In May, Tom Evans introduced the topic of "What Product Marketing Can Do to Overcome the Eight Most Common Barriers to Accelerating Sales Revenue." The starting point for this is to understand target markets. Too much activity in Product Marketing is guided by assumptions, internal discussions, and anecdotal information. If we are serious about being great at Product Marketing, and delivering powerful tools for our sales and marketing teams, we must develop a deep (or dare I shall say intimate) understanding of our target markets. In this webinar, we'll show what you must learn about your target markets and how to do it. Key Takeaways: * Learn the 3 key points you must know about your target markets * Discover essential frameworks that will allow you to effectively describe your target markets to sales, marketing and executive management. * Understand how this understanding leads to great Product Marketing Who Should Attend: Anyone that is in a product marketing role, leads a product marketing team, or contributes to the product marketing process and is serious about becoming much more effective in their role. Participate and Win! Participants during Q&A are entered into a free drawing to win a $50 Amazon gift card, and one hour free product management assessment or consulting for the first 10 people that request it. Why Attend: In this webinar, you'll learn the starting point for great Product Marketing, how to develop this deep understanding of your target markets and the frameworks that you can use to communicate with your key constituents and develop effective sales and marketing tools. About the Speaker: Tom Evans is Principal at CompellingPM and is an internationally recognized authority in product management, global marketing, business partnerships and entrepreneurship. In his extensive experience, he has helped start-ups through Fortune 500 companies create and launch winning products and has led business development efforts in the US and global markets. Tom has a BSEE from The United States Air Force Academy, an MSEE from The University of Dayton, and graduated with honors with an MBA from The University of Texas at Austin. Tom has achieved the designations of Certified Product Manager and Certified Product Marketing Manager from the Association of International Product Marketing and Management (AIPMM).

1. How to Develop a Deep Understanding
of Your Target Markets - The Starting
Point for Great Product Marketing
Tom Evans
CompellingPM
@compellingpm
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2. Bad Product Marketing
• Not gaining a deep understanding of your
target markets!
– We have internal discussions about profiles and
needs of our buyers/user.
– We use anecdotal information that might come
from sales people or executives.
We fail to discover the real profiles and needs.
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3. Results of Bad Product Marketing
• Messages don’t resonate with target buyers
• Marketing and sales tools fail to motivate
buyers
• You don’t get good leads
• Sales people try to sell to the wrong people
for the wrong reasons
Then you wonder why your product isn’t selling
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4. Required Knowledge of Our Buyers
• Who they are
• Why they buy
• How they buy
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5. WHO THEY ARE
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6. Defining Personas
• Buyer & User Personas
• Personas are a representative buyer or user
(stereotypical)
• Can be multiple personas per buyer/user role
• Easy to visualize & understand
• Keeps us focused on their context
• Useful for product development & marketing
• Needs to be based upon research
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7. Typical Personas
• Executive Buyer (Economic Buyer)
– Interested in solving major business issues
– Has final approval authority
• Technical Buyer
– Does it meet certain criteria & expectations
– Can say no, but not yes
• Users
– Day-to-day user
– Wants to do their job better
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8. Knowing the Personas
• Key goals & challenges
• Job responsibilities & typical tasks
• Typical background (demographics, skills,
education, etc)
• Key problem scenarios
– What drives them to use your product
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9. Questions to Ask
• What are top of mind of issues for you?
• What are you most important job
goals/objectives?
• What does your typical day look like?
• What are the hardest and easiest things about
your job?
• What are your career goals?
• What do you like to do and not like to do – within
your job as well as personal activities?
• Also – consider observation
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10. WHY THEY BUY
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11. Why Executives Buy
• Key market trends & business drivers
• What must they do to compete, create a
competitive advantage, increase revenue, cut
costs, improve customer loyalty, etc.
• Establish company as a leader
• What is the ROI
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12. Why Middle Managers Buy
• Make their teams more effective
• Enable team members to spend time on more
valuable tasks
• Reduce costs of their operations
• Raise their visibility in the organization
• Advance in their career
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13. Why Users Buy
• Do their task more effectively
• Reduce time spent on mind-numbing activities
• Gain greater job satisfaction
• Increase financial rewards
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14. Why Technical Buyers Buy
• Raise their visibility in the organization and
industry
• Interesting and new challenge
• Career advancement
• What makes them say no?
– Doesn’t meet their standards
– Adds tasks to an already overloaded team
– More difficult solution than alternatives
– Can’t get the right resources
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15. HOW THEY BUY
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16. Generic Buying Process
Recognize Problem/Need
Information Search
Evaluation of Alternatives
Purchase Decision
Post-purchase Behavior
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17. Discovering the Buying Process
• What are the typical phases of the buying process?
• Who are the typical buyers & influencers?
• Who is involved at each phase?
• What are their main concerns at each phase?
• What are they doing at each phase?
• What are the typical barriers to moving ahead?
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18. Buying Process – Recognize Need
• What causes them to recognize this need?
• What compelled them to search for a
solution?
• Who makes the decision to begin looking for a
solution?
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19. Buying Process – Information Search
• Where do they begin their search for
information?
• What terms do they use?
• Why do they choose these sources v. others?
• Who are the respected thought leaders in their
industry?
• What information is/was most useful?
• What questions are they trying to answer?
• Who is involved in this process?
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20. Buying Process - Evaluation
• How do you decide which alternatives to
evaluate?
• What are the most important considerations for
the product and vendor?
• What are must haves? (Would eliminate an
alternative)
• What are the most important nice-to-haves?
• What key questions are you trying to answer?
• What are you biggest concerns?
• Who is involved?
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21. Buying Process – Purchase Decision
• Who is involved in the purchase decision?
• How do you conduct the final buying process?
• What are your key concerns?
• Who makes the final decision?
• How do you negotiate?
• What key information do you need from a
vendor?
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22. Buying Process – Post Purchase
• How do you evaluate the success of the
purchase?
• When do you make additional purchases?
• Who is involved?
• What are key considerations to continue the
relationship?
• What would it take for you to consider making
referrals/testimonials?
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23. How Do You Learn This
• Current Products
– Speak to customers
– Part of Win-loss analysis
• New Products
– Part of market validation process
• Engage Product Management
• Insights from Executives and Sales Team
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24. How Do You Use This?
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Messaging Platform
Messages targeted to
each buyer/user persona
Marketing Tools
Answers key questions by
buying phase
Targeted to right
buyer/influencer
Media & Programs
Targeted to where buyers
look for information
Sales Enablement
Sales communicate right
messages at right time to
right buyer
Understand Buyers & Users
Who They Are
Why They Buy
How They Buy

25. Summary
• Conduct research to understand your buyers
and users
• Use that knowledge to more effectively guide
your go-to-market strategy
• Achieve better focused and more effective
marketing tools, marketing programs and
sales execution
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26. My Next Webinar
From Messaging Nightmare to Messaging Delight
– How to Create a Powerful Messaging Platform
July 19, 2013
http://www.aipmm.com/aipmm_webinars
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27. Upcoming Training
• Optimal Product Management & Product
Marketing
– Sep 9 – 11 (Austin)
– Oct 14 – 16 (Dallas)
• AIPMM Certifications
– Aug 6 – 7 (CPM – Austin)
– Aug 8 – 9 (CPMM – Austin)
More dates/locations - www.280group.com
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28. 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)
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29. Thank You!
Tom Evans
CompellingPM
tevans@compellingpm.com
@compellingpm
www.compellingpm.com
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