Pcampsv2013 product managementmetrics-saeedkhan


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Presentation from ProductCamp Silicon Valley March 2013. -- ppt provides a general model for tracking the 4 key areas for product success -- Business, Go-to-Market, Organizational Readiness and Product.

If you want to download -- please tweet me @saeedwkhan

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Pcampsv2013 product managementmetrics-saeedkhan

  1. 1. Product Management MetricsHow to truly manage yourproducts like a CEOMar 23, 2013Saeed Khan @saeedwkhan http://ca.linkedin.com/in/saeedwkhanBLOG: www.OnProductManagement.net Copyright © Saeed Khan 2013
  2. 2. NOTE:Additional information on this topic can befound in the following posts found athttp://www.onproductmanagement.net• A Model and Metrics for Tracking Product Success• Defining Business Oriented Metrics for Tracking Product Success• Go-to-Market and Organizational Metrics for Tracking Product Success• Product Metrics for Tracking Product Success• Why and How to Conduct a Mid-Year Product Review Copyright © Saeed Khan 2012
  3. 3. Is this you? http://www.productfocus.com/blog/archives/129 Copyright © Saeed Khan 2013
  4. 4. Question - Are you a: PRODUCT Manager Or a Product MANAGER Copyright © Saeed Khan 2013
  5. 5. Turning the situation around…Do you want to be more strategic?Do you want to show your CEO thevalue of Product Management inyour company?Do you want to get promoted?** No promises of career success are being made in this presentation.Your mileage may vary. Copyright © Saeed Khan 2013
  6. 6. The goal of Product Management To deliver measurable business results through product solutions that meet both market needs and company objectives. Don Vendetti - http://wp.me/pXBON-WE Copyright © Saeed Khan 2013
  7. 7. Manage your product like your CEO manages the companyYes I know you are not the “CEO of your product” but don’t let that stop you from acting like you are. Copyright © Saeed Khan 2013
  8. 8. What examples arethere for managing Products in a systematic way? Copyright © Saeed Khan 2013
  9. 9. Captain Jack – Product Managerhttp://www.slideshare.net/dmc500hats/startup-metrics-for-pirates-long-version Copyright © Saeed Khan 2013
  10. 10. Soon a True PM you shall be! http://www.slideshare.net/dan_o/how-to-be-a-web-20-metrics-jedi-web-20-expo-april-2009 Copyright © Saeed Khan 2013
  11. 11. Don’t let Chuck Norris stop you! http://www.slideshare.net/maverickaman/metrics-for-start-up-ninjas Copyright © Saeed Khan 2013
  12. 12. Lots of Web funnel related metrics • http://www.slideshare.net/stueccles/lean-startup-metrics • http://www.cindyalvarez.com/data-driven/57-questions-about-metrics • http://bostonturnergroup.com/ideals-2/web-funnel-101-24-metrics-you-need-to-measure- right-now/ Copyright © Saeed Khan 2013
  13. 13. Couldn’t find anything taking a holistic view of the overall state of the product Copyright © Saeed Khan 2013
  14. 14. The key question How to trulymanage the product across the product lifecycle? (and stop being the gap filler) Copyright © Saeed Khan 2013
  15. 15. What is“the Product”? Copyright © Saeed Khan 2013
  16. 16. What is “the product” OR…. What are the majorareas I must track and manage to ensure product success? Copyright © Saeed Khan 2013
  17. 17. 4 Areas of Focus Business Organization Go To Market Product Copyright © Saeed Khan 2013
  18. 18. 4 Areas of Focus Business Organization Corporate Internal Training andObjectives, Revenue, Pipeli Enablementne, Win/Loss, Renewals, Pri (Sales, Support, Marketing cing, etc. etc.) Go To Market ProductPositioning, Messaging, Lea Product Strategy, d Gen, Marketing Capabilities, Roadmap,Plan/Funnel, References, C Quality, Performance, ollateral etc. Stability, Gaps etc. Copyright © Saeed Khan 2013
  19. 19. What is the ProductLifecycle? Copyright © Saeed Khan 2013
  20. 20. Product Lifecycle Stages End of Life Develop Maturity Decline Launch Growth Copyright © Saeed Khan 2013
  21. 21. Product Lifecycle OBJECTIVES Copyright © Saeed Khan 2013
  22. 22. Product Lifecycle ObjectivesObjective Description Build it Build the first version of the product for specific use cases for a target market Nail it Identify and address barriers to wider adoption within your target market and prepare the company for product growth – more than just product/market fit Scale it Scale the business (marketing/sales etc.) and focus on expansion and new customer acquisitionExtend it Move into new markets, market segments, use cases. Growth in new customers and sales into existing base Milk it Reduce investment but continue to market/sell with an eye on maximizing profits from customer base End it Remove all investment, stop actively marketing and eventually remove from market Copyright © Saeed Khan 2013
