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Product Management Playbook product inception to launch

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Product Management Playbook product inception to launch

  1. 1. THE PLAYBOOK PRODUCT INCEPTION TO LAUNCH
  2. 2. 2 What I believe… There is work, then there is fulfilling work. The kind of work that has your fingerprints all over it. The kind of work that you’d never compromise on. That you’d put your heart and soul into and that fulfills your spirit. The kind of work that makes a difference. You can do that work here. Don’t join my team to play it safe. Don’t be afraid to take a risk, a leap, if you believe it. Swim in the deep end with me. Then, your work will add up to something. Something big, something that could not happen unless we made it so. 2
  3. 3. What I also believe: VISION WITHOUT TECHNIQUE…IS BLIND
  4. 4. 4 Agile methodologies need to tie to business Both the business and the development teams need to move quickly Much has been said about Agile development methodologies, both good and bad. Much of the negative comments lean towards the inability for a Product organization to keep the development team accountable to the end outcome. My assertion is that any good development methodology needs an product management framework to keep up with the development streams and coordinate the right work …This is that methodology.
  5. 5. 5 The Product Strategy Playbook These are the key elements of the Product Strategy Playbook The Price/Value Map – Defines both the pricing strategy and determines and organizes the roadmap to ensure success in the market01 The Offer Mix Scorecard – measures the health of the product line by market and focuses the business on the key elements that need to be rectified to establish success.02 User Story Assessments – the key mechanism for gathering customer requirements in an Agile development world.03 Release Process Workflow – The key responsibilities of the players in any software release.04 LEAN Canvas – focuses the product launch efforts into a set of key points about the product and how it solves for the business outcomes the user is seeking.05 Blue Ocean Analysis – Strategic planning tool that helps define areas to extend from competitionA Category Power Analysis - Defines areas in investment within Horizon 1, 2 or 3 events for mature businessesB Competitive Matrix – keeps track of the competitive analysis in internal termsC Primary Tools Secondary Tools
  6. 6. 6 The Price Value Map Primary Market Assessment tool and Strategic Decisioning Tool The Price Value Map is the base tool to the framework. It is, essentially, a market map from which to base: • Pricing Strategy • Product Strategy • Market Position • Future Potential Growth The tool measures “Percieved Customer Value” against “Market Price” to determine where your product/service compares to competitors
  7. 7. 7 Price Value Map Details Measuring Perceived Customer Values The Price Value Map measures how customers perceive the solutions in the market place based on a series of weighted attributes that include both Core and Product Attributes. These include: Core Attributes (in every PV Map): • Customer Service: how well the product is serviced by the company. • Channel Effectiveness: Effectiveness of the sales channels • Channel Reach: Breadth of the sales channels • Brand Equity: Measures Marketing effectiveness • Ease of Use: how easy the tool is to utilize by the customers Functional Attributes (varies by product): • These describe key attributes that the market determines the product must have vs. the competition. • Examples include: – Reporting & Analytics – Integrations – Key product functionality
  8. 8. 8 Example Price Value Map Web Decisions Experian Acxiom Epsilon Solution Set Merkle / Cognitive InfoGroup Printers 2.75 3.25 3.75 4.25 4.75 5.25 5.75 4.25 5.25 6.25 7.25 8.25 Price Perceived Customer Value Price/Value Map Web Decisions Experian Acxiom Epsilon Solution Set This example details a market that is commoditizing and low cost leaders are coming in to gain share. Bubble sizes represent current revenue for the product line.
  9. 9. 9 Mapping High Impact Requirements to the market Requirement collection and prioritization
  10. 10. 10 Writing Value Based Requirements • People often jump to conclusions about features without understanding consequences • Value Based requirement allow for better review and thought around the feature set to satisfy real requirements • Solves the “Need” not the “Want” • Drives to the Value Proposition • Empirical evidence to support roadmap If I had listened directly to my customers… …I would have bred a faster horse.
