Great Requirements Form the Foundation for Successful Products

Great Requirements Form the Foundation for Successful Products

Tom Evans

CompellingPM

@compellingpm

Copyright 2013 - 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

• 2013 - 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


Special offer from CompellingPM at the end of the webinar.


Great Requirements Form the Foundation for Successful Products

Tom Evans

CompellingPM

@compellingpm


Poll Question 1

What’s most important in making a great product?

a) Amazing, cool features & design

b) Awesome branding & advertising

c) Unexpected surprises

d) Avoids bad customer experiences

e) Makes out life better

f) Evokes emotions


Not Great Marketing

• David Ogilvy said: “Great marketing only makes a bad product fail faster.”


How We Think About Products

Product Hell

Get’s Job Done

Way Better

Awesome


How Do We Get to Awesome?


Make lives “way” better

“for all stakeholders”, in unexpected

ways





ways

Compelling, singular value proposition

Empathy for the user & buyer

Craft the full customer experience





ways




PM2 Levers of Control™


Executional LeversProduct

•Define Whole Product

•Effective Requirements

Price

•Value-Based Pricing

Place (Channel)

•Sales Tools

•Sales Enablement

•Channel Programs

Promotions

•Product Marketing Tools & Content

•Product Marketing Programs

Go-to-Market Strategy

Target Markets PositioningCompetitive

StrategiesMessaging Platform

Alignment to Business Drivers

Market Analysis

VOC Competitive Analysis Ecosystem Analysis

DEEP UNDERSTANDING OF OUR CUSTOMERS


Deere

“The mantra at Deere in recent times for all new product development programs has been

'DCU/DCV'

Deep Customer Understanding

Deliver Customer Value”


Nikhil Bhagath, On Quora

P&G

“At the core of our strategy was the belief that the customer was the boss, and I pretty much turned the organization chart upside down and put myself at the bottom and put the customer at the top.”

AG Lafley, CEO, Procter & Gamble


Drucker

The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.

Peter Drucker

Deep Understanding of Customers

• Who they are

– Personas

• Why they buy

– Problems they want to solve

• How they buy

– What is their buying process

– Where do they look


June 11 Webinar

http://compellingpm.com/developing-a-deep-understanding-of-your-target-markets-

the-starting-point-for-great-product-management-marketing/

http://compellingpm.com/developing-a-deep-understanding-of-your-target-markets-the-starting-point-for-great-product-management-marketing/

Don’t Ask What They Want!

“If I had asked people what they wanted,

they would have said faster horses.”

Copyright 2011 - 2013 - LÛCRUM

MARKETING

What Do They Want To Do?

“People don't want to buy a

quarter-inch drill. They

want a quarter-inch hole!”

–Theodore Levitt

Copyright 2011 - 2013 - LÛCRUM

MARKETING

Customer Journey Maps

• “All Activities” when engaging with your product

• What are their motivations?

• What questions might they have?

• What barriers might reduce the customer experience?


Discover Personal Needs

Copyright 2011 - LÛCRUM

MARKETING

All Stakeholders

• Strategic/Financial (Executives)

• Operational (Managers)

• Task Performers (Front-line)

• All levels: Corporate, Business Units, Regional, Etc

• Internal/External

Copyright 2013 - 2015. The Lûcrum Group, Inc.

COMMUNICATING REQUIREMENTS


Requirements

Requirements are about creating understanding


RequirementsProduct

Development & Delivery

Customer Context

Whole Product

• Delivers expected customer value +

• Makes product easier to buy and to use

• Based upon customer journey map


Requirements Communicate Context

• Personas

– Key stakeholders

• Problem Scenarios

– Context of the problems they have

• Market Needs

– Tasks & activities they need to accomplish

– Barriers they need to avoid or overcome

Copyright 2013 - 2015. The Lûcrum Group, Inc. 25Copyright 2013 - 2015. The Lûcrum Group, Inc.

Copyright 2013 - 2015. The Lûcrum Group, Inc.

PRODUCT STRATEGY


No Product Strategy =

http://www.wengerna.com/giant-knife-16999

Create a Profitable Product Strategy!

Go-to-Market Drives Product Strategy


Strategies for Your 4Ps

Product Strategy Pricing Strategy Channel Strategy Promotional Strategy





BAD PRODUCT EXAMPLES


Really?

"Customers fly on regional aircraft all the time when they can't stand up in the lavatory. They handle that just fine.“

Daniel Shurz, Frontier's chief commercial officer

The new cabin layout will allow the low-cost airline to add 12 additional seats to each Airbus A320s and A319s by the end of this year. This will allow Frontier to seat 180 passengers on an A320 compared to United plane that will have 150 seats.


Lacking Some Empathy


Zodiac Seats France

We don't believe there are good market opportunities for this idea," says Mark

Hiller, CEO of Recaro Aircraft Seating, one of the world's major suppliers of

commercial airplane passenger seats.

"From our point of view, passengers will not accept to travel that way. Even if such

a seat would pass certification tests, we would see it as a great sacrifice for

passengers in terms of comfort and living space, even for very short flights."

Who’s the Boss?


http://www.treehugger.com/aviation/standing-seats-on-airplanes-are-a-no-fly-zone.html

What Customers Want to Do?


What’s the Problem Scenario


Netflix designed profiles to be simple,

eschewing ideas like a password

protection. It also said the idea wasn't

related to uncovering accounting

sharing, when people cooperatively

pool an account even if they don't live

in the same household.

"Our intent is to make the family

experience great,

How many have young kids and don’t

want them to enter your profiles?

GOOD PRODUCT EXAMPLES


United Airlines Flight to Chicago

Typical Airline Flight

• Flight attendants pass through once with drinks

• Spend much of flight in galley chatting

• Pick up trash by going from back to front

This Chicago Flight

• Flight attendants pass through multiple times with drinks

• Pass from front to back to pick up trash

• Were friendly and engaging


Which Really Understands Customers


What Problem Does This Solve?


How is This For Empathy


https://www.flickr.com/photos/jgm/678028550/





ways




PM2 Levers of Control™


Executional LeversProduct

•Define Whole Product

•Effective Requirements

Price

•Value-Based Pricing

Place (Channel)

•Sales Tools

•Sales Enablement

•Channel Programs

Promotions

•Product Marketing Tools & Content

•Product Marketing Programs





Market Analysis

VOC Competitive Analysis Ecosystem Analysis

Introduction

Copyright © The Lûcrum Group, Inc. 43

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

June 11

Define a Powerful Go-to-Market Strategy That Sets Your Product Apart June 25

Great Requirements Form the Foundation for Successful Products July 16

Profitable Products Sell Value: Why Value-Based Pricing Wins August 13

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


Next Webinar

• Profitable Products Sell Value: Why Value-Based Pricing Wins

August 13, 2015


http://compellingpm.com/go-to-market-webinar-series-with-dfw-product-group/

Upcoming Austin PM2 Training

• Optimal Product Management & Product Marketing

– Sep 21 – 23

– Dec 7- 9

• AIPMM Certifications – Certified Product Manager (CPM)

– Feb 16 – 17

More dates/locations - www.280group.com


Free 1 Hour PM/PMM Consult

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• http://compellingpm.com/freeonehour/

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Thank You!

Tom Evans

CompellingPM

[email protected]

@compellingpm

www.compellingpm.com


mailto:[email protected]