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AIPMM Webcast: Importance & Role Of Product Management To Your Company's Success
The document presents a webinar by Brian Lawley on optimal product management and marketing, highlighting the common pitfalls in product development and the importance of effective management processes. It outlines seven common problems companies face, such as misalignment and lack of product leadership, and discusses the seven-phase product lifecycle. Additionally, it offers insights into the role of product management and marketing, emphasizing the critical documents and tools necessary for successful product management.
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AIPMM Webcast: Importance & Role Of Product Management To Your Company's Success
- 1. October 3, 2012 AIPMM Webinar Series www.aipmm.com © AIPMM 2012
- 2. © AIPMM 2012 http://www.aipmm.com
- 3. Today’s Speakers Moderator: Cindy F. Solomon, CPM, CPMM Host, Global Product Management Talk Monthly Startup Product Talks Annual Startup Product Summit Twitter: @cindyfsolomon @prodmgmttalk @startupproduct Presenter: Brian Lawley, CEO and Founder of the 280 Group © AIPMM 2012 @AIPMM #prodmgmt http://www.aipmm.com
- 4. FEATURED PRESENTATION © AIPMM2012 http://www.aipmm.com
- 5. Optimal Product Managementand Product MarketingTM Brian Lawley 280 Group CEO & Founder How Product Management Can Make or Break Your Company © 2012 280 Group www.280group.com
- 6. Housekeeping •Questions • Slides: www.280group.com/product-management-importance.pdf • Giveaways at end – Product Management LifeCycle Toolkit™ – One copy of each book © AIPMM 2012 6
- 7. Optimal Product ProcessBook! - Everyone Gets a Copy - Please share! - http://tinyurl.com/freeoppbook - Seven Phase Product LifeCycle - CPM materials © AIPMM 2012 7
- 8. 280 Group WebsiteResources © AIPMM 2012 • 8
- 9. Agenda Background • Seven Most Common Problems • How Product Management Solves These • Seven Phase LifeCycle • Optimal Product Process • Nine Key Documents • How to Optimize at Your Company • Questions & Giveaway
- 10. Helping companies deliverproducts that delight their ™ customers and produce massive profits Assessment – Training – Certification – Consulting – Contractors – Templates – Mentoring – Books © AIPMM 2012
- 11. Why The 280Group? © AIPMM 2012 11
- 12. 280 Group Clients ©AIPMM 2012
- 13. Product & Services Product Toolkits Workshops, Training Consulting Management PM Office Coaching & Certification Contractors Assessments Portal Mentoring PM Assessments Courses: We Provide: Templates: Available for: • Process/People/Tools - Public • Product Managers - Product Lifecycle •Teams • Gap Analysis - Private Onsite • Product Marketers - Launches •Projects • Recommendations - Self-Study • Projects - Roadmaps •Individuals • Executive Presentation • Interim Contractors - Competitive Certifications: - Beta Programs Topics: - Certified Product Manager - Product Reviews • PM Process - Agile Certified Product Manager - Developer • Market Research • Competitive Research Course Offerings: PM Office: • Voice of the Customer • Vision - Optimal PM & PMM - Standard • Conceive - Phenomenal PM - Pro • Business Case - Agile PM Excellence • Market Strategy - CPM Intensive Books: • Requirements - Social Media Marketing - Agile • Prioritizing - Phenomenal • Road mapping - Excellent • Pricing - 42 Rules • Forecasting - Optimal Product • Metrics • Beta Process • Marketing • End of Life PM Portal • Agile 1 3 © AIPMM 2012
- 14. Agenda • Background Seven MostCommon Problems • How Great Product Management Solves These • Seven Phase LifeCycle • Optimal Product Process • Nine Key Documents • How to Optimize at Your Company • Questions & Giveaway
- 15. Product Failure Statistics Succee d • 30% fail because of a poor value proposition • 70% fail because of poor customer requirements Fail © AIPMM 2012 15
- 16. Why Products Fail WrongProduct Ineffective Marketing • Didn’t meet market needs • Poor marketing & PR • Not clear who the customer was • No clear value proposition • Wasn’t viable • Incorrect pricing • Not competitive • Wrong channel(s) • Costs too high • Product incongruent with brand • Need not urgent • Customer not willing to pay • Not enough customers Poor Execution Company Management • Technology used • Technology driven • Funding • Sales driven • Operations • Lack of effective teamwork or PM process • Sales • Downplaying competitor’s strengths • Underestimating time, budget, effort, etc. • Dysfunctional corporate culture • Solution didn’t solve the problem • Rush to failure (Quality, Technology, Usability) © AIPMM 2012 16