  11. 11. 11 Value Based Requirements vs. Feature Requests • Increase visibility into my data • Decrease the time it takes to obtain reports • Increase ability to segment and select my customers post-merge • Decrease the time it takes to execute data hygiene processes • Increase visibility into which processes need to run • Decrease human intervention into Data Management efforts • Increase the ease of running processes • I want a reporting tool • I want a dash-boarding tool • I want to run queries and counts • I want to select customers • I want to automate processes • I need access to my data • I need another report • Buy Alterian • I need another widget Value Based Requirement Feature Request
  12. 12. 12 Value Based Requirement Guidlines • Independent: avoid introducing dependencies – Leads to difficulty prioritizing and planning • Negotiable: stories are not written contracts. Too many details give the impressions that there’s no need to talk further. Need some flexibility so that we can adjust how much of the story gets implemented. • Valuable: Stories must be valuable to either users and buyers • Estimable: detailed enough to provide an indication of effort • Small: split compound stories along operational boundaries (CRUD…) • Testable: acceptance tests. “Test with…”
  13. 13. 13 All Requirements are then Scored Two values, scale of 1-10, 10 being the highest Importance Satisfaction • Devises the impact that the improvement would have on the business outcome • Answers the question, if I solve this problem, what impact would it have on your business? • Can be expressed in Quantitative forms (rather than subjective) – Total Revenue impact – Total Cost Impact • Devises how well this problem is solved today with current solutions • If a decent work around exists, it will minimize the impact of the outcome • Is an accelerator or decelerator to the opportunity score
  14. 14. 14 The Opportunity Score Opportunity = Importance + MAX(Importance – Satisfaction,0) • Highlights both underserved and over- served requirements • Allows us to quickly asses and compare key business outcomes • Business outcomes are built into requirements by the PM group. • Opportunity is an empirical measure that can be easily ranked to help focus Product Efforts Importance Satisfaction Over-served (customer sat) Appropriately Served (revenue Protection) Under-served (revenue generation)
  15. 15. 15 Requirements are also Categorized As an [actor] I want [action] so that [achievement] 3/8 Importance / Satisfaction BU C Buying-Using-Vision- Competitive 7 evidence Analytics Price Value Category
  16. 16. 16 Now, we apply economics to determine priority Priority = Impact (Opportunity) Level of Effort Additional Considerations: • Market Evidence (how many times the feature is requested) • Strategic Client Requests • Competitive Pressure (should be market validated)
  17. 17. 17 Per Release, we can then measure impact 0 1 2 3 4 5 6 7 8 9 10 5.7 5.6 5.5 5.4 5.3 ET Responsys Neolane
  18. 18. 18 Product Release Ensuring a highly collaborative rollout to market
  19. 19. 19 Product Releases depend on positive exchanges of key information For speed, it must be consistent and comprehensive 03 02 01 .05 Product Planning LEAN Canvas Market Needs User Personas PV Map Org Readiness Assess organizations ability to adopt: • New Tools • New Processes • New Outputs • New Positioning • New Language/Terms Productization Packaging & Naming Pricing Strategy Contracts & Billing Begin Collateral Creation Org Readiness Training Sales/Client Management Training Client Delivery Training Marketing Promotions begin External Promotion Update Website Blog Posts Press Releases Lead Gen Activity Case Studies LAUNCH!
