How Business Requirements Can Make Your Product a Success

Pitfalls of Product Marketing

Keep calm and be social!

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Let’s break the ice!- Dilbert says it best -

Needless to say – this won’t work!

What really happens when teams start working on a new product

The story• - Business has a new idea of a product/service that meets customer

demands.• - The product manager is in charged with carrying out the

development and everything's that necessary for it to start generating revenue.

• - Everybody - dev, frontend, design, sales & marketing gets together to discuss how this should proceed, timelines, available resources, monetization and pricing

• - Business is eager to launch soon, resources are always tight - we create an MVP and 'if we need anything we'll add later as we go'

• - 6 months later the product is finished, has gone through QA - it's sent to Marketing

• - Campaigns start but 3-6 months later it comes out that the product loses money

WHAT HAPPENS NEXT?

Marketing comes back with a list of reasons of why it fails

Points are validated.

Teams go back to the drawing board -> product needs changes -> deadline depends on resources and recent priorities

Here 2 things happen:

• A. Changes are too difficult - need to carry on as is - EPIC FAIL!

• B. Changes can be done - it will take 6 months.

By which time, everybody goes…

HAS THIS EVER HAPPENED TO YOU?

So why did the product fail?

Marketing stumbled into the following problems:

1. NO IN-PRODUCT ANALYTICS Product has 10 features: we don't know which ones are the most relevant and popular

Why it’s important?- Helps determine/change key USPs- the messaging that we push in our creative materials so it hits home to a

user. - And also it helps improve the product – helps prioritize feature work and

development (sometimes less is more)

What if we do it later?- Messaging used is up to inspiration not information

Task: push price and/or key features to first time visitors. Optimize so user installs grow for less traffic

Make it work!

Google Text Ads - Title of 25 Characters and Body of 70 characters

Banner Ads – largest standard sizes: 728 x 90, 160 x 600

Landing pages – in most countries and most cultures users don’t scroll

Think about it!

Analytics Solutions

2. No Onboarding Process Considerations

80% of your free trial users are fading away never to become a paying customer.

…and I’m not just talking email

Push Notifications

• 88% higher engagement • nearly 3 X Retention• an average of six in ten users will return to an application within a month

if they are being engaged with push messaging.

Can be perfectly tailored for each stage of the Customer Life Cycle

3. No lifecycle analytics data

Meet Bad Luck Brian from Online Marketing

Runs Acquisition Campaigns from 20 sources

No idea which works best

PAID SEARCH

SEO EMAIL AFFILIATE FACEBOOK TWITTER PRACQUISITION CHANNEL

COUNTRIES

PAID LICENSES

? ? ? ? ? ? ?

FREEMIUM/ FREE TRIAL – PAID FLOW

NOW LET’S OPTIMIZE!

• WHERE DO WE PROFIT?• WHERE DO WE LOSE?

Metrics needed

• Trial to Paid Conversion Ratio- per source- for each source – per country

• Upgrade Value (€)- per source- for each source – per country

• Renewal Rate- per source- for each source – per country

• Renewal AOV (€)- per source- for each source – per country

• User Lifetime- per source- for each source – per country

4. No Cookies

Most research ballparks cookie deletion at 30% of visitors over a month.

For Acquisition purposes – it’s recommended you work with a build that has a hardcoded parameter,

in case of cookie detection fail.

40% of users delete or block according to OpenTracker.net

Service Planningwhere the “rubber meets the road”

• Working hand-in-hand with Product Management, to put together what features, functions and capabilities are included.

• Working with sales, to determine the best positioning and what value will resonate with clients.

• Other key areas of involvement come from engineering, delivery and operations.

Change the paradigm

Working together produces much better results!

Glossary

• http://www.totango.com/wp-content/uploads/2012/11/2012-SaaS-Conversions-Benchmark2.pdf

• http://www.phunware.com/blog/push-ahead-push-notifications-edging-past-email-mobile-marketing/

• http://www.slideshare.net/dmc500hats/startup-metrics-for-pirates-long-version/6_Customer_Lifecycle_Conversion_Behavior_Websitecom

• http://amckinnis.com/5-key-activities-every-product-marketing-professional-must-master/

• http://www.kaushik.net/avinash/web-analytics-visitor-tracking-cookies/

• https://www.smashingmagazine.com/2016/01/nobody-wants-use-your-product/