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This is not my beautiful
product; how did I get here?
Five strategies for communicating your product message more accurate...
Introduction
Laura Holly
Global Director, Upstream Marketing & Product Management
Systems Integration
Olympus Corporation ...
Our World
Page 3
GLOBAL REVENUE$7 BILLION
18,000+ PATENTS
33,300+
EMPLOYEES
WORLD WIDE
NEARLY
INVESTED
10%HISTORICALLY
IN ...
Problem
Having the experience of reading a
draft brochure, web copy, or sell
sheet and thinking to yourself…
“This is not ...
Audience Poll
After making the hand-off to
marketing, which have you
experienced when reviewing the
marketing collateral?
...
How can I avoid poor communication
with team members that result in an
uneventful product launch?
Key Question
@PCampBosto...
Your takeaway
A repeatable and effective communication
process in order to generate the most impactful
product launch poss...
How do they prefer to communicate?
• Face to Face
• Video Conferencing
• Telephone
• Email
• Text/ IM
What is their motiva...
Product
Manager
Vs. Product
Marketer
“How does side by side
comparison mode help the
physician do their job?”
“Help me ans...
Root cause of failure:
Decision Latency
Timing
• Good decision latency is < 1 hour
• Poor decision latency is > 2 hours
To...
Reality:
Sharing is not enough
You must communicate well enough
to take action and make quick
decisions
@PCampBoston
#PCam...
Audience Poll
What does your handoff marketing
meeting agenda look like?
Hand-offs are hard:
Situation
Background
Assessment
Recommendation
“Failures in hand-off communication can result in a
seq...
Product
Manager
Time Product
Marketer
“I want to build products
that delight my customers.
My goal is to pass the
product ...
The Product SBAR
Scope
Big Value
Assets
Relay & right
Avoids setting incorrect expectations or
just providing flat out wro...
Product Intended Use:
1. What is the product category?
− E.g. enterprise medical recorder, ride-
sharing service
2. What p...
Product
Manager
Guard Rails Product
Marketer
“I want to make sure I
communicate effectively
that this product does not
hav...
Product Value Proposition
• What are key benefits
• How does it differ from named
competitors or competitive
categories?
–...
Rough Draft
Our image recorder makes it
easy to capture HD and 4K
images in jpeg format and
collect high-quality
MP4 video...
Audience Poll
What type of information is most
valuable to you at the hand-off?
A. Quantitative
B. Qualitative
C. Use Case...
Qualitative and Quantitative facts are the building blocks of every story
Step #4 | “What are the product’s Assets”
Valida...
Quantitative Qualitative Ready-made
Stories
$117,750
Annual hospital savings using
product averaging 3 procedures a
day an...
Help anticipate challenges:
• What not to say and why
• Customer expectations
• Market factors determining your
judgment
F...
Value Proposition
Claims
Stories
Right message to be concise and consistent
Summary: Communications
Communication
Norms
Scope Biggest Value Assets Relay & Right
@PCampBoston
#PCampBoston
Our tool: Product Value Template (SBAR)
@PCampBoston
#PCampBoston
Senior Product Manager
https://sjobs.brassring.com/TGnewUI/Search/Home/Home?partnerid=26088&siteid=5535#jobDetails=447160_...
ProductCamp Boston has set up surveys for attendees to provide feedback on
this session.
Please complete the survey online...
Contact Information
Laura Holly
Global Director, Upstream Marketing & Product Management
Global Systems Integration
Olympu...
