Post on 22-Jul-2020
transcript
DavidPinches|TarigoProductManagement|October
PRODUCTMANAGEMENTINSIGHT|
ProductManagement&ProductMarke1ngASymbio1cRela1onship
MaximiseproductsuccessthroughaseamlesscombinaEonofproductmanagementandproductmarkeEng
ProductManagementInsight
PAPERONE
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IntroducEon&ExecuEveSummary
ProductManagement&ProductMarkeEngareoLencombinedintoasingleroleor,inlargerorganisaEons,canbeseparate.Ineitherstructure,abalancedandjoinedupapproachisfrequentlymissingandamajoropportunitytomaximisethesuccessofaproductismissed.
ThispaperexplainshowmanagingthetwofuncEonsasacollaboraEveprocess,operaEngwithinacommonvisionwillconsiderablyenhanceproductsuccess.
ACompleteCycleThetwofuncEonscaneasilybebrokendownintoseparateresponsibiliEesandobjecEves.ThisisperfectlyacceptablebutduetotheirinterdependenceandcommonhighlevelobjecEves,theyshouldalsooperateasaseamlesspartnershipsharingknowledge,methodologiesandartefacts.
TherealityisthatthelifeofanyproductisaniteraEvecyclenotalinearprocesswithanassociatedriskthatproductmanagershandovertoproductmarkeEngandleavethemtoit.Theclueisintheterm“ProductLifeCycle”andthisisbestmanagedthroughcollaboraEonacrossthedisciplines.
ProductPosiEoningandValueProposiEon–AttheHeartofthePartnershipThePosiEoningStatementandValueProposiEonisaprimeexampleofsharedandcommonuse.
ItisimperaEvethatitisformedatthestartofaproductslife.ThisisoLenintheformofaDataSheet,whichguidesandinformsallstakeholdersastothecommonobjecEvesastheproductisbroughttomarket.
ThisisthenworkedupintoamorecompleteProductPosiEoningStatementandValueProposiEonwheretypicallycustomerbenefits,returnoninvestmentandcompeEEveadvantageareenhanced.
ThePosiEoningStatementwillthenformthefoundaEonofthemessagingthatneedstobetailoredtomulEpletargetmarketsegmentsandpersonas.TheresultisasinglecommunicaEonframeworkforartefactssuchassalesaids,detailedmarkeEngbriefsandinformaEonfortheserviceorganisaEon.
MoredetailedinformaEononthese3stagesandsupporEngtemplatesarepresentedinthemainbodyofthispaper.
CollaboraEon&KnowledgeSharing–APosiEveImpactNumerousexamplesexistwherecollaboraEonandknowledgesharingbenefittheproduct.
MarketfeedbackisthelifebloodofsuccessandproductmanagementandproductmarkeEnggaindifferentperspecEvesfromtheirprocessesandnetworksthatareinvaluablewhencombined.
Feedbackfrombetaorearlyadopterprogramsruninproductmanagementcanproveinvaluabletovalidatetheimportantbenefitstoincludeinmessaging.AddiEonally,theycanprovideindependentevidenceandquotesaroundtheproduct.
ManymoreexamplesexistandareconEnuingevidenceofthebenefitsenjoyedbybalancingtheproductmanagementandproductmarkeEngdisciplines.
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ProductManagementandProductMarkeEng–Acompletecycleforproductsuccess.Formanyproductmanagers,theroleofproductmarkeEngmaybeundertakenbyanothergrouporindividualintheorganisaEon.ItmaybeconsideredpartoftheirownrolebutisoLenundertakenwithlowerlevelsofknowledge&experience.InsomecasesproductmarkeEngmaynotbepracEcedatall,andaneworimprovedproduct“thrownoverthewall”totherestoftheorganisaEonandthemarket!