  20. 20. 20 LEAN Canvas is the primary control document for release • This document holds all key information regarding the value of the release • Almost all client facing activity can derive from this document • It is a living and breathing document that is updated as new information comes to light • Shared by all key groups, but built by Product Mangement
  21. 21. 21 Lean Canvas: An Example
  22. 22. 22 General Overview – TruReport 4.0 (MVP) Problems that the Business (TE) or Clients are currently facing and the proposed solutions • Problems TE is currently facing • Do not have effective, efficient and scalable way of producing reports for clients • Too many custom requests and custom reports being created • Reports aren’t showcasing Trueffect’s 1st party differentiator and performance recommendations effectively • Too many different processes and tools being used to generate reports • Report builder is being over utilized due to lack of campaign standards • Solutions that TE needs • 1 streamlined process and 1 reporting tool the does the following: • Produces a set of standard reports with configurable options • Solves operational inefficiencies • Showcasing TE’s true value differentiator (1st Party Advantage) • Helps clients sell as many products/services at the best possible media cost • Inspire users to take action and optimize their media spend & strategy according to results
  23. 23. 23 Strategic Rationale High-level reasons, goals, and predictions for the project/product • Company Vision (Super high-level long-term effect that the business wants this product to have on the industry) • To create a new perspective for advertisers by offering accurate and actionable 1st party advantage reporting that justifies TE’s unique value and inspires advertisers to proactively innovate and enhance their media buying strategies across multiple channels. • MVP Goal (Main goal that the business wants to achieve with this MVP) • Create a standard and scalable reporting set that acts as the foundation for Truadvertiser 4.0’s analytics and reporting offering • MVP Hypothesis (The projected outcome of the MVP’s existence) • By creating standard reporting sets, TE will reduce the time it takes to service managed clients and increase product usage demand from existing and new self-service clients resulting in longer-term partnerships and additional revenue
  24. 24. 24 Lean Canvas Exercise - Business Canvas Business Canvas Card elements in prioritized order Problem: 1. High operational inefficiency Internal + Clients (including sales) 2. No automated budget allocation recommendations 3. Not effectively and efficiently showing our differentiator (1st party) 4. No timely output of performance improvements overtime (Weekly Trends) 5. Using too many tools to product reports 6. Too many custom reports 7. Too many separate processes, procedures, and tools (Excel, MS, PPT) 8. Clients are demanding too much Solution: 1. Standard set of actionable reports (w/ recommendations) 2. Standard report configuration 3. Showcasing differentiator via reports (1st party) 4. One tool w/ export for client 5. Only one tool being used 6. Streamline report generation 7. Import more media buying data from vendors (averages of transactions…comparing) 8. As real-time as possible Unique Value Proposition: 1. 1st Party data representation (Audience Segments & robust measurement) 2. Effective media spend 3. Lots of robust data 4. Client’s data isn’t leaked Unfair Advantage: 1. We use client’s 1st party data (Audience segments) 2. Help spend money more efficiently than others using more accurate data 3. Client’s maintain control of their data Channels • Existing clients (Self & Managed) • Sales (New Clients) Hypothesis: • Reduce time it takes to service managed clients • Increase usage demand for self-service clients • Long-term partnerships Business Intent 1. Parity 2. Showcasing TE’s value prop (1st party advantage) 3. Grow sales (increasing & New) 4. Improve client support by solving our internal reporting inefficiencies Cost Structure • Development Time • Data Storage • Client Services time • Microstrategy Licenses Revenue Stream • Standard – Free • Advanced - $ • Custom - $$ • Analytics - $$$ MVP Goal: • Create a foundation for Truadvertiser’s analytics and reporting offering/features