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150 this is not my beautiful product how did i get here-communicating your product message more accurately and successfully (laura holly &amp; w jeffrey rice)

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ProductCamp Boston May 12 2018

Published in: Marketing
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150 this is not my beautiful product how did i get here-communicating your product message more accurately and successfully (laura holly &amp; w jeffrey rice)

  1. 1. This is not my beautiful product; how did I get here? Five strategies for communicating your product message more accurately and successfully inside and outside the organization ProductCamp Boston | May 12, 2018 Presenters: Laura Holly & Jeff Rice
  2. 2. Introduction Laura Holly Global Director, Upstream Marketing & Product Management Systems Integration Olympus Corporation of the Americas Jeff Rice Manger, Global Product Marketing Systems Integration Olympus Corporation of the Americas Slides will be available afterwards on the ProductCamp Slideshare page. @PCampBoston #PCampBoston
  3. 3. Our World Page 3 GLOBAL REVENUE$7 BILLION 18,000+ PATENTS 33,300+ EMPLOYEES WORLD WIDE NEARLY INVESTED 10%HISTORICALLY IN R&D PUBLICLY TRADED ON THE TOKYO STOCK EXCHANGE ¥ ¥
  4. 4. Problem Having the experience of reading a draft brochure, web copy, or sell sheet and thinking to yourself… “This is not my beautiful product!?!?!” @PCampBoston #PCampBoston
  5. 5. Audience Poll After making the hand-off to marketing, which have you experienced when reviewing the marketing collateral? A. Too much focus on a product feature B. Lack of emphasis on a product feature C. Facts in wrong context or inaccurate D. Product claims over/ under promise E. All of the above
  6. 6. How can I avoid poor communication with team members that result in an uneventful product launch? Key Question @PCampBoston #PCampBoston
  7. 7. Your takeaway A repeatable and effective communication process in order to generate the most impactful product launch possible
  8. 8. How do they prefer to communicate? • Face to Face • Video Conferencing • Telephone • Email • Text/ IM What is their motivation? • Identify key performance objectives • Review product launch against their priorities • Is it important? • Is it relevant? • Is it urgent? Step #1 | Before communicating, ask… @PCampBoston #PCampBoston What can I do to make their job easier?”
  9. 9. Product Manager Vs. Product Marketer “How does side by side comparison mode help the physician do their job?” “Help me answer our audience’s WIIFM” “Now with side by side comparison mode” “A new solid state drive” @PCampBoston #PCampBoston
  10. 10. Root cause of failure: Decision Latency Timing • Good decision latency is < 1 hour • Poor decision latency is > 2 hours Top factors to reduce decision latency • Empowered teams • Emotional mature teams Source: Nanomorphics: The Age of Accelerated Change presentation given by The Standish Group and the Antwerp Management School “For every $1 million in labor cost (on a project) there are about 1,000 decisions that have to made. Projects of this size fail because of "decision latency" - - the time it takes to make each decision” Jim Johnson Chairman of The Standish Group and professor at the Antwerp Management School @PCampBoston #PCampBoston
  11. 11. Reality: Sharing is not enough You must communicate well enough to take action and make quick decisions @PCampBoston #PCampBoston
  12. 12. Audience Poll What does your handoff marketing meeting agenda look like?
  13. 13. Hand-offs are hard: Situation Background Assessment Recommendation “Failures in hand-off communication can result in a sequence of misadventures and adverse events which can include medication errors, medical complications, readmissions and even loss of life.” Ana Pujols McKee, MD Executive VP and CMO The Joint Commission, 2017
  14. 14. Product Manager Time Product Marketer “I want to build products that delight my customers. My goal is to pass the product facts on to marketing, and get working on the next release” “I don’t want to have another meeting and review another draft.” “I want to receive the information, and get working on the telling a great story” “I don’t want to go back and ask for more details” Finite resource, everyone only gets 24 hours each day
  15. 15. The Product SBAR Scope Big Value Assets Relay & right Avoids setting incorrect expectations or just providing flat out wrong information to internal and external audiences
  16. 16. Product Intended Use: 1. What is the product category? − E.g. enterprise medical recorder, ride- sharing service 2. What problem(s) does it solve? − E.g. “Reduces revenue lost attributed to e-shopping cart abandonment” 3. Who is it for? − E.g. “Residents and fellows at teaching hospitals with significant volume of general surgery, colorectal and bariatric procedures.” Release Objectives: 1. What are the business motivations for this release? − E.g. Competitive response, enter a new market, line extension to support…. 2. What are the measurable objectives? − E.g. % market share, conversion % of old release customers, $ revenue from new features…. Step #2 | “What’s the product’s SCOPE?” @PCampBoston #PCampBoston Availability • When will it be available • Where will it be available • Named markets
