How to Find & Prioritize the Best Growth Ideas by Josephine Foucher, PM - Optimization, Hotwire

Howtofindandpriori-zethebestgrowthideas

JosephineFoucher-ProductManageratHotwirejfoucher@hotwire.com

Trac%on 2016

Agenda • Build the culture

• Find the best ideas

• Set up the process

2

Buildtheculture

“Thedefini*onofinsanityisdoingthesamethingoverandoveragain,butexpec*ngdifferentresults”

-AlbertEinstein

5

Createyournetworkofpromoters

Findyourchampions Engagedifferentteams

Product

EngineeringDesign

It takes a village to build a growth culture

Makepeoplevote

andprovethemwrong!

6

Socializeresults

Make sure your results don’t get buried

Buildarepositoryofexamples•  BiggestWINNERS

•  BiggestLOSERS

Control Variant1

WinnerLoser

Variant2

Celebrateinsightsnotjustwinners

Give permission to fail to allow great discoveries

Findthebestideas

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Startwithyourstrategy

Companystrategy

Businessgoals

Growthprogramgoals

TestHypothesis

Define your strategy to know where you want to go

then use tes%ng to get there

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Understandwhereyoustand

Analy-cs

Bounce/funnelanalysisErroranalysis

Topcustomerbehavior

Voiceofthecustomer

FeedbackSurvey

UsertesRng

Benchmarking

IndustrystandardsInnovaRons

Customertrends

You are not solving a generic problem, know yourself

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Educate Becrea-veEmpowerpeople

Engagethewholecompany

Different teams have different lenses, get them involved

Setuptheprocess

• Highlightwhatyouareproposing• Outlineyoursuccessmetrics• Stateyourreasoning

Frameyourini-a-vesasHypotheses

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Bad Example:

“If we structure the details page in a more diges6ble way then we can increase GPPQ because customer will find relevant info more easily

Good Example: “Let’s test a different book buCon colour.”

IF…THEN…BECAUSE…

Priori-zehypothesisforROI

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High

Low

High Low

Value

Effort

ValidateHypothesis

Doit!

Forgetit Ifyouhavetheresources

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BuildKnowledge

LoserorInconclusive

•  Strategicvalue?•  BadexecuRon?

Iterate

Moveon

Winner Amplify

No

Yes

Use past results to inform next steps

Promote

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Insummary:Culture,Ideas,Process

Process•  Usehypotheses•  PrioriRze•  Buildknowledge

1 2 3

Culture•  Findyourpromoters•  Socializeresults•  Celebrateinsights

Ideas•  Defineyourstrategy•  Knowyourself•  Getpeopleengaged

Your turn!

Thankyou!

JosephineFoucher-ProductManageratHotwirejfoucher@hotwire.com