Inover20yearsofleadingproductmanagementandmarkeEngteams,itiscleartomethatthecombinaEonofstrategiesandprocessesfrombothdisciplinesmaximisesthesuccessofaneworupdatedproduct.InmanywaysitislessabouttheneedforanorganisaEontohavebothroles(althoughthisisundoubtedlyimportantasaproductscales)butmoreabouttheneedforanorganisaEontoadopt&integratebothdisciplines,perhapswithinoneroleorusingacollaboraEveteamapproach.
ThedefiniEonofproductmanagersandproductmarkeEngmanagersisoLentakenandalteredbyorganisaEonstosuittheirownpurpose,butinmyexperiencethemostsuccessfuldefiniEonsmusthavethefollowingconsEtuentparts.
ProductManagement&ProductMarkeEngDisciplines
SousingsuchdefiniEons,wecouldsimplystatethatProductManagementhastodefineandoverseethebuildoftheproducttomeetwhatthemarketand/orkeystakeholdersneedsandProductMarkeEnghastotakeittomarket.
TherealityismorecomplexthansuchsimpledefiniEonsandincludespotenEaloverlaportheriskofomi`ngvitalworkstreams.WhenviewedoverEme,itisbesttoconsiderasingleconEnuouscyclicalprocesswithbothdisciplinesincorporated,overlappingandcollaboraEngforanopEmumoutcome.
ProductManagement
• Marketanalysis&needs
• CompeEEveanalysis
• Productstrategyincludingbusinesscase&commercialstrategy
• Roadmapmanagement
• HighlevelanddetailedproductdefiniEon
• Monitoring/steeringdevelopment
• PreparaEon&releasetomarket
• Ongoinganalysisofmarketandstakeholderfeedback
• ProductposiEoning&valueproposiEons
• Pricing
• Launchplanning&execuEon(Internal&External)
• Ongoingstrategiesfordrivingdemand/useracceptance
• Driving&supporEngimprovementsinproductmarketKPI's
• Marketacceptance:monitoringandassessment
ProductMarkeEng
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ProductCycle
InthisProductCyclewhatisreallyimportanttonoteis
1: Thatcrudely,manyorganisaEonswouldconsiderproductmanagement’sdomaintobeattherighthandsideofthecycleandproductmarkeEngtomanagetheleLhandside.ThisapproachistoosimplisEcandcanimpairthechancesofproductsuccess.
2: Thecycledescribeswhathastobeachievednotwhoshoulddoit.Itmaybeoneroleortwoormany.Therealityis,ofcourse,thatitinvolvesmanypartsofanorganisaEonfromdevelopmenttooperaEonsandontomarkeEng,salesandmanyotherinternalandexternalstakeholders.
3:ExperiencesuggeststhatasignificantoverlapacrossfuncEonsislikelyandthatconsideringthecycleasawholeandworkingcollaboraEvelymakesarealdifference.NotethatforsoLwareproductsdeliveringthroughanAgilemethodology,thecyclewillsEllapply.ThiscouldoperateasminicyclesbringingimprovementstomarketbutalsowithinanoverallstrategiccycletakingtheenEreproductbusinessandbroadmarketinfluencesintoconsideraEon.
4: Theoverallsuccessofaproductwillbenefitfromsharedknowledge,methodologiesandskillstakenfrombothdisciplinesandwherecertainartefactscanbesharedandusedthroughouttheenErecycle.(SeePosiEoningandValueProposiEonbelow).
Market&StakeholderAnalysis
ProductRequirements
ProductBuildAGILE
LaunchPreperation
LaunchandGrow
AnalysePerformance
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ProductPosiEoningandValueProposiEon–AttheHeartofthePartnershipToillustratethebenefitsfromacollaboraEveblendingofthetwofuncEonslet’sconsiderthefollowingimportantexample.
Whetheritisaneworimproved/upgradedproduct,manyconsiderthevitalprocessofse`ngthemessagingaroundtheproductusingthePosiEoningandValueProposiEontobetherealmofproductmarkeEng.Yes,itisatthecoreoftheallmessagingtoallstakeholders,butitisalsoaninvaluabletoolfortheproductmanageratstartofanyproductcycleandreferredtothroughoutthebuildphase.
