My definition of Facebook Economy: I see it as the social networking world and the open platform play that Facebook initiated that has created a thriving economy of new facebook apps, businesses trying to reach users by extending their web product with a facebook app and the ecosystem of other platforms like Opensocial and APIs everywhere which was created because of the success of Facebook Platform.
I am finding that its an exhaustive topic so I am going to limit it to Facebook primarily at tomorrow's session.
Whats common in Product Management in all Facebook Economy is the mindset. Some would call it Web2.0, but show me an example that exemplifies all the points below except facebook.
The Facebook Economy Mindset:
- Customer believes to be in charge
- Customer communicates with other customers independent of company, this becomes part of product in the case of user generated content and user's social experience
- Total Transparency
- Shorter product life cycles leading to Agile development
- APIs and platforms from everyone - Y!, AOL, Google, Dash as a new way of extending your product roadmap and doing market assessment at the same time
I plan to cover the 101 of Product Management as it applies to facebook apps.
- Define the Product - Customer Definition, Roles and Responsibilites - use cases
- Develop Product Requirements - PRD and MRD
- Market Assessment, A/B Testing vs Multi-Variant Analysis
- Product Phases and Decisions- A phase gate development strategy
- Managing the Product Roadmap
- Launch Plans