a whirlygig tour of emerging marketing technology categories

Whirlygig Tour of Emerging Marketing Technology Categories

Jay Famico Practice Director, Technology

March 31st 2015

© 2015 SiriusDecisions. All Rights Reserved 2

Executive Summary

• Key issues

• Historically, product management and advocacy marketing has relied on a patchwork of

disparate tools and technologies designed for other roles and functions

• A new landscape of applications purposefully designed for product management is

emerging, though many product managers are unaware of their existence

• Although b-to-b organizations often rely heavily on in-house options to generate customer

references and advocates, a growing list of technologies are now available

• What you will walk away with

• A guide to which tools might be most appropriate based on challenges and needs

• Lessons learned on how best leverage and utilize each type of application

Product ManagementNext Generation Product Management Technologies

4

SiriusPerspective:


Product Managers are Technology Laggards

Fill In the Blank

• Sales Reps have Sales Force Automation.

• Marketers have Marketing Automation.

• Product Managers have _________________.

87% of B-to-b product managers don’t use product management

tools; they use sub-optimized office productivity and product development tools.

Of B-to-b product managers are

not aware that applications

specifically designed for product

management exist.


EnhanceMonitorLaunchBuildAlignDesignDiscovery

The SiriusDecisions Product Marketing and Management Model

MARKETING

PRODUCT

SALES

Brand and Naming Routes to Market Campaign PlanningReputation / Advertising

Demand Measurement

Customer Marketing

Relative Targeting Messaging Thought Leadership Demand CreationWin/Loss Analysis

RetentionStrategies

Buyer Personas/ Needs

Competitive Positioning

Content ActivationReferences and Advocacy

Buying CycleSales Contentand Tools

Influencer Relations

User Personas/ Needs

Pricing Sales Support Customer FeedbackLifecycle Management

PortfolioArchitecture

Product TestingDemos, Trials Proofs of Concept

Satisfaction Measurement

Enhancement Prioritization

Competitive Analysis Release ReadinessHigh-PriorityUpdates

Field InputSales Advisory Council

Financial TargetsSales Communications

Sales Adoption Retention Programs

Sales Training Pipeline Analytics

STRATEGY EXECUTION GROWTH

Prototype

Concept Testing

*Deliverables Activities

Market Sizing Segmentation

Demand Type

Sales Coverage Strategy

Channel PartnerStrategy

Named Accounts

Territory Alignment

Certification Incentives

Field Feedback

Upsell Cross-sell

Version 3.0

Marketing Plan*

Content Brief*

Solution Handbook*

Launch Plan*

Product Roadmap* User Stories/Functional Spec*

Business Case*(final)

Future Roadmap*

Product Requirements*

Sales EnablementPlan*

Business Case* (concept)

Market Requirements*

Launch Dashboard*

Offering Dashboard*




MARKETING

PRODUCT

SALES


Demand Measurement

Customer Marketing

Relative Targeting Messaging Thought Leadership Demand CreationWin/Loss Analysis

RetentionStrategies



Content ActivationReferences and Advocacy

Buying CycleSales Contentand Tools

Influencer Relations


Pricing Sales Support Customer FeedbackLifecycle Management











Prototype

Concept Testing



Demand Type



Named Accounts

Territory Alignment


Field Feedback

Upsell Cross-sell

Version 3.0

Marketing Plan*

Content Brief*

Solution Handbook*

Launch Plan*

Product Roadmap* User Stories/Functional Spec*

Business Case*(final)

Future Roadmap*


Sales EnablementPlan*

Business Case* (concept)

Market Requirements*

Launch Dashboard*

Offering Dashboard*

SiriusPerspective:


Idea Management: Deep DiveIdea management can help product managers make more informed

decisions about product changes and enhancements to improve product experience.

of b-to-b product managers currently use

idea management applications

15%• What is it?

• These applications allow the capture and

analysis of feedback and ideas from

users, customers, prospects, and internal

stakeholders.

• Projected impact

• Improved ability to capture and

consolidate of product ideas and customer

feedback

• Better communication with customers,

sales and stakeholders

SiriusPerspective:


Idea Management: Prerequisites and VendorsEffective implementation of idea management requires integration of the

application into existing feedback channels.

Prerequisites for Success

Interlock • Sales, customer service, account

management

Process • Innovation workflow

Technical

Requirements

• Single sign-on from application or other

feedback channels

• Integration to product planning tools

GREATEST AREAS OF IMPACT

REPRESENTATIVE VENDORSSCOPE OF EFFORT RELATIVE ADOPTION

LOW MEDIUM

Discovery

Field Input



Monitor Enhance

Customer FeedbackEnhancement Prioritization


SiriusPerspective:


Concept Testing: Deep DiveConcept testing evaluates products or enhancements before they are

built to determine whether ideas are worth pursuing and how they can be improved.

• What is it?

• These applications focus on the evaluation

of product concepts – as well as product

designs and features/enhancements – by

target customers.


• Decreased cost and increased speed of

conducting concept tests

• Increased likelihood concept testing will be

performed

• Decreased investment in bad ideas

SiriusPerspective:


Concept Testing: PrerequisitesOther functions including portfolio marketing, demand creation and

communications may also be able to leverage these technologies.


