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A Whirlygig Tour of Emerging Marketing Technology Categories

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From the MarTech Conference in San Francisco, California, March 31-April 1, 2015. SESSION: A Whirlygig Tour Of Emerging Marketing Technology Categories. PRESENTATION: A Whirlygig Tour of Emerging Marketing Technology Categories - Given by Jay Famico, @jayfamico - Sirius Decisions, Practice Director, Technology

From the MarTech Conference in San Francisco, California, March 31-April 1, 2015. SESSION: A Whirlygig Tour Of Emerging Marketing Technology Categories. PRESENTATION: A Whirlygig Tour of Emerging Marketing Technology Categories - Given by Jay Famico, @jayfamico - Sirius Decisions, Practice Director, Technology

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A Whirlygig Tour of Emerging Marketing Technology Categories

  1. 1. Whirlygig Tour of Emerging Marketing Technology Categories Jay Famico Practice Director, Technology March 31st 2015
  2. 2. © 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
  3. 3. Product Management Next Generation Product Management Technologies 4
  4. 4. SiriusPerspective: © 2015 SiriusDecisions. All Rights Reserved 4 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.
  5. 5. © 2015 SiriusDecisions. All Rights Reserved 5 EnhanceMonitorLaunchBuildAlignDesignDiscovery The SiriusDecisions Product Marketing and Management Model MARKETING PRODUCT SALES Brand and Naming Routes to Market Campaign Planning Reputation / Advertising Demand Measurement Customer Marketing Relative Targeting Messaging Thought Leadership Demand Creation Win/Loss Analysis Retention Strategies Buyer Personas/ Needs Competitive Positioning Content Activation References and Advocacy Buying Cycle Sales Content and Tools Influencer Relations User Personas/ Needs Pricing Sales Support Customer Feedback Lifecycle Management Portfolio Architecture Product Testing Demos, Trials Proofs of Concept Satisfaction Measurement Enhancement Prioritization Competitive Analysis Release Readiness High-Priority Updates Field Input Sales Advisory Council Financial Targets Sales 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 Partner Strategy 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 Enablement Plan* Business Case* (concept) Market Requirements* Launch Dashboard* Offering Dashboard*
  6. 6. © 2015 SiriusDecisions. All Rights Reserved 6 EnhanceMonitorLaunchBuildAlignDesignDiscovery The SiriusDecisions Product Marketing and Management Model MARKETING PRODUCT SALES Brand and Naming Routes to Market Campaign Planning Reputation / Advertising Demand Measurement Customer Marketing Relative Targeting Messaging Thought Leadership Demand Creation Win/Loss Analysis Retention Strategies Buyer Personas/ Needs Competitive Positioning Content Activation References and Advocacy Buying Cycle Sales Content and Tools Influencer Relations User Personas/ Needs Pricing Sales Support Customer Feedback Lifecycle Management Portfolio Architecture Product Testing Demos, Trials Proofs of Concept Satisfaction Measurement Enhancement Prioritization Competitive Analysis Release Readiness High-Priority Updates Field Input Sales Advisory Council Financial Targets Sales 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 Partner Strategy 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 Enablement Plan* Business Case* (concept) Market Requirements* Launch Dashboard* Offering Dashboard*
  7. 7. SiriusPerspective: © 2015 SiriusDecisions. All Rights Reserved 7 Idea Management: Deep Dive Idea 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
  8. 8. SiriusPerspective: © 2015 SiriusDecisions. All Rights Reserved 8 Idea Management: Prerequisites and Vendors Effective 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 Buyer Personas/ Needs User Personas/ Needs Monitor Enhance Customer Feedback Enhancement Prioritization *Deliverables Activities
  9. 9. SiriusPerspective: © 2015 SiriusDecisions. All Rights Reserved 9 Concept Testing: Deep Dive Concept 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. • Projected impact • Decreased cost and increased speed of conducting concept tests • Increased likelihood concept testing will be performed • Decreased investment in bad ideas
  10. 10. SiriusPerspective: © 2015 SiriusDecisions. All Rights Reserved 10 Concept Testing: Prerequisites Other functions including portfolio marketing, demand creation and communications may also be able to leverage these technologies. Prerequisites for Success 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 GREATEST AREAS OF IMPACT REPRESENTATIVE VENDORSSCOPE OF EFFORT RELATIVE ADOPTION MEDIUM LOW Design Product Requirements* Prototype Concept Testing Build Product Testing
  11. 11. SiriusPerspective: © 2015 SiriusDecisions. All Rights Reserved 11 Planning, Prioritization and Roadmapping: Deep Dive These 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. • Projected impact • 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
