5 Proven Strategies For a Successful Analytics Product Launch

49
GoodData Confidential. 2013 GoodData Corporation. All rights reserved. June 10, 2014 5 Proven Strategies to successfully launch an analytics product

Transcript of 5 Proven Strategies For a Successful Analytics Product Launch

GoodData Confidential. 2013 GoodData Corporation. All rights reserved.

June 10, 2014

5 Proven Strategies to successfully launch an analytics product

GoodData Confidential. 2013 GoodData Corporation. All rights reserved.

Kevin Smith, NextWave Performance

Speakers

Cory Vander Jagt, GoodData

GoodData Confidential. 2013 GoodData Corporation. All rights reserved.

Our Discussion

▶Overview ▶Considerations for Success ▶ Monetization Pathway What we see Case Studies ▶ Questions and Answers !

!

!

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

GoodData is a business analytics Platform as a Service (PaaS) that supports the entire lifecycle of data and analytics, from storage

and data governance to data discovery. !

What Is GoodData?

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

GoodData Corporate Overview

▶ Serving 40,000+ companies ▶ Nearly 300 employees, including 150 engineers ▶ Founded in 2007 ▶ $75.5M in funding ▶ Headquarters in San Francisco ▶ Other offices in Boston, Portland, Prague, Brno !

!

!

!

GoodData Confidential. 2013 GoodData Corporation. All rights reserved.

Our Customers Think BIG

How do I use analytics to

transform my business?

How do I get critical analytics to

my customers?

What data am I not capitalizing on

yet?

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

Embedded Analytics Powered By GoodData

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

40,000+ DWHs under management

99.5% Uptime SLA

85% Adoption

Terabytes of Data under management

100+ Powered By Partners

1,500,000 Data integrations per week

72k

Users at one partner

Security Certified

OUR GOODDATA

GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 9

Managing Partner/Co-Founder NextWave Performance

NOW

VP, Product Management/Service Design International Asset Systems

Managing Director EffectiveUI

Director, Solution Design SAP Labs

VP, Product Management Retreon

Sr. Director, Engineer Program Management Qwest (LCI). . .

BEFORE Sr. Director, Product Strategy & UX ServiceSource

I’m Kevin Smith

GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 10

This is NextWave Performance

Based in Denver, CO ∙ Established 2005

Product strategy

Performance strategy

“What should this product do and for whom?”“How can I optimize my services and processes”

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

I’ve implemented “Powered By” four times

11

International Asset Systems “Dispatch Manager”

Ad hoc analytics for container logistics

International Asset Systems “Equipment Repair”

Ad hoc analytics for inventory repair

ServiceSource “Renew OnDemand” Offline analytics for sales renewals

DemandBase “Performance Manager”

Analytics for ad campaign management

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

My GoodData implementation statistics

number of successful Powered by GoodData implementations

12

490

100

average days it took from project concept to project implemented

percent of time GoodData was ready before any other part of the product

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

% of times go-to-market issues have had been more problematic than technical issues

13

100

And…

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

Poll -

Which best describes your company? 1 - Evaluating embedded analytics or a white-label offering 2 - Currently in the development phase 3 - Development complete, pre-launch 4 - One or more products in market 5 - Don’t know / unsure

Type Your Answer In The Q/A Box

GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 15

How do you avoid the major go-to-market mistakes for a Powered By product?

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

You need to plan beyond just the technical detailsDetermine

vision for the analytics within

core product

Perform persona

definition/key questions

Define initial db’s/metrics/

reports needed for personas

Identify data sources for analytics

Perform initial data extracts

Define internal processes

(provisioning, support)

Create initial project

Create ETL processes

QA all calculations for metrics/reports

QA ETL process

Provide training to Sales and

Support teams

Modify contract language (3rd party, SLAs, bench, etc)

Have customers sign

updated contracts

Establish on-going training

system

Sign-off on metrics/reports

Sign-off on ETL

All contracts updated

Update collateral,

logos, ads, etc.

