Hosting more than 100+ speakers from across brands from product, design and marketing, Day 1 of ‘The Makers Summit’ kick-started with a keynote session on ‘How India win-wins in the future’ that focused on how cryptocurrency is truly a breakthrough to the world.
As the stage is set for top minds to share their experiences and knowledge, you can pick on these actionable insights for building high-growth products for Bharat.
In the masterclass by John Culter, Amplitude on ‘Exploring the North Star Metric’ he builds up on the importance of linking the north star metric to product team KPIs and how to build a product roadmap around the north star metric.
The session covered by Ankush Sachdeva (CEO & Co-founder at ShareChat) brought to light some rather interesting takes on ‘Building India’s AI Powered Content Engine’ and talked about how a platform built with state of the art technology for creative expression actually led to increase in content creation from their camera by as much as 25%. In another creative case of AI content creation, AI generated Shayari, on average, had the highest engagement rate. This truly has set the motion for the innovative ways to drive up engagement in social media platforms and much more.
Simultaneously, in a panel discussion on ‘How products are re-shaping India’s financial services’, leaders from IndiaMoney, Edelweiss, ETMoney and INDMoney talked about incidents where working on rejected leads from other fintech credit providers turned junk into gold for them to drive customer acquisition (as highlighted by Deepak Abbot). Further discussions took place on how the Fintech world is adopting a freemium model where a certain percentage of users end up subscribing to a product and how conversion rates become the key metric that is chased and how many subscribers can brands actually retain.
Moving ahead, in yet another panel of top minds from leading B2C brands like Dunzo, Swiggy, Lightspeed India, JustDial and MakeMyTrip some major insights were captured on ‘Using powerful product positioning to scale products for Bharat’ . The session decoded some strategies and experiments that laid the foundation of these giants.
The forum commonly agreed on the significance of having right marketing strategies that help acquire customers for them. Specific insights on design and UX in building sticky products, has been highlighted.
Building on this Shivangi Srivastava (GM New initiatives at Swiggy) very rightly points out how apps should look different for different segments of users. Something as basic as the colour also goes a long way in determining how users view an app. While there are contextual walk-throughs and nudges that facilitate user on-boarding, apps need to be careful of not hampering the users experience while they’re on the app. Talking about Indian users, she also highlighted the fact that words like free/freemium/free trial works well in attracting users and that’s something apps need to communicate explicitly to their users.
Now, talking about how PMs can now be independent in the era of product led growth, Kedar Parikh speaks about how products have become the main channel for acquisition and retention and offering an exceptional product experience is a must. The on-going no-code/low-code revolution is what enables PMs to independently deploy contextual nudges & walkthroughs to improve retention and enhance other key metrics.
Further conversations built around product market fit, the product roadmap for gaming in Bharat and the secret sauce for monetizing Indian users. Sai (CEO & co-founder of MPL) on how the gaming industry is larger than the hollywood and music industry combined, in the US whereas it is a relatively growing industry in India with a lot of potential. He also sheds some light on how the referral loop works for gaming brands and how brands need to filter their quality users from the rest and focus their efforts on enhancing the app journey of these quality users.
Talking about how rolling out A/B testing for features helps brands understand what would work and what wouldn’t work for them, Abhinav Kumar (VP, Product Marketing at Paytm) elaborates on the successful Trivago ad and how A/B testing played a major role in that.
Yet another statement that sparked everyone’s interest was made by Gaurav Munjal (Co-founder & CEO at Unacademy) who said that every product has one feature that it’s good at and every product guy works to discover that one feature that drives the product.
Day 1 has set the momentum to further build upon these insights gathered and has successfully empowered brands with the knowledge they need to kick-off their journey on building a successful product with all the innovative, ground-breaking tools at their disposal.
