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3 Pillars of the Most Successful Tech Products – The Startup – Medium

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the GEM framework... to deliver value ... the company must never lose sight of ... growth, engagement, and monetization.... Growth is all about how a company finds new users or customers.... getting the right message in front of people who need what you have... “external triggers.” ... delivered through various channels.... The growth question to answer is: “Are we getting better at drawing the attention of people who need our product? ... growth is a process and a practice, not an end state... metric: Number of new users or customers, and the cost of finding them....
With some products and services, customer engagement is naturally infrequent... Apps like Facebook, Slack, Salesforce, and Snapchat need to become a habit... calculate the percentage of people using their product or service frequently enough to be classified as “retained.” ... question: “Are we getting better at engaging people who need our product?” ... metric: Percentage of retained users or customers...
monetization... question is: “Are we getting better at capturing the value we create?”... metric... profits... if you are right and everyone agrees with you, competitors will see the opportunity too... if you can spot the big untapped market ... protect it with “unbreachable ‘moats.’”...: economies of scale, network effects, regulatory protection, brand, and habit.

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See also: Digital Transformation , Change & Project Management , Innovation Strategy , Business

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