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www.productschool.com
Adaptive Products for Personalized
Experiences by Expedia Sr PM
CERTIFICATES
Your Product Management Certificate Path
Product Leadership
Certificate™
Full Stack Product
Management Certificate™
Product Management
Certificate™
Corporate
Training
Level up your team’s Product
Management skills
Free Product Management Resources
BOOKS
EVENTS
JOB PORTAL
COMMUNITIES
bit.ly/product_resources
COURSES
ADAPTIVE PRODUCTS FOR
PERSONALIZED
EXPERIENCES
Parul Raj
Sr. Product Manager, Expedia
Agenda
u What is adaptive product?
u Components of adaptive product
u Data loops
u Personalization
u Bringing it all together!
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
What is adaptive product?
What is product?
Product = Holistic user experience
Source: Marty Cagan, ‘Defining Product’
Holistic user experience = Functionality + Design +
Monetization + Content
Twitter Feed Netflix Amazon store
Some examples
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.
Adaptive products provide personalized
experiences to customers.
Twitter Feed Netflix Amazon store
Same examples in a new light
Components of adaptive products
What are the components?
Product Algorithm
Data
Data
User
What are the components?
Product Algorithm
Data
Data
User
1
What are the components?
Product Algorithm
Data
Data
User
2
What are the components?
Product Algorithm
Data
Data
User
3
What are the components?
Product Algorithm
Data
Data
User
4
What are the components?
Product Algorithm
Data
Data
User
Data Loop
What are the components?
Product Algorithm
Data
Data
User
Data Loop
Personalized Experience
Data Loops
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.
What are Data Loops?
Data loops form the core of the adaptive products.
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
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
Value of data loops
u Improves customer retention
u Increases customer conversion
u Unlocks personalized experiences
u Unmatched competitive advantage
Personalized Experience
Personalization
Creating and/or modifying experiences for customers based on their preferences,
wants and needs.
Personalization means catering to marketplace of a single customer!
Examples of personalized experiences
Online
Offline
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
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!
Levels of personalization
One size fits all
No personalization
Segment based
personalization
Personalized for one
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
Bringing it all together!
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
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
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
That’s all!!
Thank you!
www.productschool.com
Part-time Product Management Training Courses
and
Corporate Training

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Adaptive Products for Personalized Experiences by Expedia Sr PM

  • 1. www.productschool.com Adaptive Products for Personalized Experiences by Expedia Sr PM
  • 2. CERTIFICATES Your Product Management Certificate Path Product Leadership Certificate™ Full Stack Product Management Certificate™ Product Management Certificate™
  • 3. Corporate Training Level up your team’s Product Management skills
  • 4. Free Product Management Resources BOOKS EVENTS JOB PORTAL COMMUNITIES bit.ly/product_resources COURSES
  • 5. ADAPTIVE PRODUCTS FOR PERSONALIZED EXPERIENCES Parul Raj Sr. Product Manager, Expedia
  • 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
  • 8. What is adaptive product?
  • 9. What is product? Product = Holistic user experience Source: Marty Cagan, ‘Defining Product’ Holistic user experience = Functionality + Design + Monetization + Content
  • 10. Twitter Feed Netflix Amazon store Some examples
  • 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.
  • 12. Adaptive products provide personalized experiences to customers.
  • 13. Twitter Feed Netflix Amazon store Same examples in a new light
  • 15. What are the components? Product Algorithm Data Data User
  • 16. What are the components? Product Algorithm Data Data User 1
  • 17. What are the components? Product Algorithm Data Data User 2
  • 18. What are the components? Product Algorithm Data Data User 3
  • 19. What are the components? Product Algorithm Data Data User 4
  • 20. What are the components? Product Algorithm Data Data User Data Loop
  • 21. What are the components? Product Algorithm Data Data User Data Loop Personalized Experience
  • 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!
  • 30. Examples of personalized experiences Online Offline
  • 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!
  • 33. Levels of personalization One size fits all No personalization Segment based personalization Personalized for one
  • 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
  • 35. Bringing it all together!
  • 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
  • 41. www.productschool.com Part-time Product Management Training Courses and Corporate Training