From the course: Data-Driven Product Management

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Product growth and acquisition strategy

Product growth and acquisition strategy

From the course: Data-Driven Product Management

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Product growth and acquisition strategy

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- [Presenter] For most products that aren't new, the ultimate goal is growth. Coming up with a product growth strategy is a collaboration between marketing, sales, and product management. It requires holistic thinking and of course a data-driven approach. When you're growing your product there are two areas you can develop, the market and your product. For each, you will have to ask if you need to go deeper into the existing product or the market, or if you want to explore new markets and new features entirely. A good product growth strategy encompasses your approach to both areas. Then you need to ask yourself, are you looking for more users, more usage, or more revenue? Depending on your answer, this will determine what metrics to measure and your approach. We'll go deeper into the importance of metrics and how to choose your approach and metrics in a later video. Suffice to say, this is the time to adopt them. If your goal is more users, you need to discover first if you really…

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