Social Product Management Presentation - TPMA - Jan31/12
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Transcript of Social Product Management Presentation - TPMA - Jan31/12
Social Product Marketing & Management
Paul DombowskyCEO - Ideavibes
Anastasia ValentineCEO – Sandbox PM
The Ideavibes Crowd Engagement Platform™ enables organizations to create crowdsourcing and crowdfunding campaigns that use the power of social media and tapping into the wisdom of crowd to strengthen relationships through engagement and participation. It’s about starting innovative projects, building better products, setting new directions and being more crowd- or community-focused, funding worthy initiatives and sparking social change.
About Us!
Sandbox PM, an idea to launch company provides all sizes of organizations with support and services from idea through to launch. Taking the role of your extended team, Sandbox PM will play a hands on role in your success in introducing your company, products and services to the market.
Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.
The Ideavibes Crowd Engagement Platform™ enables organizations to create crowdsourcing and crowdfunding campaigns that use the power of social media and tapping into the wisdom of crowd to strengthen relationships through engagement and participation. It’s about starting innovative projects, building better products, setting new directions and being more crowd- or community-focused, funding worthy initiatives and sparking social change.
About Us!
Sandbox PM, an idea to launch company provides all sizes of organizations with support and services from idea through to launch. Taking the role of your extended team, Sandbox PM will play a hands on role in your success in introducing your company, products and services to the market.
Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.
Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.
The Product Manager is the hub of information and activity for any
products company.
Social Business Strategy
VisibleAccessibleMobile
ReliableValuableTrusted
Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.
It is not enough to be present, you must engage & be
engaging!”
People are talking
Copyright ©2011 Sandbox PM. Reproduction in whole or part not permitted without written consent.
ConversationsProducts
Services
People
Company
Events Trends
Innovation
Features
Pain points
Competition
Are you listening?
Traditional OLD Engagement
Product Managem
ent
Known Customer
s
Usability tests
Beta Programs
Surveys
Copyright ©2011 Sandbox PM. Reproduction in whole or part not permitted without written consent.
Marketing
Reach
Direct Mail
Physical Events
Telemarket-ing
Social Media
Online AdsBlogs
Online Influencer
(s)
SEO
Virtual Events
Mobile
Copyright ©2011 Sandbox PM. Reproduction in whole or part not permitted without written consent.
Product Manageme
nt
Customers
Advisory Boards
Technology
Trends
Industry Trends
Competition
Partners
Prospects
Crowd sourcing
Stake-holders
Investors
Influencers
Analysts
Copyright ©2011 Sandbox PM. Reproduction in whole or part not permitted without written consent.
Product Management Gets SocialCreate social media conversations for:
◦Idea/Requirements gathering◦Validation (strategy, requirements,
usability +)◦Use Cases, User Stories◦Persona development◦Beta recruitment◦Success stories◦Testimonials◦Usability / Product Appeal◦Scalability
Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.
Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.
“An outside-in approach increases the likelihood of
product success.” - Pragmatic Marketing
When and How To Get Social?
When – ALL THE TIMEHow?
◦Target◦Join in◦Listen & Observe◦Attract & Engage ◦Repeat
Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.
TargetTarget your ideal crowd of:
◦Influencers◦Like minded◦Prospects◦Customers◦Partners◦Competitors
How?◦Profiling◦Research
Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.
The Social Media Influencer
Credibility in the marketLarge, qualified followingHeavily engaged with their
audienceReliable & consistentInformation consistently shared
by followingTrusted by your targets
Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without writ.ten consent.
Don’t underestimate the power and value of a social media influencer.
Join in!
GO! Join in!Ask your crowd where they goResearch where your
industry/competitors goFocus & only go where your
targets go◦Join◦Like◦Follow◦Connect◦Share
Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.
Listen & Observe
Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.
Listen for:◦Market needs / pain◦Trends (technology & industry)◦Feature requests◦“delight the customer” opportunities
Observe for:◦Influencers◦New players◦Tactics that work / & don’t◦Competitor #fails
Listen & ObserveMost popular
listening/observation posts:
◦Twitter Follow your target(s) Monitor their hashtags (#)
◦Linkedin Join all industry & subject matter
groups Connect to all of your known peers Follow target companies
Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.
