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Great Requirements Form the Foundation for Successful Products

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Every once in a while, we start using a product that totally enchants us. We feel like it fits us perfectly and we never want to put it down or quit using it. It’s just that amazing.
What makes products like this so amazing? What is the secret ingredient? Is it the design and user experience (UX)? Is it a new technology that was used? Maybe it’s a new and innovative way for doing something? All of these elements are essential to making products that we love, but rarely do these elements happen without a strong foundation of excellent requirements.
Excellent requirements start with a “deep and intimate understanding” of our buyers and users in our target markets. Excellent requirements continue when we create a “shared understanding” of our buyers and users with those people who will design and develop the product.
In this webinar, Tom Evans will share ways to develop that deep and intimate understanding of buyers and users and then share techniques to communicate those requirements to enable the designers and developers to create amazing products.
Key Takeaways from participating in this webinar:
Understand how bad requirements can lead to bad products.
Learn multiple techniques for developing a deep understanding of your buyers and users.
Identify multiple techniques for communicating requirements to the solution development team to ensure that they understand the context of your target buyers and users.

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Great Requirements Form the Foundation for Successful Products

  1. 1. Great Requirements Form the Foundation for Successful Products Tom Evans CompellingPM @compellingpm Copyright 2013 - 2015. The Lûcrum Group, Inc. 1
  2. 2. DFW Product Group • DFW Product Group is the premier product management and marketing association in the Dallas/Fort Worth metroplex • 300+ active members • 2013 - 2015 roadmap includes webinar series, networking mixers, and ProductCamp DFW • Website: http://dfwproductgroup.org/ • LinkedIn: https://www.linkedin.com/groups?gid=2796125 • Twitter: @DFWProductGroup • Email: info@dfwproductgroup.org • Actively seeking new members, volunteers, and sponsors Copyright 2013 - 2015. The Lûcrum Group, Inc. 2
  3. 3. Special offer from CompellingPM at the end of the webinar. Copyright 2013 - 2015. The Lûcrum Group, Inc. 3
  4. 4. Great Requirements Form the Foundation for Successful Products Tom Evans CompellingPM @compellingpm Copyright 2013 - 2015. The Lûcrum Group, Inc. 4
  5. 5. Poll Question 1 What’s most important in making a great product? a) Amazing, cool features & design b) Awesome branding & advertising c) Unexpected surprises d) Avoids bad customer experiences e) Makes out life better f) Evokes emotions Copyright 2013 - 2015. The Lûcrum Group, Inc. 5
  6. 6. Not Great Marketing • David Ogilvy said: “Great marketing only makes a bad product fail faster.” Copyright 2013 - 2015. The Lûcrum Group, Inc. 6
  7. 7. How We Think About Products Product Hell Get’s Job Done Way Better Awesome Copyright 2013 - 2015. The Lûcrum Group, Inc. 7
  8. 8. How Do We Get to Awesome? Copyright 2013 - 2015. The Lûcrum Group, Inc. 8 Make lives “way” better “for all stakeholders”, in unexpected ways
  9. 9. How Do We Get to Awesome? Copyright 2013 - 2015. The Lûcrum Group, Inc. 9 Make lives “way” better “for all stakeholders”, in unexpected ways Compelling, singular value proposition Empathy for the user & buyer Craft the full customer experience
  10. 10. How Do We Get to Awesome? Copyright 2013 - 2015. The Lûcrum Group, Inc. 10 Make lives “way” better “for all stakeholders”, in unexpected ways Compelling, singular value proposition Empathy for the user & buyer Craft the full customer experience
  11. 11. PM2 Levers of Control™ Copyright 2013 - 2015. The Lûcrum Group, Inc. 11 Executional Levers Product •Define Whole Product •Effective Requirements Price •Value-Based Pricing Place (Channel) •Sales Tools •Sales Enablement •Channel Programs Promotions •Product Marketing Tools & Content •Product Marketing Programs Go-to-Market Strategy Target Markets Positioning Competitive Strategies Messaging Platform Alignment to Business Drivers Market Analysis VOC Competitive Analysis Ecosystem Analysis
