PRODUCT MANAGEMENT & PRODUCT MARKETING … Meeting... · 4 | ©2006 ZIGZAG MARKETING Full Circle...
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Transcript of PRODUCT MANAGEMENT & PRODUCT MARKETING … Meeting... · 4 | ©2006 ZIGZAG MARKETING Full Circle...
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1 | ©2006 ZIGZAG MARKETING
PRODUCT MANAGEMENT & PRODUCT MANAGEMENT & PRODUCT MARKETING EXECUTIONPRODUCT MARKETING EXECUTION
John Mansour
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2 | ©2006 ZIGZAG MARKETING
Remember Execution?Remember Execution?
Before the internet bubbleRevenue Happy customers
During the internet bubbleGreat ideasPie in the sky business plansHype
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3 | ©2006 ZIGZAG MARKETING
A New LandscapeA New Landscape
Industry consolidation
Geographically dispersed organizations
Mishmash of cultures and processes
Varying levels of experience and expertise
No new “hype” technology to rival the internet
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4 | ©2006 ZIGZAG MARKETING
Full Circle Back to ExecutionFull Circle Back to Execution
1. Grow product revenue
2. Create loyal customers
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5 | ©2006 ZIGZAG MARKETING
Product Management & MarketingProduct Management & Marketing
What you should do1,000,000 thingsTo the Nth degree
What you can doA few thingsVery well
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6 | ©2006 ZIGZAG MARKETING
Assess Markets
Formulate Strategy
Align the Team
Create Product Plans
Develop ProductsPosition Products
Plan Rollout Execute RolloutGenerate Demand Launch Products
10 Steps 10 Steps –– 1 Goal: Simple to Execute1 Goal: Simple to Execute
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7 | ©2006 ZIGZAG MARKETING
1. ASSESS MARKETS1. ASSESS MARKETS
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8 | ©2006 ZIGZAG MARKETING
1 2 3 4 5
1. ASSESS MARKETS
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9 | ©2006 ZIGZAG MARKETING
Target Market SegmentsTarget Market Segments
Product Roadmap
MarketingStrategy
Sales Execution
Target Customer Acquisition
1. ASSESS MARKETS
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10 | ©2006 ZIGZAG MARKETING
Execution Execution –– Pick Your Pick Your ““Sweet SpotsSweet Spots””
1. Quantify “your” market opportunity
2. Qualify “your” market opportunity
3. Profile each segment
4. Prioritize
1. ASSESS MARKETS
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11 | ©2006 ZIGZAG MARKETING
Keeping It SimpleKeeping It Simple
25 22
35
15
70
46
0
10
20
30
40
50
60
70
"Your" Revenue Opportunity (milions)
ConstructionManufacturingUtilitiesTransportationRetailInsurance
1. ASSESS MARKETS
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12 | ©2006 ZIGZAG MARKETING
Your Core Competencies
Your Competition
BuyingCriteria
IndustryCompetition
Financial Health
SpendingPriorities
Key Trends and Drivers
Annual Revenue Opportunity
Market Size
Segment 4Segment 3Segment 2Segment 1
Keeping It SimpleKeeping It Simple
1. ASSESS MARKETS
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13 | ©2006 ZIGZAG MARKETING
ExerciseExercise
1. Choose a market segment
2. Key trend or market driver
3. Resulting C-level challenge
1. ASSESS MARKETS
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14 | ©2006 ZIGZAG MARKETING
2. FORMULATE STRATEGY2. FORMULATE STRATEGY
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15 | ©2006 ZIGZAG MARKETING
Strategy & CEO VisionStrategy & CEO Vision
0
5
10
15
20
25
1983 1990 1991 1997 1998
Reven
ue (
Billio
ns)
Source: Product Strategy for High Technology Companies
1983: Highest QualityPortable Computers
1988: Highest PerformancePortable Computers
1992: Price Leader
2. FORMULATE STRATEGY
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16 | ©2006 ZIGZAG MARKETING
Strategy Strategy –– Keep it SimpleKeep it Simple
1. Where are we going?
2. How will we get there?
3. Why will we be successful?
YOU ARE HERE!
Org.Goals
2. FORMULATE STRATEGY
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17 | ©2006 ZIGZAG MARKETING
Strategy: A 12Strategy: A 12--Part Sales PitchPart Sales Pitch
Vision & Company Objectives Quantitative & Qualitative Market Analysis
Technology Competition S.W.O.T.
