How to Build a Great Product Strategy

Automatic TRANSCRIPT

Today I wanted. I wanted to talk about something that I have found very valuable in my career. So far I have used a lot of these frameworks and a lot of these things to decide on how to build my product and how to strategize on how things should be digging to market and other aspects of it. So let's do the first sort of case study that I want to cover The Yours Twenty twelve. The company is Reliance Jio so let me let me add some context on on the market and company. I so reliance. Jio Is a Internet company in India Indonesia twelve they got the license for For Operating Four G. services throughout India India did not have four G. Services at that time name and so- GIO is really looking to make a big splash in this market. A little bit about the market itself. So India yeah at that time despite having one billion people only at one hundred thirty seven million Internet users so penetration was pretty low about eleven percent. It was growing pretty quick so twenty six percent year on year growth but still sort of a waste to go in terms of smartphone own Benadryl that was even lower so only sixty seven million smartphone users in India at that time about six percent of doral telecom users had smartphones at the time. So so here's here's my question based on all of that. What kind of Guy Chris? Thanks do you guys think would be the best selling points for the net brought up in this market and context six. Okay yeah okay. What else if you think of like four G.? Internetwork were what comes to mind first speed video. Yeah exactly so so. That's that's pretty much the the sort of lines that going on now you know fi- five speeds hard. We get this to more people low latency connectivity those kinds of things in terms of thinking of competitors who who do you think our main competitors would be in this market. Yeah Yeah Yup do G and three G service providers. Yeah Yeah so yup that that's kind of how we were thinking about our market and competitors at. Ah Dime this is. This is the list of Delegation players in India. At the time. How how would you segment the this this market in terms terms of customers? Like how would you decide what kind of customers to go for And you know like what kind of products bill for customer segments etcetera so. Yeah Okay Yeah. And so you're saying basically based on the industry or based on if it's a B. Two B. versus COSC-. Yeah okay. Yeah but I'm trying to get to a dimension or very level over this like what are the dimensions age is one thing. Yeah yeah over. New Rule like income levels those kinds of things so yeah all of those are the sort of demographic characteristics that we were looking at This is where we we sort of hit. Hit some roadblocks so we figured out all of this was wrong. We figured that and this was. It's not a novel concept if you when you look back on it but sort of thinking Ford. It's always something that you miss. Don't think about which is that. People don't want a jail because they want the drill. They want the drill because they want the whole right people want to hold. They don't want the drought so in the same way for us. What we realized is people don't want Internet? They want stuff that they can do with that. Internet smartphone penetration was only sixty million people. What what are we going to do by giving people for gene demand if they don't have smartphones if they don't have gone to undefeated if they don't have things the use that four G. Internet four so we started doing was instead of instead of segmenting our customers by Democrat demographics or products and services? We moved to this jobs to be done kind of framework and figuring out. What is the job that these customized need to get done that they wanted to hire Gio and the Internet for we started segmenting bull in terms of you know first time users people who want to buy the smartphone for this first first time people who love watching TV and they may be worn get more if the content side of things people want to connectivity? They won't let things like Connecting to their friends and family having high-speed video galling etc.. So should that's when we start. We shifted our mindset to thinking about. How do we move away from the guy at Christie's of Internet itself but we start talking about what is the the actual jobs to be done? That people were higher Gio for and that's that's what I talked about so so we talked about content. We talked about videos does overseers. We talked about Payment Solutions Shopping Devices all of those things and this is what we ended up launching and sort of actually building so twenty four dean. We launched a smartphone which was the cheapest smartphone. The one This this smartphone I think was about seventy dollars. Unlocked contract It it was the way to sort of build our our market because our market wasn't the one point two billion people in India the people who have smartphones and an ability to consume four G.. Internet so oh so. That's what we did. We only launched the the phone. We didn't even launch for services at this point. Two years later is when we launched a slew of applications nations. Gone Dan Services all of these things that will build on top of this new four G. Wound saying if yours all this great stuff if you WanNa take advantage of all of this stuff. The four G. is sort of the bare bones infrastructure which you need to get to these products and these jobs Do Redone so so just the close out. This case Gio ended up launching their telecom services in sixteen it was the fastest elegant launch success excess in the world We got one hundred million customers in the fourth one hundred eighty days of launch I think the GM was like last week and they. They're at three learned. Forty million now so that the second biggest alcon provider in the world today that's the that's the internet usage that so so all right when GIO launched went up NYNEX in in a matter of you know six months so the demand was there. People were willing to use the WH- we're willing to use the bandwidth as long as you give them something to do with that Before that people didn't have anything to do with with the content and with the bat. Excuse me with the bandwidth. That was out there. So so that's like the big shift that we saw in the market and then obviously below Like behind all of this was the content itself so we saw not just the GIO APPS but even competing providers see big spikes in their usage and the way that they were benefiting the market

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