Ever wondered how Airbnb makes your stay feel like a dream?
Hey
Welcome to the #115th edition of the TPF newsletter.
đź‘‹ Hi there! I'm Suhas from The Product Folks. Think of us as your friendly neighborhood guide for all things related to product development.
I'm here to share some really cool stuff with you, from the latest product news to sneak peeks into our special workshops and events. You're going to love it, so don't miss out!
Ever wondered how Airbnb makes your stay feel like a dream?
Imagine you're the only guest in their world, and they're determined to make your experience out-of-this-world amazing.
Product Management Models in Context of Airbnb
Airbnb merged its product management and marketing functions into one role, the Product Marketing Manager (PMM).
According to Brian Chesky, the CEO of Airbnb, this move was inspired by Apple, which also did not have a traditional product management function
It aligns the product vision, strategy, and execution with market needs and customer feedback.
It reduces the friction and overhead between product management and product marketing and enables faster and more consistent product launches.
It empowers the designers to be more creative and innovative and to collaborate closely with the engineers and PMMs.
From the eyes of a PM:
Let’s look at Airbnb from the eye of a product manager, let’s break-it-down:
User Experience Design: Airbnb excels in user-friendliness with an intuitive, personalized interface.
Market Segmentation: Airbnb tailors listings and content to diverse global traveler preferences.
Innovative Differentiation: The platform offers unique accommodations and 'Experiences', diversifying its services.
Sustainable and Community Focus: Airbnb promotes eco-friendly options and deeper community engagement.
Agile Development: The company rapidly prototypes and collaborates cross-functionally, adapting quickly to user and market needs.
Unique Selling Proposition (USP) of Airbnb
Airbnb's Unique Selling Proposition (USP) includes offering a community-based experience with unique accommodations like treehouses, a wide range of options for different budgets, and integrating travelers with local culture and businesses for an authentic experience.
Let’s get into the numbers:
Listing: Airbnb has over 7 million active listings worldwide as of June 30, 2023, and covers 100,000 cities and towns. Airbnb operates in more than 220 countries and regions.‍
Revenue: Airbnb's revenue for 2022 was reported at US$8.40 billion, and its net income was US$1.89 billion. Hosts on Airbnb have earned over $180 billion in total, with the typical US host earning $14,000 in 2022.‍
Origin: Airbnb, established in August 2008 in San Francisco, California, began as a simple concept for renting out air mattresses. It has since evolved into a global platform, offering unique stays and experiences around the world.
Footprint in India: Since launching in India in 2012, Airbnb has contributed Rs 7,200 crore to the country's GDP and supported 85,000 jobs by 2022. Additionally, searches for non-urban Indian destinations on the platform increased by 140% in Q2 2022.
"Adapting how you build, solve problems, and choose pursuits defines a robust Product Company.” - Marty Cagan, Founder of Sillicon Valley Product Group
The Nature of Product by Marty Cagan
Key Insights:
Focus on Problem, Not Solution: Don't fall in love with your solution; fall in love with the problem you're solving.
Empowering Teams: Marty Cagan stresses the importance of giving power to product teams, engineers, and designers to be innovative and make decisions.
Don't Forget Product-Market Fit: It's not just about building a product; it's also about ensuring customers can easily find and adopt the product for true product-market fit.
Wanna be a product superstar and work at Silicon Valley? Ready for more insights from the legend himself?
Nudges are game-changers across industries, making tasks a breeze. Here's a quick guide on where nudges shine:
Fintech: Nudges help users with account setup, goal setting, smart saving, investing, and accessing special deals.
Telecom: They use nudges for new service promotion, managing data usage, bill reminders, and tailored offers.
Edtech: Nudges support assignment completion, deadline reminders, engaging with course content, and recommending extra learning resources.
E-commerce:Nudges aid in user onboarding, showcasing offers, cart additions, suggesting related products, and promoting loyalty programs.
Netcore's No-Code Contextual Nudges and Walkthroughs provide a comprehensive solution for creating and deploying these effective engagement strategies.
Request Demo With Netcore → CTA
Tesla's Entry into India: A New Era for EVs
Tesla's coming to India, which is set to create waves in the electric vehicle (EV) sector!
Key Insights:
Tesla Coming to India in 2023: Tesla is bringing its advanced EV technology to India next year.
Indian Manufacturing Plant in Two Years: Tesla plans to build a manufacturing factory in India within two years.
Disruption Ahead: Tesla's entry may disrupt the local EV market, impacting manufacturers and EV policies.
New Multimedia Tools: The availability of DALL-E 3 and the Audio API provides advanced options for enhancing multimedia elements in products.
Which impact do you think will be most significant with Tesla's entry into India's EV market?
What do you think?
Elevated Market Standards: Tesla's presence elevates the overall standards and expectations for EVs.
Competitive Response: Local manufacturers might step up innovation to compete.
Infrastructure Growth: A boost in EV charging and support infrastructure
Consumer Shift: A shift in consumer interest towards more premium EV models
TPF x GrabChai: What is Product-Market Fit?
Join us for our December GrabChai event in Delhi, featuring a fireside chat on Product-Market Fit with industry experts Pranav and Smarth. Network, learn, and elevate your career at this must-attend event for product enthusiasts.
In today's fast-paced business world, it's more important than ever to have the right tools in place to manage your operations effectively. That's where Zorp comes in.
Key Features:
No-Code Builder: Create operational apps in minutes with drag and drop components, and publish them to the web, Android, or iOS.
Task Framework: Assign, track, and complete tasks with your team, and automate your workflows with triggers and actions.
Business Intelligence: Visualize your data with charts, graphs, and dashboards, and build predictive models with generative AI.
Zorp is helping businesses like Porter, Urban Ladder and Ula. Ready to take your business to the next level?
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