Pricing & Bundling
ROI OrganizationalKeys to Success
Product Roadmap Strategic Alliances Packaging
Go-to-marketStrategy
Approval &Communication
A S S E S S M E N T (Where are we going?)
D E C I S I O N S (How will we get there?)
V A L I D A T I O N (Why will we be successful?)
2. FORMULATE STRATEGY
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18 | ©2006 ZIGZAG MARKETING
The ExecutionThe Execution
1. Bold headings, graphs, charts, numbers
2. Create your pitch and sell it
3. Get approval
4. Communicate
2. FORMULATE STRATEGY
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19 | ©2006 ZIGZAG MARKETING
Stick to the PlotStick to the Plot
This Year
Next Year
2. FORMULATE STRATEGY
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20 | ©2006 ZIGZAG MARKETING
3. ALIGN THE TEAM3. ALIGN THE TEAM
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21 | ©2006 ZIGZAG MARKETING
SalesIssues
MarketingFire Drills
DevelopmentProblems
SqueakyCustomer
“Opportunity of a
Lifetime”
RFP’s orDemos
Technical SupportProblem
Contract Issues
Product Manager
3. ALIGN THE TEAM
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22 | ©2006 ZIGZAG MARKETING
Product ExpertsProduct Experts
Should a product manager be the ultimate product expert?
3. ALIGN THE TEAM
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23 | ©2006 ZIGZAG MARKETING
Strategy
Plan Design & Build Market & Sell Customer Care
ReleasePlans
UserDesign
Build,Test,QA
Rollout&
PromoteDemo Implement Support
The Product Delivery Continuum The Product Delivery Continuum
Segment Mktg.and/or
Product Mgmt.
Product Management
FunctionalDesign
Product Development
Product/Segment Marketing
SolutionEngineer
Technical/ApplicationConsultant
TechSupport
3. ALIGN THE TEAM
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24 | ©2006 ZIGZAG MARKETING
Solution Alignment Solution Alignment
MarketSegment
#1
MarketSegment
#2
MarketSegment
#3
MarketSegment
#4
PRODUCT MARKETINGPRODUCT MARKETING - Industry or Segment Solutions
Product Line #1
Product Line #2
Product Line #3
Product Line #4
PRODUCTS PRODUCTS by Product Familyby Product Family
3. ALIGN THE TEAM
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25 | ©2006 ZIGZAG MARKETING
The ExecutionThe Execution
1. Define product delivery process
2. Map roles & personalities to process
3. Responsibilities & deliverables
4. Synchronize
3. ALIGN THE TEAM
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26 | ©2006 ZIGZAG MARKETING
Synchronize ExerciseSynchronize Exercise
3. ALIGN THE TEAM
Product Management
FunctionalDesign
Product Development
Product/Segment Marketing
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27 | ©2006 ZIGZAG MARKETING
4. CREATE PRODUCT PLANS4. CREATE PRODUCT PLANS
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28 | ©2006 ZIGZAG MARKETING
What Plan? It Never Stops!What Plan? It Never Stops!
Product Management
Product Development
Prospects Customers Services SupportExecutivesSales
4. CREATE PRODUCT PLANS
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29 | ©2006 ZIGZAG MARKETING
Product Release Planning & Regimen Product Release Planning & Regimen Major ReleasesMajor Releases
Q1 Q2 Q3 Q4
4. CREATE PRODUCT PLANS
P2 R2P1R1
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30 | ©2006 ZIGZAG MARKETING
Release Planning & Economies of ScaleRelease Planning & Economies of Scale
Fewer cycles and fewer deliverables
Product planning
Design, development, testing overhead
Marketing materials
Rollout activities
Internal training
4. CREATE PRODUCT PLANS
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31 | ©2006 ZIGZAG MARKETING
Product Release PlanProduct Release Plan
Approval &Communication
Company Goals & Objectives Quantitative & Qualitative Market Analysis
Release Objectives Business Functions/ProcessesTargeted
BUSINESS REQUIREMENTS
Risks
Language/LocalizationRequirements
Technology/Hardware/OSRequirements 3rd Party Products/Services
Release ROI
4. CREATE PRODUCT PLANS
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32 | ©2006 ZIGZAG MARKETING
The ZIGZAG Requirements FunnelThe ZIGZAG Requirements Funnel
4. CREATE PRODUCT PLANS
Target Market Trends & Drivers
C-Level Challenges
Departmental Business Problems
Business Solutions
Product Requirements
Functional/User Req’s
Technical Req’s
STRATEGY
PRODUCT RELEASE PLAN
FUNTIONAL & TECHNICAL
DESIGN
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33 | ©2006 ZIGZAG MARKETING
Exercise Exercise –– Defining a Business RequirementDefining a Business Requirement
