Lenny Rachitsky: belief

Transcript context

…25%, subscriptions by 20%, user retention by a lot as well. So that was fantastic, but the point is that it doesn't just stop there. You have to take that insight, share it broadly across the company. Now, adjacent product managers like the PM working on puzzles can now think about, "Okay, how do I audit these cold patterns in my product and think about making them more positive?" I can change the success rating, I could tweak some copy, change the color of some buttons, and so you now can take this experiment win and expand it out 10X across your organization and that's the kind of exploitation phase of it. So when done right, you can oscillate between the two until you saturate out of exploitation mode and then you encourage the teams to brainstorm and get more creative again. Amazing. Okay, so there's a lot here to follow up on. One is the core piece of advice when you find something that works really well, find ways to build on that learning. One is here's an insight, it can apply to other parts of the product. "Hey teams, here's something we learned unexpected. Maybe this can help you. Also, just keep find more, run more experiments in the same zone." I imagine is a part of that. Yeah, exactly right. In my experience, the typical win rate, and I hate to use that term for experiments, is often something like 30 to 50%. Usually you're trying a bunch of things, a lot of hypotheses turn out not to be true, consumer products are very unpredictable like that, but when you do find a thing that breaks through the noise, and it could actually be a hugely losing experiment too, those are also super valuable. Surfacing those across the company, the original PM running that experiment doesn't necessarily need to be the person that figures out what you should do for all the other parts of your product experience, but the onus is on them to clearly articulate what their hypothesis is, what they found such that then as a growth leader, I can encourage people to swarm around that and try a bunch of different ideas such that the success rate is up and the impact is up. So it's just oscillating back and forth between the two. That is the magic bullet.…

Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.