  25. 25. 25 Lean Canvas Exercise – MVP Product Canvas Product Canvas Card elements in prioritized order Name: • MS Reports MVP Customer Segments (Personas) 1. Delivery/Account/Campaign manager (including Media Buyer) 2. Director of Marketing/Digital 3. Data Analyst Key Activities/Features (MVP Scope) • Enhance Performance Tab • Add Standard Reports Tab • Multiple categories of standard reports • 1 report per each category • Standard set of dashboards • custom reports tab enhancements Success Criteria: • Decreased time generating reports • Build standard report that satisfies 80% of mid-tier clients • Increased adoption of 1st Party participation • Effectively used in sales demo (increase sales)  longer partnerships • Fewer report requests (mid-tier clients) Product Design Requirements • One template UI • Microstrategy design elements • Updated visualizations Vision: • Uniqueness, showcase unique value, create new perspective in ad industry, drive efficiencies for clients, justify actions/recommendations via more accurate data, transparency, inspire to take action  innovate w/ media strategies/buying/ User Journeys (Epics) As a user I want to see…(STI = “So that I…”) 1. …site tag activity, STI can see which publishers are creating activity 2. …content (creative) performance, STI know which creative to show more frequently 3. …daily advertising results, STI can make sure I am driving towards established KPIs (Trending differences) 4. …my audience segments, STI can verify I am getting what I am paying publishers to do (1st party adv.) 5. …how many of my site visitors am I finding in my retargeting but, STI can see if I need to buy more retargeting (Retargeting Only) 6. …how many times I am serving the same ad to the same person, STI know when to add/adjust Freq cap (Frequency) 7. …how many people are seeing my ad, STI know what publisher I need to increase/decrease reach with (Reach Metric) 8. …how many publishers are serving my ads to the same person, STI know which publisher I am wasting money with (Overlap) 9. …Geo/Device/Brower my ads are being served to/on, STI know which GEO/Device/Browser are most successful 10. …which content/publisher is selling my product mix the most, STI know which content/publisher I need to change 11. …what my previous KPIs were for a given month/campaign (KPI history), STI know what my new ones should be 12. …a list of my tactics and their performance, STI know which tactics are most successful Tech Design Requirements • Microstrategy platform Risks: • Limited to Microstrategy features and functionality and design • Legacy data structure • Scope creep
  26. 26. 26 Performance Tab MVP Feature / Benefits Statements List of the main features and the value they create for our users Standard Reports Tab 1 2 Custom Reports Tab 3 TruPath Reports Tab 4
  27. 27. 27 Update User Permissions and Access MVP Feature / Benefits Statements continued… List of the main features and the value they create for our users Updated Login & Navigation Dashboard Tab Reports Summary Tab Reports 5 6 7 8
  28. 28. 28 Pacing Tab Reports MVP Feature / Benefits Statements continued… List of the main features and the value they create for our users Media Tab Reports Creative Tab Reports Trends Tab Reports 9 10 11 12
  29. 29. 29 Events Tab Reports MVP Feature / Benefits Statements continued… List of the main features and the value they create for our users 13 Daypart Tab Reports 14 Consistent Report Design and Functionality 15
  30. 30. 30 FEATURE Vestibulum ligut praesent commodo cursus magna, consectetur et. 02 FEATURE Vestibulum ligut praesent commodo cursus magna, consectetur et. 04 FEATURE Vestibulum ligut praesent commodo cursus magna, consectetur et. 01 FEATURE Vestibulum ligut praesent commodo cursus magna, consectetur et. 03 Screen Shots and Feature/Benefit Statements Lorem ipsum dolor sit amet, consectetuer adipising elit
  31. 31. 31 Market Outlook Major industry topics, trends, issues, and forecasts related to our product Parity, Intuition & Real-time: Vendors such as Google and Media Math have set the UI design expectations for data visualizations and layout in which TE will need to meet to stay competitive in the marketplace, but additionally there is the opportunity to differentiate by offering a level of intuition through the platform that assists advertisers in taking action and optimizing their media campaigns and spending during flight using real- time 1st party data 1 1st Party vs. 3rd Party Reports: Our main competitors in the marketplace all have reporting and analytics/performance dashboards that contain visualizations and rich data, but their performance metrics are all derived from 3rd party data that isn’t as robust as 1st party data. This makes their media budget allocation recommendations more inaccurate for their clients than if the recommendations were based off of 1st party data. 2 Budget Allocation: Because of the 1st party advantage that TE has, they have a big opportunity to create an impact in the marketplace by providing more accurate media spending recommendations based on 1st party data. The ability to offer meaningful budget recommendations helps establish longer-term credibility & partnerships w/ clients 3 Multiple Media Channels: Online display is the first of many channels that advertisers are looking to sync up with their overall marketing ROI strategy. Building a platform that tracks the ROI across multiple channels would prove to be extremely valuable to any brand/agency 4 Pricing: Deciding what report functionality is included as being a TE Client and what is considered extra cost will have an impact of where TE would like to position themselves on the price value map 5
