Ron Yang’s Post

You know you have product market fit when...

Here's a stat you might not know. According to research by Bain & Company, a 5% increase in customer retention generates more than a 25% boost in profit. Let me repeat -- a 5% increase in customer retention generates more than a 25% boost in profit. Now check out your 2024 roadmap. Are you placing enough focus on retaining your customers?

For my product marketing friends, here’s a great opportunity to enable brands to connect more deeply with their followers and customers. #productmarketingjobs

It's a wonderful time of year. And that time of year is strategic planning. Here are key tips to keep in mind as you set your winning 2024 strategy. ⚫ No company can do everything well ⚫ Strategy is about choosing where to play and where not to play ⚫ Pick the place where you have an opportunity to win. This is not about 2nd or 3rd place. ⚫ Choose to serve your ideal customer extremely well. And don't worry about the others. ⚫ Define who that ideal customer is, down to a T. ⚫ Copying your competitor is not a strategy

This isn't an image I expected to share on LinkedIn today. But so goes it. I recently went to a fancy steakhouse. We went there to celebrate an occasion and got a delicious steak. But what made it unique and special is that before the steak arrived, the waiter came by and offered a steak knife of my choosing. He came by with a snazzy selection and shared the pros and cons of each. It made an already great dinner, even better. It was a delighter. So I ask you -- What are you doing in your product today to delight your customers? #productmanagement #delight

Many product leaders I connect with see product strategy as a method of stating what goals and areas a team will focus on, in order to reach the vision. They're not wrong. But I see it in a slightly different light. Yes - product strategy states where you will focus your attention. But more importantly, the best product strategy makes it clear where you will NOT focus your attention. And makes it easy for anyone in an organization to see this. There's always more ideas than what you will actually do. Your strategy needs to help people wade through the ideas and focus on the ones that are most relevant. Your strategy needs to help your team understand when to say no. Your strategy needs to help your team to focus on what truly matters. #productmgmt #strategy

Have you spoken to a non-customer today? Yes - as product managers, your customers are the people you serve. They are the people you want to become better versions of themselves. It's no wonder that great product managers spend so much time talking to them and understanding them. But the best product managers don't focus all of their time here. The best product managers spend time talking to their non-customers. The people who tried their product but did not become a customer. As you optimize your PLG motions and aim to improve your conversion rates, the best advice I can offer is spend time with your non-customers. These are the 90% of people who try your product each month but do not convert. 🥇 Understand what their pain points are 🥈 Understand their perception of your product 🥉 Understand where you fell short In some cases, you'll learn that they were simply not the right target. But in many other cases, you'll learn what it takes to expand your customer base. What other PLG tips do you have? #plg #productledgrowth

Great opportunity for product leaders looking to change things up. Aplos is hiring a VP of Product to help change the world and empower non-profits to focus on their core mission. This is a key leadership role in the organization. Hit me up if this sounds interesting or if you know anyone great for this role. #hiring #productmanagement

Great rundown on the key differences for how best to approach product data analysis for B2B vs. B2C. While the best PMs will dig in and learn many different models, this shows one key benefit to hiring a PM with B2B experience for your B2B product.