How Product Managers Measure Product-Market Fit

ProductPlan

Problems yearn for solutions, needs long to be met, and markets are waiting to be addressed. This reality beckons startups and established firms to introduce new products that will scratch that itch and deliver satisfaction. If no one wants your product, you don’t have a market.

4 Unusual Promotional Gifts for Product Marketing Managers

Spice Catalyst

Product Marketing (Success) Managers sometimes get involved with marketing communications and need some chatkas to help with branding at say a trade show.

The importance of an effective product marketing strategy

Inside Intercom

Despite the mountain of evidence contradicting the mantra of “if you build it, they will come”, it’s still extremely prevalent among product-first companies. First, most founders don’t have a background in either sales or marketing, and even though they’re told to “ start marketing the day you start coding ”, they just don’t know where to begin, or they’re incredibly overconfident. Do they know where to go to promote their product, and how to do it once they get there?

ABM and How It Can Optimize Product Marketing

280 Group

Product marketers driving account-based marketing (ABM) programs operate with a different thought process when it comes to marketing to individual accounts because they think more like sales people. Product Marketing Methodology Sales Webinar

Product/Market Fit is Failing Because of Your Company Structure

Mind the Product

Did you know that 42% of startups fail because no one wants to buy their product? For corporations, nearly 80% of new products fail each year for the exact same reason. So why are we still developing products no one wants? Product experts have tried to tackle this issue but they gloss over the impact a company’s structure and leadership team have on product/market fit. Who owns Product/Market fit – Marketing, Sales, or Business?

How Product Marketing Roadmaps Drive Sales | Shifting Market, Shifting Strategy | Agile: We’ve Come Full Circle

Proficientz – Product Management University

The B2B Product Manager Magazine August 2018 is now available. This month we explore the value of a product marketing roadmap to sales. It’s not a staple in most B2B organizations but it’s just as important to your near-term revenue as a product roadmap is to your longer-term growth. In This Issue: Blog: High-Octane Product Management. The Value of a Product Marketing Roadmap: It’s Like Deep-Sea Fishing for Sales.

What are some examples of an inefficient product or product line market strategy or Product/Market Fit?

Spice Catalyst

I recently recorded a Podcast with my guest Raghu Ramanujam where we discussed the “product/market fit” that has become quite popular lately to explain product successes or failures.

Product Marketing or Product Management

Pragmatic Marketing

The job titles product marketing manager and product manager are confusing enough to start raging debates about who does what. From a product perspective, we can simplify this as current products, next products and future products. Roles Before Titles.

Product Marketing or Product Management

Pragmatic Marketing

The job titles product marketing manager and product manager are confusing enough to start raging debates about who does what. From a product perspective, we can simplify this as current products, next products and future products. Roles Before Titles.

Connecting Strategic Plans to Product, Marketing & Sales Execution Plans in 3 Steps

bpma ProductHub

By John Mansour – Most organizations have strategic plans that include goals for revenue growth, new customers, market share and other quantifiable metrics. But a huge disconnect often exists between the corporate strategic plan and tactical product, marketing and sales plans. When that’s the case, the organization loses tremendous momentum because all disciplines are… Product Strategy

5 strategies to drive your next wave of growth

Inside Intercom

It might be to launch a new product, to define a new category or to hit $1M in revenue. You hit your goal – you launched that new product, defined that new category, hit $1M in revenue. Build your next big product. Your next big product is probably right in front of you.

How 3 product marketing managers execute product releases

Roadmunk

While product managers puppeteer a product journey end-to-end, product marketing managers tend to be the masterminds behind releasing said product to market. Each product marketing leader walks us through a typical product launch.

Dear Strategy: 073 Strategy Career Questions (Part 3 of 3)

Dear Strategy

On this week’s episode, host Bob Caporale , founder of Strategy Generation Company and author of Creative Strategy Generation , answers the following question: Dear Strategy: “How do I evaluate a Product Manager to Product Marketing Manager career transition?”.

Dear Strategy: 061 Strategy Examples

Dear Strategy

Dear Strategy: “Can you give me an example of a really great or a really bad strategy?”. . I mean, if I can’t answer a question as simple as this, what business did I have writing a book on strategy in the first place? Keep in mind that I typically help product managers, marketing managers, and sales managers develop strategies for the individual portfolios, markets, and channels that they manage. Dear Strategy: Episode 061. ###.

Creating a “Customer Value” Culture, Powered by Product Management & Product Marketing

Proficientz – Product Management University

There’s a big difference between products that deliver tactical value to users and an organization that delivers strategic value to the customer organization from the top down (customer value driven). Delivering strategic value is so much bigger than a product. No one in your organization is jumping out of bed everyday totally juiced to help you “become the market leader,” or “become a billion-dollar organization,” or “grow by 30%.”