  12. 12. DEEP UNDERSTANDING OF OUR CUSTOMERS Copyright 2013 - 2015. The Lûcrum Group, Inc. 12
  13. 13. Deere “The mantra at Deere in recent times for all new product development programs has been 'DCU/DCV' Deep Customer Understanding Deliver Customer Value” Copyright 2013 - 2015. The Lûcrum Group, Inc. 13 Nikhil Bhagath, On Quora
  14. 14. P&G “At the core of our strategy was the belief that the customer was the boss, and I pretty much turned the organization chart upside down and put myself at the bottom and put the customer at the top.” AG Lafley, CEO, Procter & Gamble Copyright 2013 - 2015. The Lûcrum Group, Inc. 14
  15. 15. Drucker The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Peter Drucker
  16. 16. Deep Understanding of Customers • Who they are – Personas • Why they buy – Problems they want to solve • How they buy – What is their buying process – Where do they look Copyright 2013 - 2015. The Lûcrum Group, Inc. 16 June 11 Webinar http://compellingpm.com/developing-a-deep-understanding-of-your-target-markets- the-starting-point-for-great-product-management-marketing/
  17. 17. Don’t Ask What They Want! “If I had asked people what they wanted, they would have said faster horses.” Copyright 2011 - 2013 - LÛCRUM
  18. 18. What Do They Want To Do? “People don't want to buy a quarter-inch drill. They want a quarter-inch hole!” –Theodore Levitt Copyright 2011 - 2013 - LÛCRUM
  19. 19. Customer Journey Maps • “All Activities” when engaging with your product • What are their motivations? • What questions might they have? • What barriers might reduce the customer experience? Copyright 2013 - 2015. The Lûcrum Group, Inc. 19
  20. 20. Discover Personal Needs Copyright 2011 - LÛCRUM
  21. 21. All Stakeholders • Strategic/Financial (Executives) • Operational (Managers) • Task Performers (Front-line) • All levels: Corporate, Business Units, Regional, Etc • Internal/External Copyright 2013 - 2015. The Lûcrum Group, Inc.
  22. 22. COMMUNICATING REQUIREMENTS Copyright 2013 - 2015. The Lûcrum Group, Inc. 22
  23. 23. Requirements Requirements are about creating understanding Copyright 2013 - 2015. The Lûcrum Group, Inc. 23 Requirements Product Development & Delivery Customer Context
  24. 24. Whole Product • Delivers expected customer value + • Makes product easier to buy and to use • Based upon customer journey map Copyright 2013 - 2015. The Lûcrum Group, Inc. 24
  25. 25. Requirements Communicate Context • Personas – Key stakeholders • Problem Scenarios – Context of the problems they have • Market Needs – Tasks & activities they need to accomplish – Barriers they need to avoid or overcome Copyright 2013 - 2015. The Lûcrum Group, Inc. 25Copyright 2013 - 2015. The Lûcrum Group, Inc.
  26. 26. PRODUCT STRATEGY Copyright 2013 - 2015. The Lûcrum Group, Inc. 26
  27. 27. No Product Strategy = http://www.wengerna.com/giant-knife-16999
  28. 28. Create a Profitable Product Strategy!
  29. 29. Go-to-Market Drives Product Strategy Copyright 2013 - 2015. The Lûcrum Group, Inc. 29 Strategies for Your 4Ps Product Strategy Pricing Strategy Channel Strategy Promotional Strategy Go-to-Market Strategy Target Markets Positioning Competitive Strategies Messaging Platform Alignment to Business Drivers
  30. 30. BAD PRODUCT EXAMPLES Copyright 2013 - 2015. The Lûcrum Group, Inc. 30
  31. 31. Really? "Customers fly on regional aircraft all the time when they can't stand up in the lavatory. They handle that just fine.“ Daniel Shurz, Frontier's chief commercial officer The new cabin layout will allow the low-cost airline to add 12 additional seats to each Airbus A320s and A319s by the end of this year. This will allow Frontier to seat 180 passengers on an A320 compared to United plane that will have 150 seats. Copyright 2013 - 2015. The Lûcrum Group, Inc. 31
  32. 32. Lacking Some Empathy Copyright 2013 - 2015. The Lûcrum Group, Inc. 32 Zodiac Seats France We don't believe there are good market opportunities for this idea," says Mark Hiller, CEO of Recaro Aircraft Seating, one of the world's major suppliers of commercial airplane passenger seats. "From our point of view, passengers will not accept to travel that way. Even if such a seat would pass certification tests, we would see it as a great sacrifice for passengers in terms of comfort and living space, even for very short flights."
