what winning product teams are doing right in today's economy

lWelcome to What winning product teams are doing

right in today’s economyInnovation Management Solutions

right in today s economy

Today’s presenter: Tom GrantForrester Senior Analyst

Association of International Product Marketing and Management

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Forrester Senior AnalystMay 28, 2009, 10am Pacific, 1pm Eastern

T h i l h l

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The innovation imperative

• The importance of getting it right• The need for certaintyThe need for certainty• Listening to your market• Web 2 0 enabling new solutionsWeb 2.0 enabling new solutions



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What winning teams areWhat winning teams are doing right in today’s economyeconomyUsing social media to power innovationg p

Tom GrantTom GrantSenior AnalystForrester ResearchMay 28, 2009

Innovation is both anart and a science. Socialmedia help with both.

5 Entire contents © 2009 Forrester Research, Inc. All rights reserved.

Agenda

• Innovation and its discontents

Th i f i l di• The promise of social media

• Next steps


Agenda

• Innovation and its discontentsTh i f i l di• The promise of social media

• Next steps


Innovation, we hardly knew ya

How we wish i ti ld kinnovation could work

INVENTOR CONSUMERINVENTOR CONSUMER



IDEATIONOther people inIt’s not just for

engineers any more.

Other people in your company

Customers andpartners



INVENTIONI —It requires perspective—on the technology, the

use case and thebusiness case

use case, and thebusiness case

INVENTOR INTERNAL STAKEHOLDER

Is this a good fit for our company?What’s in it for us?

What’s in it for the customer?


What s in it for the customer?


ADOPTIONIt’s not strictly under

your control.

Do we understand what you’ve built?Does it address our problem?


pWho makes the decisions to buy or implement?

Actually, we did sorta know you

SOURCE: Everett Rogers, The Diffusion Of Innovation (1964)


Bad information cripples innovation

IdeationIdeation InventionInvention AdoptionAdoption

Unrepresentative samplesUnrepresentative samples

Undersized samplesUndersized samples

Customers you already knowCustomers you already know

Features, not use casesFeatures, not use cases

Don’t understand usersDon’t understand users

Don’t understand stakeholdersDon’t understand stakeholders

Sporadic data collectionSporadic data collection


The trough of ignorance

Active datacollection fromtarget customers

IDEATION INVENTION ADOPTION


Bad information cripples innovation

• EXAMPLE: The customers you already knowIdeation Fanbo ism– Ideation: Fanboyism

– Invention: Market development

Ad ti N d t k h ld– Adoption: New users and stakeholders


Traditional sources should worry you

Top 3 Sources Limitations

Customer meetingsCustomer meetings A lot of work for a small sampleMay talk to the wrong userNot the customers you don’t have

A lot of work for a small sampleMay talk to the wrong userNot the customers you don’t have

E-mail feedback from customersE-mail feedback from customers

Incidental after-effectsYour language, not the user’sNot the customers you don’t have

Incidental after-effectsYour language, not the user’sNot the customers you don’t have

Bug reportsBug reports Incidental after-effectsTechnical issues, not use casesNot the customers you don’t have

Incidental after-effectsTechnical issues, not use casesNot the customers you don’t have

Source: June 16, 2008, “Improving Your Product Management Tools”


Agenda


Th i f i l di• The promise of social media• Next steps


Good information helps innovation

INNOVATION CHALLENGEINNOVATION CHALLENGE HOW SOCIAL MEDIA CAN HELPHOW SOCIAL MEDIA CAN HELP

Unrepresentative samplesUnrepresentative samples

Undersized samplesUndersized samples

C t l d kC t l d k

Peruse a greater variety of sourcesPeruse a greater variety of sources

Enlarge the poolEnlarge the pool

G b d fG b d f

Don’t understand usersDon’t understand users

Customers you already knowCustomers you already know

Features, not use casesFeatures, not use cases

Hear what matters to themHear what matters to them

Go beyond your forumsGo beyond your forums

Listen to users directlyListen to users directly

Don t understand usersDon t understand users

Don’t understand stakeholdersDon’t understand stakeholders

Sporadic data collectionSporadic data collection

Hear what matters to themHear what matters to them

Understand the decision-makersUnderstand the decision-makers

Combine feeds and projectsCombine feeds and projectsSporadic data collectionSporadic data collection Combine feeds and projectsCombine feeds and projects


What do you mean by social media?

YOUR SITESYOUR SITES


What do you mean by social media?