- 17. 7 Common Problems280 Group Sees at Companies • Data collection: – Hundreds of companies – Fourteen years – All industries • Patterns across all products/markets/industry • Result: – Products suffer – Profitability lower than it could be – Low morale & stress – Company suffers © AIPMM 2012 17
- 18. 1. Wrong Productsand/or Features • Lack of clarity on market & customer needs • Products that customers don’t want/won’t pay for • Expensive resources wasted • Opportunity cost for viable products • Complete product failures © AIPMM 2012 18
- 19. 2. Whole ProductNot Delivered – No one in charge of all elements – Each group optimizes for their own goals – Customer has a bad experience – Product & brand suffer – Loss of repeat business – Reputation © AIPMM 2012 19
- 20. 3. Lack ofAlignment • Confusion about target customer/market • Executives/Sales/Marketing/Engineering pursue different agendas and tactics • Efforts not coordinated • Results minimized or complete failure © AIPMM 2012 20
- 21. 4. Process: None,Too Much or Confusion Repeatability Optimizing •Causal analysis and Measured resolution •Identify and deploy •Performance goals process improvements Defined measured for process and projects •Organizational process Managed defined •Product integration •Project process •Integrated project Ad hoc defined management •Requirements •Validation/Verification •Unpredictable Management •Reactive •Quality assurance •Heroics •Still tends to be reactive Efficiency © AIPMM 2012 Source: Carnegie Mellon SEI CMMI 21
- 22. 5. Lack ofProduct Leadership • Not clear where the buck stops • Suboptimal decisions • Product design by committee • Lack of Vision • Leader(s) may not have full range of skills: – Business – Technical – People – Strategy • Result: Mediocre products © AIPMM 2012 22
- 23. 6. Tactical Reactionvs. Strategic Plans • No one in charge driving strategy • Day to day fire drills consume employee’s time • Gives competitor opportunities • Leaves money on the table © AIPMM 2012 23
- 24. 7. Lack ofRole Clarity • Democracy • Stress • Wasted time • Politics • Products suffer © AIPMM 2012 24
- 25. Agenda • Background • SevenMost Common Problems How Great Product Management Solves These • Seven Phase LifeCycle • Optimal Product Process • Nine Key Documents • How to Optimize at Your Company • Questions & Giveaway
- 26. Unique Position • Centralpoint of communication Sales • Drive the vision & Press/Analysts Customers strategy Marketing Support • Whole product • Roadmap/requiremen Engineering PM Channel ts Partners Operations • Lead all groups Executives © AIPMM 2012 26
- 27. Role: Product Management •Market expert • Feature, schedule, and cost – Customer and market research tradeoffs – Identifies customer needs – Minimum Viable Product – Voice of the customer • Brings products to market • Strategic – Valuable and differentiated – Owns vision and roadmap – Whole product definition – Portfolio management – Beta programs – Manages product lifecycle – Market plan realization – Bridges engineering and • Manage relationships with marketing business ecosystem members • Business Case development and – Coordinating internal value realization chain • Presents “needs” – Suppliers, partners, and 3rd party vendors – Not the problem solver – Does not design features © AIPMM 2012 27
- 28. Role of ProductMarketing • Marketing expert • Supports sales – Competitive analysis – Demand generation – Sales tools and training – Ensures consistency of – Compelling reason to messages across media buy – Product pricing • Guides marketing – Works with MarCom programs – Balance revenues with • Strategic program costs – Success in the market – Positioning, value – Launches new products proposition, messaging, feature/benefits, unique and on-going marketing selling proposition © AIPMM 2012 28