Perform friendly

customer betaGather beta

feedback

Fix issues/roadmap

needs

Start

Ready to on-board users

Implement SSO

Embed BI system in

iFrame in appPerform QA

Determine integration with

product

Determine go-to-market/offer

package, pricing

Develop rollout plan

Pricing strategy

QA inadequate

Marketing plan

Training plan

Customer beta

Change management

Product Definition

1User

Definition

2

Selling plan

3

Legal details

5

Support processes

4

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

!

The Five Proven Strategies for a Successful

Analytics Product Launch

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

Know how BI will fit in with the existing product1

GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 19

What is the product?

Key Product Decisions We Really Should Have Considered Before Starting Implementation

Who gets to use it?

What’s the tiering/pricing structure?

Is GoodData white-labeled or black-labeled?

How is it sold (same contract, separate paper, etc.)

How are custom requests handled?

How are legacy customers brought on-board?

What is the business problem being solved though the addition of analytics?

1

GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 20

What is the product?

Product WorkshopKey Product Decisions We

Really Should Have Considered Before Starting Implementation

Who gets to use it?

What’s the tiering/pricing structure?

Is GoodData white-labeled or black-labeled?

How is it sold (same contract, separate paper, etc.)

How are custom requests handled?

How are legacy customers brought on-board?

What is the business problem being solved though the addition of analytics?

1

GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 21

• Decide what you want to be when you grow up

• Select your personas • Develop your pricing/tiering

model • Determine responsibilities • Identify boundaries

The Workshop1

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

Decide what you want to be

Framework from Reaching Escape Velocity, Geoffrey Moore, 2012

Differentiate

Neutralize

Optimize

Core Value Key Metric Main Challenge

Separation Unmatchable How far?

Comparability Good enough How fast?

Productivity Best in class How deep?

1

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

Because it determines your tactics

Framework from Reaching Escape Velocity, Geoffrey Moore, 2012

Differentiate

Neutralize

Optimize

If you choose Instead of You get

Parity with the competition

vsUnmatchable functionality →

Squandered resources as

competitors quickly catch up

Best-in-class vsGood

enough →Wasted budget

Good enough

vs Best in class →Higher operating

costs than the competition

In this mode

1

GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 24

What do you mean by BI?1

You keep using that word. I do not think it means what you think it means.

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

Category Types of Analytics Questions Answered

Prescriptive • Optimization

• Randomized testing• What’s the best that can happen?

• What happens if we try this?

Predictive • Predictive modeling/forecasting

• Statistical modeling• What will happen next?

• What is making this happen?

Diagnostic • Data exploration

• Intuitive visuals• Why did this happen?

• What insights can I gain?

Descriptive• Alerts

• Query/drill-down

• Ad hoc reports/scorecards

• Standard reports

• What actions are needed?

• What is the problem?

• How many, often, where?

• What happened?

SOURCE: Disambiguating Analytics, July 2, 2013, Sanjeev Kumar, International Institute for Analytics

SOURCE: Magic Quadrant for Business Intelligence and Analytics Platforms, February 5, 2013, Analyst(s): Kurt Schlegel, Rita L. Sallam, Daniel Yuen, Joao Tapadinhas

Capa

bilit

y

25

What do you mean by BI?1

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

Stuff We Won’t Do

Stuff We Won’t Do

Stuf

f We

Won

’t D

oStuff W

e Won’t D

oSet your product boundaries1

The Product

Stuff We’ll Do as Part of the Core

Product

Stuff We’ll Do for an Extra Fee

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

Sample pricing & tiering plan

Standard

• Included for all customers

• Uses standard project/template

• No customization

• Users cannot modify dashboards

• No internal or external benchmarking

• 1 year historical data

Plus Pro

• Upgrade from Standard

• Uses standard project/template

• Customization for an additional fee

• Users cannot modify dashboards

• Internal benchmarking included — no external benchmarking

• 2 years historical data

• Upgrade from Standard/Plus

• Uses standard project and is customized per customer needs

• Users can modify dashboards

• Includes external benchmarking

• 3 years historical data

+25% +50%

1+5%

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

Go minimal first and evolve1FULL PREDICTIVE for version 1.0!