Attract & Engage!Create a reliable pattern of engagement
◦ Ask meaningful questions (daily)◦ Answer relevant (high visibility) questions
(daily)◦ Provide meaningful information (daily)◦ Declare a call to action (daily)◦ Follow up & follow through◦ Invite to participate
Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.
Be Socially Responsible!
“YOU SAID WHAT?!?”
Right person in the social roleClear rules of engagement Empowered & trusted to respondKeep it Simple Sir/Sista (KISS)
Social Product Management ROI
Measure Numbers! (they never lie)◦Followers
# of followers, likes, people in circles, etc.
◦ Ideal Follower # of qualified followers, likes, people in circles,
etc.
◦ Influencers # of influencers in your space
◦Reach # of shares, +1’s , tweets, favorites, etc…
◦Conversions # of signups, transactions, revenue, attendance,
etc..Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.
Social Product – ROI – How To!1. Create your social campaign2. Create some educated
measures of ROI3. Let the campaign run for 2
weeks4. Measure your ROI5. Course correct & refine ROI
goals6. Measure well & measure often
Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.
Be RUTHLESS. If it isn’t generating value or converting, it is COSTING
you money.KILL IT & try something else!
Social Product – ROI – How To!Time to invest (Time)
Research Campaign Engagement
Money to spend (Money)
Tools / Platform Promotions / Advertising Memberships
Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.
Time + Money = INVESTMENT
Conversions = RETURN
RETURN – INVESTMENT = ROI
If ROI is >0 Then Keep GOING!If ROI is <0 Then STOP & RETUNE
Positive Social Disruption!Follow all of your competitors SM AccountsMonitor all competitive
◦ Forums◦ Hashtags
Get on your competitors◦ Mailing lists
Attend your competitors◦ Webinars◦ Tradeshows◦ Twitter chats◦ Google Hangouts◦ Etc.
Copyright ©2011 Sandbox PM. Reproduction in whole or part not permitted without written consent.
Disrupt Business as UsualNOT FOR THE FAINT OF HEART
OR THE CONSERVATIVERespond to competitive feature
requestsPositive engagement on competitive
hashtagsMonitor competitor
weaknesses/complaintsProvide solutions to competitive
product problems
Copyright ©2011 Sandbox PM. Reproduction in whole or part not permitted without written consent.
Positive Disruption is great. Negative disruption is bad
business.
Fixing a #FAIL
Copyright ©2011 Sandbox PM. Reproduction in whole or part not permitted without written consent.
WHAT TO DO IN A “SITUATION”
Copyright ©2011 Sandbox PM. Reproduction in whole or part not permitted without written consent.
ACKNOWLEDGE
OWN
ADDRESS
REPORT BACK
DefinedCrowdsourcing is an engagement process whereby organizations seek input from either open or closed communities of people, either homogenous or not, to contribute ideas, solutions, or support in an open process whereby the elements of creativity, competition and campaigning are reinforced through social media to come up with more powerful ideas or solutions than could be obtained through other means.
Why Bother?Organizations have a difficult time engaging with their communities to strengthen their relationship and be citizen focused. Internal or external, the community has ideas that can be harnessed that come from diverse backgrounds, experiences and education.
What is Crowdsourcing?
31
InternalExperts
Emergent Experts(online community leaders,
product advocates)
Customers &Prospects
Who is your crowd?
32
EngagementTargets
Strong brands foster active crowds• Element of trust
• It only takes one disingenuous campaign to cause problems for you
• Transparency fosters participation• Social media footprint does matter• Prospects may have bought into your brand but not
your products yet – how are you keeping them engaged?
Does your brand matter?
