In the ever-evolving realm of product management, the role of data has become increasingly pivotal. ProductCon recently hosted a panel of industry experts who delved into the intricacies of data-driven customer growth, shedding light on best practices, pitfalls, and the future of the industry.

The Journey to Data-Driven Growth

The panel was moderated by WEVO’s CEO Nitzan Shaer, consisting of Debbie Braney (SVP of Global Marketing at Glassbox), Rachel Obstler (CPO at Heap), and Kyle Kolich (VP and GM of Product at Zuora). They shared valuable insights into the journey of data-driven customer growth. The overarching theme was the idea that data-driven growth is not just about accumulating data but a continuous journey of finding and utilizing more data as products mature. Rachel emphasized the importance of focusing on outcomes rather than outputs, driving product adoption and user engagement.

Segmentation Strategies for Success

The discussion pivoted to segmentation strategies, a crucial aspect of data-driven decision-making. Panelists highlighted the significance of behavioral segmentation, going beyond traditional demographic divisions. Debbie stressed the need to analyze customer satisfaction, struggle scores, and behavioral patterns to gain a more complete understanding of user dynamics. Kyle brought attention to the differences in approaching B2C and B2B segments, emphasizing the importance of aligning metrics across functions for a more holistic view.

Overcoming Challenges in Data Adoption

Addressing cultural obstacles to adopting data-driven systems, the panelists underscored the need for a mindset shift within organizations. Rachel emphasized the importance of attacking both the tooling and the people/process aspects of data adoption. Kyle highlighted the role of strong hypotheses backed by data in overcoming barriers, making a case for the art and science of product management.

Best Practices and Pitfalls in Data Analysis

The discussion touched upon best practices for effective data analysis. Debbie emphasized the significance of focusing on “why” rather than just “what” is happening. Rachel highlighted the collaborative nature of data analysis, emphasizing the value of team collaboration and leveraging analytics teams. Kyle introduced the concept of “following the money” as a powerful data type, tracking customer spending across products to identify valuable trends.

The Future of Data and Product Management

Looking towards the future, the panelists envisioned a landscape where data becomes more accessible to business users. Debbie anticipated the democratization of data through AI, enabling faster insights and optimizations. Rachel added a cautionary note, stressing the need for responsible use of AI to avoid misunderstandings. Kyle foresaw AI playing a more significant role in generating and iterating ideas, aiding the creative side of product management.

Conclusion

As the ProductCon panel discussion concluded, attendees were encouraged to explore booths showcasing tools like WEVO AI for instant feedback. The insights shared by the panelists painted a picture of an industry where the fusion of data and AI not only accelerates analytics but also fuels creativity in product development. The journey to data-driven growth, with its challenges and triumphs, continues to shape the future of product management.

The ProductCon panel provided a snapshot of the dynamic interplay between data, technology, and human intuition, offering a roadmap for product managers navigating the data-driven landscape.