Taking In-House Product to Market

Exploring how to take a product that been built for internal use by a company to market. Starting with why it could / should be done, discussing the stages in which this can be done, specific tasks for a Product Manager and finally various tasks for various team.

Transcript

1. TAKING IN-HOUSE PRODUCT TO MARKET A How-To p r o d u c t m a n a g e m e n t
2. INTERNAL V/S EXTERNAL Internal External Terminology Project Portfolio Product Portfolio Impact Cost Revenue Focus Efficiency Market Ref: http://www.proficientz.com/project-portfolio-vs-product-portfolio/
3. WHY?
4. WHY TAKE TO MARKET • Revenue Potential • Employee Morale • Leadership • Thought • Technology • Product • Design • Domain • Engineering • Practices
5. 5 QUESTIONS TO START WITH
6. 1. Who else will buy this? a. Names of likely buyers and categories of buyers. The reason 'else' is emphasized is highlight that there is already one customer, your own org 2. What all options will they reject to buy this? a. Similar products or option to custom-build 3. For what key benefit, you think, they will pay? a. The USP / Key Value Prop 4. How much and how do you think they will pay for this? a. First take on Pricing and pricing model 5. Why would your org support this effort? a. A powerful reason
7. HOW?
8. 6 STAGES OF BUSINESS ROLLOUT
9. BUT FIRST ...
10. THE GOLDEN LOGARITHMIC SPIRAL
11. COMPLEXITY IN EACH STAGE WILL INCREASE EXPONENTIALLY
12. EXTERNAL PRODUCT WILL BE EXPONENTIALLY MORE COMPLEX COMPARED TO IN-HOUSE VERSION
13. THE LEFT SIDE OF THIS CUP IMPLIES IS THAT A WE CLIMB DOWN FROM WHAT HAS BEEN BUILT/LEARNT TILL NOW, UNLEARN, THE COMPLEXITY WILL DECREASE. HOWEVER, AS WE REANALYZE AND THEN START THE PROCESS, THE COMPLEXITY WILL GROW EXPONENTIALLY.
14. EXTERNAL PRODUCT WILL BE EXPONENTIALLY MORE COMPLEX COMPARED TO IN-HOUSE VERSION Unlearning is very important. In any future crisis, resorting to what worked earlier can be disastrous. Doing experiments anew is important. Unlearn
15. EXTERNAL PRODUCT WILL BE EXPONENTIALLY MORE COMPLEX COMPARED TO IN-HOUSE VERSION Starting with 5 Questions mentioned earlier, re- analyze the product, its reason and benefits with whole market in view Re-Analyze Unlearn
16. EXTERNAL PRODUCT WILL BE EXPONENTIALLY MORE COMPLEX COMPARED TO IN-HOUSE VERSION The Complexity will obviously decrease as you unlearn and re-analyze Re-Analyze Unlearn
17. EXTERNAL PRODUCT WILL BE EXPONENTIALLY MORE COMPLEX COMPARED TO IN-HOUSE VERSION Good time to test many hypotheses Re-Analyze Early Access Unlearn
18. EXTERNAL PRODUCT WILL BE EXPONENTIALLY MORE COMPLEX COMPARED TO IN-HOUSE VERSION Less Complexity compared to to where you are now Re-Analyze Early Access Limited Access Unlearn
19. EXTERNAL PRODUCT WILL BE EXPONENTIALLY MORE COMPLEX COMPARED TO IN-HOUSE VERSION Unlearn Much more Complexity than you could ever face in-house. Plan for it, but no point guessing/estimating this and beyond. Thus take lean approach Re-Analyze Early Access Limited Access Open Access
20. EXTERNAL PRODUCT WILL BE EXPONENTIALLY MORE COMPLEX COMPARED TO IN-HOUSE VERSION Unlearn Plan for it, but no point guessing/estimating this and beyond. Thus, continue to take lean approach. Re-Analyze Early Access Limited Access Self Serve Open Access
21. Design Branding Design language Product Product-Market Fit Product Vision Identify confidential Parts Analyze Competition Decoupling Policy Support Existing channels Re-Analyze Design User Flow User Experience New Branding Product Redo Product Management Canvas Clear Pricing Policy Support Channel prioritisation Marketing Evangelism Elevator pitch Commercials Pricing strategy Org Rethink Product team Hiring Early Access Product Rethink the MVP Key Analytics Re-access tech decisions FAQs Licensing Report bugs and feedback via Support Channels TechNotes, Gotchas Marketing Periodic updates Commercials