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Module 6 - Product Analytics - IA - v2

This document discusses product analytics frameworks and techniques. It introduces the HEART framework for measuring product goals like adoption, engagement, retention, and task success. It also covers behavioral segmentation of users, funnel analysis to identify where users are dropping off, and making product requirements documents more quantitative with metrics. Key frameworks discussed include HEART, PIRATE, and GAME for defining goals and metrics for products.

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Swapnil Gudmalwar
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41 views9 pages

Module 6 - Product Analytics - IA - v2

This document discusses product analytics frameworks and techniques. It introduces the HEART framework for measuring product goals like adoption, engagement, retention, and task success. It also covers behavioral segmentation of users, funnel analysis to identify where users are dropping off, and making product requirements documents more quantitative with metrics. Key frameworks discussed include HEART, PIRATE, and GAME for defining goals and metrics for products.

Uploaded by

Swapnil Gudmalwar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Module 3-

Product Analytics
Agenda
1. HEART Framework
2. Behavioral Segmentation
3. Funnel Analysis
4. Making PRDs quantitative

From the previous session: https://vwo.com/blog/ab-testing-tools/


3
Products roles in B2B v/s B2C

● Longer Sales Cycle ● Short Sales Cycle


● KPI and metrics of the customer’s work ● Wishes and Convenience of the
● Buyer vs User customer
● Least disruption- small feature ● User is the buyer (usually)
iterations are not usually possible ● Multiple experiments, A/B testings
possible
Example: SAP, any CRM system
Example: Swiggy, Amazon e-comm

“
B2B B2C
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Different Frameworks of Measurement
1. Focus Metric/Goal, Signal, Metric
a. Example: Adoption, Downloads, Number of downloads in a week

2. Leading vs Lagging Metric


a. Engagement is leading whereas Monetization is lagging

3. Different Frameworks:
a. HEART, PIRATE (acquisition, activation, retention, referral and revenue), GAME (Goals, Action,
Metrics and Evaluation)

4. REMEMBER: Not all products are created equal!!


5. Important Terms: MVP, Tech debt

“
5
HEART Framework

GOAL METRICs MEASUREs

Adoption Aware Users Number of users who launched the app at least once/
Net New Aware Users Unique Installs
Net Adoption Number of first time users during the period measured
% of users who launched the product out of aware users

Engagement Intentional Activity % of aware users performing at least 1 self initiated action
Feature Usage- Daily/Monthly Number of features used
Users by Feature Number of active users for a feature
Intensity of Usage Number of minutes/frequency of usage per
day/week/month

Retention Retained Users Number/Percentage that is active this day/month/year who


were also active is the last period

Task Success Task Success Rate


“
Average Task Completion Time/Clicks
Percentage of users completing the task start to finish
Average Time/Clicks spent in the task

Happiness NPS % Promoters- % Detractors


Subjective Feedback Collected periodically or determined by issues reported
Star Ratings Explicit ask
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Behavioral Segmentation

1. Usage Frequency: Buying daily, monthly, once in a lifetime, etc.


2. Occasion: Festivals, special occasion
3. Benefits Needed: Flying, Hotel stays, etc.
4. Many Others, use if relevant: Journey Stage, Purchase Behavior, Engagement Level, etc.
5. Psychographic Segmentation also possible: Values, Activity, Behavior, Interest, Attitude, Opinion

“
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Funnel Analysis

1. AIDA: Awareness, Interest, Desire and Action


2. Mapping the journey of the user through the product to identify problems
3. Awareness measured by adoption metrics
4. Interest by engagement metrics
5. Desire and Action by Task Success metrics
6. Identify where the user is dropping off- can offer be made at that point to convert A to I to D to A
7. Example: e-commerce
a. App Install, App Launch: awareness
b. Search in the catalog: Interest
c. Add to cart: Desire
d. Pay and Checkout: Action

“
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Making PRDs quantitative

1. Data Driven decisions


2. Data driven business cases
3. Pivots and Improvements
4. Template:
a. Background/Context
b. Customer Pain Points
c. Problem statement/s
d. Solution Design
e. Timelines/Planning
f. Success Metrics/Exit Criteria
g. Appendix: any risks, dependencies, stakeholder list, research data, etc.

“
Thank You

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