote about this in his book Hooked which is about the importance of building habit forming products). 

As our CEO, Hubert Palan wrote you often will need to look at a product’s value as part of your strategy. There’s likely some value lenses you can look at addressing.

 

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