  23. 23. At each lifecycle stage, Product Management focus and objectives are different! Copyright © Saeed Khan 2013
  24. 24. What stage is your product in? Copyright © Saeed Khan 2013
  25. 25. What stage is your product in? Copyright © Saeed Khan 2013
  26. 26. What stage is your product in? Copyright © Saeed Khan 2013
  27. 27. What stage is your product in? Copyright © Saeed Khan 2013
  28. 28. What stage is your product in? Copyright © Saeed Khan 2013
  29. 29. So what goes in the boxes?Questions that are important to answer for each focusarea for the current stage of the product lifecycle i.e. key business metrics  Copyright © Saeed Khan 2013
  30. 30. What is a “business metric”?The definition I like is:• n. A business metric is any type of measurement used to gauge some quantifiable component of a company’s performance.Somewhat vague (but good for us)!  Copyright © Saeed Khan 2013
  31. 31. Rules for defining key “business metrics”• Define metrics to align with key goals and objectives for your product. – Just because you can measure it doesn’t mean it’s important• Ensure that you can put programs in place to change those metrics if needed.• The actual “metrics” will be a combination of numeric values, and empirical evaluations of important situations (i.e. judgment calls) Copyright © Saeed Khan 2013
  32. 32. Hypothetical example… READ THIS!• The following is an example set of dashboards for an early (Scale it!) stage product to show how to implement the model.• For each of 4 focus areas, I’ve picked important metrics to track. You will need to pick the right metrics for your product and stage. – i.e. these may not all apply to your product. Don’t just copy them without thought.  Copyright © Saeed Khan 2013
  33. 33. Creating a simple dashboard• CEOs like dashboards • Use traffic light model (or similar model) to indicate state of metric - on plan or ahead of plan - at risk of missing plan (must monitor) - behind plan, needs immediate attention Copyright © Saeed Khan 2013
  34. 34. Common Business Metrics• Sales/Revenue What are the key metrics• Pipeline and measurable factors to• Win/Loss track business progress and success?• Deal Size• Renewals How are you tracking against the plan or target?• Pricing What actions are needed• Resellers to improve the situation?• Etc. Copyright © Saeed Khan 2013
  35. 35. Hypothetical Business Dashboard Copyright © Saeed Khan 2013
  36. 36. Common Go-To-Market Metrics• Positioning• Competition• References These “metrics” are not as• Social Media numeric as the Business are, but are key to• Analyst Relations tracking GTM status and progress• Demand Gen• Web Presence• Collateral Copyright © Saeed Khan 2013
  37. 37. Go-to-Market Metrics Copyright © Saeed Khan 2013
  38. 38. Organizational Readiness• Each group that is key to go-to-market or the ongoing Ensure there is a clear way success of the to assess if teams are product should be ready. Processes in place, assessed to see if training complete, systems they have been ready etc. trained and are functioning optimally. Copyright © Saeed Khan 2013
  39. 39. Organizational Readiness Copyright © Saeed Khan 2013
  40. 40. Product Metrics• Strategy• Roadmap status Where you probably spend a lot of your time• Product/Market currently, filling gaps, Fit fighting fires etc.• Product Gaps Raise the bar and systemetize your efforts• Product Quality and management of the product• Etc. Copyright © Saeed Khan 2013
  41. 41. Product Metrics Copyright © Saeed Khan 2013
  42. 42. Each metric should have additional underlying data or information. Should be available ifneeded by Management. Copyright © Saeed Khan 2013
  43. 43. Update dashboards as often as needed for business review. Quarterly or semi-annually is good for most companies. Copyright © Saeed Khan 2013
  44. 44. Why go through all this effort andpresent the product this way? Copyright © Saeed Khan 2013
  45. 45. Why do this?• It is a simple, standard way to manage almost ANY product• Easy to communicate status and trouble spots to Senior Management• Raise your own understanding of your product and manage it like a CEO• And finally…. Copyright © Saeed Khan 2013
  46. 46. …Because this is NOT what you want!! http://www.productfocus.com/blog/archives/129 Copyright © Saeed Khan 2013
  47. 47. Product Management MetricsHow to truly manage yourproducts like a CEOMar 23, 2013Saeed Khan @saeedwkhan http://ca.linkedin.com/in/saeedwkhanBLOG: www.OnProductManagement.net Copyright © Saeed Khan 2013