Social product management final

Social Product Marketing & Management

Paul DombowskyCEO - Ideavibes

Anastasia ValentineCEO – Sandbox PM

The Ideavibes Crowd Engagement Platform™ enables organizations to create crowdsourcing and crowdfunding campaigns that use the power of social media and tapping into the wisdom of crowd to strengthen relationships through engagement and participation. It’s about starting innovative projects, building better products, setting new directions and being more crowd- or community-focused, funding worthy initiatives and sparking social change.

About Us!

Sandbox PM, an idea to launch company provides all sizes of organizations with support and services from idea through to launch. Taking the role of your extended team, Sandbox PM will play a hands on role in your success in introducing your company, products and services to the market.

Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.


The Product Manager is the hub of information and activity for any

products company.

Social Business Strategy

VisibleAccessibleMobile

ReliableValuableTrusted


It is not enough to be present, you must engage & be

engaging!”

People are talking


ConversationsProducts

Services

People

Company

Events Trends

Innovation

Features

Pain points

Competition

Are you listening?

Traditional OLD Engagement

Product Managem

ent

Known Customer

s

Usability tests

Beta Programs

Surveys


MarketingReach

Direct Mail

eMail

Physical Events

Telemarket-ing

Social Media

Online Ads

Blogs

Online Influencer(s)

SEO

Virtual Events

Mobile


Product Management

Customers

Advisory Boards

Technology Trends

Industry Trends

Competition

PartnersProspects

Crowd sourcing

Stake-holders

Investors

Influencers

Analysts


Product Management Gets SocialCreate social media conversations for:

◦Idea/Requirements gathering◦Validation (strategy, requirements,

usability +)◦Use Cases, User Stories◦Persona development◦Beta recruitment◦Success stories◦Testimonials◦Usability / Product Appeal◦Scalability



“An outside-in approach increases the likelihood of

product success.” - Pragmatic Marketing

When and How To Get Social?

When – ALL THE TIMEHow?

◦Target◦Join in◦Listen & Observe◦Attract & Engage ◦Repeat


TargetTarget your ideal crowd of:

◦Influencers◦Like minded◦Prospects◦Customers◦Partners◦Competitors

How?◦Profiling◦Research


The Social Media Influencer

Credibility in the marketLarge, qualified followingHeavily engaged with their

audienceReliable & consistentInformation consistently shared

by followingTrusted by your targets

Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without writ.ten consent.

Don’t underestimate the power and value of a social media influencer.

Join in!

GO! Join in!Ask your crowd where they goResearch where your

industry/competitors goFocus & only go where your

targets go◦Join◦Like◦Follow◦Connect◦Share


Listen & Observe


Listen for:◦Market needs / pain◦Trends (technology & industry)◦Feature requests◦“delight the customer” opportunities

Observe for:◦Influencers◦New players◦Tactics that work / & don’t◦Competitor #fails

Listen & ObserveMost popular

listening/observation posts:

◦Twitter Follow your target(s) Monitor their hashtags (#)

◦Linkedin Join all industry & subject matter

groups Connect to all of your known peers Follow target companies


Attract & Engage!Create a reliable pattern of engagement

◦ Ask meaningful questions (daily)◦ Answer relevant (high visibility) questions

(daily)◦ Provide meaningful information (daily)◦ Declare a call to action (daily)◦ Follow up & follow through◦ Invite to participate


Be Socially Responsible!

“YOU SAID WHAT?!?”

Right person in the social roleClear rules of engagement Empowered & trusted to respondKeep it Simple Sir/Sista (KISS)

Social Product Management ROI

Measure Numbers! (they never lie)◦Followers

# of followers, likes, people in circles, etc.

◦ Ideal Follower # of qualified followers, likes, people in circles,

etc.

◦ Influencers # of influencers in your space

◦Reach # of shares, +1’s , tweets, favorites, etc…

◦Conversions # of signups, transactions, revenue, attendance,

etc..Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.

Social Product – ROI – How To!1. Create your social campaign2. Create some educated

measures of ROI3. Let the campaign run for 2

weeks4. Measure your ROI5. Course correct & refine ROI

goals6. Measure well & measure often


Be RUTHLESS. If it isn’t generating value or converting, it is COSTING

you money.KILL IT & try something else!

Social Product – ROI – How To!Time to invest (Time)

Research Campaign Engagement

Money to spend (Money)

Tools / Platform Promotions / Advertising Memberships


Time + Money = INVESTMENT

Conversions = RETURN

RETURN – INVESTMENT = ROI

If ROI is >0 Then Keep GOING!If ROI is <0 Then STOP & RETUNE

Positive Social Disruption!Follow all of your competitors SM AccountsMonitor all competitive

◦ Forums◦ Hashtags

Get on your competitors◦ Mailing lists

Attend your competitors◦ Webinars◦ Tradeshows◦ Twitter chats◦ Google Hangouts◦ Etc.


Disrupt Business as UsualNOT FOR THE FAINT OF HEART

OR THE CONSERVATIVERespond to competitive feature

requestsPositive engagement on competitive

hashtagsMonitor competitor

weaknesses/complaintsProvide solutions to competitive

product problems


Positive Disruption is great. Negative disruption is bad

business.

Fixing a #FAIL


WHAT TO DO IN A “SITUATION”


ACKNOWLEDGE

OWNADDRESS

REPORT BACK

DefinedCrowdsourcing is an engagement process whereby organizations seek input from either open or closed communities of people, either homogenous or not, to contribute ideas, solutions, or support in an open process whereby the elements of creativity, competition and campaigning are reinforced through social media to come up with more powerful ideas or solutions than could be obtained through other means.