1. Identify a business task that’s problematic
2. What role usually performs this task?
3. What’s the problem and why?
4. Consequences of not solving
5. Business requirement
6. Productrequirements
4. CREATE PRODUCT PLANS
SolutionSolution
ProblemProblem
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34 | ©2006 ZIGZAG MARKETING
Execution Execution -- Create Product PlansCreate Product Plans
4. CREATE PRODUCT PLANS
1. Define planning schedule
2. Formalize the input process
3. Create the plan
4. Approve &Communicate
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35 | ©2006 ZIGZAG MARKETING
5. DEVELOP PRODUCTS5. DEVELOP PRODUCTS
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36 | ©2006 ZIGZAG MARKETING
5. DEVELOP PRODUCTS
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37 | ©2006 ZIGZAG MARKETING
Strategy
Plan Design & Build Market & Sell Customer Care
UserDesign
Build,Test,QA
Rollout&
PromoteDemo Implement Support
The Typical ProcessThe Typical Process
Product ReleasePlans
Inside the 4 WallsInside the 4 Walls
Beta Test
5. DEVELOP PRODUCTS
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38 | ©2006 ZIGZAG MARKETING
Strategy
Plan Design & Build Market & Sell Customer Care
UserDesign
Build,Test,QA
Rollout&
PromoteDemo Implement Support
The Typical ResultThe Typical Result
Beta Test
Product ReleasePlans
5. DEVELOP PRODUCTS
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39 | ©2006 ZIGZAG MARKETING
Strategy
Plan Design & Build Market & Sell Customer Care
ReleasePlans
UserDesign
Build,Test,QA
Rollout&
PromoteDemo Implement Support
Validate Early & OftenValidate Early & Often
ValidateProblems &Solutions
ValidateVisual
Concepts
ValidateUsability
ValidateMarket
Landscape
ControlledRelease
5. DEVELOP PRODUCTS
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40 | ©2006 ZIGZAG MARKETING
Involving Target UsersInvolving Target Users
General Motors
Dannon Yogurt
Unilever
Taco Bell
Whirlpool
5. DEVELOP PRODUCTS
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41 | ©2006 ZIGZAG MARKETING
The ExecutionThe Execution
1. Form a project focus group
2. Validate problems & solutions
3. Validate design & usability
4. Validate marketreadiness
5. DEVELOP PRODUCTS
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42 | ©2006 ZIGZAG MARKETING
6. POSITION PRODUCTS6. POSITION PRODUCTS
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43 | ©2006 ZIGZAG MARKETING
Rule #1Rule #1
It’s not about what the product does
IT’S WHY YOU NEED IT!
In plain simple English
6. POSITION PRODUCTS
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44 | ©2006 ZIGZAG MARKETING
6. POSITION PRODUCTS
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45 | ©2006 ZIGZAG MARKETING
Rule #2Rule #2
What differentiates you?
In 10 words or less! (plain simple English)
6. POSITION PRODUCTS
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46 | ©2006 ZIGZAG MARKETING
ItIt’’s the Network!s the Network!
