What winning product teams are doing right in today's economy
description
Transcript of What winning product teams are doing right in today's economy
lWelcome to What winning product teams are doing
right in today’s economyInnovation Management Solutions
right in today s economy
Today’s presenter: Tom GrantForrester Senior Analyst
Association of International Product Marketing and Management
1
Forrester Senior AnalystMay 28, 2009, 10am Pacific, 1pm Eastern
T h i l h l
Get the most from this webinarTechnical help
Virtual Classroom Technical Issues• US & CDN Dial: 800.263.6317
• Direct Dial: Country Code+1‐805‐690‐5753
Phone Issues• Press *0 to Contact Our Operator
Ask a question• Two ways to ask a questiony q
• GoToWebinar
• Locate question window at right
• Type your question (Enter a question for staff)
Innovation Management Solutions
yp y q ( q )
• Press "send“
• Use Hashtag #acceptsoftware
Association of International Product Marketing and Management
2
g p
• Questions will be answered at the end of the webinar
The innovation imperative
• The importance of getting it right• The need for certaintyThe need for certainty• Listening to your market• Web 2 0 enabling new solutionsWeb 2.0 enabling new solutions
Innovation Management Solutions
Association of International Product Marketing and Management
3
What winning teams areWhat winning teams are doing right in today’s economyeconomyUsing social media to power innovationg p
Tom GrantTom GrantSenior AnalystForrester ResearchMay 28, 2009
Innovation is both anart and a science. Socialmedia help with both.
5 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
Agenda
• Innovation and its discontents
Th i f i l di• The promise of social media
• Next steps
6 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
Agenda
• Innovation and its discontentsTh i f i l di• The promise of social media
• Next steps
7 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
Innovation, we hardly knew ya
How we wish i ti ld kinnovation could work
INVENTOR CONSUMERINVENTOR CONSUMER
8 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
Innovation, we hardly knew ya
IDEATIONOther people inIt’s not just for
engineers any more.
Other people in your company
Customers andpartners
9 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
Innovation, we hardly knew ya
INVENTIONI —It requires perspective—on the technology, the
use case and thebusiness case
use case, and thebusiness case
INVENTOR INTERNAL STAKEHOLDER
Is this a good fit for our company?What’s in it for us?
What’s in it for the customer?
10 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
What s in it for the customer?
Innovation, we hardly knew ya
ADOPTIONIt’s not strictly under
your control.
Do we understand what you’ve built?Does it address our problem?
11 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
pWho makes the decisions to buy or implement?
Actually, we did sorta know you
SOURCE: Everett Rogers, The Diffusion Of Innovation (1964)
12 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
Bad information cripples innovation
IdeationIdeation InventionInvention AdoptionAdoption
Unrepresentative samplesUnrepresentative samples
Undersized samplesUndersized samples
Customers you already knowCustomers you already know
Features, not use casesFeatures, not use cases
Don’t understand usersDon’t understand users
Don’t understand stakeholdersDon’t understand stakeholders
Sporadic data collectionSporadic data collection
13 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
The trough of ignorance
Active datacollection fromtarget customers
IDEATION INVENTION ADOPTION
14 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
Bad information cripples innovation
• EXAMPLE: The customers you already knowIdeation Fanbo ism– Ideation: Fanboyism
– Invention: Market development
Ad ti N d t k h ld– Adoption: New users and stakeholders
15 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
Traditional sources should worry you
Top 3 Sources Limitations
Customer meetingsCustomer meetings A lot of work for a small sampleMay talk to the wrong userNot the customers you don’t have
A lot of work for a small sampleMay talk to the wrong userNot the customers you don’t have
E-mail feedback from customersE-mail feedback from customers
Incidental after-effectsYour language, not the user’sNot the customers you don’t have
Incidental after-effectsYour language, not the user’sNot the customers you don’t have
Bug reportsBug reports Incidental after-effectsTechnical issues, not use casesNot the customers you don’t have
Incidental after-effectsTechnical issues, not use casesNot the customers you don’t have
Source: June 16, 2008, “Improving Your Product Management Tools”
16 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
Agenda
• Innovation and its discontents
Th i f i l di• The promise of social media• Next steps
17 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
Good information helps innovation
INNOVATION CHALLENGEINNOVATION CHALLENGE HOW SOCIAL MEDIA CAN HELPHOW SOCIAL MEDIA CAN HELP
Unrepresentative samplesUnrepresentative samples
Undersized samplesUndersized samples
C t l d kC t l d k
Peruse a greater variety of sourcesPeruse a greater variety of sources
Enlarge the poolEnlarge the pool
G b d fG b d f
Don’t understand usersDon’t understand users
Customers you already knowCustomers you already know
Features, not use casesFeatures, not use cases
Hear what matters to themHear what matters to them
Go beyond your forumsGo beyond your forums
Listen to users directlyListen to users directly
Don t understand usersDon t understand users
Don’t understand stakeholdersDon’t understand stakeholders
Sporadic data collectionSporadic data collection
Hear what matters to themHear what matters to them
Understand the decision-makersUnderstand the decision-makers
Combine feeds and projectsCombine feeds and projectsSporadic data collectionSporadic data collection Combine feeds and projectsCombine feeds and projects
18 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
What do you mean by social media?
YOUR SITESYOUR SITES
19 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
What do you mean by social media?