  32. 32. 32 TruReport 4.0 Roadmap & Release Plan Remaining Product Management process milestones prior to Development Phase Product Acceptance # Version Release Name High-level Features 1 4.0 Anakin • Update Login Screen • Update Navigation Bar • Update Performance Tab Reports 2 4.0 Boba • Standard Dashboard Reports 3 4.0 C-3PO • Standard Summary Reports 4 4.0 Chewy • Standard Pacing Reports 5 4.0 Darth Vader • Standard Media Reports 6 4.0 Darth Maul • Standard Creative Reports 7 4.0 Han Solo • Standard Trends Reports 8 4.0 Jabba • Standard Events Reports 9 4.0 Luke • Standard Daypart Reports See RM & RP Doc here
  33. 33. 33 TruReport 4.0 (MVP) Project Milestones Remaining Product Management process milestones prior to Development Phase Initial Backlog Product Manager will gather the initial MVP scope (Epics) and start to create an initial backlog in prioritized order. UX Designs Design team will create Hi-fi wireframes, the Style Mood Board, Screen Tree, and any/all necessary design deliverables that we all will review and approve together. Day 1 of Development (Backlog Grooming #1) After the visual designs have been approved, Product Manager and the team will update the backlog via backlog grooming and provide high-level estimates that will inform the product roadmap and release plan. MVP Backlog The backlog will be in prioritized order and contain high-level estimates and be ready for development. Product Roadmap & Release Plan Product Manager will create the initial Product Roadmap & Release Plan based on the high-level estimates that the team has provided in the initial prioritized backlog. This doc is to be updated weekly. Development & Visual Designs
  34. 34. 34 Measuring the Release Ensuring success
  35. 35. 35 Post Release we measure success Growth comes from constant improvement in key areas We measure our selves on a monthly basis to ensure constant improvement Highlighting key projects designed for improvement We call this the Offer Mix Assessment
  36. 36. 36 Post Release Measurement The Offer Mix Assessment Template Δs in Market Δs in Competition Key Product Trends and Opportunities Offer Mix Scorecard 4Q11 1Q12 Comment Channel Promotion Positioning Price Product Service & Delivery Total Legend: 1-Poor, 2-Adequate, 3-Good, 4-Excellent
  37. 37. 37 Example Offer Mix Assessment Δs in Market • The desire for real-time data integration continues to grow • Desire for limited data matching and linkage (ie: email only data) for integration into data warehouses is significant. • Desire to include new data such as web analytic partner identifiers to drive matches is starting to emerge. • Facebook recently shut off access to public data via Open API. The climate for obtaining FB data will be tenuous in the near term. Δs in Competition • Traditional competes are not offering anything new to challenge our traditional CDI offering. • Primary threats are from digital linkage outfits claiming to be able to link across channels. Key Product Trends and Opportunities • Primary threats are from digital linkage outfits claiming to be able to link across channels. • Nimbus linkage engine to eventually replace current Truvue-only pinning. Will take time (est. 9-12 months) for maturity of Nimbus to match that of core Truvue. 12/11 1/12 Comment Channel 2 3 • Close three sizeable CDI deals for AMEX and Dow Jones and Volkswagen, total contract value $750,000 Promotion 2 3 • Special pricing promotions that has been rolled out to sales and account management to sell data quality products Positioning 2 2 • Despite several big wins we have not expand our footprint as expected. Price 4 4 • Traditional pricing continues to be competitive, no issues • Price for utility offering is under analysis Product 3 3 • Initial prototype of CCL being developed Service & Delivery 4 4 • No new product releases • No known issues in delivery our products today Total 17/24 19/24

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