The Strategic Role of Product Management & Product Marketing in
Driving Product Revenue & Success
Tom Evans
CompellingPM
@compellingpm
Copyright 2015. The Lûcrum Group, Inc. 1
DFW Product Group
• DFW Product Group is the premier product management and marketing association in the Dallas/Fort Worth metroplex
• 300+ active members
• 2015 roadmap includes webinar series, networking mixers, and ProductCamp DFW
• Website: http://dfwproductgroup.org/
• LinkedIn: https://www.linkedin.com/groups?gid=2796125
• Twitter: @DFWProductGroup
• Email: [email protected]
• Actively seeking new members, volunteers, and sponsors
Copyright 2015. The Lûcrum Group, Inc. 2
The Strategic Role of Product Management & Product Marketing in
Driving Product Revenue & Success
Tom Evans
CompellingPM
@compellingpm
Copyright 2015. The Lûcrum Group, Inc. 4
The Big Question
• Should Product Management/Marketing Take Responsibility for Product Success or Failure?
– Yes: The Product Manager is CEO of the product and the buck stops there!
– No: We don’t have direct control of those (engineering, sales, marketing, etc.) who ultimately impact the success!
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Signs of a Tactical Product Manager
1. Main job is writing requirements
2. Spends lots of time helping engineering
3. Is the demo boy/girl
4. Main job is writing marketing collateral
5. Spends much of day answering questions & fighting fires - engineering/sales/marketing
6. Manages the schedule (development, marketing, etc) (Aka – Project Mgmt)
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Bad PM = Product Janitor
• Instead of working on the critical things that will make a big difference for your product and thinking strategically, the product manager [& product marketer] end up doing thankless low-level work that is not appreciated (and many times not necessary.)
Brian Lawley, 280 Group
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“Being a good product manager is so hard that most product managers at most companies fail
to be good -- and instead are bad.”--Ben Horowitz and David Weiden
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Good PM v. Bad PM
Good Bad
Based on knowledge & confidence They think that….
Owns success of productToo many factors outside their
control
CEO of ProductMarketing resource for
engineering
Drives the what & why Defines the how
Grows the business Builds bells & whistles
Tells the story Presents features
Defines their role Others define role
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Reference: Ben Horowitz, 1996
How Do We Transform?
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Discover Value
Create Value
Communicate Value
Deliver Value
Capture Value
Identifying Levers of Control
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Financial MetricsStrategic Metrics
Product Success
Identifying Levers of Control
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Financial MetricsStrategic Metrics
Sell More
Higher Price
Lower Cost
Product Success
Identifying Levers of Control
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Financial MetricsStrategic Metrics
Sell More
Higher Price
Lower Cost
Product
Price
Place (Channel)
Promotion
Product SuccessKey Levers/Tools
Strategic Levers of Control
16
Product
Price
Place (Channel)
Promotion
Creating Leverage
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Strategic Levers of Control
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Product
Price
Place (Channel)
Promotion
Creating Leverage
Go-to-Market Strategy
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Defining Leverage
Strategic Levers of Control
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Product
Price
Place (Channel)
Promotion
Creating Leverage
Go-to-Market Strategy
Market Analysis (Context)
Discovering Leverage
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Defining Leverage
Executional Levers
Go-to-Market Strategy
Target Markets PositioningCompetitive
StrategiesMessaging Platform
Alignment to Business Drivers
Market Analysis
VOC Competitive Analysis Ecosystem Analysis
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Executional Levers
Product
• Define Whole Product
• Effective Requirements
Price
• Value Based Pricing
Place (Channel)
• Sales Tools
• Sales Enablement
• Channel Programs
Promotion
• Product Marketing Tools & Content
• Product Marketing Programs
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Leveraging the Levers - 1
• VOC– Better understand customer problems and value
– More compelling messaging & sales tools
– More effective marketing programs
• Competitive Analysis– Know competitions strengths & weaknesses
– Create best competitive position
• Ecosystem Analysis– Understand market dynamics, threats & opportunities
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Leveraging the Levers - 2• Target Markets
– Everyone knows who you’re selling too– More effective use of development and marketing investments
• Positioning– Stake your claim in the market– Resonate with your target markets
• Competitive Strategies– How to win against the competition
• Messaging Platform– Ensure consistent & effective messages to the market– Resonate with your target markets
• Alignment to Business Drivers– Create value for the company
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Leveraging the Levers - 3
• Whole Product– Deliver the complete value customers expect
– Sell more product & maximize value
• Effective Requirements– Engineering builds the product customers need
– Sell more product
– Maximize value created
• Value-Based Pricing– Maximize revenue on your product
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Leveraging the Levers - 4
• Sales Tools
– Help buyers make a buying decision in your favor
• Sales Enablement
– Improve close ratios, better pricing, increase revenue
• Channel Programs
– Keep sales team motivated
– Squeaky wheel gets the grease
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Leveraging the Levers - 5
• Product Marketing Tools & Content
– Clearly communicate value proposition
– Driver awareness and leads
– Improve conversion ratios throughout the funnel
• Product Marketing Programs
– Driver awareness and leads
– Improve conversion ratios throughout the funnel
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Go-to-Market Webinar Serieshttp://compellingpm.com/go-to-market-webinar-series-with-dfw-product-group/
Webinar Title Date
The Strategic Role of Product Management & Product Marketing in Driving Product Revenue & Success
Apr 23
Developing a Deep Understanding of Your Target Markets – The Starting Point for Great Product Marketing
May 28
Define a Powerful Go-to-Market Strategy That Sets Your Product Apart June
Great Requirements Form the Foundation for Successful Products July
Profitable Products Sell Value: Why Value-Based Pricing Wins August
From Messaging Nightmare to Messaging Delight: How to Create a Powerful Messaging Platform
Sept
Create Effective Sales & Marketing Tools That Actually Get Used By Sales & Prospects Oct
Nothing Happens Until Someone Sells Something: Enabling Your Sales Channel to Success Nov
Driving the Marketing and Sales Funnel to Close Deals: What Product Marketers Must Know and Do
Dec
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Next Webinar
Developing a Deep Understanding of Your Target Markets: The Starting
Point for Great Product Management & Marketing
May 28, 2015
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Upcoming Training
• AIPMM Certifications– June 8 – 9 (CPM – Austin)
– June 10 – 11 (CPMM – Austin)
• Optimal Product Management & Product Marketing– Sept 21 – 23 (Austin)
– Dec 7 - 9 (Austin)
More dates/locations - www.280group.com
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Free 1 Hour PM/PMM Consult
• First five to submit information on form
• http://compellingpm.com/freeonehour/
• Please include background on topic or issue
• Must include company info (no Gmail)
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Thank You!
Tom Evans
CompellingPM
@compellingpm
www.compellingpm.com
Copyright 2015. The Lûcrum Group, Inc. 31
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