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Netflix Product Strategy
This thread is my learnings from @gibsonbiddle (one of my biggest role models for Product Strategy) about how Netflix manages product strategy.
Dive in
1/ What is a strategy?
‘a route to continuing power in a significant market’ ~ Hamilton Mehler
This thread is my learnings from @gibsonbiddle (one of my biggest role models for Product Strategy) about how Netflix manages product strategy.
Dive in
1/ What is a strategy?
‘a route to continuing power in a significant market’ ~ Hamilton Mehler
2/Framework:
All strategy must fall in the framework you follow. Let us study DHM model which Netflix follows. (They follow more models)
- Delight
- Hard to Copy
- Margin Enhancing.
All the product strategies should fit in this framework. Else it’s a No.
All strategy must fall in the framework you follow. Let us study DHM model which Netflix follows. (They follow more models)
- Delight
- Hard to Copy
- Margin Enhancing.
All the product strategies should fit in this framework. Else it’s a No.
3/ Hypothesis:
A hypothesis should fits in 2-3 legs of DHM.
Let’s take 2 hypothesis -
1. Personalisation : Offer customised results to individual users.
2. Easy - Navigational experience to be easy for first time and repeat users.
Check this to understand better
A hypothesis should fits in 2-3 legs of DHM.
Let’s take 2 hypothesis -
1. Personalisation : Offer customised results to individual users.
2. Easy - Navigational experience to be easy for first time and repeat users.
Check this to understand better
4/
If this hypothesis fits in the DHM framework, this becomes a part of Product Strategy.
Also means, team undertakes these 2 product developments.
If this hypothesis fits in the DHM framework, this becomes a part of Product Strategy.
Also means, team undertakes these 2 product developments.
5/
Define Metrics and Tactics:
- Metrics to track the success of the strategy.
- Tactics to show how to achieve those metrics. This is how
Define Metrics and Tactics:
- Metrics to track the success of the strategy.
- Tactics to show how to achieve those metrics. This is how
6/
Proxy Metrics: crucial.
Your respective product metric must lead to success of company’s overall metric - the North Star.
For every product metric, there should be an additional metric which is a proxy for North Star.
North Star for Netflix was “Customer Retention”.
Proxy Metrics: crucial.
Your respective product metric must lead to success of company’s overall metric - the North Star.
For every product metric, there should be an additional metric which is a proxy for North Star.
North Star for Netflix was “Customer Retention”.
7/
Product Roadmap
It expresses your product strategy.
Defines the estimates on timelines of the products (quarterly/monthly/yearly).
Netflix does it on a quarterly basis
Product Roadmap
It expresses your product strategy.
Defines the estimates on timelines of the products (quarterly/monthly/yearly).
Netflix does it on a quarterly basis
8/
Long term roadmap:
We are here for a long game. The short term road map should lead to long term vision.
How do you define long term vision?
Netflix follows GLE here -
G - Get Big
L - Lead
E - Expand worldwide
Long term roadmap:
We are here for a long game. The short term road map should lead to long term vision.
How do you define long term vision?
Netflix follows GLE here -
G - Get Big
L - Lead
E - Expand worldwide
9/
Maintain the momentum:
So product strategy is working well.
How do you keep this aligned when you are growing at a rate of 30% Y-o-Y.
Netflix follows an interesting model for this.
I shall add this strategy to this thread in coming week.
Point out the mistakes.
Maintain the momentum:
So product strategy is working well.
How do you keep this aligned when you are growing at a rate of 30% Y-o-Y.
Netflix follows an interesting model for this.
I shall add this strategy to this thread in coming week.
Point out the mistakes.