Interlock • User experience, product development

Process • Prototype creation

• Concept test definition and execution

• Participant recruitment

Technical

Requirements

• Ability for participants to access,

evaluate concepts online



MEDIUM LOW

Design


Prototype

Concept Testing

Build

Product Testing

SiriusPerspective:


Planning, Prioritization and Roadmapping: Deep DiveThese applications can provide a single platform for organizing much of

the information and many of the deliverables key to product management.

• What is it?

• These applications allow for aggregation

of feedback, facilitate feature/idea

prioritization, and support the creation and

updating of a product roadmap.


• Improved collaboration with product

development and design teams

• More efficient, objective approach to

enhancement prioritization

• Better communication of roadmaps

have been

using these

for less than

a year

of non-users

indicate they

are likely to

buy soon

SiriusPerspective:


Product Planning, Prioritization and Roadmapping: Prerequisites

Capabilities vary significantly across vendors; prioritize needs and

desired capabilities to identify short list of vendors to evaluate.


Interlock • Product development, product design,

executive stakeholders

Process • Defined, consistent development and

innovation process

Technical

Requirements

• Migration from existing tools,

information repositories

• Integration with development tools



HIGH MEDIUM

Design

Market Requirements

Product Requirements

Build Enhance

User Stories/ Functional Spec


Release Readiness Future Roadmap


SiriusPerspective:


Product Engagement: Deep DiveThese applications help organizations understand user behavior and

allow encouragement of activities leading to higher levels of product engagement.

• What is it?

• These applications monitor activity and

allow product managers to target

interventions with users meeting specific

criteria to maximize engagement.


• Increased usage, improved user

satisfaction and renewal rates

• Reduced time / cost for product training,

onboarding

SiriusPerspective:


Product Engagement: PrerequisitesThese applications can also be leveraged for customer marketing

purposes to promote upsell or for internal or external training purposes.


Interlock • Support, customer experience

Process • Data analysis

• Real-time customer communication

Technical

Requirements

• Ability to embed in web application

• Capture and transmission of user-

specific data elements



MEDIUM LOW

Launch Monitor Enhance

Customer Feedback

Upsell Cross-sell

Sales Training


Customer Marketing


Product MarketingNext Generation Product Marketing Technologies

4




MARKETING

PRODUCT

SALES


Demand Measurement

Customer Marketing

Relative Targeting Messaging Marketing Plan Thought Leadership Demand CreationWin/Loss Analysis

RetentionStrategies



Content Brief Content ActivationReferences and Advocacy

Buying Cycle Solution HandbookSales Contentand Tools

Launch Plan Influencer Relations


Pricing Product Roadmap User Stories / Functional Spec

Sales Support Customer FeedbackLifecycle Management


Business Case(final)





Future Roadmap






Prototype

Concept Testing

Product Requirements

Sales EnablementPlan



Demand Type

Business Case (concept)

Market Requirements



Named Accounts

Territory Alignment

Launch Dashboard

Offering Dashboard


Field Feedback

Upsell Cross-sell

Version 3.0

SiriusPerspective:


Customer Reference Management: Deep DiveA company’s words never carry the weight of those from a customer,

meaning that building a top-notch reference program shouldn’t be looked at as a luxury.

• What is it?

• These solutions streamline the reference

nomination process. They also improve

sales and marketing teams’

communication and visibility into advocacy

options.


• Improvement in the number and quality of

references

• Reduces the need to source live

references from clients

SiriusPerspective:


Customer Reference Management: PrerequisitesBest-in-class reference programs are characterized by four key

attributes: structure, focus, commitment and access.


Interlock • Sales enablement, account

management, customer experience

Process • Develop success measures that link

advocacy to growth outcomes

• Clear “ownership”

Technical

Requirements

• Integration with SFA or sales portal



MEDIUM MEDIUM



Reputation / Advertising

Customer MarketingReferences and Advocacy

Sales Contentand Tools

Upsell Cross-sell

SiriusPerspective:


Customer Advocacy Management: Deep DiveThough the perception of advocacy has improved, many companies still

see the function as a tactical, and allocate limited people and program resources.

• What is it?

• These platforms facilitate customer

interactions and incentivizes them to

speak on your behalf


• Increases the reach and impact of

advocacy activities

• Provides visibility into which customers

contribute the mostof b-to-b companies don’t have formal

requirements in place for sales to help

source advocates.

93%

SiriusPerspective:


Customer Advocacy Management: PrerequisitesOrganizations find that tactics that leverage customer advocacy have

positive outcomes in terms of cost per-MQL, average deal size, conversion and velocity.


Interlock • Sales enablement, account

management, customer experience

Process • Strong coordination across customer

and demand marketing functions

• Evaluate current informal procedures

Technical

Requirements

• Orchestration with other outbound

marketing and sales technologies



LOW LOW



Reputation / Advertising

Customer MarketingReferences and Advocacy

Sales Contentand Tools

Upsell Cross-sell


Action Items

• Product Management

• Analyze existing areas of greatest need of technology

support based on PMM Model

• Develop a product management tool roadmap and evaluate

relevant applications as appropriate

• Product Marketing

• Assess the degree to which sales helps identify new

potential customer advocates

• Justify the value of technology investments by mapping how

advocacy assets and interactions, aided by technology, can

impact the sales cycle

a whirlygig tour of emerging marketing technology categories

Marketing

product roadmap

product requirements

product development

marketing plan

marketing automation

advocacy marketing

b organizations

sales enablementplan