Discussion Document
Mark Shapiro
Agile Product Marketing Group
5.3.2014
How do you measure up? A crowd-sourced,
cross-poll...
The	
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Focused	
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Understands	
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Product	
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To	
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  Whole	
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Guiding	
  Principals:	
  Goals	
  and	
  Objec1ves	
  
•  Build	
  Market	
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–  Thought	
  leadership	
  
– ...
For	
  Starters:	
  	
  Know	
  the	
  Customer	
  and	
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  BUYING	
  PROCESS	
  
Measure	
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  and	
  Outcome...
And	
  Translate	
  into	
  KPIs	
  
How	
  about	
  some	
  metrics	
  like	
  these?	
  
	
  
•  Measure	
  sales	
  cyc...
What	
  Happened	
  ?	
  
A	
  lot	
  of	
  food	
  for	
  
Thought	
  
Generated	
  
	
  
Session	
  started	
  10:30	
  ...
Takeaways	
  
•  It’s	
  really	
  hard-­‐	
  most	
  people	
  are	
  so	
  heads	
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  working	
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  ...
Con1nue	
  the	
  Conversa1on 	
  	
  
Mark@marketwithagilty.com	
  
www.marketwithagility.com/forums	
  
	
  
Mark	
  Sha...
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How do you measure up? A crowd-sourced, cross-pollinated discussion on evaluating product marketing effectiveness (Mark Shapiro) ProductCamp Boston 2014

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As a product marketer how do you evaluate if you’re being effective? If you’re in marcomms, product management, sales or the CEO how do you evaluate if the role is being effective and properly supported?

Is product marketing judged on volume output such as leads, events, webpages or trainings produced? Are you being driven by “optics and politics” and “the way things are done here “or jumping on the latest trends and content tactics du jour.

How do you determine if your priorities are in the right place? If you are over or understaffed, if there are bottlenecks or organizational issues that inhibit effectiveness. Is your measure of success different at different stages of product/company development? Does product marketing in a start-up or for a new product get measured in the same way as a more mature one?

Are there common metrics regardless of company size or product maturity?

We’ll propose some straw man metrics and then organize the chaos that will likely ensue. So come ready to participate!

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How do you measure up? A crowd-sourced, cross-pollinated discussion on evaluating product marketing effectiveness (Mark Shapiro) ProductCamp Boston 2014