Podcast Ep. 23: How to Validate Product-Market Fit

Sequent Learning

Masters of Product Management is a podcast series that captures the ideas, commentary, and lessons learned from product management thought leaders across the globe. To bring your product strategy to […]. BLOG PRODUCT MANAGEMENT Steven Haines

Dear Strategy: 075 Getting People Excited About Your Strategy

Dear Strategy

Dear Strategy: “How do you communicate strategy to the rest of the organization with a small and newly formed team on a previously languishing product?”. . The first is that this is a new team, the second is that this is a small team, and the third is that this is a product that wasn’t doing so well. The reason these assumptions are important is that it’s a lot easier to motivate people around a winning product than a losing one. Dear Strategy – Episode 15.

Connecting Strategic Plans to Product, Marketing & Sales Execution Plans in 3 Steps

Proficientz – Product Management University

Most organizations have strategic plans that include goals for revenue growth, new customers, market share and other quantifiable metrics. But a huge disconnect often exists between the corporate strategic plan and tactical product, marketing and sales plans. In most cases, strategic plans are 100% inward facing — our revenue, our profitability, our market share, our profitability, our technology, etc. Blog Portfolio Strategy & Product Planning

Podcast Ep. 23: How to Validate Product-Market Fit

Sequent Learning

Masters of product management is a podcast series that captures the ideas, commentary, and lessons learned from product management thought leaders across the globe. Key points: 1) A product will only succeed if it solves a customer problem and presents a compelling value proposition.

Why do Cloud Companies need Technographics to Enable Product Marketing Effectiveness and Innovation?

DemandMatrix

Did you already know that more than half of the world’s companies (already using Cloud) will adoptan all-in cloud strategy by 2021? Data Enrichment

Lessons Learned in 33 Years in the Software Industry

bpma ProductHub

This year, Business of Software Conference USA is in Boston,… Product Marketing Community Product Management Resources Feedback research Usability Design Communication Innovation Product Strategy B2B B2C SoftwareSeth Godin on Making Software Seth Godin spoke at Business of Software Conference USA last year to share some of the many lessons that he has learned in his 33 years in the software industry. You can watch the talk or read a transcript here.

B2C 249

Vision vs. Strategy

svpg

In recent articles on keys to product success and the alternative to roadmaps I have highlighted that if you want the benefits of product team empowerment and autonomy, then you need to provide each team with the necessary context in which to make good decisions. I’ve explained that the context typically needs to be the product vision, and a specific set of outcome-based objectives for each team (OKR’s are an effective way to do that). Product Vision.

Vision 102

Startup marketing: strategies for year one

Inside Intercom

Looking back, I didn’t see these activities as marketing with a capital M, but they absolutely were. and the answer I give is always the same: the same place we found the time for writing code, designing our product, raising capital, etc. In the very early days of Intercom the marketing hat fell on my head, but I’d be doing marketing a disservice (and 2011 Des a disservice) if I said that’s what I thought I was doing. Choosing a tactic for your addressable market.

Dear Strategy: 073 Strategy Career Questions (Part 3 of 3)

Dear Strategy

Dear Strategy: “How do I evaluate a Product Manager to Product Marketing Manager career transition?”. . In some circles, the roles of product manager and product marketing manager are one and the same; effectively meaning that, for companies that take this approach, one of these titles simply would not exist. Dear Strategy: Episode 073. ###. Are you interested in strategy workshops for your product, marketing, or business managers?

Developing A Product Vision and Strategy

Actuation Consulting

Over the past few weeks we’ve considered a number of key product management tools. Today we will look at two of the most important: the Product Vision and Product Strategy documents. Defining a Product Vision Document. The Product Vision document looks into the future. It presents a 30,000-foot view of what you plan for the product to be in the future and its anticipated value. The Role of the Product Strategy Document.

Dear Strategy: 072 Strategy Career Questions (Part 2 of 3)

Dear Strategy

Dear Strategy: “How do I evaluate a job opportunity that moves me from SaaS products to on-premises products but is one of the CEO’s initiatives?”. . SaaS” stands for “Software as a Service” and is a term that refers to any cloud-based software product that is sold on a subscription basis. This is the more traditional type of software product that is installed on and run from a user’s computer. Dear Strategy: Episode 072. ###.

Dear Strategy: 067 Product Manager Strategies

Dear Strategy

Dear Strategy: “What are the strategies, tactics, and operations for product managers?”. . Whenever someone refers to “strategies, tactics, and operations” or “strategies, tactics, and execution,” I assume they are talking about some type of an overall strategy that essentially consists of those three basic parts. The question is, where should a product manager sit on this scale? The purpose of a strategy is to provide context for your actions.

