What is product validation and why does it matter скачать в хорошем качестве

What is product validation and why does it matter

🎯 Video Summary: Validating Feature Value in Product Development 📘 Introduction: Understanding Feature Validation Why Validate Features? When developing a product, it's crucial to ensure that the features you add provide real value to both the customers and the business. Without validation, you might end up with features that, while closing deals, ultimately fragment the product and fail to serve the users effectively. 🔍 Key Concepts in Feature Validation 1. 💡 Assumed Value vs. Actual Value: Sales-driven features often get added to products to close deals, but these features might not align with long-term user needs or product goals. The challenge lies in distinguishing between features that close a deal and those that truly add value over time. 2. 💰 The Cost of Poor Validation: Adding a feature to close a $30,000 deal might seem beneficial, but if that feature costs $100,000 in support and maintenance over time and doesn't attract more customers, it’s a net loss. Sales teams may push for features that close deals because their incentives are tied to immediate revenue, not long-term value. 3. 📈 Shifting to Value-Based Metrics: Organizations can benefit from changing how they measure success. For example, Microsoft shifted Azure salespeople's bonuses from the amount sold to the amount used by customers, aligning incentives with customer satisfaction and long-term value. 🚀 Best Practices for Feature Validation 1. 🔄 Hypothesis-Driven Engineering: Before adding a feature, create a hypothesis about the expected outcome. For instance, if you believe adding a Facebook login will increase user sign-ups, define the metrics that will prove or disprove this hypothesis. Collect data to measure the impact of the feature, such as the percentage of users who choose Facebook login and the overall increase in new users. 2. 🧪 Experimentation and Telemetry: Implement telemetry to track feature usage and validate whether the feature is delivering the expected value. Use this data to make informed decisions about continuing, pivoting, or removing features. 3. 📊 Push Back on Unvalidated Features: Encourage teams to challenge the addition of features by asking for a clear hypothesis and understanding the potential long-term costs. Validate features incrementally and be willing to halt further investment if early data shows the feature isn’t performing as expected. The Importance of Data in Decision Making The Cost of Wasted Features: Data shows that only 35% of features in products are actually used by customers, meaning that a significant portion of development efforts may be wasted. This statistic highlights the importance of validating features before fully committing to them. Making Informed Decisions: Product managers and teams need to use data to assess feature usage continuously. Decisions about whether to double down on, pivot, or remove features should be based on solid evidence, not assumptions. Conclusion: Emphasizing Validation in Product Development Validation as a Core Practice: Validation is crucial to ensuring that the features you add to your product provide the intended value. By focusing on evidence-based decisions, you can reduce waste, enhance user satisfaction, and drive long-term product success. Call to Action: Start integrating telemetry into your product, develop a culture of hypothesis-driven development, and push for validation at every step of the product lifecycle. Visit https://www.nkdagility.com to explore how our #productevelopment mentorship program and Professional Product Discovery and Validation program can help you thrive. #agile #scrum #agile