- 29. Product Manager vs.Product Marketer • Product Management – Ensuring delivery of valuable customer-focused product • Product Marketing Manager – Ensuring demand for the product in the marketplace • Roles can vary by company – Smaller companies may combine roles – Larger companies usually have separate roles • These are guidelines not absolutes © AIPMM 2012 29
- 30. Agenda • Background • SevenMost Common Problems • How Great Product Management Solves These Seven Phase LifeCycle • Optimal Product Process • Nine Key Documents • How to Optimize at Your Company • Questions & Giveaway
- 31. Seven Phase LifeCycle™ • Phase: Stage in the product lifecycle • Gate: Critical decision point ending a phase, and starting the next • Product LifeCycle: phases from conceive to retire One Phase Gate Conceive Plan Develop Qualify Launch Market Retire Source: AIPMM 2012 © AIPMM 31
- 32. Worldwide Standard Foundation • Association of International Product Management & Marketing (AIPMM) • Strategic partnership • Further profession © AIPMM 2012
- 33. Conceive Phase • Brainstorm • Generate ideas • Prioritize • Choose © AIPMM 2012 33
- 34. Plan Phase • Strategy • Market Research • Competitive Analysis • Business Case • Market Needs • Product Description • Roadmap © AIPMM 2012 34
- 35. Develop Phase • Engineering • Tradeoffs • Adjustments – Schedule – Feature – Plans © AIPMM 2012 35
- 36. Qualify Phase • Internal • Beta • Early Customer • Minor Adjustments © AIPMM 2012 36
- 37. Launch Phase • Announcement • Availability • Exposure • Ramp Revenues © AIPMM 2012 37
- 38. Market Phase • Ongoing Programs • Measure ROI • Optimize © AIPMM 2012 38
- 39. Retire Phase • End of Life • New Version • Obsolescence © AIPMM 2012 39
- 40. Agenda • Background • Seven Most Common Problems • How Great Product Management Solves These • Seven Phase LifeCycle Optimal Product Process • Nine Key Documents • How to Optimize at Your Company • Questions & Giveaway
- 41. 280 Group OptimalProduct Process™ © AIPMM 2012 41
- 42. Agenda • Background • Seven Most Common Problems • How Great Product Management Solves These • Seven Phase LifeCycle • Optimal Product Process Nine Key Documents • How to Optimize at Your Company • Questions & Giveaway
- 43. Optimal Product ProcessTemplates © AIPMM 2012 43
- 44. Product Management LifeCycleToolkit™ • Nine core documents • No duplication • Every critical decision/analysis point covered • High productivity • Course foundation • Continuous improvement © AIPMM 2012
- 45. Agenda • Background • Seven Most Common Problems • How Great Product Management Solves These • Seven Phase LifeCycle • Optimal Product Process • Nine Key Documents How to Optimize at Your Company • Questions & Giveaway
- 46. Applying Optimal ProductProcess • Do a FULL assessment • Process – Current – Gap analysis – Strengths – Weaknesses • People – Skill set – Role clarity – Organization – Training – Certification(s) • Tools – Standardized – Productivity – Continuous improvement © AIPMM 2012 46
- 47. How the 280Group Can Help • Perform full assessment with recommendations • Plan for implementing improvements: – Process – People – Tools • Training & certifications • Corresponding templates & tools • Coaching/mentoring company/team/individuals © AIPMM 2012 47
- 48. Upcoming Courses • San Jose, CA • Austin, TX • McLean VA • New York, NY • Toronto, Canada • Europe • Courses: – Optimal Product Management & Product Marketing – Certified Product Manager Intensive Prep & Exam – Agile Product Management Excellence © AIPMM 2012 48
- 49. Drawing •Optimal Product Process: http://tinyurl.com/freeoppbook • One copy of each book • Product Management LifeCycle Toolkit™ contact@280group.com (408) 834-7518 © AIPMM 2012 49
- 50. Optimal Product Managementand Product MarketingTM Questions & Giveaway © 2012 280 Group www.280group.com
- 51. Please Join UsAgain! AIPMM Webinars Oct 12 From Idea to Reality with Glen Lipka,VP UX, Marketo Oct 19 Developing A Compelling Business Case Product Talk Podcast & Twitter Chat #ProdMgmtTalk Mondays Oct 15 Teresa Torres on Writing User Stories Listen http://www.blogtalkradio.com/prodmgmttalk More http://www.prodmgmttalk.com Newsletter: http://www.aipmm.com/subscribe LinkedIn: http://www.linkedin.com/company/aipmm Membership: http://www.aipmm.com/join.php Certification: http://aipmm.com/html/certification/ © AIPMM 2012 @AIPMM http://www.aipmm.com