PRODUCT MANAGEMENT & PRODUCT MARKETING … Meeting... · 4 | ©2006 ZIGZAG MARKETING Full Circle Back to Execution 1. Grow product revenue 2. ... Source: CMO Council & KnowledgeStorm,

1 | ©2006 ZIGZAG MARKETING

PRODUCT MANAGEMENT & PRODUCT MANAGEMENT & PRODUCT MARKETING EXECUTIONPRODUCT MARKETING EXECUTION

John Mansour


Remember Execution?Remember Execution?

Before the internet bubbleRevenue Happy customers

During the internet bubbleGreat ideasPie in the sky business plansHype


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


Full Circle Back to ExecutionFull Circle Back to Execution

1. Grow product revenue

2. Create loyal customers


Product Management & MarketingProduct Management & Marketing

What you should do1,000,000 thingsTo the Nth degree

What you can doA few thingsVery well


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


1. ASSESS MARKETS1. ASSESS MARKETS


1 2 3 4 5

1. ASSESS MARKETS


Target Market SegmentsTarget Market Segments

Product Roadmap

MarketingStrategy

Sales Execution

Target Customer Acquisition

1. ASSESS MARKETS


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


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


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


ExerciseExercise

1. Choose a market segment

2. Key trend or market driver

3. Resulting C-level challenge

1. ASSESS MARKETS


2. FORMULATE STRATEGY2. FORMULATE STRATEGY


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


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



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?)



The ExecutionThe Execution

1. Bold headings, graphs, charts, numbers

2. Create your pitch and sell it

3. Get approval

4. Communicate



Stick to the PlotStick to the Plot

This Year

Next Year



3. ALIGN THE TEAM3. ALIGN THE TEAM


SalesIssues

MarketingFire Drills

DevelopmentProblems

SqueakyCustomer

“Opportunity of a

Lifetime”

RFP’s orDemos

Technical SupportProblem

Contract Issues

Product Manager

3. ALIGN THE TEAM


Product ExpertsProduct Experts

Should a product manager be the ultimate product expert?

3. ALIGN THE TEAM


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


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



1. Define product delivery process

2. Map roles & personalities to process

3. Responsibilities & deliverables

4. Synchronize

3. ALIGN THE TEAM


Synchronize ExerciseSynchronize Exercise

3. ALIGN THE TEAM

Product Management

FunctionalDesign

Product Development

Product/Segment Marketing


4. CREATE PRODUCT PLANS4. CREATE PRODUCT PLANS


What Plan? It Never Stops!What Plan? It Never Stops!

Product Management

Product Development

Prospects Customers Services SupportExecutivesSales

4. CREATE PRODUCT PLANS


Product Release Planning & Regimen Product Release Planning & Regimen Major ReleasesMajor Releases

Q1 Q2 Q3 Q4


P2 R2P1R1


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



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



The ZIGZAG Requirements FunnelThe ZIGZAG Requirements Funnel


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


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


SolutionSolution

ProblemProblem


Execution Execution -- Create Product PlansCreate Product Plans


1. Define planning schedule

2. Formalize the input process

3. Create the plan

4. Approve &Communicate


5. DEVELOP PRODUCTS5. DEVELOP PRODUCTS


5. DEVELOP PRODUCTS


Strategy


UserDesign

Build,Test,QA

Rollout&


The Typical ProcessThe Typical Process

Product ReleasePlans

Inside the 4 WallsInside the 4 Walls

Beta Test

5. DEVELOP PRODUCTS


Strategy


UserDesign

Build,Test,QA

Rollout&


The Typical ResultThe Typical Result

Beta Test

Product ReleasePlans

5. DEVELOP PRODUCTS


Strategy


ReleasePlans

UserDesign

Build,Test,QA

Rollout&


Validate Early & OftenValidate Early & Often

ValidateProblems &Solutions

ValidateVisual

Concepts

ValidateUsability

ValidateMarket

Landscape

ControlledRelease

5. DEVELOP PRODUCTS


Involving Target UsersInvolving Target Users

General Motors

Dannon Yogurt

Unilever

Taco Bell

Whirlpool

5. DEVELOP PRODUCTS



1. Form a project focus group

2. Validate problems & solutions

3. Validate design & usability

4. Validate marketreadiness

5. DEVELOP PRODUCTS


6. POSITION PRODUCTS6. POSITION PRODUCTS


Rule #1Rule #1

It’s not about what the product does

IT’S WHY YOU NEED IT!

In plain simple English

6. POSITION PRODUCTS




Rule #2Rule #2

What differentiates you?

In 10 words or less! (plain simple English)



ItIt’’s the Network!s the Network!



Positioning HierarchyPositioning Hierarchy

COMPANY POSITIONING - Brand

Market Segment 1 Market Segment 2 Market Segment 3

Unique Differentiation



Value Anchors

Value Anchors

Value Anchors



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




1. Define brand & differentiation

2. Define most common problems

3. Solutions & features


4. Benefit (C-Level)


ConsistencyConsistency

Core Value Anchors & DifferentiationCore Value Anchors & Differentiation

Sales Presentations Demos Marketing

Materials Web Site

TelephoneScripts

Direct Marketing

TradeshowSignage

PressReleases

AnalystRelations



77--8. PLAN & EXECUTE ROLLOUT8. PLAN & EXECUTE ROLLOUT


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


Coordination & Self SufficiencyCoordination & Self Sufficiency


Release Start Release Finish Line

Product Development

Professional Services & Training

Operations

Technical Support

Sales

Marketing




1. Assemble rollout team

2. Create rollout project plan & scope

3. Create deliverables

4. Train & certify


9. GENERATE DEMAND9. GENERATE DEMAND


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


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


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


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



9. GENERATE DEMAND

1. Market segment focus & message

2. Compelling call to action

3. Lead follow-through

4. Measure


10. LAUNCH PRODUCTS10. LAUNCH PRODUCTS


Rollout vs. LaunchRollout vs. Launch

ROLLOUTROLLOUTTactical

Operational readiness

LAUNCHLAUNCHStrategic

Brand and market awareness

10. LAUNCH PRODUCTS



10. LAUNCH PRODUCTS

1. Take the “SO WHAT” test

2. Determine timing & venues

3. Create script

4. Stage the events


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


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


EXECUTEEXECUTE Your Way To Market Your Way To Market Leadership!Leadership!


Classroom & Onsite CoursesClassroom & Onsite Courses


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

PRODUCT MANAGEMENT & PRODUCT MARKETING … Meeting... · 4 | ©2006 ZIGZAG MARKETING Full Circle Back to Execution 1. Grow product revenue 2. ... Source: CMO Council & KnowledgeStorm,

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