● De-risks decisions

● Establishes a roadmap for future development

● Allows for emergence

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

Know who the users are2

GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 30

Who is the user?

Potential BI Users

Your sales team

Your finance team

Your support team

End Users

Executive management

Mid-level management

Front-line users

Reporting analysts

Buyers

Executive sponsor

Implementation owner

Your operations team

2 31

2

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

Start with a personaRole or Job Title: VP Customer Advocacy Key Characteristics

“We need to know if customers are unhappy with our service, what aspects of our service, and what we can do to improve performance.”

• Looked to for answers • Is a trusted advisor to the Sales team • Focused on root cause analysis • Uses NPS to track performance

Frustrations and Pain Points

• I feel like I’m operating blindly until the quarterly reviews occur

• I have to rely on others to build reports to tell me what’s going on

• I focus on individual customers & issues that seem to be “hot” that day — I don’t know if these are the right things

• I worry that I’m not making any long-term improvements, just day-to-day tactical fixes

• It takes us way too long to identify trends and patterns in customer usage. By the time we see them, it’s too late..

Questions Other applications Feature requests

• Is customer health trending up or down and why?

• Are there global issues that I can correct to improve retention?

• If I fix the issues, how much uplift do I get?

• How do we compare to everyone else for retention and customer satisfaction?

• SurveyMonkey • MS Excel • NPS tools (Verint, Vovici) • Tableau

• Allow customers with high value and potential issues to be made easily identifiable

• Show trends over time globally, for segments, products, and specific customers.

• Show how I perform relative to peers • Allow me to track corrective actions made

and the resultant performance shifts.

Jon

2

GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 32

Use persona questions to determine dashboard and chart priorities

AnalyticGroupNeedPersona

CMO

Marketing Manager

Sales VP

See long-term trends

Understand how budget is spent

ID underserved opportunities

View team performance

Increase customer interest

Neutralize competition

CMO Dashboard

Chart 1Chart 2Chart 3Chart 4Chart 5

Chart 1Chart 3Chart 4Chart 6Chart 7

Chart 1

Chart 7

Marketing Dashboard

CMO Dashboard

Marketing Dashboard

2

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

Define the Sales rollout strategy3

GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 34

How to mess up the sales rollout

1 Failure to provide a schedule

2 Poor communication of capabilities

3 Failure to provide training

4 Lack of boundary details

5 Allowing early demos

now, with 100%

more analytics!

3

GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 35

Making Sales successful

• Conduct multiple training sessions (awareness, functionality, processes)

• Keep a running “master metrics list” that all internal users can access

• Prepare “plain-English” definitions for each report, metric, dimension, filter

• Incorporate GoodData training into the core app’s training processes

3

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

Put support processes in place4

GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 37

Support processes are key to success

SaaS

Ser

vice

s/D

ata

Man

agem

ent

Prov

ision

ing

Trai

ning

Supp

ort

Mar

ketin

g

Fina

nce

Cha

nge

Man

agem

ent

Core Product

BI FunctionalityCompanies focus on this…

…and forget about this (until it’s too late)

4

GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 38

Getting the processes right4

Workshop brainstorm

Build mind map of tasks

Create project plan

Make people accountable

Conduct status reviews

Do a walk-through (role-play)

Plan for issues (FMEA/RACI)

EVERYTHING ready?

Launch!

FIX!

yes

no

GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 39

Planning for problems4

Process Step

Component(s)

Effected

Failure Mode

Potential Effects

Severity of Failure (1 = low, 10 = high)

Probability of Failure O

ccurrence (1 = low, 10 = high)

Detection Control(s)

Description

Effective-ness of D

etection Controls (1 = high, 10 = low

)

Risk Priority Num

ber (RPN

)

Action Recom

mended Upon

Failure

Responsibility

#5: Submit order to Order Entry group

Order

Order not delivered within 24 hrs of signature

Order not entered into OE system on time

5 8 None 10 400

Contact Sales Rep to get contract delivered

OE manager

Failure Modes chart RACI Matrix

• “When a problem occurs, how are we going to respond?”