6. POSITION PRODUCTS
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47 | ©2006 ZIGZAG MARKETING
Positioning HierarchyPositioning Hierarchy
COMPANY POSITIONING - Brand
Market Segment 1 Market Segment 2 Market Segment 3
Unique Differentiation
Unique Differentiation
Unique Differentiation
Value Anchors
Value Anchors
Value Anchors
6. POSITION PRODUCTS
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Exercise Exercise -- Unique DifferentiationUnique Differentiation
Unique to product or company
Not unique, but not claimed by competition
ExampleSingle technology platform
Benefit to target customer relative to C-level issues
ExampleFaster time to market for new products & services
Proof points - logicProduct features
– Feature 1– Feature 2
Customer testimonials
6. POSITION PRODUCTS
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The ExecutionThe Execution
1. Define brand & differentiation
2. Define most common problems
3. Solutions & features
6. POSITION PRODUCTS
4. Benefit (C-Level)
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ConsistencyConsistency
Core Value Anchors & DifferentiationCore Value Anchors & Differentiation
Sales Presentations Demos Marketing
Materials Web Site
TelephoneScripts
Direct Marketing
TradeshowSignage
PressReleases
AnalystRelations
6. POSITION PRODUCTS
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77--8. PLAN & EXECUTE ROLLOUT8. PLAN & EXECUTE ROLLOUT
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PerspectivePerspective
Your products will always have deficiencies
Do a better job of marketing, selling, implementing and supporting what you have…
And you’ll make money and have far fewer product fire drills
7-8. PLAN & EXECUTE ROLLOUT
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Coordination & Self SufficiencyCoordination & Self Sufficiency
7-8. PLAN & EXECUTE ROLLOUT
Release Start Release Finish Line
Product Development
Professional Services & Training
Operations
Technical Support
Sales
Marketing
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The ExecutionThe Execution
7-8. PLAN & EXECUTE ROLLOUT
1. Assemble rollout team
2. Create rollout project plan & scope
3. Create deliverables
4. Train & certify
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9. GENERATE DEMAND9. GENERATE DEMAND
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ItIt’’s Getting Toughers Getting Tougher
Less EffectivePrint advertisingDirect mailTrade showsEmail??
More EffectiveSearch engine managementGive to get
White papersEducational seminarsSponsorships
Targeted accountViral Marketing
4. GENERATE DEMAND
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Rule #1 Rule #1 –– Be Easy to FindBe Easy to Find
Online93%
Offline7%
Where Technology Purchasing Decisions Begin
Source: Search Engine guide 2005
4. GENERATE DEMAND
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Rule #2 Rule #2 –– Create High Quality ContentCreate High Quality Content
56%33%
9% 2%
ModerateMajorLittle None
Source: CMO Council & KnowledgeStorm, 2005
Impact of Online Content on Vendor Preferences & Selection
4. GENERATE DEMAND
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Rule #2 Rule #2 –– Targeted Quality ContentTargeted Quality Content
Source: CMO Council & KnowledgeStorm, 2005
Types of Content Most valued
3rd Party Product Reviews 53.8%
Vendor White Papers 58.3%
Analyst Research Reports 52.2%
Product Literature 51.6%
Competitive Analysis 40.2%
4. GENERATE DEMAND
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The ExecutionThe Execution
9. GENERATE DEMAND
1. Market segment focus & message
2. Compelling call to action
3. Lead follow-through
4. Measure
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10. LAUNCH PRODUCTS10. LAUNCH PRODUCTS
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Rollout vs. LaunchRollout vs. Launch
ROLLOUTROLLOUTTactical
Operational readiness
LAUNCHLAUNCHStrategic
Brand and market awareness
10. LAUNCH PRODUCTS
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The ExecutionThe Execution
10. LAUNCH PRODUCTS
1. Take the “SO WHAT” test
2. Determine timing & venues
3. Create script
4. Stage the events
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The So The So ““What TestWhat Test””
To launch or not to launch
1. Market hype?
2. Customer success metrics?
3. One of the first to offer?
10. LAUNCH PRODUCTS
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Market Timing vs. Product AvailabilityMarket Timing vs. Product Availability
• Huge market hype
• First to offer
• Hungry press
• Customer success
• Quantifiable metrics
60 DaysGA Date
180 Days 120 Days 90 Days30 Days 60 Days
10. LAUNCH PRODUCTS
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EXECUTEEXECUTE Your Way To Market Your Way To Market Leadership!Leadership!
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Classroom & Onsite CoursesClassroom & Onsite Courses
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Online CoursesOnline Courses
1. The Process: An Overview of Product Management & Product
Marketing Execution (FREE)
2. How to Build a Balanced Product Delivery Team
3. How to Create a Business Requirements Document
4. How to Incorporate Focus Groups Into Your Process
5. How to Create Product Literature
6. How to Conduct Product Training for Salespeople
7. Three Keys to a Successful Product Demo