1. Optimal Product Management and Product MarketingTM Forty Two Ways to Up Your Game in Product Marketing Brian Lawley and Phil Burton, 280 Group Gary Parker, FalconStor© 2011 280 Group LLC.
2. The Book 42 Rules of Product Marketing - Rules to achieve Product Marketing success, by experts from all over the world - Published March 23, 2012 by 280 Group Press Today’s panel - Selected Rules on different aspects of Product Marketing© 2011 280 Group LLC.
3. THINK BIG!, start small, move fast… To think big is to dream big. Imagine you are at the end of the process and define what success looks like Being busy all the time makes it hard to what actions most effective to achieve specific objectives. Define success, then identify few small things that can be started now, linked to the big idea.© 2011 280 Group LLC.
4. Learn from Your Customers’ Digital BodyLanguage Buyers are now different - They don’t learn from sales, they learn from your site What they do on your site is their digital body language - Learn to read it and respond their level of involvement - Stay at their pace Feed it back to your sales team - But, only when the prospect is ready!© 2011 280 Group LLC.
5. Help Your Prospect Know WIIFM Use What’s In It For Me to work the marketing funnel - Have a conversation with your prospects - Less is more Don’t send too much Not too many questions - Electronically tailored© 2011 280 Group LLC.
6. Follow the New Rules of PR Traditional media - 90% of time on 8-12 editors/reporters Now 50/50 media and press - Fewer press around, more bloggers Start by monitoring - Look for hot buttons - Set rules and guidelines for your team© 2011 280 Group LLC.
7. Work Effectively with Analysts Analysts are a vital part of your marketing Prepare well - Read their recent writings - Make your presentation brief and to the point - Be honest always - Be knowledgeable - Listen to their advice - Ask questions and learn about the market© 2011 280 Group LLC.
8. Remember Your Internal Customers Sales teams - Learn which marketing assets work Support - Real world insights Finance - Pricing, margins Other - Marcom, PM, Web, Execs© 2011 280 Group LLC.
9. Prepare for Final Three Feet In retail, final selling is left to associate - Often expected to be wide ranging expert Make your selling channel your target - Think from end users and channel perspective Involve your channel in strategy - Bring them in early© 2011 280 Group LLC.
10. Use Online Metrics for PMM Success Acquisition - Cost per acquisition Conversion - Conversion rate Retention - Retention rate Lifetime value© 2011 280 Group LLC.
11. Emulate Twitter Follow Twitters Pattern - Concise - Open - Cross-platform - Scalable Set Strategy - Listen, Create, Broadcast - Analyze, Engage, Dialogute© 2011 280 Group LLC.
12. Have Courage at Launch Oftentimes the courage they had to build the product turns into denial about what it really takes to build a viable business Companies spend millions and many months developing product, but don’t plain realistically for launch and marketing costs - E.g. $3M for development, only $50K for launch Start marketing and go-to-market planning even before product build commitment Without “Marketing Courage” don’t build product© 2011 280 Group LLC.
13. Make Your CFO a Social Media Fan Social media definitely pays off, but youve got to focus on the approach, not the tools How to justify the ROI? - Recent Chief Marketing Officer (CMO) survey - only 20 percent felt social media produced measurable ROI and 62 percent hoped it may someday Not just another media channel Holistic approach for improved customer support and customer collaboration Result of survey (B2B customers) - Users – Generated 32 percent more ideas - Employees – Spent 42 percent more time communicating with customers, better retention rate - Support calls dropped 28 percent (Lower costs!) - Sales to new customers jumped 27 percent (More revenue!)© 2011 280 Group LLC.
14. Apply SEO Fundamentals Everywhere You are writing for two audiences: the search engines that index the content and the people who read it Key approaches –blogs, webpages, videos, slides, etc. - Identify target keywords and phrases - Use target keywords repeatedly in domain name, account names, file names, H1 – H3 elements, ALT text, first sentences of paragraphs - Good meta description – 160 characters – used as “snippet” by search engine–increases clickthrough rates - Avoid same cointent at separate URLs on website - Syndicated copies link pack to original - Trademarks at end of title© 2011 280 Group LLC.
15. Help Customers Cost-Justify Your Product ROI calculator should show current costs and how your product/ service will directly save the customer money B2B customers have approval process that requires justification for purchasing product ROI calculator is key sales enablement tool - Show current costs and potential savings - Show increased revenues - You supply the spreadsheet to calculate ROI - Customer supplies numbers Keep it simple to encourage usage© 2011 280 Group LLC.
16. You Are Not Your Customer If you cant convey your product and its benefits to customers in two sentences or less, something is wrong “Customer” can be buyer or influencer Must know demographics, buying cycles, price sensitivity, past experiences You cannot know all this in advance – you must ask “Your mother actually does need to understand what you do” – don’t assume audience© 2011 280 Group LLC.
17. Unite Sales and Marketing to Drive Revenue Successful marketing companies are learning to transcend the old silos of sales and marketing to form teams that jointly manage both marketing and sales pipelines Really single revenue funnel - not separate marketing and sales pipelines - Make critical allocation decisions - Need solid understanding of costs at each stage with details by campaign Team monitors web traffic / inquir y / marketing qualified lead, / sales accepted lead / opportunity /closed deals Results are increased revenues and more “pleasant” way to work© 2011 280 Group LLC.
18. Keep Sales Messages Different from Product Documentation Effective marketing messages are structured around each step in the sales cycle and focused on the people who make the decision or recommendation Product documentation aimed and users and support people Marketing collateral educates prospect about product, differentiation, benefits Understand sales cycle and decisions at each stage - collateral addresses issues and concerns at each stage - Objective is to get agreement to move to next stage of cycle, leading to sale© 2011 280 Group LLC.