Key Takeaways:
-Learn what are adaptive products and how to build them
-Discover ways of leveraging adaptive products to unlock personalized customer experiences
-How to use data loops to continuously optimize and improve these products
6. Agenda
u What is adaptive product?
u Components of adaptive product
u Data loops
u Personalization
u Bringing it all together!
7. A bit about myself...
Working in Expedia as Senior Product
Manager
9+ years of work experience
Focus areas include ML/AI powered
customer experiences & product
discovery, platform redesign
My interests include learning about new
products & technologies, travelling and
adventure activities
11. What is adaptive product?
Products which can be customised automatically and dynamically based
on user interactions and feedback.
Source: Ming Zeng, ‘Smart Business’
These are also called adaptable products.
23. What are Data Loops?
Data Loop is a continuous, iterative process of capturing and analysing data,
getting valuable insights, and using them to improve customer experiences.
Every iteration of this loop improves the experience for the current
customer or the next customer.
24. What are Data Loops?
Data loops form the core of the adaptive products.
25. Steps to create data loop
u Define the problem statement
u Build hypothesis
u Identify data sources
u Build algorithms which consume live data & provide relevant output
u Embed these algorithms in product with adaptable UX which changes based on
algo output
26. Datafication – Data Data Data…
All relevant data about user interactions, engagement & transactions is collected, stored and made
available in consumable format to algorithms.
u Page views
u Session data
u Product views
u Feature interactions
u Click through
u Funnel progression
u Conversion
u Bounces & exits
u Reviews
u Liked & saved
u User Preferences
u User Demographic profile
27. Value of data loops
u Improves customer retention
u Increases customer conversion
u Unlocks personalized experiences
u Unmatched competitive advantage
29. Personalization
Creating and/or modifying experiences for customers based on their preferences,
wants and needs.
Personalization means catering to marketplace of a single customer!
31. How to create personalized experiences?
Customer Product
• Customer profile
• Preferences
• Transaction history
• Engagement history
• Saved items
• Preferred channels
• Demographic profile
• Product tags &
categories
• Who bought this
product?
• Who engaged with
this product?
• Structured content &
content tags
• Other attributes
Who are you selling to? What are you selling?
Match
32. Personalization is hard!
u Every person is unique with their own preferences & interests
u It’s difficult to help people discover what they want when they are not sure of
their needs/desires
u Companies have large databases but small data set per customer
u Cold start problem on all sides!
34. Why personalize?
u 80% of consumers are more likely to purchase from a brand that provides
personalized experiences
u Personalized shopping cart recommendations influenced 92% of
shoppers online to buy products
u Personalization reduces acquisition costs as much as 50%
u More than 85% of users expect and accept personalization as a part of their
online retail experience
u Increases average order value & customer loyalty
36. Back to adaptive products
Adaptive products bring all this together – adaptable UX, effective data loops
and personalized experiences.
Adaption can occur in every aspect of product
u Ranking of products
u Recommendations
u Media & content for product
u Reviews & feedback form
u Cross-sells & up-sells
37. Amazon Revisited
Data:
• Orders
• Clicks
• Reviews
• Cart additions
Algo:
Recommends product categories
based on previous interactions
Adaptable UX:
• Flexible top bar to
accommodate different
categories
• Modular home page – ranking
of modules can change
Feedback:
• Funnel progression
• CTR
• CVR
38. Netflix Revisited
Data:
• Views
• Clicks
• Searches
• Image, content clicks
• Profile
Algo:
Recommends the categories, order
of categories, media (content) &
ranking of shows/movies
Adaptable UX:
• Modular home page – types &
ranking of modules can change
• Hero image selection &
displayed content
Feedback:
• CTR
• Search
• Time spent
• Shows/movies watched
• Skips/bounces