OTHER PEOPLE’S

OTHER PEOPLE’S

SITESSITES


What type of question are you asking?

COREQUESTIONCOREQUESTION ASPECTSASPECTS

PROBLEMPROBLEMPersonaSolutionPersonaSolutionFor whom are we For whom are we

QUESTIONQUESTION

PROBLEM-CENTRIC

PROBLEM-CENTRIC

SolutionMarketInnovation

SolutionMarketInnovation

building technology?building technology?

PRODUCT-CENTRIC

PRODUCT-CENTRIC

PrioritizationInventionDesign

PrioritizationInventionDesignWhat technology

should we build?What technology should we build?CENTRICCENTRIC g

RoadmapCompetition

gRoadmapCompetition

should we build?should we build?


What type of data do you need?

IN-DEPTHIN-DEPTH

Understand the bigger context

Reach the “Aha!” moment

Understand the bigger context

Reach the “Aha!” moment

I fidI fid

Anticipate issuesAnticipate issues

AGGREGATEAGGREGATE

Increase confidence

Estimate business impact

Increase confidence

Estimate business impact

Identify and segment marketsIdentify and segment markets


Now, take your pick

Vendor f

Independentblogs

forumsVendor

innovation sites

Vendor bl

Independentforums

blogs

d d

T P

sitesblogs

Vendor Wikis

Independentnetworking

Social

RO

DU

C RO

BLE

Vendor code libraries Micro‐

blogging

bookmarking

Collaborativeaggregation

PREM

Vendor

Vendor subscription

bloggingOpen sourceprojects

Independent


networkingp

code libraries

Agenda


Th i f i l di• The promise of social media

• Next steps


Define the problem you want to solve

• Long-term– Where can social media do the most good?Where can social media do the most good?

•EX: Not breaking out of our current market

– What are the measurable outcomes?

•EX: Can reach decision on new market, strategy for entry in no more than 3 months

Sh t t• Short-term– How can we best get started?

•EX: Understand people with similar use cases in an adjacent•EX: Understand people with similar use cases in an adjacent market

– What are the measurable outcomes?


•EX: Identify and profile all personas involved in new use case

Be methodical about how getting answers

Who is the target user or stakeholder?Wh t bl d th f ?Who is the target user or stakeholder?Wh t bl d th f ?PERSONAPERSONA What problems do they face?What tasks do they perform?What problems do they face?What tasks do they perform?

How do people in this demographic use i l di ?

How do people in this demographic use i l di ?LOCATIONLOCATION social media?

Where can I find them?social media?Where can I find them?

What is the question that we want to pose?Wh h i hi h ’What is the question that we want to pose?Wh h i hi h ’OPTIONSOPTIONS What are the options among which we’re choosing?What are the options among which we’re choosing?

How do we get a credible, actionable How do we get a credible, actionable TESTTEST answer?answer?


Success requires investment

• New sourcesSome sponsored some disco ered– Some sponsored, some discovered

• New roles– “Community manager”

– Assists both inbound and outbound

• New skills– Social scientific disciplines (aggregate, in-depth)

– Does your team have them?


Success requires investment

• New deliverables– Personas use cases solution architecturesPersonas, use cases, solution architectures

– Reports, dashboards

• New projectsNew projects– Ongoing research

– Incidental research

– Skills upgrade

• New tools– Accelerate, simplify the process

– Translate into actionable product terms

Fit i t tf li


– Fit into your portfolio

New information management challenges

COLLECTION ANALYSIS DECISION COMMUNICATIONCOLLECTION ANALYSIS DECISION COMMUNICATION

Are we lookingat the rightsources?

How do wemake senseof the data?

Are we usingthe data theright way?

How do we sharethe data and our

decisions?


Stages of an inbound social media strategy

PM skillsexpansion

Goals forsocial media

Pilot social

expansion

Changes to

Productdecisions

PM skillsinventory

Pilot socialmedia project

Changes toPM roles

Future S.M.First major

S.M. projectsprojects

INITIATION PILOT ADJUSTMENT LAUNCH


Make innovation work

ADOPTIONINVENTIONIDEATION ADOPTIONINVENTIONIDEATION

Capturing, understanding, Deciding what

Finding thepath to g,

and evaluatingideas

gto build

pthe user

Seeking inspiration through d di

Making thebusiness case for b ildi i

Ensuringsuccessfuladoption


understanding building it

Thank you

Tom Grant

+1 650.581.3846

[email protected]

http://blogs.forrester.com/product_management

@TomGrantForr@TomGrantForr


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