Product Management Metrics Be the Product CEO


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A simple model to help Product Leaders manage their products like a CEO manages a company. i.e. stay focused on what's most important, but maintain a holistic view of the overall state and direction of the product. Covers 4 key areas -- Business, Organization, Go-to-Market, and Product.

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Product Management Metrics Be the Product CEO

  1. 1. Product Management MetricsHow to truly manage yourproducts like a CEOJune 9, 2012Saeed KhanTwitter: @saeedwkhan, Copyright © Saeed Khan 2012
  2. 2. Is this you?  Copyright © Saeed Khan 2012
  3. 3. My Talk Last Year Copyright © Saeed Khan 2012
  4. 4. The goal of Product Management To deliver measurablebusiness results through product solutions thatmeet both market needsand company objectives. Don Vendetti - Copyright © Saeed Khan 2012
  5. 5. Comments during the talk “the business people push us to fill the gap on the technical side of things.”Is that desired? “No, but that’s the way it is.” Copyright © Saeed Khan 2012
  6. 6. 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 2012
  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 2012
  8. 8. What examples arethere for managing Products in a systematic way? Copyright © Saeed Khan 2012
  9. 9. Captain Jack – Product Manager Copyright © Saeed Khan 2012
  10. 10. Soon a True PM you shall be! Copyright © Saeed Khan 2012
  11. 11. Don’t let Chuck Norris stop you! Copyright © Saeed Khan 2012
  12. 12. Lots of Web funnel related metrics • • • right-now/ Copyright © Saeed Khan 2012
  13. 13. Couldn’t find anything taking a holistic view of the overall state of the product Copyright © Saeed Khan 2012
  14. 14. The key question How to truly manage the product across the product lifecycle? (and stop being the gap filler) Copyright © Saeed Khan 2012
  15. 15. What is“the Product”? Copyright © Saeed Khan 2012
  16. 16. What is “the product” OR…. What are the majorareas I must track and manage to ensure product success? Copyright © Saeed Khan 2012
  17. 17. 4 Areas of Focus Business Organization Go To Market Product Copyright © Saeed Khan 2012
  18. 18. 4 Areas of Focus Business Organization Corporate Objectives, Internal Training and Revenue, Pipeline, Enablement (Sales, Win/Loss, Renewals, Support, Marketing etc.) Pricing, etc. Go To Market Product Positioning, Messaging, Product Strategy, Lead Gen, Marketing Capabilities, Roadmap, Plan/Funnel, References, Quality, Performance, Collateral etc. Stability, Gaps etc. Copyright © Saeed Khan 2012
  19. 19. What is the ProductLifecycle? Copyright © Saeed Khan 2012
  20. 20. Product Lifecycle Stages End of Life Develop Maturity Decline Launch Growth Copyright © Saeed Khan 2012
  21. 21. Product Lifecycle OBJECTIVES Extend it Scale it Build it Milk it End it Nail it Copyright © Saeed Khan 2012
  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 2012
  23. 23. At each lifecycle stage, Product Management focus and objectives are different! Copyright © Saeed Khan 2012
  24. 24. Focus Areas vs. Lifecycle Objectives Copyright © Saeed Khan 2012
  25. 25. For any product, look at 1 stage at a time Copyright © Saeed Khan 2012
  26. 26. For any product, look at 1 stage at a time Copyright © Saeed Khan 2012
  27. 27. For any product, look at 1 stage at a time Copyright © Saeed Khan 2012
  28. 28. For any product, look at 1 stage at a time Copyright © Saeed Khan 2012
  29. 29. So what goes in the boxes?Questions that are importantto answer for each focus area for the current stage of the product lifecycle i.e. key business metrics  Copyright © Saeed Khan 2012
  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 2012
  31. 31. Rules for defining key “business metrics”• Define metrics to align with key goals and objectives for your product.• 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 2012
  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 2012
  33. 33. Creating a simple dashboard• CEOs like dashboards • Use traffic light model to indicate state of metric - on or ahead of plan - at risk of missing plan (must monitor) - behind plan, needs immediate attention Copyright © Saeed Khan 2012
  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 2012
  35. 35. Hypothetical Business Dashboard Copyright © Saeed Khan 2012
  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 2012
  37. 37. Go-to-Market Metrics Copyright © Saeed Khan 2012
  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 team 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 2012
  39. 39. Organizational Readiness Copyright © Saeed Khan 2012
  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 2012
  41. 41. Product Metrics Copyright © Saeed Khan 2012
  42. 42. Each metric is based on additional underlying data or information. Should be available ifneeded by Management. Copyright © Saeed Khan 2012
  43. 43. Updated dashboards as often as needed for business review. Quarterly or semi-annually is good for most companies. Copyright © Saeed Khan 2012
  44. 44. Why go through all this effort andpresent the product this way? Copyright © Saeed Khan 2012
  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 2012
  46. 46. …Because this is NOT what you want!! Copyright © Saeed Khan 2012
  47. 47. Product Management MetricsHow to truly manage yourproducts like a CEOJune 9, 2012Saeed KhanTwitter: @saeedwkhan, Copyright © Saeed Khan 2012