  33. 33. Who’s the Boss? Copyright 2013 - 2015. The Lûcrum Group, Inc. 33 http://www.treehugger.com/aviation/standing-seats-on-airplanes-are-a-no-fly-zone.html
  34. 34. What Customers Want to Do? Copyright 2013 - 2015. The Lûcrum Group, Inc. 34
  35. 35. What’s the Problem Scenario Copyright 2013 - 2015. The Lûcrum Group, Inc. 35 Netflix designed profiles to be simple, eschewing ideas like a password protection. It also said the idea wasn't related to uncovering accounting sharing, when people cooperatively pool an account even if they don't live in the same household. "Our intent is to make the family experience great, How many have young kids and don’t want them to enter your profiles?
  36. 36. GOOD PRODUCT EXAMPLES Copyright 2013 - 2015. The Lûcrum Group, Inc. 36
  37. 37. United Airlines Flight to Chicago Typical Airline Flight • Flight attendants pass through once with drinks • Spend much of flight in galley chatting • Pick up trash by going from back to front This Chicago Flight • Flight attendants pass through multiple times with drinks • Pass from front to back to pick up trash • Were friendly and engaging Copyright 2013 - 2015. The Lûcrum Group, Inc. 37
  38. 38. Which Really Understands Customers Copyright 2013 - 2015. The Lûcrum Group, Inc. 38
  39. 39. What Problem Does This Solve? Copyright 2013 - 2015. The Lûcrum Group, Inc. 39
  40. 40. How is This For Empathy Copyright 2013 - 2015. The Lûcrum Group, Inc. 40 https://www.flickr.com/photos/jgm/678028550/
  41. 41. How Do We Get to Awesome? Copyright 2013 - 2015. The Lûcrum Group, Inc. 41 Make lives “way” better “for all stakeholders”, in unexpected ways Compelling, singular value proposition Empathy for the user & buyer Craft the full customer experience
  42. 42. PM2 Levers of Control™ Copyright 2013 - 2015. The Lûcrum Group, Inc. 42 Executional Levers Product •Define Whole Product •Effective Requirements Price •Value-Based Pricing Place (Channel) •Sales Tools •Sales Enablement •Channel Programs Promotions •Product Marketing Tools & Content •Product Marketing Programs Go-to-Market Strategy Target Markets Positioning Competitive Strategies Messaging Platform Alignment to Business Drivers Market Analysis VOC Competitive Analysis Ecosystem Analysis
  43. 43. Introduction Copyright © The Lûcrum Group, Inc. 43
  44. 44. Go-to-Market Webinar Series http://compellingpm.com/go-to-market-webinar-series-with-dfw-product-group/ Webinar Title Date The Strategic Role of Product Management & Product Marketing in Driving Product Revenue & Success Apr 23 Developing a Deep Understanding of Your Target Markets – The Starting Point for Great Product Marketing June 11 Define a Powerful Go-to-Market Strategy That Sets Your Product Apart June 25 Great Requirements Form the Foundation for Successful Products July 16 Profitable Products Sell Value: Why Value-Based Pricing Wins August 13 From Messaging Nightmare to Messaging Delight: How to Create a Powerful Messaging Platform Sept Create Effective Sales & Marketing Tools That Actually Get Used By Sales & Prospects Oct Nothing Happens Until Someone Sells Something: Enabling Your Sales Channel to Success Nov Driving the Marketing and Sales Funnel to Close Deals: What Product Marketers Must Know and Do Dec Copyright 2013 - 2015. The Lûcrum Group, Inc. 44
  45. 45. Next Webinar • Profitable Products Sell Value: Why Value-Based Pricing Wins August 13, 2015 Copyright 2013 - 2015. The Lûcrum Group, Inc. 45 http://compellingpm.com/go-to-market-webinar-series-with-dfw-product-group/
  46. 46. Upcoming Austin PM2 Training • Optimal Product Management & Product Marketing – Sep 21 – 23 – Dec 7- 9 • AIPMM Certifications – Certified Product Manager (CPM) – Feb 16 – 17 More dates/locations - www.280group.com Copyright 2013 - 2015. The Lûcrum Group, Inc. 46
  47. 47. Free 1 Hour PM/PMM Consult • First ten to submit information on form • http://compellingpm.com/freeonehour/ • Please include background on topic or issue • Must include company info (no Gmail) Copyright 2013 - 2015. The Lûcrum Group, Inc. 47
  48. 48. Thank You! Tom Evans CompellingPM tevans@compellingpm.com @compellingpm www.compellingpm.com Copyright 2013 - 2015. The Lûcrum Group, Inc. 48

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