  12. 12. SiriusPerspective: © 2015 SiriusDecisions. All Rights Reserved 12 Product Planning, Prioritization and Roadmapping: Prerequisites Capabilities vary significantly across vendors; prioritize needs and desired capabilities to identify short list of vendors to evaluate. Prerequisites for Success 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 GREATEST AREAS OF IMPACT REPRESENTATIVE VENDORSSCOPE OF EFFORT RELATIVE ADOPTION HIGH MEDIUM Design Market Requirements Product Requirements Build Enhance User Stories/ Functional Spec Enhancement Prioritization Release Readiness Future Roadmap *Deliverables Activities
  13. 13. SiriusPerspective: © 2015 SiriusDecisions. All Rights Reserved 13 Product Engagement: Deep Dive These 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. • Projected impact • Increased usage, improved user satisfaction and renewal rates • Reduced time / cost for product training, onboarding
  14. 14. SiriusPerspective: © 2015 SiriusDecisions. All Rights Reserved 14 Product Engagement: Prerequisites These applications can also be leveraged for customer marketing purposes to promote upsell or for internal or external training purposes. Prerequisites for Success 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 GREATEST AREAS OF IMPACT REPRESENTATIVE VENDORSSCOPE OF EFFORT RELATIVE ADOPTION MEDIUM LOW Launch Monitor Enhance Customer Feedback Upsell Cross-sell Sales Training Enhancement Prioritization Customer Marketing *Deliverables Activities
  15. 15. Product Marketing Next Generation Product Marketing Technologies 4
  16. 16. © 2015 SiriusDecisions. All Rights Reserved 16 EnhanceMonitorLaunchBuildAlignDesignDiscovery The SiriusDecisions Product Marketing and Management Model MARKETING PRODUCT SALES Brand and Naming Routes to Market Campaign Planning Reputation / Advertising Demand Measurement Customer Marketing Relative Targeting Messaging Marketing Plan Thought Leadership Demand Creation Win/Loss Analysis Retention Strategies Buyer Personas/ Needs Competitive Positioning Content Brief Content Activation References and Advocacy Buying Cycle Solution Handbook Sales Content and Tools Launch Plan Influencer Relations User Personas/ Needs Pricing Product Roadmap User Stories / Functional Spec Sales Support Customer Feedback Lifecycle Management Portfolio Architecture Business Case (final) Product Testing Demos, Trials Proofs of Concept Satisfaction Measurement Enhancement Prioritization Competitive Analysis Release Readiness High-Priority Updates Future Roadmap Field Input Sales Advisory Council Financial Targets Sales Communications Sales Adoption Retention Programs Sales Training Pipeline Analytics STRATEGY EXECUTION GROWTH Prototype Concept Testing Product Requirements Sales Enablement Plan *Deliverables Activities Market Sizing Segmentation Demand Type Business Case (concept) Market Requirements Sales Coverage Strategy Channel Partner Strategy Named Accounts Territory Alignment Launch Dashboard Offering Dashboard Certification Incentives Field Feedback Upsell Cross-sell Version 3.0
  17. 17. SiriusPerspective: © 2015 SiriusDecisions. All Rights Reserved 17 Customer Reference Management: Deep Dive A 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. • Projected impact • Improvement in the number and quality of references • Reduces the need to source live references from clients
  18. 18. SiriusPerspective: © 2015 SiriusDecisions. All Rights Reserved 18 Customer Reference Management: Prerequisites Best-in-class reference programs are characterized by four key attributes: structure, focus, commitment and access. Prerequisites for Success 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 GREATEST AREAS OF IMPACT REPRESENTATIVE VENDORSSCOPE OF EFFORT RELATIVE ADOPTION MEDIUM MEDIUM Launch Monitor Enhance *Deliverables Activities Reputation / Advertising Customer MarketingReferences and Advocacy Sales Content and Tools Upsell Cross-sell
  19. 19. SiriusPerspective: © 2015 SiriusDecisions. All Rights Reserved 19 Customer Advocacy Management: Deep Dive Though 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 • Projected impact • 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%
  20. 20. SiriusPerspective: © 2015 SiriusDecisions. All Rights Reserved 20 Customer Advocacy Management: Prerequisites Organizations find that tactics that leverage customer advocacy have positive outcomes in terms of cost per-MQL, average deal size, conversion and velocity. Prerequisites for Success 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 GREATEST AREAS OF IMPACT REPRESENTATIVE VENDORSSCOPE OF EFFORT RELATIVE ADOPTION LOW LOW Launch Monitor Enhance *Deliverables Activities Reputation / Advertising Customer MarketingReferences and Advocacy Sales Content and Tools Upsell Cross-sell
  21. 21. © 2015 SiriusDecisions. All Rights Reserved 21 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

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