33
The Appeal
34
• Crowdsourcing surfaces new perspectives• Invites participation from nontraditional
sources • Infuses real energy into the process of generating ideas • Empowers people when they feel their voice is being heard• Technology can enable participation by disenfranchised
(ie. PCs in libraries/shelters with citizen engagement campaigns)
• Builds engagement and relationships with new audiences
Crowdsourcing Pros and Cons
35
PROS• Reduced time to market
• Reduced risk due to early customer input
• Increased customer lifecycle value
• Broader source of innovation
• Strengthened brand through participation
• Organizations can’t have all the brightest people on staff
• Ideas don’t have to be discovered by internal R&D teams to be capitalized upon
• Benefits from varied experiences
CONS• Less control
• Needed trust not easily come by in some organizations
• Requires community management
• Suffers if crowd is too narrow
• Disruptive to traditional timelines for product roll outs
• First attempt is risky until you understand your crowd
• Need to know your target audience
IdeaStorm was created to give a direct voice to Dell’s customers and an avenue to have online “brainstorm” sessions to allow them to share ideas and collaborate with one another and Dell. Their goal through IdeaStorm is to hear what new products or services you’d like to see Dell develop.
In almost three years, IdeaStorm has crossed the 10,000 idea mark and implemented nearly 400 ideas!
36
Example 1: Innovation from the Crowd
Quirky is an all in one product development shop for inventors.
37
Example 2: Product Development from the Crowd
Threadless runs regular campaigns to select designs that are then produced and sold to a ready-made market that participated in the product selection.
38
Example 3: Product Selection by the Crowd
Starbucks uses the same platform as Dell and Salesforce.com for their social product development.
39
Example 4: Product Selection by the Crowd
Example 5: Salesforce
40
What do your current customers want to see on your roadmap?
What features are needed to turn prospects into customers?
Democracy?1 vote = 1 customer
Best Practices
41
• Have a clear strategy for using crowdsourcing• IP Ownership• Competitive visibility
• Break things down so crowd is clear what you are looking for• Build trust
• Be open in your communications about the crowd’s role in the process
• Do what you say you are going to do• ABEYC – always be expanding your crowd
• The crowd needs to be big enough – but not too big• ABRYC – always be refining your crowd
• Creating diversity is as important as creating size
Build a Social Product Strategy
42
• Reach customers & prospects where they live – join in the conversations that are happening already
• Capitalize on valuable customer and prospect insight• Develop a culture of collaboration• Implement the right social technology to get the job done• Communicate results and intentions and be open as
possible• Let conversations happen in the open• Be crowd friendly on an ongoing basis
• Easy to set-up and deploy• Able to run multiple campaigns at once• Can run Crowdsourcing and Crowdfunding Campaigns• Build stickiness and community around those that engage
(sign-in and see past votes, comments, ideas)• Hosted solution (in Canada)• Able to be implemented on existing website or set-up in new,
destination site• Social Media connected• One of few sub $1000/month solutions
Ideavibes Crowd Engagement Platform
43
How Does Ideavibes Compare?
44
• Enterprise Collaboration or Idea Management– Large – multi-functioning platforms for Idea Management– Integrated into change management and process improvement
lifecycles– Chaordix, Bright Idea, etc.
• Middle-tier Focused Crowdsourcing Apps– Purpose-built customizable apps focused on crowdsourcing– Narrow or wide focus– Multiple crowdsourcing and crowdfunding campaigns– Ideavibes, Spigit– Note – Ideavibes is only white label crowdfunding platform available
• Ad-hoc website or Social Media widgets– Developed by web teams with basic functionality– Functionality as opposed to business process driven
Resources
45
• The Wisdom of Crowds – James Surowiecki • Crowdsourcing – Jeff Howe• Crowdsourcing.org• Crowdsortium.org• The Daily Crowdsource
• Presentation will be on Slideshare by end of day today.
10 Day Product Launch Strategy
45
• Free @ www.sandboxpm.com
• Target your ideal customer• Develop marketing messages• Soft launching & customer testimonials• Pricing• Incentives & offers• Your marketing campaign• Spreading the word• Media attention• Systems go!• Launch day
Q&A
46
Calls to Action
47
• Download Ideavibes whitepapers on crowdsourcing and crowdfunding www.ideavibes.com
• Sign-up for a 45-Day Free Trial of the Ideavibes Platform at www.ideavibes.com
• Sign-up for the Sandbox PM Product Launch Program• Start a conversation with us about social product management or open
innovation and how it could work for your organization
Paul DombowskyIdeavibes+1.613.878.1681paul@ideavibes.comwww.ideavibes.com
Anastasia ValentineSandbox [email protected]
Thank you