Growth Formula for Mobile Products

Speech by Evgeny Lisovsky (CEO Maps.me ) at the Epic Growth Conference product marketing conference organized by Mobio and Getloyal with the support of Appsflyer and myTarget .



In his speech, Yevgeny Lisovsky spoke about the main criteria that affect the growth of mobile products. Watch the video or read the brief notes below.
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If you try to derive the average growth formula for mobile products, it would look like this:

Product = Team * DNA * Analytics * (UA + RR + CLV) * WW

We analyze separately all the components.

Team

The team is the basis of the basics. The team must have one at all values. One common goal. One vision. One direction. Only under these circumstances will it be possible to move forward progressively. While it is extremely important for managers to suppress their ego and desire to be a superexpert.

The leader is the one who is responsible for the strength of his team. Develop, train employees - this is an investment that will provide a breakthrough for your business.

The backbone of the team: CMO + CTO - Marketing Director + Technical Director. The head is important to be able to reconcile them. The combination of technical background and marketing vision is very productive and useful for the development of the project.

Product DNA

Product DNA characterizes the core values ​​of the company as a whole. On the example of Maps.me: Maps.me are maps, but they cannot be compared with Google Maps. And all because Maps.me is maps only for travelers. Nor can they be compared with Tripadvisor, since the latter does not provide geo maps. In total, Maps.me is the leader among offline travel maps. They found their unique niche and rebuilt from competitors.
A prerequisite for ensuring effective strategic leadership is a long-term vision of product development.

Analytics

The success of the mobile application is not based on magic. All that we see is the tip of the iceberg; the basis for everything is qualitative analytics. Maps.me has product analytics based on turtles such as: Retention, Monetization, UA, and Proximity to product DNA. A business model with cohorts in the company is scheduled until 2019.
Every month, Maps.me conducts a large user survey and combines this with feedback from the support service. User surveys help to understand more about your own product, about the advantages and disadvantages.

UA, RR and CLV

Maps.me achieved 2 million organic installations per month. Organic grows with the product. Social features that are integrated into the application, only increase the growth of organic matter. But here it is important to keep a balance of monetization with the RR product.
Quick wins is another feature to enhance RR that guys practice. Quick wins - quick decisions that bring quick results. But this should not be too much focus, as quick wins distract from the strategic development of the product.
Never stop working on monetization, always try to expand the funnel.

Scaling

Translate your application into other languages. The more language versions, the more coverage. Use local providers.

In the end, once again fix the formula:

Product = Team * DNA * Analytics * (UA + RR + CLV) * WW

Read the decoding on vc.ru.

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