Book Image

Growth Product Manager's Handbook

By : Eve Chen
Book Image

Growth Product Manager's Handbook

By: Eve Chen

Overview of this book

In the dynamic landscape of modern product management, professionals face a myriad of challenges, spanning customer acquisition, monetization, user retention, competition, and technical expertise. To overcome these hurdles, this book crystalizes growth strategies that revolve around harnessing the power of data, experimentation, and user insights to drive growth for a product. This handbook serves as your guide to exploring the essential growth product management models and their applications in various contexts, unveiling their role in enhancing revenue performance and customer retention. Along the way, actionable steps will steer you in implementing these models while helping you better understand your users, experiment with new features and marketing strategies, and measure the impact of your efforts, ultimately guiding you to achieve your customer retention and lifetime customer goals. By the end of this book, you’ll have gained advanced insights into growth product management, models, and growth strategies, and when and how to use them to achieve customer-for-life goals and optimized revenue performance.
Table of Contents (19 chapters)
1
Part 1: A User-Centric Management Strategy
5
Part 2: Demonstrating Your Product’s Value
9
Part 3: A Successful Product-Focused Strategy
13
Part 4: Winning the Battle and the War

Maintaining High Customer Retention Rates

You have probably heard of the saying “Acquiring a new customer can cost five times more than retaining an existing customer.” As we venture further into the world of growth product management, we find ourselves in Chapter 10, a chapter that unveils the art of Maintaining High Customer Retention Rates.

In the ever-evolving marketplace, where innovation and competition are constant, customer retention stands as the linchpin of sustainable growth. It is not merely an option but a necessity in this landscape. Customer churn—the silent enemy—can deplete profits and stifle progress. This is where growth product managers step into the spotlight. They must embrace the significance of customer retention—not just to save customers but as a defense against the costly repercussions of churn.

In this chapter, we will explore the critical skills that growth product managers must cultivate to thrive in this arena...