What Lean Brings to Product Marketing Management by Cindy F. Solomon, CPMM Global Product Management Talk Startup Product March 25, 2014 © Cindy F. Solomon cfsolomon@gmail. com
Cindy F. Solomon, CPMM • Host, Global Product Management Talk • Founder, Startup Product movement for product excellence • Contributing author: Prod. BOK, Product Management And Marketing Body of Knowledge and 42 Rules Product Marketing #13 Emulate Twitter • 20 years of web development, services, consulting & software product marketing and management at Apple, Vadem, Net. Objects and start-ups in Silicon Valley. www. linkedin. com/in/cfsolomon/ © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
1. What is Lean Product Marketing? 2. Distinctions between Product Marketing Management And Product Management 3. How is Product Marketing Management currently handled? 4. Move from Strategic View to Tactical implementation 5. Example of Lean Content Marketing Implementation © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
The Living Company The ability to learn faster than your competitors may be the only sustainable competitive advantage. Arie de Geus http: //amzn. to/1 h. UX 4 fd © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
What is Running Lean? • Speed, learning & focus • Testing a vision by measuring how customers behave • Engaging customers throughout the development process • Product and market validation done in parallel using short iterations http: //amzn. to/1 fb. Bbp. P © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
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Lean Principles http: //bit. ly/1 pt. Vr. I 8 © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Value at every step © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
View of Product Customer smells something grey Support Sales UX QA Dev © Cindy F. Solomon cfsolomon@gmail. com Marketing www. synerzip. com
Goal of Product Marketing The goal and focus for any Product Marketing team is to conceive, develop, deliver, penetrate and endof-life the most successful product(s) within its niche with successful repeat performances again and again. -Peter Buscemi http: //bit. ly/1 o. Wyvml © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Strategic Product Marketing Product marketing management plays a critical role in successfully driving products into the marketplace by understanding the current market environment and developing strategy to drive customer awareness of the benefits of adopting products and solutions. - Cindy F. Solomon Product Marketing Management Manifest 2010 http: //bit. ly/1 jnq. EPK © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
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Product Marketing Activities • Strategic – Market problems, win/loss analysis, distinctive competence , market definition, distribution, product portfolio, business plan, pricing, buy/build/partner, product profitability • Technical – Competitive landscape, technology assessment, product roadmap, innovation, user personas, requirements, use scenarios, status dashboard • Marketing – Positioning, buying process, buyer persona, marketing plan, customer acquisition, customer retention, program effectiveness, launch plan, thought leadership, lead generation, referrals & references • Sales – Sales enablement, sales tools, sales process, collateral, channel training, presentations & demos, special calls, event support, channel support © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Cross Functional View Focusing on where the product is in its lifecycle enables a conversation that brings us all together on what will serve the product most to arrive at product/market fit, sustain growth and generate revenue streams. Startup Product © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Defining Product http: //bit. ly/1 gu. BJg 0 © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Donald Norman mapped lifecycle of products why good products can fail… © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Lifecycle of Products “In its early days, a technology cannot meet all the needs of its customers. Early adopters need the technology and they are willing to suffer inconvenience to get it. With time, the technology matures, offering better performance and higher reliability. When the technology exceeds the basic needs of most of its customers, there is a major change in customer behavior. Emotional reaction, pride of ownership, and pleasurability all can become major selling points. ” © Cindy F. Solomon cfsolomon@gmail. com Donald Norman The Invisible Computer www. synerzip. com
Product Growth Cycle © Cindy F. Solomon cfsolomon@gmail. com http: //bit. ly/1 k. YBida www. synerzip. com
Product Management Lifecycle 1. 2. 3. 4. 5. 6. 7. © Cindy F. Solomon cfsolomon@gmail. com Conceive Plan Develop Qualify Launch Deliver Retire www. synerzip. com
AIPMM Product Management Framework Product Management + Product Marketing http: //amzn. to/1 b 5 t. Qs 5 © Cindy F. Solomon cfsolomon@gmail. com Product Management Product Marketing Product Management + Product Marketing Source: AIPMM © 1998 -2014, All Rights Reserved. www. synerzip. com
1. CONCEIVE To Answer – What is missing? Is there a market? Opportunity? Need? People buy products to get jobs done Important to understand trends & needs better than competitors • Identify ubiquitous pains & unmet necessities • • © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
There is a lifecycle that every product, startup, idea and project passes through to be realized that parallels the “creative process. ” Cindy F. Solomon, CPMM © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
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2. Plan To justify: Why Build it? • Market Requirements Doc (MRD) • Product Canvas / Business Model Canvas • One Page Overviews To justify: What to build? • Product Requirements Doc (PRD) © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
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Positioning Statement Template To: (One Target/Persona Type) is the one (Product/Company Name) that (Category) unlike (Key Customer Benefit) (Differentiator) © Cindy F. Solomon cfsolomon@gmail. com . http: //amzn. to/1 mr 6 Ew 5 www. synerzip. com 26
Lean Canvas © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
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3. Product Development “Product development is a process by which an organization transforms data on marketing opportunities and technical possibilities into information assets for commercial production. ” - Kim B. Clark and Takahiro Fujimoto Product Development Performance © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
MVP Minimal Viable Product “An MVP is about delivering real value to customers for the purposes of maximizing validated learning. ” - Shardul Mehta “It requires judgment to figure out, for any given context, what MVP makes sense. ” - Eric Ries http: //bit. ly/1 dj. E 0 t. P © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
3. Develop Create & Communicate Roadmaps for stakeholders To showcase: What is being Built Aligned with business goals • Feature and schedule tradeoffs • Technical feasibility assessments • Slippage and risks © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
© Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
4. Qualify • Continuous iteration • Beta testing for real world usage & interest level © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
5. Launch © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Product Marketing Drives Product Narrative http: //bit. ly/1 h 38 Pl. L © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
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6. Deliver = Market Contribute value in every interaction http: //bit. ly/1 o. Wno. Kh © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Develop Lean Content • • • Write less and say more Curate Analyze Data Create fast feedback loops Provide on-demand messaging across platforms © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
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Lean Content Marketing 1. Develop strategies based on dynamics of online search, content marketing (brand journalism) and social media 2. Create great content that helps answer your target audience’s questions and solve their problems 3. Publish content on the web and across social media channels 4. Promote content using search engine optimization, permission based e-marketing and social media 5. Manage, maintain, review, update and archive content on an ongoing basis 6. Collect, measure and analyze marketing data to assess engagement, conversion rates, leads and sales © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
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Exploit Visual Content http: //bit. ly/1 g. T 1 MYg © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Twitter • Twitter Is the Leanest Communication Vehicle • Twitter is a broadcast medium with no barrier to entry - anyone who is tuning into Twitter can pick up anyone else's signal. © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Why Twitter “The qualities that make Twitter seem inane and halfbaked are what make it so powerful. ” Jonathan Zittrain, Harvard Law professor, Internet Expert, Author © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Global Product Management Talk Tweeted: “Let’s have a twitter chat for product managers!” Tweet traveled 7400 miles Designed Socratic Twitter Chat format Discovered Difficult to tweet & discuss complex issues Recorded thought leaders via Skype Became top 10 business podcast on Blog. Talk. Radio 3 years >100 podcasts >35 k listeners/episode Community: >2000 SF members, >16 locations Conference: Startup Product Summit (2 X SF) Unconference: Startup Product Open Trainings: Startup Product Academy © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Power of Twitter Chats • Enables a parallel threaded discussion where many people can talk at once • Every voice is heard and documented • Watch the conversation • Identify & reach out to target market/customers/interests • Respond to a tweet/conversation on demand © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Benefits of Twitter Chats • network • share knowledge • increase influence • showcase thought leadership • contribute value © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
![Recommended Tweet Format “Please Retweet: [article name] [by @author] [shortened URL] [optional comment] [#hashtag]”.](https://present5.com/presentation/534e749636c344df006c149611a0d79a/image-49.jpg "Recommended Tweet Format “Please Retweet: [article name] [by @author] [shortened URL] [optional comment] [#hashtag]”.")
Recommended Tweet Format “Please Retweet: [article name] [by @author] [shortened URL] [optional comment] [#hashtag]”. © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Anatomy of a Tweet © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Twitter Chat Best Practices 1. Strategize 2. Plan 3. Promote 4. Produce 5. Lean Content Marketing http: //bit. ly/11 Zu. Mf. Z © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Twitter Chat Format Socratic Method • background content available prior to event • pre-posted questions provided by speaker for participants to answer • participants may answer on their social platform of choice • time boxed for live discussion • twitter conversation occurs before, during and after • enables capturing of educational material with conversation for on-demand viewing and consumption post event © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Twitter Chat Best Practices Post Event Following Each Twitter Chat 1. Capture tweets on storify http: //storify. com/prodmgmttalk/ 2. Post transcript to slideshare 3. Post and repackage content across mediums beyond Twitter scoop. it 4. Blog 5. Reach out to local participants & meetup! © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Daily Content Promotion Tools 1. storify http: //storify. com/prodmgmttalk/ 2. slideshare http: //www. slideshare. net/CFSolomon/ 3. scoop. it http: //www. scoop. it/u/startup-product 4. Bufferapp 5. Blog Medium, Tumblr, Wordpress, blogspot 6. Prlog http: //startupproduct. com/broadcast-news/ © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Special Discount for participants! $75 off code leanpmm http: //bit. ly/1 d. ATYuo © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Key Takeaway #1 Contribute Value in every interaction © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Key Takeaway #2 ASK QUESTIONS © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Key Takeaway #3 LISTEN to what IS & what is NOT being communicated © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Key Takeaway #4 STRATEGIZE © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Content Starts With Who? Why? What? How? © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Thank you for sharing your precious time! Please connect! www. linkedin. com/in/cfsolomon/ @cindyfsolomon Startup Product, movement for product excellence http: //startupproduct. com @startupproduct Global Product Management Talk, weekly broadcast @prodmgmttalk Webcast Digest, daily curated online events @Webcast. Digest © Cindy F. Solomon cfsolomon@gmail. com www. synerzip. com
Questions? www. synerzip. com Hemant Elhence hemant@synerzip. com 469. 322. 0349 www. synerzip. com
Synerzip in a Nut-shell 1. Software product development partner for small/mid-sized technology companies Exclusive focus on small/mid-sized technology companies, typically venture-backed companies in growth phase By definition, all Synerzip work is the IP of its respective clients Deep experience in full SDLC – design, dev, QA/testing, deployment 2. Dedicated team of high caliber software professionals for each client Seamlessly extends client’s local team, offering full transparency Stable teams with very low turn-over NOT just “staff augmentation”, but provide full mgmt support 3. Actually reduces risk of development/delivery Experienced team - uses appropriate level of engineering discipline Practices Agile development – responsive, yet disciplined 4. Reduces cost – dual-shore team, 50% cost advantage 5. Offers long term flexibility – allows (facilitates) taking offshore team captive – aka “BOT” option www. synerzip. com
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