The #8 edition of 8percent.
Your weekly growth and product upskill, in 8 minutes.
Here’s what we have for you this week.
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Growth
💻 Tools: Ads Libraries and User Testing.
🧠 Persuasion: Future Pacing.
📰 Article: Growth Advising.
🤖 Automation: eCommerce, we got you.
Product
💻 Tools: Chat(GPT) with your database.
🧠 Persuasion: Keep it simple.
📰 Article: How to become an AI PM.
💰 My 2 cents: Not the Gemini season.
Growth.
Tools 👇
Google Ads Library → Check out any live Google Ads. (free)
Same as Facebook Ads Library, but for Google!
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UserTesting → Get insights from panels of users. (paid)
Test out your assumptions quickly.
It’s good to trust your gut, better if it’s supported by actual data.
Persuasion Technique 👇
Envision the Future, Boost Your Sales.
Future Pacing: A technique that encourages customers to imagine the long-term benefits of a product or service, enhancing its perceived value. 🧠
Example: Picture this - In just 4 days, you use future pacing and see an uptick in customer conversions. Fast forward 2 months, and it's a natural part of your sales dialogue, making your offer irresistible. Imagine, a year from now, your business flourishing with soaring sales, all thanks to customers truly understanding and valuing what you offer.
Where to Use: Ideal for landing pages, Facebook Ads, YouTube ads, and sales calls."
Article 👇
Let’s democratize Growth Advisors.
How to leverage advising for the growth of your company.
Understanding Advising: Advising is distinct from traditional full-time roles, interim positions, fractional roles, and contractual employment. It involves coaching and guiding strategy creation and execution without direct accountability for deliverables.
Advising vs. Other Roles: Advising differs from coaching, mentorship, and consulting. As an advisor, Elena Verna doesn't execute tasks but provides strategic guidance and insights, helping teams think about problems correctly and operationalize solutions.
Growing Popularity of Advising: Advising is becoming more popular as companies recognize its value. Advisors like Verna receive numerous requests due to their expertise and ability to offer unique insights and strategies.
Advising as a Career Path: For many professionals, advising offers a way to scale their impact across the industry, sharing their knowledge and experience with multiple companies.
Advising and Hiring Senior People: Advising can be a strategic approach for hiring senior personnel, allowing companies to "try before they buy." It reduces the risk of a bad match and increases the chances of long-term retention.
Accountability in Advising: Advisors should have skin in the game, which can be ensured through equity as part of compensation and a commitment to a minimum tenure. The advisor's impact on the team is a crucial measure of their effectiveness.
Compensation for Advisors: The ratio between equity and cash compensation varies depending on the advisor's role and the company's stage. A 50-50 split between cash and equity is a common benchmark, but this can be adjusted based on specific circumstances.
Protecting Against Poor Matches: Both companies and advisors can protect themselves against poor matches through contractual clauses like cliffs and monthly vests. These ensure fair compensation and commitment from both sides.
The article concludes by highlighting the importance of advising in today's business landscape, especially for startups and growing companies seeking expert guidance and strategic direction.
Here is the article, read it!
🇫🇷 Bonus for French-speaking people: here’s my take.
Automation 👇
Working in eCommerce?
We have a lot of easy automation opportunities for you here.
Product.
Tool 👇
Ask your database → What if instead of scripting requests, you could chat with your database? Now you can. (start at $23/mo)
The main features
Extracting insights from databases to make data-driven decisions.
Data visualization.
Database schema generation.
Works with SQL and NoSQL databases.
The next version will also support Airtable and other “no-code” tools for your POC or automation processes.
Persuasion Technique👇
Let’s do a quick experiment. Read this :
0675223491Now, close your eyes and try to recall this sequence of numbers. Struggling?
Ok let’s do the same with this one :
06 75 22 34 91The clustering should have helped your brain’s immediate recall.
Miller's Law - “The average person can hold about 7 (plus or minus 2) items in their working memory.” 🧠
And it’s not all about the magical number seven. The main concept is “chunks.” These chunks represent meaningful groups of information. It could be words, images, numbers…
Article 👇
Last week, we spoke about the end game of Product: solving customer problems.
And that won’t change.
But that doesn’t mean the Product Manager job description won’t evolve.
Since the ChatGPT 3.5 release this year, a lot of conversions have been about how it’ll affect every job in every field.
And, of course, the digital industry is on the front line. But we have the resources to acquire the necessary skills quickly. So, let’s talk about how.
This week's article is all about it :
“Becoming an AI Product Manager: A Comprehensive Guide to Building the Skills and Knowledge You Need”
”AI Product Managers play a vital role in ensuring the effective implementation of AI within an organisation, with the ultimate goal of delivering customer value while aligning with the broader business strategy.”
Here are the three things you’ll need to learn about
Foundational knowledge in AI
You must develop a high-level understanding of technologies like Machine Learning or Deep Learning and their different methods
👉 Here is a great cheat sheet about Machine LearningManaging product risks related to AI applications
Being able to evaluate if AI is the right solution for a problem, considering its nature and the quality and accessibility of data.
👉 You can start by studying real-world examples of AI technology.AI product development lifecycle
This includes collaboration with scientists and engineers and understanding the processes: formulating the problem → selecting and pre-processing data → feature engineering → model building → productionising models.
Here is the article; read it!
My 2 cents 👇
We are sure you’ve seen the first demo of Google’s new product, Gemini.
If not, let’s take a look at the video below.
We have to admit the Gemini demo blew up our minds.
It can understand the nuances of language, recognize a face in a crowd, make sense of a video, or process audio. With this first multimodal model, Google seems to have made a big step forward.
But in the age of artificial intelligence, are we going to believe everything we see?
Nope. And we’re right.
1. Concerns about the authenticity of Google's Gemini demo videos
👉 The demonstrations were not conducted in real-time but used image frames and written text prompts.
Source: The Verge
2. Not the champion we were excepted
👉 For now, only Gemini Pro is available, and it doesn’t match GPT-4 performances.
Source: TechCrunch
We’ll see you next week.