optimizing product marketing boston product camp 2016 - saeed khan

Copyright © Saeed Khan 2016

Optimizing Product Marketing in your CompanySaeed KhanApril 9, 2016

www.OnProductManagement.net

@saeedwkhan, @onpm

http://www.onproductmanagement.net/



How to Optimize Product Marketing

Define it and truly understand the goals of product marketingOrganize it correctly and staff it with the right peopleImplement clear, efficient and repeatable communication modelsTrack, measure and optimize

1.

2.

3.

4.


1WHAT IS THE DEFINITION OFPRODUCT MARKETING?


PRODUCT MARKETING IS STRATEGIC MARKETING AT THE PRODUCT OR PRODUCT LINE LEVEL WITH A FOCUS ON THE BUYING PROCESS


PRODUCT MARKETING IS A CROSS FUNCTIONAL DISCIPLINE, AT THE CENTER OF PROUCT, SALES, MARKETING, PROSPECTS, INFLUENCERS AND BUYERS


PRODUCT MARKETING

Product

Marketing

Sales

Prospect

Buyer

Influencer


PRODUCT MARKETING IS RESPONSIBLE FOR:1. DEVELOPING POSITIONING,

MESSAGING, COMPETITIVE DIFFERENTIATION & LAUNCH PLANS

2. ENABLING THE SALES AND MARKETING TEAMS TO ENSURE THEY ARE ALIGNED AND WORK EFFICIENTLY TO GENERATE AND CLOSE OPPORTUNITIES.


2HOW SHOULD PRODUCT MARKETINGBE STAFFED & ORGANIZED?


SUPERHEROES?


ROCK STARS?


HIRE THE RIGHT PEOPLE INTO THE RIGHT ROLES & EXECUTE ON THE RIGHT ACTIONS


DO

THIS


NOT

THIS


HAVE

DIFFERENTIATEDROLES ON THE TEAM


ALIGN ROLES WITH BUSINESS/SALES DRIVERS AND GOALS

NOT SIMPLY BY PRODUCT


PRODUCT MARKETING

Product

Marketing

Sales

Prospect

Buyer

Influencer

Technical Product Marketer

Solution Product Marketer

Product Marketing Director Competitive

Analyst


3IMPLEMENT CLEAR, EFFICIENT AND REPEATABLE COMMUNICATION MODELS


COMMUNICATION PATHWAYS

Product Strategy

ProductManagement

Engineering

ProductMarketing

Marketing

Sales & Alliances

Professional ServicesTechnical

Support

Technical Presales

Industry Analysts

Technology Partners

Offshore Developers Customers

System Integrators

OEM Partners

PR Agencies

VARs Distributors


ProductManagement

Offshore Developers

Technology Partners

Industry Analysts

VARs Distributors

OEM Partners

System Integrators

Customers

PR Agencies

Product Strategy

Engineering

Technical Support

Technical Presales

ProductMarketing

Professional Services

Sales & Alliances

Marketing

Each “Team” includes many people and interactions

Inter-Team Communication


Inter-Team CommunicationAnd those people are likely spread across the globe



How do people “manage” this today?• Tracking Software• Status meetings, Conf Calls• Emails, Spreadsheets• Shared Folders, Portals• Dashboards, Webinars• Micro-sites, Portlets• “It’s up on Sharepoint”


Inter-Team Communication

This happens for every release of every product

your company sells


Is this communication model timely, complete and

accurate?Possibly.


Is this communication model efficient,

adaptive and scalable?

Absolutely not!


Communication is like Manufacturing.

So what can we learn from Lean

Manufacturing?


Lean Production

• Lean is a production practice that considers the expenditure of resources for any goal other than the creation of value for the end customer to be wasteful, and thus a target for elimination.

Source: Wikipedia


Lean Production

• Working from the perspective of the customer who consumes a product or service, "value" is defined as any action or process that a customer would be willing to pay for.

• Basically, lean is centered on preserving value with less work.

Source: Wikipedia


Principles of Lean

• Focus on the (information) customer• Empower the team• Optimize the whole• Plan for change• Build Quality In • Continuously improve• Eliminate waste


Creating a Lean Process

1. Specify what creates value from the customers (audience) perspective

2. Identify all the steps along the process chain

3. Make those processes flow 4. Make only what is pulled by the customer

(audience)5. Strive for perfection by continually

removing waste


Who needs information? What do they need?When do they need it?Who must provide it? How is it optimally delivered?