• “What kinds of problems might we expect?”

• “Who is responsible for each process step?” • “Who is accountable for each process step?” • “Who is consulted for a given process step?” • “Who is involved at each process step?”

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

Anticipate legal and contract scenarios5

GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 41

Avoiding pain from lawyers5

I hear you want to want implement a new product that requires me to re-visit all of our contractual obligations to customers.

By next week.

GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 42

Avoiding pain from lawyers

• Get the legal team in the loop early, update them often

• Ensure that the product’s SLA = analytics’ SLA

• Update contracts to reflect 3rd party data processing

• Consider having customers sign new contracts or amendments

• Think through benchmarkingimplications

5

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

Conduct product definition workshop and define how GoodData will fit in

Create personas and map to workflows

Define sales roll-out strategy

Brainstorm impacted processes, build a plan, review progress regularly

Anticipate legal and contract scenarios

Recap: Strategies for a Successful Launch

4

1

2

3

5

GoodData Confidential. 2014 GoodData Corporation. All rights reserved.

▶ End-to-end program designed from a partnership POV ▶ 100+ implementations = best practices ▶ 50+ unique business models in place ▶ NextWave is available for deeper consulting

Powered By GoodData is a Program

LAUNCH

Product Definition

Product Mgmt Engineering

Marketing/ Product Marketing

Support Sales

Ongoing Marketing & Product Enhancements

PROGRAM EXAMPLE

KEY GROUP

Product Rollout

Enablement

Cross-Functional Teams

GoodData Confidential. 2013 GoodData Corporation. All rights reserved.

Case Studies

Business Model !

Pricing Strategy !

Number of Products !

Uplift !

Result !

Subscription based License + Maintenance

A la carteIncluded in price

2

20% - 30%

11 verticals

20% - 80%

#1 reason people upgrade Fastest growing unit* managed service * self-service

GoodData Confidential. 2013 GoodData Corporation. All rights reserved.

‣  Anonymous benchmarking against industry peers

‣  Include CRM, ERP, and other data sources

‣  Out of the box reporting

‣  Simple dashboards ‣  Basic filtering

1 2 3 4 ‣  Out of the box

reporting ‣  Simple dashboards ‣  Basic filtering

‣  Custom reporting & dashboards

‣  Ad hoc reporting ‣  Filtering ‣  Refresh interval ‣  Notifications

‣  Anonymous benchmarking against industry peers

‣  Include CRM, ERP, and other data sources

Basic Analytics

Premium Analytics

Benchmarking

Additional Data Sources

Powered By GoodData Pathway

GoodData Confidential. 2013 GoodData Corporation. All rights reserved.

‣  Anonymous benchmarking against industry peers

‣  Include CRM, ERP, and other data sources

‣  Out of the box reporting

‣  Simple dashboards ‣  Basic filtering

1 2 3 4 ‣  Out of the box

reporting ‣  Simple dashboards ‣  Basic filtering

‣  Custom reporting & dashboards

‣  Ad hoc reporting ‣  Filtering ‣  Refresh interval ‣  Notifications

‣  Anonymous benchmarking against industry peers

‣  Include CRM, ERP, and other data sources

Basic Analytics

Premium Analytics

Benchmarking

Additional Data Sources

“The #1 reason our customers upgrade.”

“Upsell at the click of a button.”

“Building a $10M+ business practice.” LEADING MEDIA AGENCY

“Instant dashboards.”

Pathway in Practice

GoodData Confidential. 2013 GoodData Corporation. All rights reserved.

Questions?

GoodData Confidential. 2013 GoodData Corporation. All rights reserved.

Thanks!kevinmichaelsmithcvanderjagt

www.gooddata.comwww.nextwaveperformance.com

[email protected] [email protected]