  17. 17. Product Manager Guard Rails Product Marketer “I want to make sure I communicate effectively that this product does not have the same feature set functionality of its higher priced counterpart.” E.g. LiveStream® in nCare® vs. EasySuite® 4K “I want to make sure I understand which medical devices are most relevant to our target audience, within the long list of devices that are compatible with this product” E.g. Surgical Endoscopy vs. OR environments
  18. 18. Product Value Proposition • What are key benefits • How does it differ from named competitors or competitive categories? – Parity, Strength, or weakness Feature / Benefit by Persona • Most important features • WIIFM − What value does it bring to the customer? − How does this persona use the product? − Why is this benefit most important to the customer? Step #3 | “What’s the product’s BIGGEST VALUE Proposition” @PCampBoston #PCampBoston Be sure to highlight: • What’s unique • What’s new What not to say is just as important • What’s not new • What subjects to avoid • What should not be said
  19. 19. Rough Draft Our image recorder makes it easy to capture HD and 4K images in jpeg format and collect high-quality MP4 videos Value Proposition Polished For a physician who needs to view, record, and compare high-definition medical video and high- resolution images, the enterprise medical recorder can be deployed nearly anywhere, from an endoscopic cart to an equipment boom. Unlike.. Find it by answering… • Who’s it for ? • What’s the problem(s) we solve or the customer need(s)? • What kind of product is this? • What are the key benefit(s)? • Who are the key competitors and how are we different ? First ask… “If I am the ideal prospect, why should I buy from you rather than your competitors?” Make sure it has… • Appeal • Exclusivity • Credibility • Clarity
  20. 20. Audience Poll What type of information is most valuable to you at the hand-off? A. Quantitative B. Qualitative C. Use Case Stories D. Any kind I can get! E. All of the above
  21. 21. Qualitative and Quantitative facts are the building blocks of every story Step #4 | “What are the product’s Assets” Validation: • Testimonials • Customers, KOL, Analysts • Certifications • Published Studies Proof: • Improvement results • Data & Metrics @PCampBoston #PCampBoston
  22. 22. Quantitative Qualitative Ready-made Stories $117,750 Annual hospital savings using product averaging 3 procedures a day and 250 days per year. The OR staff at northeast MA community hospital play movies for kids on HD monitors controlled by handheld touch screens to help put kids at ease before surgery. “It is a decision I have never ever regretted. Our videos, our editing system, our presentations are the envy of the academic neurosurgical world, and that really all has to do with this particular investment.” Robert Spetzler, MD President & CEO Emeritus Chair, Neurosurgery Barrow Neurological Institute
  23. 23. Help anticipate challenges: • What not to say and why • Customer expectations • Market factors determining your judgment FAQs: • What will customers ask? • What will sales ask? Step #5 | Relay domain knowledge @PCampBoston #PCampBoston Be open to Receive recommendations from marketing based on: • Internal forcing functions • External events (i.e. tradeshows)
  24. 24. Value Proposition Claims Stories Right message to be concise and consistent
  25. 25. Summary: Communications Communication Norms Scope Biggest Value Assets Relay & Right @PCampBoston #PCampBoston
  26. 26. Our tool: Product Value Template (SBAR) @PCampBoston #PCampBoston
  27. 27. Senior Product Manager https://sjobs.brassring.com/TGnewUI/Search/Home/Home?partnerid=26088&siteid=5535#jobDetails=447160_5535 Product Manager https://sjobs.brassring.com/TGnewUI/Search/Home/Home?partnerid=26088&siteid=5535#jobDetails=459184_5535 Director-level position to be opened soon – contact Laura Holly if interested Job Opportunities in System Integration http://medical.olympusamerica.com/about/careers
  28. 28. ProductCamp Boston has set up surveys for attendees to provide feedback on this session. Please complete the survey online by clicking on the FEEDBACKSURVEY link in this session’s description page at http://www.productcampboston.org/2018sessions Session Feedback ______ ____
  29. 29. Contact Information Laura Holly Global Director, Upstream Marketing & Product Management Global Systems Integration Olympus Corporation of the Americas Email: lholly@imagestreammedical.com LinkedIn: /lauraholly/ W. Jeffrey Rice Marketing Manager Global Systems Integration Olympus Corporation of the Americas Email: jrice@imagestreammedical.com LinkedIn: /wjeffreyrice/ @PCampBoston #PCampBoston

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