Flow of Information and Communication



Product Strategy

ProductManagement

Engineering

ProductMarketing

Marketing

Sales & Alliances

Professional ServicesTechnical

Support

Technical Presales

Industry Analysts

Technology Partners

Offshore Developers Customers

System Integrators

OEM Partners

PR Agencies

VARs Distributors

One Information Chain


Product Strategy

ProductManagement Product

Marketing Sales & Alliances

Customers

Information Needs along the Chain


Product Strategy



Customers


Does the product meet my needs?Will it work in my environment?What are the costs?What are the benefits?

Start with the end “customer”


Product Strategy



Customers



I need a data sheet and technical collateralI need SKUs and pricing informationI need an ROI calculatorWho are the reference accounts I can provide?


Product Strategy



Customers


What does the product do?Who can benefit from it?What are those benefits?How is it licensed?How is it positioned versus the alternatives?




Product Strategy



Customers



What market problems do we address?How can we outflank our competitors?What product changes do we make to maximize revenue?What are the objectives of the release?




Product Strategy



Customers






Do the product goals support overall business objectives?How can we grow our existing customer base?What market changes will we have to react to?What go-to-market strategy do we need?


Product Strategy



Customers

Deliverables Created In the Chain





Market AssessmentProduct StrategyTechnology StrategyCompetitive Landscape


Product Strategy



Customers



Market RequirementsProblem StatementsCompetitive AnalysisProduct RoadmapRelease Overview



Market AnalysisProduct StrategyTechnology StrategyCompetitive Landscape


Product Strategy



Customers






Product PositioningData SheetsWhite PapersPrice booksSuccess StoriesSales Tools


Product Strategy



Customers






Product PresentationsROI AnalysisCustomer Business CaseProof of Concept


Product Strategy



Customers


Product PresentationsROI AnalysisCustomer Business CaseProof of Concept



RFI/RFPBusiness JustificationImplementation Plan



MAP INTO DECISION PROCESS FROM SUSPECT TO

CHAMPIONSUSPECT PROSPECT EVALUATOR BUYER INFLUENCER CHAMPION

THE CHAMPION’S JOURNEY


Structure the informationSuspec

tProspect Evaluato

rBuyer Influenc

erChampio

nGoalsRequired InformationGo forward DecisionNeeded ContentDelivery MechanismWho are the people (roles) at each stage?How can we best deliver the information for easiest consumption?How can we make it AS EASY AS POSSIBLE for them to achieve their goals?


4TRACKMEASUREOPTIMIZE


• How do you know how well you are doing?

• What kind of metrics do you track in Product Marketing?

• Do you track anything?– Pipeline? Opportunities? Sales?– Tweets? Likes? Hearts?


What kind of Metrics are meaningful?THINK META If someone is measuring distance, you need measure VELOCITYIf someone is measuring velocity, you need to measure ACCELERATION

What are the metrics that will Predict/Drive/Enhance the downstream metrics.


What kind of Metrics are meaningful?If Marketing measures the # of people entering the sales funnelProduct Marketing should measure how FAST they are moving through the sales funnel

– What can you do to help them move faster?

– What barriers are they facing?– Why are they dropping out?– What prevents them from moving faster?


What kind of Metrics are meaningful?Are your employees using the right content? If so, who, when and how?

If not why not? Can you improve this over time?

Treat this process like a product? V1 must work, but it won't be

great.V2 will be betterV3 will be even better


It's a competition for mindshareAnd remember that your competitors are competing for that same mindshare.If they can do this job better than you, they will win.


SUMMARY1. DEFINE PRODUCT MARKETING AND

UNDERSTAND IT’S GOALS2. ORGANIZE IT CORRECTLY AND

STAFF IT WITH THE RIGHT PEOPLE• Differentiated Roles, T-shaped Teams

3. IMPLEMENT CLEAR, EFFICIENT & REPEATABLE COMMUNICATION MODELS• Lean manufacturing model, Champions

Journey

4. TRACK, MEASURE AND OPTIMIZE• Think Meta, Battle for mindshare


Optimizing Product Marketing in your CompanySaeed KhanApril 9, 2016

www.OnProductManagement.net

@saeedwkhan, @onpm