LetuslookathowtheprocessandarEfactscanbeusedandsharedthroughouttheproductcycle.
TheDataSheetOriginatedattheverystartoftheproductcycle,aDataSheetisaconcisebutvitaldescripEonofwhatyourproductis,whoitisfor,theirneeds,thebenefitstheywillgain,themainfeatures,andwherenecessary,supporEngevidence.ItisafundamentaldocumentthatistheculminaEonofallworkundertakentodefinetheproductandisusedasthecentralreferencepointthroughoutabuildphase.
* Itisusedasasingleversionofthetruththatcanbereferredtothroughouttheproductlifecycle.Itwillensurethatallworkstreamshaveanagreedfocusandoutcome.
* Isshouldprimarilyreflectthecurrentanalysisofthemarket,customerandotherstakeholders.
* ItshouldbeabletoflextoaccommodatechangesfromanAgiledevelopmentmethodology.
• ItsetshighlevelguidelinesorboundariesretheoverallscopeoftheproductwhichifbreachedneedtobequeriedtoascertainifyourproductissEll“marketled”&valid.
• IsafundamentaldatasourceforthePosiEoningandValueProposiEonsthatwillbecentralwhentakingtheproducttomarket.
1©
Initial positioning statement | For target markets and personas, product is the only product in the category that offers “an overall differentiator”. This means “main benefit”
Solution components | Picture or bulleted list of elements included in the solution
Challenges | 2-3 paragraphs detailing challenges / pain points clients are facing related to this solution
Key features | 5-7 bullets that link to the benefits
Key benefits | 3 statements detailing key benefits that address the challenges stated above
URL | To the web site that describes the solution
Side bar 1 | This can be a client quotation, call-out of relevance to a specific regulation etc
Side bar 2 | Further Evidence / Proof that we can deliver this product
Data sheet
Solution name
Return | Is there a quantifiable return (savings, revenue, other KPI)?
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TheDataSheet-InUseIfweconsiderthelinearproductEmelinebelow,theDataSheetshouldbewellresearchedanddefinedwithintheiniEalassessmentphaseofanyproductlifecycle.
Itcanthenbeusedthroughoutthebuildphase,bothasacommonreferencedocumentforallinvolvedandasahighleveldefiniEonallowingadegreeofflexibility,forexamplewhenadopEnganagileapproachiftheproductisasoLwareplaoormbutsEllmonitoringtheproductbuildagainsthighlevelstrategicrequirementsandgoals.
FinallytheDataSheetshouldbeafundamentalbasisfortheworkrequiredonlaunchphaseastheProductPosiEoning,ValueProposiEonandothermessagingisputtogetherandexecuted.
ProductTimeline
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PosiEoningandValueProposiEonAsweapproachaproductlaunchtheProductMarkeEngfuncEonwillneedtofocusontheproductposiEoningandmessaging.Theoutputfromsuchaprocesscanbesynthesizedinthefollowingtable.
SentenceOpening Valueoftheoffering…AddingtotheSentenceOpening
For….. TargetClient
Who….. Statementoftheneedoropportunity
Product/ServiceNameisa…… Whatitis.Whatcategoryofproduct/service.
That….. PosiEoningtheBenefits
SecondSentence PosiEoningtheValues
Unlike….. ClientscurrentsituaEonand/orissueswithcompeEEon
OurProduct/Service….. PrimaryCompeEEveAdvantage
Becauseofour….. Evidence/Proofthatwecandeliverthesebenefits
TheoverlapwiththeDataSheetcontentisobvious.ItisalogicalprogressionfromthedefiniEonsthatinformedtheplanningandbuildoftheproduct.Inmyexperience,thisconEnuaEonofsignificant,highlevelstatementsaidsthebuild-upofacommonandconsistentunderstandingaroundtheproductasitcomestomarket.
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MessagingFurtherevidenceofthebenefitsgainedfromcombiningproductmanagementandproductmarkeEngmethodologiescomeswhenfinetuningthePosiEoningandValueProposiEonintomessagingtothemulEplestakeholdergroupsfortheproduct.