Dear Strategy: 068 Involving Your Employees In Your Strategy

Dear Strategy

Dear Strategy: “To what degree should an organization involve the entire workforce and employees in the development and execution of its strategy?”. So, if you are working in a small company (meaning 2-20 people or so), my answer to this question of who you should get involved in your strategy is “just about everybody.” ” Of course, that doesn’t mean that everyone needs to come to a consensus when developing your strategy.

Dear Strategy: 071 Strategy Career Questions (Part 1 of 3)

Dear Strategy

Dear Strategy: “How do I evaluate job opportunities between large but worse performing products vs. small but not yet proven products?”. . Because, hey, strategy isn’t only about business, it’s also about life! Many of you who follow some of my other endeavors may know that, when I’m not writing or teaching about strategy, I’m composing music and soundtracks. Dear Strategy: Episode 071. ###.

Product Marketing or Product Management

Pragmatic Marketing

The job titles product marketing manager and product manager are confusing enough to start raging debates about who does what. From a product perspective, we can simplify this as current products, next products and future products. Roles Before Titles.

Growing up Lean: Lean Strategies for Maturing Products

Mind the Product

Building an MVP and launching a product is actually the easy part. The Product Lifecycle. We all know the product lifecycle chart. Product Lifecycle. But in reality, it’s not where most product managers spend their time. Step 1: Set your product vision.

Re-Routing Your Growth Strategy: What Got You Here Won’t Get You There!

Proficientz – Product Management University

But eventually products commoditize, markets shift and the law of diminishing returns kicks in. The ideal time to re-route your growth strategy is before your growth starts to taper off. Even though your products may be horizontal, a vertical market growth strategy will aim your organization at the market segments that are spending the most money on your category of products and services. 6. Market & Sell Your Industry Credibility.

How to Design Your Customer Validation to Maximize Product/Market Fit

Sachin Rekhi

In my previous post I detailed how I typically go about documenting the initial set of product/market fit hypotheses for an early stage startup and each of the key elements that are important to capture as part of it. Acquisition Strategy. Monetization Strategy.

Dear Strategy: 070 Interacting With Your Customers

Dear Strategy

Dear Strategy: “How do you work/interact with your customers, so you can get ahead of their needs and bring about the desired results?”. . and I am, in fact, very appreciative of all the product and business managers who are attempting to put the needs of their customers above the needs of their companies. I’ve been delivering workshops to corporate product management teams in some form or another for the past 6+ years. Dear Strategy: Episode 070. ###.

Dear Strategy: 074 Jobs To Be Done (and Other Frameworks)

Dear Strategy

Dear Strategy: “How do I best operationalize the ‘Jobs To Be Done’ framework in my everyday strategy work?”. . The idea behind the “Jobs To Be Done” framework (often referred to as JTBD) is that innovators (and marketers) should think about their products in terms of what “jobs” their customers will ultimately be hiring those products to do. Ironically, a core part of the JTBD framework is that customers will hire the right product to do the right job.

Dear Strategy: 069 Determining Competitive Use Cases

Dear Strategy

Dear Strategy: “When studying a competitor, how do you really determine the use case for their product?”. . It wasn’t until I actually researched these terms for the strategy book that I wrote, when I actually realized they had two very different meanings – with “objectives” being the measurable goals you want to achieve, and “initiatives” being the way you intend to achieve them. In other words, “why would a customer use a given product?”

Dear Strategy: 060 Is Strategic Planning Dead?

Dear Strategy

Dear Strategy: “Is strategic planning dead?”. . My interpretation of his position is that business strategy is not something you can execute based upon some predictable analytical formula. That is, anticipating where the market is going, predicting what the competitors are likely to do on a larger scale, and planning to build up the company’s capabilities to be able to drive the market rather than simply reacting to it. Dear Strategy: Episode 060. ###.

A Lean Alternative to a Business Plan: Documenting Your Product/Market Fit Hypotheses

Sachin Rekhi

It championed the creation of minimal viable products (MVPs) as well as pivots when necessary to quickly adjust directions. Here is what I typically capture when initially documenting a startup's product/market fit hypotheses: 1. Acquisition Strategy.

Dear Strategy: 063 Sorting Out Feature Requirements

Dear Strategy

Dear Strategy: “How do you sort out the specific features of product requirements from tons of information gathered from market insights, customer, industry, competitors, etc.?”. . I mean, we’re always talking about gathering insights about the industry, market and your own company, and then using that information to develop some sort of a future plan. The whole point of a strategy is to gather information and then use that information to make decisions.

Dear Strategy: 064 Customer vs. Business Needs

Dear Strategy

Dear Strategy: “How do you prioritize the needs of the customer versus business needs to develop a business strategy?”. . And it is this core issue that needs to be reconciled within the context of your company’s overall strategy. If that is truly the mantra that your company wants to live by, then your strategy needs to reflect that sentiment – top to bottom and in every action that you take. Dear Strategy: Episode 064. ###.