Introduction to Axaya Kansal
In this episode we have Axaya Kansal, a product manager with over a decade of experience in making user experiences better and simplifying customer problems through digital solutions. He has led product strategies across various industries including FinTech, telecom, retail and marketing tech.
At companies like Boku he has been the driving force behind building marketing solutions to enable local payment usage at a global scale. His work has always been about building digital products that meet user needs and simplify processes and security so everyday transactions are easy for millions of users worldwide.
Axaya’s approach to product management is about marrying marketing requirements with technology vision and he is a well known thought leader in digital product management. His work has expanded product offerings, entered new markets and set benchmarks in innovation and user engagement.
He is known for his motto “innovation through collaboration” and his user centric product development approach. Join us as we chat with Axaya about the challenges and successes of building digital products that change the end user experience and how we interact with technology every day.
Table of Contents
- Who is Axaya Kansal?
- Current Projects that Excite Axaya
- Tactical and Strategic Digital Product Management Advice from Axaya
- Where Does Axaya See the Future of User Experience in Digital Product Management?
- How to Get in Contact with Axaya
- Axaya’s Advice to His Younger Self
- Books, Podcasts, or Leaders That Inspire Axaya
- Conclusion
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Who is Axaya Kansal?
Axaya Kansal grew up in a small town in India, always curious and observant. After completing his electrical engineering degree in early 2000s, Axaya was fascinated by the rapidly changing technology landscape, especially in telecom.
Early Career and Telecom Experience
Though he was placed in VLSI chip design in college, Axaya chose to enter the mobile technology space. He joined Spice Telecom where he spent a lot of time understanding the impact of mobile on users and solving basic problems people faced.
Axaya has worked in various industries:
- Telecom
- Banking
- FinTech
- Marketing tech
- Retail
Across all these industries Axaya has applied similar frameworks to solve consumer problems and technological challenges.
Philosophy and Approach
Axaya’s approach to product management is simple: “How do I solve problems when I see people struggling, using technology as a tool?” He believes in solving common problems faced by many and scaling through technology.
Current Role and Personal Ventures
After Young Living, Axaya took an unplanned sabbatical to re-evaluate his goals and contributions to the world. He currently works at Boku, a FinTech company focused on local payments where he solves problems around market engagement and marketing tech.
Apart from his professional work, Axaya is passionate about mentoring. He spends time helping new entrepreneurs figure out the right strategies, org structures and approaches for their businesses. This pro bono work allows him to give back to the world and learn about different industries and problems.
Current Projects that Excite Axaya
Axaya is currently involved in two main areas that excite him:
1. Marketing Technologies at Boku
At Boku, Axaya works on building marketing technologies that integrate with payment systems to enable digital merchants. The company focuses on local payment methods, such as:
- Pix in Brazil
- UPI in India
- CPI in Europe
Boku creates a network of these local payment methods and helps merchants go global by seamlessly integrating these payment options. Axaya’s role involves:
- Creating a safe space for marketers and payment teams to co-innovate
- Developing strategies to acquire new paying customers
- Decreasing customer acquisition costs
- Increasing customer lifetime value
- Optimizing product offerings and pricing in different markets
This work is particularly exciting as it involves partnerships with some of the world’s largest digital companies, addressing real challenges and impacting billions of users.
2. Mentorship and Startup Advising
Axaya is passionate about mentoring startup executives and entrepreneurs. He has developed frameworks based on his own experiences and failures, which he applies to help others avoid common pitfalls. His mentorship covers various aspects:
- Identifying the right MVP (Minimum Viable Product)
- Achieving product-market fit
- Scaling strategies for businesses at different stages (e.g., Series C, Series D)
- Creating execution frameworks
- Setting up optimal organizational structures
This pro bono work allows Axaya to contribute to society while continuously learning about different industries and challenges.
