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The Rise of the SaaS
   Product Manager
Why Product Management Is More Important Than Ever!


                     Tom Evans
                  Lûcrum Marketing
                   @compellingpm
Discussion Agenda


• What Product Management Isn’t
• What Is Product Management?
• Product Management Practices in Saas Companies
This Isn’t Product Management

                                                • So what you do is you take the
                                                  specifications from the
                                                  customers and you bring them
                                                  down to the software
                                                  engineers?
                                                • That, that's right.
                                                • Well, then I gotta ask, then
                                                  why can't the customers just
                                                  take the specifications directly
                                                  to the software people, huh?
                                                • Well, uh, uh, uh, because, uh,
                                                  engineers are not good at
                                                  dealing with customers.
          http://www.luminomagazine.com/mw/storyimages/1021_wide.jpg
These Aren’t Product Management Either


• PM sits in office and determines what they think the
  customer wants.
• PM creates thick requirements document and expects that
  engineering has all of the information they need.
• PM collects all requirements and gets cross-functional team
  to prioritize.
• PM only writes technical specs and tries to tell engineering
  how to do their job.
What is Product Management?



    “Product Management ensures the
   company delivers products that are
 valuable for the customer, company and
  partners throughout the entire product
                 lifecycle”
Managing Throughout the Product Lifecycle
What Does Product Management Do?

•   Conduct market & competitive research
•   Solicit, validate and clarify requirements from stakeholders
•   Develop business case for major product investments
•   Create product strategy and communicate requirements
•   Define and defend the product positioning
•   Prioritize/order requirements (User Stories)
•   Validate resulting product with market
•   Support marketing, sales team, channel (sales tools)
•   Communicate clear & consistent market messages.
•   Help achieve key business metrics
Most Important Aspect of Product Management


  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




  Discover Market Needs That are Worthy of Solving!
Discovering/Understanding Market/User Needs


• User communities /      •   Win/Loss analysis
  user groups             •   Social media
• Usage analytics         •   Competitive analysis
• A/B testing             •   Support issues
• Feature requests        •   Industry analysts
• Product advisory        •   Potential customers
  committees              •   RFPs
• Customer calls/visits   •   Etc.
Balancing Needs of Multiple Constituents

                                The role of a product
                                manager is to serve as a
                                communications "hub" for
                                a publisher's
                                software, coordinating the
                                different and frequently
                                conflicting wishes, needs
                                and priorities of
                                development, sales, mark
                                eting and customers. –
                                Merrill R. (Rick) Chapman
                                (2004)
                                   http://www.amazon.com/review/R3SJS38JIQMU8L
Creating a Profitable Product Strategy!
Product Management Practices for SaaS


•   Define and improve key product metrics
•   Create dynamic interactions with customer community
•   Align customer feedback with product strategy
•   Represent customers with development
•   Apply usage analytics appropriately
•   Create buzz around new capabilities
Improve Key Product Metrics


• Metrics that drive your business model (e.g.)
  – Conversion ratios/times
  – Usage statistics
  – Net Promoter Score®
  – Support issues
  – Implementation time
  – Time to usage
  – Cost of Acquisition
  – Etc.
Dynamic Interactions with Community


•   Participate in the conversation
•   Actively solicit feedback
•   Present new ideas for feedback
•   Develop consensus
•   Identify customers for working groups
•   Build buzz about new features, capabilities, etc.
Represent Customers with Development


• User Stories are a start of a conversation around a need to
  be met.
   – Elaborate via a grooming process
   – Engage customer working groups to elaborate
     requirements
• Regularly demonstrate working software to customer
  working groups (after each iteration)
• Give customer working group first access to final version
Align Customer Feedback with Strategy


• Case Study - Mint.com
• Many users requesting Quicken/MS Money type features.
• Not their value proposition, not their target market
• Clearly understood their key user persona & thus their
  product strategy.
• What if they had responded to customer requests (not
  their target market, would have changed their positioning,
  etc.)
Apply Usage Analytics


• Application of analytics depends on user interaction
   – How often and how complex of interaction
• Simple workflows
   – Analytics provide valuable insight
   – Easy to do A/B testing
• Complex interactions
   – Analytics is an important indicator, but in and of itself is
     not usually sufficient
   – Must understand context via customer discovery
Create Buzz Around New Capabilities


• Challenge: no major launch events to build buzz
• Active participation in online community and other
  online/social media
• Plan schedule of new capabilities to create bundles that
  synergistically increase customer value
• Make major announcements around bundle of new
  capabilities
Characteristics of a Successful Product Manager


• Passionate about understanding market needs
• Engages well with customers & non-customers at all levels
• Provides leadership (vision, strategy) for their products
• Works well with and develops respect with all parts of the
  organization
• Understands how their product supports corporate
  strategy, goals, objectives
• Delivers requirements to development supported by
  market evidence
Acknowledgements


• Tom Hale, Chief Product Office, HomeAway
• Erik Huddleston, Executive VP, Products and CTO, Dachis
  Group
• Audrey Montgomery, Senior PM – SaaS Products,
  Blackbaud (Convio)
• Denny Lecompte, VP – Products, SolarWinds
Thank You!



