Beyond the roadmap: creating differentiation through product marketing love

Transcript

1. Beyond the Roadmap Creating Differentiation through Product Marketing Love
2. Snapshot of Product Marketing Today How I define PMM: The glue that brings disparate stakeholders together. We create scalable, personalized customer experiences to drive growth, profit, and satisfaction. 2019 Upside • Product marketing gaining momentum and respect • Increasingly global world (personally/professionally) • Spice Girls back on tour 2019 Downside • Product marketing STILL ambiguous/misunderstood • Product differentiation increasingly difficult • Golden State Warriors season so far
3. Product differentiation becomes increasingly difficult as competing products become increasingly similar
4. How do you stand out in a commoditized market?
5. Product marketing is a secret weapon for your company’s Unique Selling Proposition
6. True or false: If you build a great product, the right customers will find it and realize its full value
7. True or false: If you build a great product, the right customers will find it and realize its full value FALSE
8. To stand out, you must connect product to brand, and make the experience personal
9. How to differentiate through PMM Prioritize (and listen to) the Voice of the Customer Craft thoughtful education throughout customer lifecycle Build, train, and maintain consistency across your teams
10. Prioritize the Voice of the Customer Quantitative and qualitative feedback must inform marketing and roadmaps alike Are your users truly satisfied with your product offering (sentiment score, NPS)? Positioning/messaging must solve for the existing and future customers, not insular groupthink
11. VoC: Developing Personas & ‘Ideal Customer Profiles’ Fictional representations of your ideal customers • Other functions must internalise personas • Help us relate to customers as real humans • Exhaustively validate an ICP, for which your product is largely built for and marketed towards
12. VoC: Mapping out Researched-Backed Segmentation Define buckets of target customers - versus blasting generalized messaging • Find PMF for one segment, then expand • Organize existing customers, and decide who are the customers to attract next
13. VoC: Organize by segment or jobs to be done
14. Craft thoughtful education throughout customer lifecycle Do you understand their unique pain/fit? Create a memorable, differentiated experience through: • the right value messaging • to the right customer • at the right point in the lifecycle
15. Build, train, and maintain consistency across teams Position products competitively, and ensure value messaging shines for each target audience Differentiation requires more than stellar marketing activity: it requires enablement accountability Ethos and purpose—the bigger picture of why this matters—require buy-in from all stakeholders
16. Snapshot case study: Marketer at Deliveroo
17. PMM Strategic Goals: Transform the way the restaurant industry engages with online customers Change customer perception of value for money on Deliveroo
19. Marketer helps restaurant partners: Attracting new customers Prairie Fire BBQ, London Offer: 20% off Return: 51% increase in orders, compared to the previous period Target audience: New customers “I really like the way you put so much control back into restaurants’ hands. You can have an impact fast, and you have the control to stop an offer mid-campaign if you wanted to. So it’s easy to say, why not give it a try? Revenue definitely went up [with our first offer]. For a small business, small changes in revenue have a big effect. And a significant portion of our revenue comes through Deliveroo. I was really happy to see is that a component in Marketer is data analysis. You can see how the offer worked, new customers you added, how many people viewed your menu. For me the key thing is the ratio between new customers and existing customers. If you can tweak that ratio, that’s success!”
20. Marketer Promotions Go-to-Market Strategy: Rallying for high impact marketing campaigns
21. GTM
22. Measurement Framework Since launching 1 year ago: • 40,000+ restaurants restaurants created an offer • 30% global restaurant adoption and 60% repeat rate • Growth lever for onboarding, churn prevention • 5.1 million consumer orders placed with an offer
23. Product Marketing Goals New customer acquisition: • X% of new customer first orders convert with a Marketer offer • Increasing Marketer incrementality to Y% by attracting new audiences Shifting existing customers: • Move 1.5% A into B segments by June 2020 • Move 2% C into D segments by June 2020 • Increase global indexing with <audience> from 22% to 25%
24. So, how do you work beyond the roadmap, and differentiate through PMM activities?
25. Put customers at the heart of your product, and deliver product love to your customers
26. You, and the business, will feel the impact— from customer happiness to the bottom line