  1. 1. Discussion Document Mark Shapiro Agile Product Marketing Group 5.3.2014 How do you measure up? A crowd-sourced, cross-pollinated discussion on evaluating product marketing effectiveness
  2. 2. The  Format  
  3. 3.   When  it’s  all  said  and  done       What  can  product  marke4ng  do  to   posi4vely  impact  revenue     when  they  aren’t  the  one’s  doing  the   selling?      
  4. 4. Product     Marke1ng   Product     Management   Focused  on  the  PRODUCT   Understands  the  CUSTOMER   Focused  on  the  CUSTOMER   Understands  the  PRODUCT   Goal/Responsibility   Understanding  and  defining  the   hardware  and  so0ware  environment  in   which  the  product  will  operate,  and   how  the  customer  will  use  the  product.       Key  Ques<ons:   •  What  is  the  problem  that  the   product  solves?   •  How  does  it  solve  it?   •  How  does  it  work  in  its  hw/sw   opera<on  environment     Goal/Responsibility   Understanding  and  defining  the   context    in  which  the  customer  is   making  the  buying  Commitments   Key  Ques<ons:   •  Why  would  the  customer  want   the  product?   •  Why  would  the  customer  pick   this  over  other  op<ons?   •  Do  Nothing     •  Compe<<ve  Product   TASKS   Define  PRODUCT  landscape   •   Opera<ng  condi<ons  of  the  product   •  Iden<fy  compe<<ve  offerings  from  a  product  capabili<es  point  of   view.       PRODUCT  defini4on     •  Define  func<onal  requirements,  specifica<ons,  UI,  OS,  memory  ,   power  etc…     •  How  do  product  features  meets  customer’s  needs   •  Tes<ng  cer<fica<ons,  interoperability,  standards  requirements   •  Iden<fy  how  compe<tors  will  respond  technically  to  product   PRODUCT  focused  Sales  Support   •   PRODUCT  TRAINING   •  Customer  engagement    at  boTom  half  of  funnel  as  necessary       TASKS   Define  CUSTOMER  landscape   •  Understand  and  ar<culate  customer’s  problems  and  needs   •  Understand  and  ar<culate  the  current  solu<ons  to  these   needs   PROMISE  defini4on     •  How  do  customers  gain  advantage  from  product  features   •  Iden<fy  compe<<ve  advantages  of  product  as  they  relate   to  customers  needs  and  alterna<ve  solu<ons     •  Iden<fy  compe<<ve  response  to  promise   VALUE    Focused  Sales  Support   •  SALES  TRAINING     •  Customer  engagement  at  top  of  funnel   •   Lead  Genera<on  &  Sales  Tools   Roles  &  Responsibili1es   First  Let’s  Set  Some  Parameters  
  5. 5. Product  Marke1ng  Provides  Sales  Enablement  “Services”   To  Reduce  Fric1on  in  the  Whole  Buying  Process         Product  Marke<ng’s  role  is  to    equip  all  customer-­‐facing  individuals  with  the   ability  to  consistently  and  systema<cally  have  a  valuable  conversa<on  with  the   right  set  of  customer  stakeholders  at  each  stage  of  the  customer's  problem-­‐ solving  life  cycle  to  op<mize  the  return  of  investment  of  the  Sales  organiza<on   (<me  and  effort  required  to  close  sales  ).     5  
  6. 6. Guiding  Principals:  Goals  and  Objec1ves   •  Build  Market  Presence   –  Thought  leadership   –  ‘get  found’  more  easily  online  via  search  engines,  blogging  and  social  media  sites.       –  Gain  coverage  by  press  and  and  industry  analysts   •  Build  Sales  Pipeline   –  Leverage  lead  conversion  techniques  so  that  we  have  increasing  number  of  marke1ng   qualified  leads     •  Improve  Sales  Outcomes   –  Methodically  convert  leads  to  customers.  Eliminate  random  acts  of  Sales  enablement  and     provide  Sales  with  tools  and  training  to  op1mize  selling  1me  based  on  mutually  agreed  upon   approach   •  Learn  what  works  and  where  to  invest   –  Measuring/Analyzing  our  programs  so  that  we  can  become  more  effec1ve  over  1me   –  Determine  our  leads  and  customers  paths  to  conversion  as  they  work  through  our  sales  and   marke1ng  funnel   •  Achieve  greater  profitability     –  Increase  efficiency    by  applying    learning  to  ac1vi1es  in  a  scalable  and  repeatable  manner   Establish  measurement  for  each  of  these  goals  
  7. 7. For  Starters:    Know  the  Customer  and  the  BUYING  PROCESS   Measure  Inputs  and  Outcomes   Become  the  experts  on  your  buyers   Set  a  quota  that  requires  product  marketers  to  interact  with  poten1al  buyers,  outside  the  office  and   write  up  what  they  learn.  Start  with  eight  or  ten  per  quarter.       These  are  interac1ons  that  are  not  conducted  as  part  of  a  sales  call.     IdenKfy  and  correct  boMlenecks  in  the  funnel   Conduct  ongoing  analysis  of  deals  looking  at  the  each  step  in  the  funnel.  Iden1fy  where  deals  are   geZng  stuck  and  focus  on  correc1ve  measures.  IdenKfying  paMerns  over  a  series  of  deals  and  avoid   drawing  conclusions  from  a  single  deal,  which  could  send  you  on  a  wild  goose  chase.  Removing  a   boMleneck  in  the  funnel  can  have  much  more  impact  on  sales  throughput  than  genera1ng  more   leads.     Take  ownership  of  win/loss  analysis   Not  forensic  style  of  win/loss  analysis  where  you  look  for  the  person  to  punish  for  not  winning  the   deal.  It’s  the  type  of  win/loss  analysis  where  you  idenKfy  paMerns  that  can  lead  to  potenKally   huge  revenue  improvements.     Product  marke1ng  managers:  own  this  ac1vity  in  collabora1on  with  product  manager  counterparts.   Each  has  a  different  filter  on  the  ac1vity  that  results  in  iden1fying  different  insights.      
  8. 8. And  Translate  into  KPIs   How  about  some  metrics  like  these?     •  Measure  sales  cycle  and  reducKon  in  cycle  Kmes   •  IdenKfied  and  removed    boMlenecks   •  Increasing  the  volume  of  opportuniKes  (not  just  leads)     •  Increasing  closure  rates   •  Track  use  of  markeKng  created  assets  and  effect  on  sales   process  –  test  what  works  and  what  doesn’t  at  the  boMom  of   the  funnel    
  9. 9. What  Happened  ?   A  lot  of  food  for   Thought   Generated     Session  started  10:30   Session  ended  11:20   Session  lasted  50  Minutes   This  was  really  helpful  !   Definitely  not    a   linear  format  or   conversa4on   Thanks  for  doing  this  -­‐this  was  great  !   A  lot  of  great  dialog   and  idea  sharing  !  
  10. 10. Takeaways   •  It’s  really  hard-­‐  most  people  are  so  heads  down  working  on  specific  deliverables  –   measurement  is  given  li`le  considera1on   •  Measurement  is  focused  mostly  on  top  of  the  funnel  and  is  now  greatly  aided  by  marke1ng   automa1on  and  analysis  tools   •  Measure  what’s  important  –  not  just  what’s  easy  to  measure   •  Measure  wins/losses  against  targeted  segments   –  If    product  is  designed  for  manufacturing  but  we  lost    a  deal  in  banking  then  not  the  fault  of   marke1ng  tools  designed  for  mfg.  targets   –  Ensure  Sales  is  going  aaer  the  right  prospects  whenever  possible   •  Measure  bo`om  of  the  funnel  not  just  the  top   •  A/B  test  tools  provided  to  sales     •  Align  communica1ons  between  Sales  and  Marke1ng  to  establish    milestones  and  outcomes   >>  then  measure  against  achievement   •  Test  sales  understanding  of  messaging     –  During  training   –  On  sales  calls   •  Set  goals  for  external  events   –  Establish  expecta1ons  and  metrics   –  Track  contacts  and  conversa1ons   –  Map  to  outcomes  
  11. 11. Con1nue  the  Conversa1on     Mark@marketwithagilty.com   www.marketwithagility.com/forums     Mark  Shapiro   862.245.1697            

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