Product Management @ VivaReal

The Founder Institute – Medellín

July 2013

Brief on VivaReal

Why Product Management?

• VivaReal had grown from holding a legacy Web App:– Release of significant refactors to the Web app (BBJS +

API)– Release of iPad & iPhone Apps– Repurpose of the “Listing Alerts”– Updates to PUBLISHER oriented products

• Feeds• Reports• Commercial integraction (BI + Salesforce)

• “Single minded focus” should back product decisions

Apps have a “UX of their own”

Pointers on Product Management

• Product Management needs its space• Project Mngmnt is not the same as Product Mngmnt• Think Why, Who and How - Keep specs simple• You are NOT the single source of product definitions• Understanding Users is KEY to product success • Your goals need visible & relevant KPIs

Prod Mngrs need their space

• The key roles of product managers are:– Assessign product oportunities– Defining the product to be built– Understanding users better than anyone else

• These roles are NOT the roles of:– UX Leads (who come up with useful and productive navs)– Project Managers (who set controls to guarantee releases)– Engineering (who actually build the product)– Platform Ops (who keep the sites running)– Product Marketing (who tell the world about the product)

Project is NOT Product Mngment

• The Product Manager should focus on the discovery

and success of the “features” released while the…• Project Manager should focus on releasing the

specified products• If the ROLE is MIXED,– Release management will take up valuable time off

product specs and tracking– Product definition will take a secondary role

• Releases are now responsibility of the DEV Team

Key to success is Prioritizing!

• Assessing opportunities is KEY:– Is the COST worth the EFFORT or the BENEFITS?– Is it the RIGHT TIME to move forward with the initiative?– Do you understand what you’re trying to solve?

• Writing long specs is not:– Going to help you secure the project’s release– Ease the team’s production during the build

• Document if it uncovers risks, helps trigger

conversations or sets baselines for followup

You are NOT a GURU

“Never tell people how to do things. Tell them what to do, and they will

surprise you with their ingenuity.”

General George S. Patton, Jr.

How are you tracking?

• Sources of conversion tracking may include:

• Conversions (users) are the bread and butter of PMs!

Are your KPIs RELEVANT?

Description Basis for Comparison

Lead per Type How many leads are being generated (eLeads & Phone)

Week over Week

Leads / Traffic What is the conversion of traffic into leads

Daily

Total Daily Visits

Popularity on a regional and national basis

Daily / Monthly

Cost per Lead On a “per client” basis, how much does a lead cost?

Competitor cost per lead rates

Traffic from 3rd Party Sources

How much traffic do third party sites generate for us

Weekly

Questions or Comments?

fortega@vivareal.com@orteganieto