Why Bother?Organizations have a difficult time engaging with their communities to strengthen their relationship and be citizen focused. Internal or external, the community has ideas that can be harnessed that come from diverse backgrounds, experiences and education.

What is Crowdsourcing?

31

Internal

Experts

Emergent Experts(online community leaders, product advocates)

Customers &Prospects

Who is your crowd?

32

EngagementTargets

Strong brands foster active crowds• Element of trust

• It only takes one disingenuous campaign to cause problems for you

• Transparency fosters participation• Social media footprint does matter• Prospects may have bought into your brand but not

your products yet – how are you keeping them engaged?

Does your brand matter?

33

The Appeal

34

• Crowdsourcing surfaces new perspectives• Invites participation from nontraditional

sources • Infuses real energy into the process of generating ideas • Empowers people when they feel their voice is being heard• Technology can enable participation by disenfranchised

(ie. PCs in libraries/shelters with citizen engagement campaigns)

• Builds engagement and relationships with new audiences

Crowdsourcing Pros and Cons

35

PROS• Reduced time to market

• Reduced risk due to early customer input

• Increased customer lifecycle value

• Broader source of innovation

• Strengthened brand through participation

• Organizations can’t have all the brightest people on staff

• Ideas don’t have to be discovered by internal R&D teams to be capitalized upon

• Benefits from varied experiences

CONS• Less control

• Needed trust not easily come by in some organizations

• Requires community management

• Suffers if crowd is too narrow

• Disruptive to traditional timelines for product roll outs

• First attempt is risky until you understand your crowd

• Need to know your target audience

IdeaStorm was created to give a direct voice to Dell’s customers and an avenue to have online “brainstorm” sessions to allow them to share ideas and collaborate with one another and Dell. Their goal through IdeaStorm is to hear what new products or services you’d like to see Dell develop.

In almost three years, IdeaStorm has crossed the 10,000 idea mark and implemented nearly 400 ideas!

36

Example 1: Innovation from the Crowd

Quirky is an all in one product development shop for inventors.

37

Example 2: Product Development from the Crowd

Threadless runs regular campaigns to select designs that are then produced and sold to a ready-made market that participated in the product selection.

38

Example 3: Product Selection by the Crowd

Starbucks uses the same platform as Dell and Salesforce.com for their social product development.

39

Example 4: Product Selection by the Crowd

Example 5: Salesforce

40

What do your current customers want to see on your roadmap?

What features are needed to turn prospects into customers?

Democracy?1 vote = 1 customer

Best Practices

41

• Have a clear strategy for using crowdsourcing• IP Ownership• Competitive visibility

• Break things down so crowd is clear what you are looking for• Build trust

• Be open in your communications about the crowd’s role in the process

• Do what you say you are going to do• ABEYC – always be expanding your crowd

• The crowd needs to be big enough – but not too big• ABRYC – always be refining your crowd

• Creating diversity is as important as creating size

Build a Social Product Strategy

42

• Reach customers & prospects where they live – join in the conversations that are happening already

• Capitalize on valuable customer and prospect insight• Develop a culture of collaboration• Implement the right social technology to get the job done• Communicate results and intentions and be open as

possible• Let conversations happen in the open• Be crowd friendly on an ongoing basis

• Easy to set-up and deploy• Able to run multiple campaigns at once• Can run Crowdsourcing and Crowdfunding Campaigns• Build stickiness and community around those that engage

(sign-in and see past votes, comments, ideas)• Hosted solution (in Canada)• Able to be implemented on existing website or set-up in new,

destination site• Social Media connected• One of few sub $1000/month solutions

Ideavibes Crowd Engagement Platform

43

How Does Ideavibes Compare?

44

• Enterprise Collaboration or Idea Management– Large – multi-functioning platforms for Idea Management– Integrated into change management and process improvement

lifecycles– Chaordix, Bright Idea, etc.

• Middle-tier Focused Crowdsourcing Apps– Purpose-built customizable apps focused on crowdsourcing– Narrow or wide focus– Multiple crowdsourcing and crowdfunding campaigns– Ideavibes, Spigit– Note – Ideavibes is only white label crowdfunding platform available

• Ad-hoc website or Social Media widgets– Developed by web teams with basic functionality– Functionality as opposed to business process driven

Resources

45

• The Wisdom of Crowds – James Surowiecki • Crowdsourcing – Jeff Howe• Crowdsourcing.org• Crowdsortium.org• The Daily Crowdsource

• Presentation will be on Slideshare by end of day today.

10 Day Product Launch Strategy

45

• Free @ www.sandboxpm.com

• Target your ideal customer• Develop marketing messages• Soft launching & customer testimonials• Pricing• Incentives & offers• Your marketing campaign• Spreading the word• Media attention• Systems go!• Launch day

http://www.sandboxpm.com/

Q&A

46

Calls to Action

47

• Download Ideavibes whitepapers on crowdsourcing and crowdfunding www.ideavibes.com

• Sign-up for a 45-Day Free Trial of the Ideavibes Platform at www.ideavibes.com

• Sign-up for the Sandbox PM Product Launch Program• Start a conversation with us about social product management or open

innovation and how it could work for your organization

Paul DombowskyIdeavibes+1.613.878.1681paul@ideavibes.comwww.ideavibes.com

Anastasia ValentineSandbox [email protected]

http://www.ideavibes.com/

http://www.ideavibes.com/

Thank you

Social product management final

Business

Transcript of Social product management final