OTHER PEOPLE’S
OTHER PEOPLE’S
SITESSITES
20 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
What type of question are you asking?
COREQUESTIONCOREQUESTION ASPECTSASPECTS
PROBLEMPROBLEMPersonaSolutionPersonaSolutionFor whom are we For whom are we
QUESTIONQUESTION
PROBLEM-CENTRIC
PROBLEM-CENTRIC
SolutionMarketInnovation
SolutionMarketInnovation
building technology?building technology?
PRODUCT-CENTRIC
PRODUCT-CENTRIC
PrioritizationInventionDesign
PrioritizationInventionDesignWhat technology
should we build?What technology should we build?CENTRICCENTRIC g
RoadmapCompetition
gRoadmapCompetition
should we build?should we build?
21 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
What type of data do you need?
IN-DEPTHIN-DEPTH
Understand the bigger context
Reach the “Aha!” moment
Understand the bigger context
Reach the “Aha!” moment
I fidI fid
Anticipate issuesAnticipate issues
AGGREGATEAGGREGATE
Increase confidence
Estimate business impact
Increase confidence
Estimate business impact
Identify and segment marketsIdentify and segment markets
22 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
Now, take your pick
Vendor f
Independentblogs
forumsVendor
innovation sites
Vendor bl
Independentforums
blogs
d d
T P
sitesblogs
Vendor Wikis
Independentnetworking
Social
RO
DU
C RO
BLE
Vendor code libraries Micro‐
blogging
bookmarking
Collaborativeaggregation
PREM
Vendor
Vendor subscription
bloggingOpen sourceprojects
Independent
23 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
networkingp
code libraries
Agenda
• Innovation and its discontents
Th i f i l di• The promise of social media
• Next steps
24 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
Define the problem you want to solve
• Long-term– Where can social media do the most good?Where can social media do the most good?
•EX: Not breaking out of our current market
– What are the measurable outcomes?
•EX: Can reach decision on new market, strategy for entry in no more than 3 months
Sh t t• Short-term– How can we best get started?
•EX: Understand people with similar use cases in an adjacent•EX: Understand people with similar use cases in an adjacent market
– What are the measurable outcomes?
25 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
•EX: Identify and profile all personas involved in new use case
Be methodical about how getting answers
Who is the target user or stakeholder?Wh t bl d th f ?Who is the target user or stakeholder?Wh t bl d th f ?PERSONAPERSONA What problems do they face?What tasks do they perform?What problems do they face?What tasks do they perform?
How do people in this demographic use i l di ?
How do people in this demographic use i l di ?LOCATIONLOCATION social media?
Where can I find them?social media?Where can I find them?
What is the question that we want to pose?Wh h i hi h ’What is the question that we want to pose?Wh h i hi h ’OPTIONSOPTIONS What are the options among which we’re choosing?What are the options among which we’re choosing?
How do we get a credible, actionable How do we get a credible, actionable TESTTEST answer?answer?
26 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
Success requires investment
• New sourcesSome sponsored some disco ered– Some sponsored, some discovered
• New roles– “Community manager”
– Assists both inbound and outbound
• New skills– Social scientific disciplines (aggregate, in-depth)
– Does your team have them?
27 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
Success requires investment
• New deliverables– Personas use cases solution architecturesPersonas, use cases, solution architectures
– Reports, dashboards
• New projectsNew projects– Ongoing research
– Incidental research
– Skills upgrade
• New tools– Accelerate, simplify the process
– Translate into actionable product terms
Fit i t tf li
28 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
– Fit into your portfolio
New information management challenges
COLLECTION ANALYSIS DECISION COMMUNICATIONCOLLECTION ANALYSIS DECISION COMMUNICATION
Are we lookingat the rightsources?
How do wemake senseof the data?
Are we usingthe data theright way?
How do we sharethe data and our
decisions?
29 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
Stages of an inbound social media strategy
PM skillsexpansion
Goals forsocial media
Pilot social
expansion
Changes to
Productdecisions
PM skillsinventory
Pilot socialmedia project
Changes toPM roles
Future S.M.First major
S.M. projectsprojects
INITIATION PILOT ADJUSTMENT LAUNCH
30 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
Make innovation work
ADOPTIONINVENTIONIDEATION ADOPTIONINVENTIONIDEATION
Capturing, understanding, Deciding what
Finding thepath to g,
and evaluatingideas
gto build
pthe user
Seeking inspiration through d di
Making thebusiness case for b ildi i
Ensuringsuccessfuladoption
31 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
understanding building it
Thank you
Tom Grant
+1 650.581.3846
http://blogs.forrester.com/product_management
@TomGrantForr@TomGrantForr
32 Entire contents © 2009 Forrester Research, Inc. All rights reserved.
Questions and Discussion
• Two ways to ask a question
• GoToWebinar
• Locate question window at right
•Type your question (Enter aType your question (Enter a question for staff)
• Press "send“
•Use Hashtag #acceptsoftwareInnovation Management Solutions
Use Hashtag #acceptsoftware
Association of International Product Marketing and Management
Thank you for attending
Webinar replay Visit www.acceptsoftware.com in the next few days
Upcoming webinars• Upcoming webinars will be announced shortly on
www.acceptsoftware.comwww.acceptsoftware.com
Invitations will be sent out soon, or visit Accept and AIPMM websites over the coming weeks for more
Innovation Management Solutions
g finformation.
Association of International Product Marketing and Management
34