Vancouver ProductTank May 2015
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The document discusses five "levers" that product managers can use to improve their products and move the needle on key metrics. These five levers are: 1) Increasing new customer acquisition rates, 2) Increasing win rates for deals, 3) Increasing the average revenue per customer through upsells and cross-sells, 4) Increasing prices, and 5) Increasing customer satisfaction. The document urges product managers to consider how their product strategy and roadmap affect each of these levers.
Vancouver ProductTank May 2015
- 1. Moving The Product Needle The biggest challenge facing product management is not only selecting the right feature, but the right set of features. Here are the "5 levers" and how you can use them to move the needle. By Stewart Rogers linkedin.com/in/rsrogers
- 2. STEWART ROGERS Stewart is a recognized thought leader and advocate of building world-class product teams that bring a market-driven focus to technology organizations. With more than 15 years of product management experience he has been building products that deliver sustainable results and increased customer satisfaction levels. He is a Pragmatic Marketing Certified and Certified ScrumMaster. @StewartRogers productcampvancouver.org linkedin.com/in/rsrogers
- 3. OBJECTIVE TONIGHT • Simplify the concepts to validate vision and roadmap from a business perspective • Answer WHY or WHY NOT
- 4. WHAT IS PRODUCT MANAGEMENTS PRIMARY OBJECTIVE?
- 5. What is my product strategy for each? WHAT IS YOUR REVENUE GOAL Lost CustomersActive CustomersFuture Customers NEW CUSTOMER ACQUISITION UPSELL CROSS SELL WIN LOSS PRICING CUSTOMER SATISFACTION How does my strategy affect each?
- 7. ASK YOURSELF… How are we going to grow new customer acquisition? New geographies? New industries? Up or down market? NEW CUSTOMER ACQUISITION
- 8. ASK YOURSELF… How are we going to improve win rates? How are we going to improve retention rates? Missing features Incomplete features Poor features Poor or missing Service WIN LOSS
- 9. ASK YOURSELF… How are we going to increase the average revenue per customers? New add-ons or modules? New pricing options? Cross sell products? Price increases? UPSELL CROSS SELL PRICING
- 10. ASK YOURSELF… How are we going to increase customer satisfaction? CUSTOMER SATISFACTION
- 11. How do you measure customer satisfaction? CUSTOMER SATISFACTION
- 12. 1. Increase customer acquisition rates 2. Increase win rates 3. Increase average deal size 4. Increase price 5. Increase customer satisfaction In Summary… The 5 Levers
- 13. Moving The Product Needle @StewartRogers productcampvancouver.org linkedin.com/in/rsrogers