Gustaf Alströmer product lead growth in airbnb in 5 years 2 → 100people
“If you build it, they will come”. → “If you build it, they won’t come”
Do things that dont scale. Talk to your users and watch them use your product.
How to use data to understand if you’ve made something people want ?
- Identify the metric that represent the value my users get from the product
- Measure the repeat usage of that metric
Retention is the best way to measure PMF
Other (worse way) to measure PMF :
- Net promoter score - not great
- Survey - often biased
- “How would u feel if u can no longer use the product?”
Bad metric for PMF :
- Registered users
- Visitors
- “Conversion rate”
- “Customers that aren’t paying”
Two ways to grow at scale :
- Product Growth / Conversion rate optimization (inside the app)
- Growth Channels (outside the app)
Product is a funnel / growth loop - Every step in the funnel have drop-off
Exemple :
At airbnb P1 (home) P2 (search result) P3 (listing page) P4 (booking page).
%people P1 → P4
The job is to figure out :
- How many people make it that far?
- Why are they dropping off ?
- What can I do to increase that number?
Conversion rate optimization areas :
- Internationalization
- Authentification flow
- Onboarding
- Purchase conversion
Growth channels to explore :
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- Don’t do paid growth if u don’t have revenue
- CAC = Customer Acquisition Cost
- CAC / Payback time (Most important metric in online marketing)
SEO - two main levers :
- On page optimization
- Every optimization starts with keyword research
- Which page am i trying to rank ?
- Off-page optimization
- Who is linking to you?
Lunch 2 versions in same time, analyse and make choose the best version
A/B-Test Calculator - Power & Significance - ABTestGuide.com
- Start by doing things that don’t scale
- Measure your retention / PMF
- Build a culture of experimentation