                      Tom Evans
                   Lûcrum Marketing
             tevans@lucrum-marketing.com
                   +1.512.961.5267
                    @compellingpm




                    Copyright 2012 - LÛCRUM MARKETING

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The Rise of the SaaS Product Manager - Why Product Management is More Important Than Ever

  • 1. The Rise of the SaaS Product Manager Why Product Management Is More Important Than Ever! Tom Evans Lûcrum Marketing @compellingpm
  • 2. Discussion Agenda • What Product Management Isn’t • What Is Product Management? • Product Management Practices in Saas Companies
  • 3. This Isn’t Product Management • So what you do is you take the specifications from the customers and you bring them down to the software engineers? • That, that's right. • Well, then I gotta ask, then why can't the customers just take the specifications directly to the software people, huh? • Well, uh, uh, uh, because, uh, engineers are not good at dealing with customers. http://www.luminomagazine.com/mw/storyimages/1021_wide.jpg
  • 4. These Aren’t Product Management Either • PM sits in office and determines what they think the customer wants. • PM creates thick requirements document and expects that engineering has all of the information they need. • PM collects all requirements and gets cross-functional team to prioritize. • PM only writes technical specs and tries to tell engineering how to do their job.
  • 5. What is Product Management? “Product Management ensures the company delivers products that are valuable for the customer, company and partners throughout the entire product lifecycle”
  • 6. Managing Throughout the Product Lifecycle
  • 7. What Does Product Management Do? • Conduct market & competitive research • Solicit, validate and clarify requirements from stakeholders • Develop business case for major product investments • Create product strategy and communicate requirements • Define and defend the product positioning • Prioritize/order requirements (User Stories) • Validate resulting product with market • Support marketing, sales team, channel (sales tools) • Communicate clear & consistent market messages. • Help achieve key business metrics
  • 8. Most Important Aspect of Product Management 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 Discover Market Needs That are Worthy of Solving!
  • 9. Discovering/Understanding Market/User Needs • User communities / • Win/Loss analysis user groups • Social media • Usage analytics • Competitive analysis • A/B testing • Support issues • Feature requests • Industry analysts • Product advisory • Potential customers committees • RFPs • Customer calls/visits • Etc.
  • 10. Balancing Needs of Multiple Constituents The role of a product manager is to serve as a communications "hub" for a publisher's software, coordinating the different and frequently conflicting wishes, needs and priorities of development, sales, mark eting and customers. – Merrill R. (Rick) Chapman (2004) http://www.amazon.com/review/R3SJS38JIQMU8L
  • 11. Creating a Profitable Product Strategy!
  • 12. Product Management Practices for SaaS • Define and improve key product metrics • Create dynamic interactions with customer community • Align customer feedback with product strategy • Represent customers with development • Apply usage analytics appropriately • Create buzz around new capabilities
  • 13. Improve Key Product Metrics • Metrics that drive your business model (e.g.) – Conversion ratios/times – Usage statistics – Net Promoter Score® – Support issues – Implementation time – Time to usage – Cost of Acquisition – Etc.
  • 14. Dynamic Interactions with Community • Participate in the conversation • Actively solicit feedback • Present new ideas for feedback • Develop consensus • Identify customers for working groups • Build buzz about new features, capabilities, etc.
  • 15. Represent Customers with Development • User Stories are a start of a conversation around a need to be met. – Elaborate via a grooming process – Engage customer working groups to elaborate requirements • Regularly demonstrate working software to customer working groups (after each iteration) • Give customer working group first access to final version
  • 16. Align Customer Feedback with Strategy • Case Study - Mint.com • Many users requesting Quicken/MS Money type features. • Not their value proposition, not their target market • Clearly understood their key user persona & thus their product strategy. • What if they had responded to customer requests (not their target market, would have changed their positioning, etc.)
  • 17. Apply Usage Analytics • Application of analytics depends on user interaction – How often and how complex of interaction • Simple workflows – Analytics provide valuable insight – Easy to do A/B testing • Complex interactions – Analytics is an important indicator, but in and of itself is not usually sufficient – Must understand context via customer discovery
  • 18. Create Buzz Around New Capabilities • Challenge: no major launch events to build buzz • Active participation in online community and other online/social media • Plan schedule of new capabilities to create bundles that synergistically increase customer value • Make major announcements around bundle of new capabilities
  • 19. Characteristics of a Successful Product Manager • Passionate about understanding market needs • Engages well with customers & non-customers at all levels • Provides leadership (vision, strategy) for their products • Works well with and develops respect with all parts of the organization • Understands how their product supports corporate strategy, goals, objectives • Delivers requirements to development supported by market evidence
  • 20. Acknowledgements • Tom Hale, Chief Product Office, HomeAway • Erik Huddleston, Executive VP, Products and CTO, Dachis Group • Audrey Montgomery, Senior PM – SaaS Products, Blackbaud (Convio) • Denny Lecompte, VP – Products, SolarWinds
  • 21. Thank You! Tom Evans Lûcrum Marketing tevans@lucrum-marketing.com +1.512.961.5267 @compellingpm Copyright 2012 - LÛCRUM MARKETING

Notes de l'éditeur

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