How to run a Product Review at your company. [Process]
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This week, we’ve been working on something exciting called the “Product Reviews”. It is a five day process in which we take an existing product of a customer and check the areas of improvements and usability issues. Our product for this week was a large platform which handles a ton of data to provide analytics to their users.
Product Review is a process that allows us to find the features that are missing, the ones that are out of date and review the metrics for usability. The process that we follow has allowed us to find business critical gaps in products, and also gives us a direction to fix those issues.
Product Review is a service that Skcript offers to its customers. If you believe your product needs improvements, you know you should click here.
When do you need a Product Review#when-do-you-need-a-product-review
Before I start talking about the process, let me give you a quick example of when you would need a Product Review:
- Churn rate is too high
- MRR (Monthly Recurring Revenue) growth is too low
- ARR (Annual Recurring Revenue) growth is too low
- ARPA (Average Revenue per Account per month) is too low
- Bounce rate is too high
- User Stickiness is too low
- User Engagement is too low
Product Review Process#product-review-process
- Data Collection & Validation; before any product review process, the first thing our team does is to collect as much analytics data as possible from the existing customer base. This gives a sense of what has worked, what failed and where to focus on;
- Creative Brief;
What you get from a Product Review Process#what-you-get-from-a-product-review-process
- Clarity on what works and what does not work in your product
- Deeper understanding about your users
- A huge list of things to improve in your product
We’ve been running Product Reviews for many companies, and if you would like to leave it to the experts to run your Product Review, talk to us.