When you're in the early stages of building a business, you need to move quickly. But when you're testing growth channels, there is a difference between moving quickly and freaking out.

In this episode of the InDemand podcast, host Asia Orangio, founder of DemandMaven, uncovers the pitfalls that teams can fall into when reacting to quantitative results.

She covers the mistakes that founders make when reacting to experiments and how to set yourself up for success when running tests and reacting to the results.

TL;DL

0:22 - Don't freak out about bad numbers. Early technical founders have a tendency to overreact to test data from marketing and growth campaigns. But in growth you're working with humans, not code, and you can't always trust immediate results.

4:35 - A one to two week experiment with low spend on a growth channel likely won't show you a clear result. If you react to it you might be missing a big opportunity.

8:00 - A company Asia worked with was testing out a video demo option. After one week and getting two requests for the video the team was resigned to the fact that it wasn't working, but after waiting it turned out that having the video was actually increasing the number of prospects entering the pipeline.

12:45 - You always have to remember that quantitative outputs can tell you 'what', but can't tell you 'why'. Before you react, you have to pause and dig deeper to understand what is driving the numbers.

20:07 - When you're running a test, the sample size matters. You need a large enough volume of results to be able to trust the results. There is a natural variance in the results you get and if you end an experiment early you might just be seeing variance.

Customer research is a critical part of growth. However many teams and founders make big mistakes when they do their research. What are the mistakes you need to avoid?

In this episode of the InDemand podcast, Asia Orangio, founder of DemandMaven, highlights the most common mistakes in conducting customer research and gives examples of how to avoid them.

If you haven’t already, sign up for The Work, a weekly newsletter: https://demandmaven.substack.com/

TL;DL

1:03 - Mistake one, not setting clear goals for research. You'll always have a trigger that makes you decide to do the research, but you should also have a clear goal. For example, "I want to understand who churns and why"

6:03 - Mistake two, not interviewing the right people. When you conduct your research, make sure that it's very clear who the target audiences are going to be and that it aligns with your ultimate goals and hypothesis of the research.

10:58 - Mistake three, over-talking in interviews. Too much talking makes your research subjects want to agree. You might end up with a lot of camaraderie, but you'll probably not get the most valuable information.

14:05 - Mistake four, asking leading questions. Giving a hint of the answers you want to hear makes it more likely you'll hear that answer and not an answer that may surprise you and point to an issue you're not aware of.

21:48 - Mistake five, accepting vague answers. This is the one that founders are most susceptible to. For example, "What I liked about the product was that it was easy to use". An answer like that should be followed up on to find out specifically what they mean. Terms like: it was easier, it was faster, it was better, it was stressful, it was annoying, it was confusing, it was flexible, it was seamless are triggers where you should dig deeper.

33:58 Mistake six, if you don't need to, don't incentivize people for your interviews. In some situations, you will need to have an incentive to get people. But if you're talking to your customers, don't give an incentive. It makes it more likely that you'll get people who don't really want to talk to you and just want the incentive.

34:20 - Mistake seven, not having a feedback process after interviews. After you do your research, it's key to not only have bullet point results for the founders and executives but also a detailed review of the process and learnings for the entire team.

Product management isn’t easy. And the reality is some founders just aren’t that good at it.

In this episode, Asia Orangio, CEO of DemandMaven, discusses the importance of effective product management in growth and why striving for 'quality of life improvements' - small tweaks to existing features - over 'value generators' - hurts growth.

If you haven't seen it, check out The Work, a weekly newsletter: https://demandmaven.substack.com/

Timeline:

1:33 - Product management is ultimately the process of determining and prioritizing what features to build, what value to provide and deciding how to actually get that done. It is not order taking.

5:00 - Customers are not good at telling you what to build or why they want you to build something. If you are just approaching product management as taking orders from your customers you will often be led astray.

6:40 - Customers are usually in a solution space, as a great p roduct manager you need to get in the problem space (build a car and not a faster horse).

10:30 - Asking your customers "why?" can lead you to ideas for better solutions to their problems. Instead of just building features based on a customer request, ask "What is it that you're trying to accomplish? What does that help you do?"

13:00 - When you are too focused on the solutions space you build quality of life improvements, but not value generators.

16:00 - If you only make quality of life improvements, customers will eventually leave for another product that has more impactful value generators.

23:30 - If you have a revenue cohort retention rate of 40-70% the reason is likely related to your product and it is a key signal to start thinking about your product management.

26:45 - Recomendations for product management: Reforge, Continous Discovery Habits by Teresa Torres, Escaping The Build Trap by Melissa Perry