Buy default config even if for $0 Org Marketing team Limited Access Design White-labeling Product Rebuild ecosystem Piracy & Security Discounting E-commerce & Buying Basic Role Management Crash Analytics Support Build KB based on issues / queries Marketing Brand value Competitive differentiation Power-use updates Commercials Buy various configs even if discounted Org Support team Open Access Product Full Role Management Social Media Support Incentivise Usage / feedback Bundling / Unbundling Usage Analytics & Data Support Proactive additions to Knowledgebase Marketing Advertising Social media engagement Position papers Commercials Variants & packages based pricing Org Sales team Operations team SelfServe Product Revenue Analytics Fully enabled self- discovery Automations Support Social connects Domain related additions to Knowledgebase Marketing Thought Leadership RoI driven marketing and advertising Commercials Easy buy based access to options Unlearn
22. 7 TASKS FOR THE PROMA
23. ACTION LIST FOR THE PROMA 1.Get Design team to work on branding and reassess the user flow and experience 2.Get Product team to redo the Product Management Canvas 3.Get Quality team to ensure the product will work well them opened up 4.Get Security team to analyse the risks as product is opened up 5.Get Marketing team to deliver collaterals, articles, blogs, ads, etc 6.Get Support team ready to help users as if their lives depended on it 7.Get Sales team going and bringing on booking / revenues
24. 25 ACTIONS FOR THE TEAMS
25. 25 STEPS Design 1. Design an independent branding and design language 2. Rethink user flows and user experience based on user research as 100% of new users may not be directly accessible Product 1. Rethink your MVP 2. Redefine product vision 3. Take control of Roadmap and break free from shackles of Product Sponsor and early advocates 4. Remove confidential analysis, techniques and flows 5. Re-assess product-market fit 6. Take competition more seriously and not just source of ideas
26. 25 STEPS 9. Revisit rejected partners and rebuild an ecosystem 10. Add Role Management to accommodate for Admins and Super-Admins 11. Reaccess tech decisions on tools, stacks and methods 12. Start saying NO to requests from Product Sponsor or early users 13. Consider licensing 14. Consider threat of Piracy and security breaches Feedback, Support, Marketing & Communication 9. Build searchable and easily navigable Knowledgebase to enable self-discovery 10. Add reporting of bugs, providing feedback, request support from within the product 11. Add reporting of bugs, providing feedback, request support using social media 12. Incentivise / reward communication from users and partners 13. Reach out and market using social media and do not hesitate to advertise
27. 25 STEPS Business & Commercial 20. Add ‘buying’ of product, even if it is for $0 21. Establish a pricing/discounting/packaging policy 22. Retrain team to focus on revenues and setup efficient revenue tracking 23. Making ‘buying’ or e-commerce via your product simple Organisation 24. Get a dedicated team 25. Get branding, support, marketing and sales teams in place
28. BEST PRACTICES
29. BEST PRACTICES FOR OPEN SOURCING • Technical Communication • Version Control, Document Management, and Distribution • Quality Assurance • Build and Test Management • Project Management • Knowledge Management
30. BEST PRACTICES FOR COMMERCIALISING • Clear pricing policy • Easy to understand licensing policy • Easy to report bugs and provide feedback • Continuous security analysis and piracy protection • Easy to use e-commerce and buy • Ability to define roles and grant permissions • Self-discovery via knowledge management • Support (free and paid variants) • Enables 3rd parties to build products or provide service on top of your product • Analytics
31. THANK YOU http://www.ddiinnxx.com @ddiinnxx