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Marketing is Dead (long live product marketing)
The document discusses the decline of traditional marketing and emphasizes the importance of product marketing due to changing customer dynamics and information accessibility. It highlights the need for a new marketing framework focused on targeted messaging that resonates with specific market segments, and offers insights into effective communication strategies. Key elements include understanding customer needs, using engaging storytelling, and emphasizing value over features.
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Marketing is Dead (long live product marketing)
- 1. Marketing is Dead* *longlive Product Marketing April Dunford rocketwatcher.com
- 2. My Background • BigCompanies • IBM (Launch and growth of InfoSphere) • Siebel (Global Marketing Financial Services) • Nortel (head of incubation) • Startups • Infobright • DataMirror (exit to IBM) • Janna Systems ($1.4B exit to Siebel Systems) • In-Between (as of a few weeks ago) • Solarsoft ($100M revenue) 2
- 3. Marketing Sucks • Untargetedand generic • Interrupt-driven • Way too pushy (most marketing doesn’t care if I’m ready to buy yet) Marketers are yelling, and not even yelling at me in particular…
- 4. Plus There’s theLying….
- 5. Nobody Believes MarketingAnymore ….and can you blame them?
- 6. The World hasChanged Vendors are no longer THE source of Information • Customers can broadcast to the world • Prospects can easily talk to each other • Product info is readily available Prospects are far along the buying path before vendors know about them
- 7. What Changes? Buying vs.Selling Earned vs. Bought Media Customer Service Visibility vs. “Branding”
- 8. Who Will Getus Out of This Mess? You. Yeah, Ms./Mr. Product Marketer, I’m looking at you.
- 9. Why Product Marketing? •We get segmentation • We understand the market needs of our segments • We have deep product knowledge • We know how those fit together
- 10. A New MarketingFramework
- 11. Key Elements inthis New Environment Content Visibility Messaging Engagement
- 12. Messaging Needs to answer3 questions for prospects: • What is it? • Is it for me? • Why should I buy it from you? Stories, stories, stories.
- 13. Paris Hilton Marketing 13 beautifulbut makes no sense
- 14. What You Do? 14 Netflix– Watch as many movies as you want for one low monthly price. SalesForce.com – the world’s favorite CRM software as a service. Wikipedia – A free encyclopedia built collaboratively using Wiki software.
- 15. You do WHAT? 15 SunMicrosystems – Innovative products and services that power the network economy. Sterling Commerce – helps companies optimize and transform their dynamic business network to accelerate revenues and reduce costs. Any internet b2C startup – Personalizes the Internet!!
- 16. Step 1: Whatthe Heck is it? Keep it brief Use simple language Just come out and say it! 16
- 17. Segmentation is nota Dirty Word 17 Market to Everyone, Sell to No One
- 18. Explicit Targeting isPowerful 18 ThinkGeek: Selling geek t- shirts for programmers, linux hackers, and open source geeks. VS Customink: your t-shirt expert for companies and individuals.
- 19. Go Deep –The Janna Example 19 CRM for Investment bankers: • Use cases, day in the life of a banker • Demos, example data • Whitepapers, articles, opt-ed • Sales Enablement: the IB dictionary
- 20. Step 2: Isit for Me? Be explicit about who you target Use their language Go as deep as you can 20
- 21. Why Buy FromYou? The terrible secret they don’t teach you in engineering school: 21
- 22. Why Buy FromYou? The terrible secret they don’t teach you in engineering school: Customers Don’t Care about FEATURES 22
- 23. Why Buy FromYou? Value Features Make sales more productive Integrates customer data from any source, show relationships between customers. Deploy new applications 20% faster Extract and transform data from heterogeneous sources Resolve IT issues faster Monitor cpu and memory usage in real time. Pay off your debt sooner View all account information in one place, graph spending patterns. Sharper, more realistic images Megapixels 23
- 24. (do that andyou won’t need to lie)
- 25. Step 3: WhyBuy it from You? Value not Features Focus on Differentiators 25
- 26. Bring it tolife with Stories Go ahead April, tell them a story…..
- 27. Content for Customers(not sales) Content needs to be helpful Requires a strategy Map to steps in buying process Provides the benefit of your expertise in the market (not necessarily about product)
- 28. Engagement Community – an increasinglyimportant communications channel • Bring customers & prospects together • Help/incent customers to carry your message • How can Marketing help Customer Service
- 29. Visibility How non-users observe thatothers are users: • Product features • Shareable content • Reviews/awards • Independent analysis • Success marketing
- 30.