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Driving Revenue through World Class Messaging and Positioning


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Driving Revenue through World Class Messaging and Positioning by Russell Scherwin at Silicon Valley Product Managers Camp 2012

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Driving Revenue through World Class Messaging and Positioning

  1. 1. Powering Revenue Growththrough Compelling MessagingRussell
  2. 2. Themes • Correlating PM / PMk activity to revenue • World-class messaging and positioning • Translating segmentation into revenue process optimization Disclaimer: My opinions are my own, not those of my employer.2 @rscherwin
  3. 3. Introductions • What role do you play? • What role do you play? (in the eyes of a revenue focused executive) – Product Development? – Revenue Support – Product Management? – Revenue Enablement – Product Marketing? – Revenue Protection – Sales? – Direct Sales – Dead Weight3 @rscherwin
  4. 4. What does the CEO think?4 @rscherwin
  5. 5. Product Messaging is Bridge Building5 @rscherwin
  6. 6. Which pitch is more effective We provide multi-channel selling technology that helps our customers drive value by increasing revenues, while decreasing cost, through integrated data semantics, within a multi-channel multi-dimensional database model.6 @rscherwin
  7. 7. Which pitch is more effective We provide multi-channel selling software. For example, we helped Best Buy achieve an integrated view of customers, orders and inventory across all sales channels, improving average revenue per transaction, customer loyalty, and cost of sales7 @rscherwin
  8. 8. Which pitch is more effective We seamlessly manage the secure flow of information across organizational, departmental, legislative, and system boundaries8 @rscherwin
  9. 9. Which pitch is more effective We provide secure data movement technology. For example, we partnered with the Federal Reserve to secure payments across our financial system.9 @rscherwin
  10. 10. Which pitch is more effective Would the Federal Reserve pitch work if delivered to Coca-Cola?10 @rscherwin
  11. 11. What if I don’t have a reference customer? Get one.11 @rscherwin
  12. 12. Before you do traditional marketing tasks, know where you are in your product’s life-cycle Find a new job Scale base Build base PM/PMk’s job is scaling out the revenue process. If you’re too early, you have nothing to scale.12 @rscherwin
  13. 13. World-class Messaging and Positioning
  14. 14. Position is the space you occupy in your audience’s mind • The message creates a position Sales • A Message Foundation is a Website Customers necessary organizational catalyst, governance mechanism, and scale lever for Message all outbound communication Foundation • Effective messages must always Analysts Partners be audience tailored – each audience starts with different Press cares and biases14 @rscherwin
  15. 15. Crisp Messaging Creates a Winning Position15 @rscherwin
  16. 16. Messaging and positioning How do you breathe action into your message? • Position is the space the message occupies in the mind of the audience, relative to other messages (don’t become noise!) • A world-class message drives action and business outcomes • Messaging is the start of the revenue process. It’s measurable! • You control the message. Its delivery determines position. • Typically, channels communicates the message, not you.16 @rscherwin
  17. 17. Messaging through (and to) Sales
  18. 18. Marketing is sales in the aggregate but don’t forget that the aggregate doesn’t have a checkbook • PMk starts with the product. Sales starts with the audience. • Sales sells to individuals. Marketing sells to markets. • Segmentation and focus is the secret. • The trick is finding the balance between scale and granularity Means & Message Math & Management Market • Define expected Medium • Manage and • Identify and segment • Create Models execute prioritize behaviors • Define metrics by ruthlessly product/market • Define message segment • Continually hone segments by segment • Cascade metrics model • Create to channel • Provide enablement and mediums backwards assets feedback18 @rscherwin
  19. 19. Elements of world-class sales messaging • Relevant • Differentiated • Defensible19 @rscherwin
  20. 20. Elements of world-class sales messaging Relevance • Relevant to the audience • Industry Segment Specific • Product Ownership Specific (customer or prospect) •Sales needs to know why a Title Specific • specific title in a specific Psychographic Specific segment would agree to spend • Differentiated a specific dollar amount on • Defensible this offering20 @rscherwin
  21. 21. Elements of world-class sales messaging Differentiation • Relevant • Differentiated from the competition – What is unique about your offering – Sales needs the ability to What makes you or your offering stand out articulate why their offering is – Feature/Function arrows for sales to throw in the heat of battle – The ideal decision criteria that identifies the competitive land-mines unique, relative to others vying they should set early in the sales cycle for the target’s attention • Defensible21 @rscherwin
  22. 22. Elements of world-class sales messaging Defensibility • Relevant • Differentiated Sales • Defensible needs credibility. – Assume you start with little credibility – Credibility comes from references with similar business Up-front credibility models/challenges – Or reduces cycle time and – Credibility comes through tedious cycle proof steps competitive threats.22 @rscherwin
  23. 23. Your customer is the value chain’s next step In a multi product-line organization, you are selling to and competing for the attention of the sales force.23 @rscherwin
  24. 24. The sales force is its own market! • Enablement Secret “B” and “A” Reps “C” reps24 @rscherwin
  25. 25. Field Enablement Pre-Requisites What PM and PMk needs to understand • Identify and prioritize buying segments, and the process, roles, skills, and gaps that exist for selling into them. – Outline sales process activities for each segment • (identify, qualify, prove, reach agreement, close) – Link activities to roles and resource requirements • (AE, SE, PS, Mgmt, Channels, Demo Team, Support, Contracts, etc) – Identify skills and artifacts required by role – Identify and fill gaps for effectively selling into prioritized segments – Deliver sales kits for prioritized segments, containing #3 and #4 – Create measurement metrics and goals by buying segment25 @rscherwin
  26. 26. Sales plays focus the field on execution Sales should execute, not recreate messaging wheels • For each prioritized segment: – Identify titles to target and reasons why key capabilities benefit them – Describe the Challenges / Opportunities / Compelling Events / Trends that your capabilities address that trigger opportunities – Key quantifiable value components with a concept of how to derive an as-is state that your product capabilities improve • Most important are the capabilities that differentiate versus the competitive landscape, and their relative value – Qualifying Questions with tree showing probable answers and follow ups – Product launch details (special offers, contracts / LOI’s, potential hurdles and gotchas, etc) – Call scripts, VITO notes, and – “Macro-Attack plans are created at a macro-level and account level • Who do you target • Hypothesis of – The Pains / Challenges / Opportunities they have that we address – How we have address them – Anecdotes telling the story of how we address them26 @rscherwin
  27. 27. Mistakes commonly made by product marketers • Task orientation, rather than results orientation • Allowing executives and their opinions to play pinball with you. – Push back. – But know the market better – be the expert. – Team with the A reps. Leaders trust them, and they make more $$$ than them. • Not identifying and prioritizing segments that drive revenue • Not identifying and prioritizing channels that drive revenue27 @rscherwin