10 Popular Product Frameworks - A brief guide
- URL: https://medium.com/@dikshapatrob/10-popular-product-frameworks-a-brief-guide-66494bdc7537
- Published Date: 2022-07-27
- Author: [[Diksha Patro B.]]
North Star Metric
A product can have more than 1 North Star Metric.
critical purposes of NSM
- Clarity and Alignment on what to optimize for
- Communicate impact and progress to the rest of the team.
- Holds product accountable to an outcome.
Two main parts
- Product vision statement.
- The key metric that serves the current product strategy.
Jobs to be Done (JTBD)
- “Job” → Goal of an individual in a given situation.
- Three parts 1. When (situation). 2. I want to (motivation). 3. So I can (expected outcome).
- Jobs getting done
- The Core Functional Job.
- Related Jobs.
- Emotional Jobs.
- Consumption Chain Jobs.
- Purchase Decision Job.
- Source(s): blackboxofpm
Develop product strategy on 3 inputs:
- What the real goal is?
- What environment around them is signaling (market+customer signals)?
- What people, money, and time constraints exist?
The Hook Model
Three core motivators of a behavior:
- Avoiding pain and seeking pleasure.
- Avoiding fear and seeking hope.
- Avoiding social rejection and seeking social acceptance.
AARRR (Pirate Metrics) — Product Analytics
- Acronym for five user behavior metrics.
- Also known as Pirate Metrics
User behavior metrics to be tracked:
- A — Acquisition (How do users find you?).
- A — Activation: The core value of the Product is tested (Do users have a great first experience?).
- R — Retention (Do users come back?).
- R — Revenue (How do you make money?).
- R — Referral (Do users tell others?).
HEART - UX and Product Decisions
Categories of HEART framework:
- H for Happiness — Measures user attitudes like Net Promoter Score, Satisfaction, etc.
- E for Engagement — Measures the level of user involvement like frequency and intensity.
- A for Adoption — Measures the rate at which new users join a product or feature.
- R for Retention — Rate at which existing users return to a product or feature.
- T for Task Success — Measures user experience behaviors like efficiency, effectiveness, and error rate.
RICE Scoring Model— Prioritization
Four factors: Reach, Impact, Confidence, and Effort.
RICE Score (total impact per time worked) = (REACH x IMPACT x CONFIDENCE)/(EFFORT)
R — Reach:
- Answering — How many people each project will affect in a given time period?
- To avoid bias.
- Measured using the estimated number of events/people per time period.
- Use reach measurements.
I — Impact
- To beat the tangled mess of gut feeling.
- Measured using impact on an individual person.
Scoring 3 = massive impact 2 = high impact 1 = medium impact 0.5 = low impact 0.25 = minimal impact
C — Confidence
- To curb enthusiasm for ill-defined ideas.
- Answering — How much support do you really have for your estimates? Scoring 100% = high confidence 80% = medium confidence 50% = low confidence nil = moonshot
E — Effort
- Measured in person months.
- Measures the work that a person can do in a month.
M — Must-have
Non-negotiable product needs that are mandatory for the team.
S — Should-have
Important initiatives that are not vital, but add significant value.
C — Could-have
Nice to have initiatives that will have a small impact if left out.
W — Will-not-have
Initiatives that are not of priority for this specific time frame.
CIRCLES - Product Design
C - Comprehend the situation
I - Identify users
R - Report Customer Needs
C - Cut through prioritization
L - List solutions
E - Evaluate Tradeoffs
S - Summarize recommendations
STAR/SOAR - Storytelling
- For creating a meaningful story of a previous work experience.
- Tell stories about accomplishments in general.
- STAR — Situation, Task, Action, Result / SOAR — Situation, Objectives & Obstacles, Action, Result.
S — Situation
Lay out a situation and give the required details.
T — Task
- Highlight the task and the responsibility given to you.
- Mention any obstacles that you faced.
A — Action
- How you took the action.
- Mention important steps related to it.
R — Result
Discuss the outcomes and results of your activities related to the given situation.
Notes mentioning this note
10 popular product frameworks a brief guide
10 Popular Product Frameworks - A brief guide Metadata URL: https://medium.com/@dikshapatrob/10-popular-product-frameworks-a-brief-guide-66494bdc7537 Published Date: 2022-07-27 Author: [[Diksha Patro B.]]