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Situation:

We had a currency exchange product that allowed customers to trade with a bank for the best rates. This product was unique in the local market. However, only a small number of customers were using it.

Task:

The challenge was that the product owner believed this was the most innovative product on the market and wanted me to launch a marketing campaign quickly to acquire new customers. However, I knew that the product was still relatively new, and before we launched the campaign, it was crucial to understand why customers weren't using it. I believed we needed to gather insights from customers to better position the product and craft the right messaging.

Action:

I negotiated with the product owner to postpone the marketing campaign and proposed conducting customer research first. Since the product was new, I felt we needed to gather feedback to understand customers' hesitations and identify any issues. This would help us refine the product and base the marketing campaign on real customer insights.

Result:

As a result, the product owner agreed to conduct a survey, which revealed that there were bugs in the product preventing customers from using it properly. Prodcut owner realized that we needed to address these issues before launching a marketing campaign. This approach not only saved the marketing budget from being spent ineffectively but also highlighted the product’s need for refinement to work as intended.

Turning customer feedback into actionable requirements for product. I enjoy working closely with prospects and customers to understand their pain points in their own words and then collaborating with the product team to create unique solutions to address these needs.

Product Managers continuously face the tough job of prioritizing which are the greatest opportunities to go after which have the best long-term strategic advantage for the business.  When economic times are good there is less of an immediate need for ROI and strategists can take a longer term view of where the industry is going, take bigger bets, fail fast and pivot. However, in lean economic times, choices can be constrained by what can make the next quarter's numbers, and decisions are short term, lead to product and tech debt, and fewer resources to execute at the same quality. The hardest part of a PM's job is to know when to throttle up to the larger, long-term view, and when to scale back to the shorter-term execution view, doing the same or more with less, or taking the bigger bet to lead ahead of the competiton. 

I would love to see a self-sorting recycling and trash bin that fits on any street corner to effectively bifurcate anything a person threw in to it into recyclable, compostable, or waste.  Too often people are confused, lazy, or don't notice the recycling option when disposing of waste. I estimate that 10-20% of all truly recyclable material is lost because of the lack of an efficient sorting process at the trash site.   This product has a few value propositions, depending on the end customer. Firstly, waste management and recycling centers will have lower operations costs because fewer people will have to manually sift through the trash to pull out the valuable recyclable materials.   Landfills, run by municipalities,  will have potentially 10-20% less recyclable waste take up space for non recyclable material. Lastly, people who use the self-sorting trash bins can watch their trash going down one path or another, and learn about what materials are recyclable and which are not.  The campaign to market this would be focused on the waste managers who could reduce their operational overhead by 10-20% with less personnel, and the municipalities who have to pay to have their trash transported to other states or overseas and can no transport 10-20% less volume.