Tactical and Strategic Digital Product Management Advice from Axaya
Understanding Digital Product Management
Axaya explains that digital product management is fundamentally about:
- Identifying problems (problem discovery)
- Developing solutions using technology
The key steps in this process include:
- Identifying whose problem you’re solving
- Defining the specific problem
- Assessing the scale of the problem
- Bringing together stakeholders for diverse perspectives
- Developing potential solutions
Frameworks for Problem-Solving
Axaya recommends using established frameworks like Google’s Design Sprints to:
- Identify the right problem
- Understand the depth of the problem
- Gather perspectives from various stakeholders
- Develop potential solutions
User-Centric Approach
Emphasizing the importance of keeping users at the heart of product development, Axaya advises:
- Conducting usability testing for each potential solution
- Involving UX designers in the decision-making process
- Utilizing A/B testing to refine solutions
Balancing User Needs and Business Goals
Axaya stresses that user needs and business goals are often two sides of the same coin. He recommends:
- Translating user problems into measurable business metrics
- Thinking commercially about problem-solving
- Aligning solutions with key business metrics (e.g., increasing user conversion, reducing customer acquisition costs)
Data-Driven Decision Making
Data plays a crucial role in digital product management:
- Use data to identify gaps and problem statements
- Leverage data for prioritization of tasks and features
- Employ data to harmonize goals across different departments (marketing, sales, supply chain)
Advice for Business Owners
For business owners looking to enhance their digital product management:
- Invest in the right people who understand your business
- Focus on building the right processes
- Develop products that enhance customer journeys
Axaya emphasizes the importance of understanding both the business and the users deeply before implementing technological solutions.
Where Does Axaya See the Future of User Experience in Digital Product Management?
Axaya predicts several key trends for the future of user experience in digital product management:
1. Increased Contextualization
With advancements in AI and machine learning, user experiences will become more contextual and personalized. This shift will lead to:
- More dynamic and adaptive user interfaces
- Increased empathy towards user behavior and feelings
- AI-driven, context-sensitive user experiences
2. Democratization of Advanced Tools
Technologies currently only affordable for large companies will become accessible to small and medium-sized businesses, enabling them to:
- Implement more sophisticated user journey mapping
- Utilize AI and machine learning for personalization
- Compete more effectively with larger businesses in terms of user experience
3. Enhanced Local Context
There will be a greater focus on incorporating local context into user experiences, allowing businesses to:
- Tailor experiences to specific geographic and cultural needs
- Increase relevance and engagement for users in different regions
4. Integrated Loyalty and Engagement Programs
Businesses will increasingly focus on:
- Developing comprehensive loyalty programs
- Encouraging user-generated content
- Creating training modules and other value-added services
These initiatives aim to make users feel more connected and invested in the business ecosystem.
5. Continuous Evolution of Customer Journeys
The understanding and mapping of customer journeys will become more sophisticated, with:
- Real-time adaptations based on user behavior
- Increased use of predictive analytics to anticipate user needs
Advice for Business Owners to Prepare for the Future
To stay ahead in this evolving landscape, Axaya advises business owners to:
- Stay close to customer needs and continuously monitor how they’re changing
- Keep an eye on technological advancements in the digital marketing space
- Map available tools to your specific customer journey challenges
- Plan for gradual adoption of new technologies as they become more affordable and accessible
- Prioritize understanding your consumer wants and needs above all else
How to Get in Contact with Axaya
[Note: The transcript doesn’t provide specific contact information for Axaya. You may want to add his LinkedIn profile or other professional contact details here.]
Axaya’s Advice to His Younger Self
If Axaya could go back and give advice to his younger self, he would emphasize two key points:
- Focus more on family and health: Axaya learned later in life the importance of putting these at the core of his life. He believes this focus has transformed his way of thinking and living.
- Be honest to society and give back: Axaya encourages sharing knowledge and experiences with others. Although he learned this later in life, he now finds great fulfillment in mentoring and giving back to society.
Books, Podcasts, or Leaders That Inspire Axaya
Axaya recommends the book “Range” by David Epstein. This book discusses how generalists often succeed more than specialists in various fields of life. It provides insights into:
- The value of diverse experiences and knowledge
- The balance between specialization and generalization
- Examples of successful generalists, starting with the story of Roger Federer
Axaya finds this book particularly inspiring and relevant to understanding success in today’s complex world.
Conclusion
Axaya Kansal’s insights into digital product management offer valuable lessons for businesses of all sizes. His emphasis on user-centric design, data-driven decision-making, and the importance of understanding both technology and human needs provides a roadmap for creating successful digital products in an ever-evolving technological landscape.
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