Great Requirements Form the Foundation for Successful Products
Tom Evans
CompellingPM
@compellingpm
Copyright 2013 - 2015. The Lûcrum Group, Inc. 1
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: [email protected]
• Actively seeking new members, volunteers, and sponsors
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Special offer from CompellingPM at the end of the webinar.
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Great Requirements Form the Foundation for Successful Products
Tom Evans
CompellingPM
@compellingpm
Copyright 2013 - 2015. The Lûcrum Group, Inc. 4
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
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Not Great Marketing
• David Ogilvy said: “Great marketing only makes a bad product fail faster.”
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How We Think About Products
Product Hell
Get’s Job Done
Way Better
Awesome
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How Do We Get to Awesome?
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Make lives “way” better
“for all stakeholders”, in unexpected
ways
How Do We Get to Awesome?
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Make lives “way” better
“for all stakeholders”, in unexpected
ways
Compelling, singular value proposition
Empathy for the user & buyer
Craft the full customer experience
How Do We Get to Awesome?
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Make lives “way” better
“for all stakeholders”, in unexpected
ways
Compelling, singular value proposition
Empathy for the user & buyer
Craft the full customer experience
PM2 Levers of Control™
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Executional LeversProduct
•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 PositioningCompetitive
StrategiesMessaging Platform
Alignment to Business Drivers
Market Analysis
VOC Competitive Analysis Ecosystem Analysis
Deere
“The mantra at Deere in recent times for all new product development programs has been
'DCU/DCV'
Deep Customer Understanding
Deliver Customer Value”
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Nikhil Bhagath, On Quora
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
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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
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
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June 11 Webinar
http://compellingpm.com/developing-a-deep-understanding-of-your-target-markets-
the-starting-point-for-great-product-management-marketing/
Don’t Ask What They Want!
“If I had asked people what they wanted,
they would have said faster horses.”
Copyright 2011 - 2013 - LÛCRUM
MARKETING
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
MARKETING
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?
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All Stakeholders
• Strategic/Financial (Executives)
• Operational (Managers)
• Task Performers (Front-line)
• All levels: Corporate, Business Units, Regional, Etc
• Internal/External
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Requirements
Requirements are about creating understanding
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RequirementsProduct
Development & Delivery
Customer Context
Whole Product
• Delivers expected customer value +
• Makes product easier to buy and to use
• Based upon customer journey map
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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
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Go-to-Market Drives Product Strategy
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Strategies for Your 4Ps
Product Strategy Pricing Strategy Channel Strategy Promotional Strategy
Go-to-Market Strategy
Target Markets PositioningCompetitive
StrategiesMessaging Platform
Alignment to Business Drivers
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.
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Lacking Some Empathy
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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."
Who’s the Boss?
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http://www.treehugger.com/aviation/standing-seats-on-airplanes-are-a-no-fly-zone.html
What’s the Problem Scenario
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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?
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
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How is This For Empathy
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https://www.flickr.com/photos/jgm/678028550/
How Do We Get to Awesome?
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Make lives “way” better
“for all stakeholders”, in unexpected
ways
Compelling, singular value proposition
Empathy for the user & buyer
Craft the full customer experience
PM2 Levers of Control™
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Executional LeversProduct
•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 PositioningCompetitive
StrategiesMessaging Platform
Alignment to Business Drivers
Market Analysis
VOC Competitive Analysis Ecosystem Analysis
Go-to-Market Webinar Serieshttp://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
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Next Webinar
• Profitable Products Sell Value: Why Value-Based Pricing Wins
August 13, 2015
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http://compellingpm.com/go-to-market-webinar-series-with-dfw-product-group/
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
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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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Thank You!
Tom Evans
CompellingPM
@compellingpm
www.compellingpm.com
Copyright 2013 - 2015. The Lûcrum Group, Inc. 48