The Strategic Role of Product Management & Product Marketing in Driving Product Revenue & Success

The Strategic Role of Product Management & Product Marketing in

Driving Product Revenue & Success

Tom Evans

CompellingPM

@compellingpm

Copyright 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

• 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.


The Strategic Role of Product Management & Product Marketing in

Driving Product Revenue & Success

Tom Evans

CompellingPM

@compellingpm


The Big Question

• Should Product Management/Marketing Take Responsibility for Product Success or Failure?

– Yes: The Product Manager is CEO of the product and the buck stops there!

– No: We don’t have direct control of those (engineering, sales, marketing, etc.) who ultimately impact the success!


What Makes a Bad PM?


Signs of a Tactical Product Manager

1. Main job is writing requirements

2. Spends lots of time helping engineering

3. Is the demo boy/girl

4. Main job is writing marketing collateral

5. Spends much of day answering questions & fighting fires - engineering/sales/marketing

6. Manages the schedule (development, marketing, etc) (Aka – Project Mgmt)


Bad PM = Product Janitor

• Instead of working on the critical things that will make a big difference for your product and thinking strategically, the product manager [& product marketer] end up doing thankless low-level work that is not appreciated (and many times not necessary.)

Brian Lawley, 280 Group


“Being a good product manager is so hard that most product managers at most companies fail

to be good -- and instead are bad.”--Ben Horowitz and David Weiden


What Makes a Good PM?


Good PM v. Bad PM

Good Bad

Based on knowledge & confidence They think that….

Owns success of productToo many factors outside their

control

CEO of ProductMarketing resource for

engineering

Drives the what & why Defines the how

Grows the business Builds bells & whistles

Tells the story Presents features

Defines their role Others define role


Reference: Ben Horowitz, 1996

How Do We Transform?


Discover Value

Create Value

Communicate Value

Deliver Value

Capture Value

Identifying Levers of Control


Financial MetricsStrategic Metrics

Product Success




Sell More

Higher Price

Lower Cost

Product Success




Sell More

Higher Price

Lower Cost

Product

Price

Place (Channel)

Promotion

Product SuccessKey Levers/Tools

Strategic Levers of Control

16

Product

Price

Place (Channel)

Promotion

Creating Leverage

Copyright 2015. The Lûcrum Group, Inc.



17

Product

Price

Place (Channel)

Promotion

Creating Leverage

Go-to-Market Strategy


Defining Leverage



18

Product

Price

Place (Channel)

Promotion

Creating Leverage


Market Analysis (Context)

Discovering Leverage


Defining Leverage

Executional Levers


Target Markets PositioningCompetitive

StrategiesMessaging Platform

Alignment to Business Drivers

Market Analysis

VOC Competitive Analysis Ecosystem Analysis


Executional Levers

Product

• Define Whole Product

• Effective Requirements

Price

• Value Based Pricing

Place (Channel)

• Sales Tools

• Sales Enablement

• Channel Programs

Promotion

• Product Marketing Tools & Content

• Product Marketing Programs


Leveraging the Levers - 1

• VOC– Better understand customer problems and value

– More compelling messaging & sales tools

– More effective marketing programs

• Competitive Analysis– Know competitions strengths & weaknesses

– Create best competitive position

• Ecosystem Analysis– Understand market dynamics, threats & opportunities


Leveraging the Levers - 2• Target Markets

– Everyone knows who you’re selling too– More effective use of development and marketing investments

• Positioning– Stake your claim in the market– Resonate with your target markets

• Competitive Strategies– How to win against the competition

• Messaging Platform– Ensure consistent & effective messages to the market– Resonate with your target markets

• Alignment to Business Drivers– Create value for the company



• Whole Product– Deliver the complete value customers expect

– Sell more product & maximize value

• Effective Requirements– Engineering builds the product customers need

– Sell more product

– Maximize value created

• Value-Based Pricing– Maximize revenue on your product



• Sales Tools

– Help buyers make a buying decision in your favor

• Sales Enablement

– Improve close ratios, better pricing, increase revenue

• Channel Programs

– Keep sales team motivated

– Squeaky wheel gets the grease



• Product Marketing Tools & Content

– Clearly communicate value proposition

– Driver awareness and leads

– Improve conversion ratios throughout the funnel

• Product Marketing Programs

– Driver awareness and leads

– Improve conversion ratios throughout the funnel


What Are You Going to Be?What Will You Do Different?


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

May 28

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

Great Requirements Form the Foundation for Successful Products July

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

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

Developing a Deep Understanding of Your Target Markets: The Starting

Point for Great Product Management & Marketing

May 28, 2015


Upcoming Training

• AIPMM Certifications– June 8 – 9 (CPM – Austin)

– June 10 – 11 (CPMM – Austin)

• Optimal Product Management & Product Marketing– Sept 21 – 23 (Austin)

– Dec 7 - 9 (Austin)

More dates/locations - www.280group.com


Free 1 Hour PM/PMM Consult

• First five to submit information on form

• http://compellingpm.com/freeonehour/

• Please include background on topic or issue

• Must include company info (no Gmail)


http://compellingpm.com/freeonehour/

Thank You!

Tom Evans

CompellingPM

[email protected]

@compellingpm

www.compellingpm.com


mailto:[email protected]