SuchstakeholderscaniniEallybedefinedintohighlevelcategories,forexample
AndthenthecorePosiEoningandValueProposiEoncanbeoverlaidwithspecificsubposiEoningforthatmarket,orpersona.AVenndiagramcanbebuiltemphasisinghowthecoreposiEoningholdstrueatthecentrebutisrefinedoraddedtowithspecificbenefitsforeachsubgroup.
CorePositioningof
solution,description,
benefits,uniques
SupportWantto
reduceinstallenquires
CIOWantstomakejobeasier.
ChannelRquiresbetteronfigurationoptions
MobileUserPersonaOffLineAccess
SalesWanttobeatcompetition
ExistingUser
Persona1Improvedreportingrequired
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CollaboraEon&KnowledgeSharing–APosiEveImpactNumerousexamplesexistwherecollaboraEonandknowledgesharingacrossproductmanagementandproductmarkeEngbenefittheproduct.
MarketFeedbackMarketfeedbackisthelifebloodofsuccessandproductmanagement&productmarkeEnggetdifferentperspecEvesfromtheirprocessesthatareinvaluablewhencombined.ProductmanagementoLengetsaveryhighdegreeofinputfromexisEngcustomerswhereasproductmarkeEngmaygetmoreexposuretocompeEtorstrengthsandweaknessesaswellastothenewprospectmarketdemands.
RefiningProductPosiEoningSe`ng,refining&validaEngtheproductposiEoningandmessagingiscentraltothesuccessofproductmarkeEng.MuchofthiscanbeiniEatedintheearlyphasesoftheproductlifecyclebyproductmanagementasthecoreposiEoningisdiscussedwithinternalstakeholdersaswellasexternalmarketandcustomerstakeholders.
FeedbackfrombetaorearlyadopterprogramsruninproductmanagementcanproveinvaluabletoproductmarkeEngastheydefinetheirmessages.ItcanhighlightwhatfuncEonsandfeaturesareprioriEzedbytheearlyadoptersandwhatbenefitsarederivedfromtheiruse.
ProductLaunchCasestudies,quotesandreferencesfromthemarketareessenEalevidencetosupportthelaunchofaneworimprovedproduct.MuchofthiswillcomefromtheproductmanagementfocusinthebuildandlaunchpreparaEonphases,parEcularlyasanewproductisexposedtobetausersorperhapsadistribuEonchannelatpre-launchevents.
Manymoreexamplessimilartothoselistedaboveexistandarecon1nuingevidenceofthebenefitsenjoyedbybalancingthetwodisciplines.
InConclusionToday’sglobalmarketsarehighlycompe11ve,fastpacedandservedbyproductsdeliveredthroughfasteritera1veprocesses.“Marketled”solu1onswilldominate.Closercollabora1onacrossproductmanagementandproductmarke1ngwillresultinaproductlinethatreflectsmoreinputfromthemarket,islesslikelytobedivertedbyinternalpressuresandhasthebestchancethroughclarityofmessagewhenitisbroughttomarket.
DavidPinches• Davidhasover20years’experienceinseniorandboardlevelproductmanagementroles.Inaddition,David
runsregularexecutiveworkshopsonProductManagementLeadership.• https://uk.linkedin.com/in/davidpinches
Tarigo• Establishedin2003,Tarigohasbuiltanenviablereputationfordeliveringhigh-qualitytrainingand
consultancysolutionstoproductmanagersthroughoutEuropeandtheUSA.• Thousandsofproductmanagers,productmarketingmanagersandproductdirectorshavebenefitedfromour
servicesinsectorsincludingsoftware,technology,healthcare,financialservicesandtelecommunications.• ClientsincludeSageGroupplc,Capita,Amdocs,DeutscheBank,HouseofFraser&Mastercard• Visithttp://www.productmanagementtraining.com/orcalluson+44(0)1616607718