Product Management Execution

UNDERSTANDING THE DELIVERY OF PRODUCTS AND SERVICES TO CONSUMERS

Execution Plans

1. BETA PROGRAM
2. LAUNCH PLAN
3. PRODUCT MARKETING PLAN
4. END OF LIFE (EOL) PLAN

What is a Beta Program?

 It is a set of tests designed to determine if a completed product fulfills the value proposition that
it was designed to deliver
 It should be executed after a product has been built but before it is launched.

Why is it important?

Once your product is developed, you’ll want to have a few customers test it to make sure that you
delivered what you thought customers asked for. In the Optimal Product Process, this is the Qualify
phase.

 Alpha Products – had the features, but lacked stability

 Beta Products – worked pretty well
 Golden Master – the final shippable product

Using the term beta program stuck because that’s when the product was good enough for customers to
test it.

Beta Program: Cycle

 1 WEEK – Set goals, write plan, and sign off

 3 WEEKS – Recruit and receive applications
 1 WEEK – Select, notify, and send agreement
 3-6 WEEKS – Run program
 1 WEEK – Conduct exit survey, tally results, and write final report

Dodging Typical Beta Program Mistakes

NOT BUILDING ENOUGH TIME INTO THE SCHEDULE FOR BETA TESTING

the time set aside for beta testing is often reduced dramatically at the very end, resulting in an
ineffective (sometimes nonexistent) beta program

CHOOSING BETA TESTING CUSTOMERS THAT DON’T REPRESENT THE ACTUAL CUSTOMERS

Friends and family often beta test. Though these people can provide some good feedback, don’t assume
that they’re representative of how your actual customers will use the product or of the kind of
environment customers will use it in on a day-to-day basis.

RUNNING A BETA PROGRAM WITHOUT PREDEFINED GOALS AND METRICS

Having some concrete metrics in place can help make your decision to cut corners at the very end of
development a far easier decision.

UNDERESTIMATING HOW DIFFICULT RECRUITING PARTICIPANTS FOR THE PROGRAM WILL BE

finding people who are dedicated, and willing to spend the time and effort required to provide useful
feedback is often far more difficult.

Beta Program Template

GOALS AND OBJECTIVES

What are you trying to accomplish? One goal should be that you’ll survey the beta testers at the end of
the program and find that a certain percentage of them (for example, 90 percent) indicate they believe
the product is ready to ship.

RECRUITING CUSTOMERS

Ask sales and support for friendly customers who like your product to participate.

INCENTIVES TO PARTICIPATE

Usually the “Help us improve the product” angle works to some degree. You may also want to offer free
or reduced pricing or upgrades. Another option is to have a contest to keep users motivated.

CRITERIA FOR STARTING THE PROGRAM

Check and double-check the installers, prepare a FAQ document so that participants won’t have to
contact you to get answers, and include documentation and help functions if at all possible.

SCHEDULE AND DELIVERABLES

What needs to be delivered to whom – and by when?

SUPPORT

Who is allocated to support customers through the beta program?

BUDGET

How much will this cost? Beta programs are usually not very expensive to run.

SUCCESS CRITERIA

When you’re ready to end the beta program, have the participants complete a short exit survey. Ask the
participants how much they used the product, what their overall impressions are, whether they believe
the product is ready to ship, and what can be improved.

OTHER

Risk Analysis, Assumptions, Open Issues, Document Approval and Core team members.

What is a Product Launch?

  It is a planned effort to bring a new product to market
 The goal is to make sure that everyone inside the company, your partners and target customers
know about your new product.
 If you don’t do the product launch effectively, customers won’t be aware of your solution, or
may potentially have a bad impression of your product, and you may not hit your revenue and
profitability goals.

PRODUCT LAUNCH STEPS AND TIMING

Launching your product is just as important as developing a great product. If you don’t do the product
launch effectively, customers won’t be aware of your solution, potentially have a bad impression of your
product, and you may not hit your revenue and profitability goals.

SOFT LAUNCH – Often products sold from one business to another launch this way.

MINIMAL LAUNCH – for smaller products or small incremental product changes, the minimal launch
gets the word out without a huge amount of marketing spend

FULL-SCALE LAUNCH – To let the whole target markets know about your product, aim for a full-scale
launch.

Product Launch Plan Template

EXECUTIVE SUMMARY

Summarize the goals of your campaign: company messages, product audience, goals for the launch, and
how you’ll measure the launch success. Identify key features of the product you’re launching here,
including features, functions, and system requirements.

PRODUCT DESCRIPTION

Include a brief description of the product (2-3 paragraphs) that describes what the product is, the main
features and benefits it provides and how it solves customer problems.

TARGET AUDIENCE
  Who is your target customer?
 Who are the product personas?
 What are your target market segments?
 What business segments are you targeting?

KEY MESSAGES

What are your key messages for the product? For your company? This information comes from the
messaging platform based on your product positioning.

CRITICAL SUCCESS FACTORS

Include the specific criteria that indicate that the launch has been a success. Include concrete and
measurable goals such as revenue targets, number of partners carrying the product, and channel
availability.

CRITICAL DATES AND MILESTONES

List all critical dates and milestones including product availability, finalizing product name, budget,
positioning, and press activities.

INTERNAL COMMITMENTS AND OWNERS

Who is allocated to support customers through the beta program?

MARKETING COMMUNICATIONS

What key marketing vehicles will work best for you given your budgetary constraints and your target
audience? This should include:

 Collateral materials: Datasheets, brochures

 Press events
 Tradeshows
 Publications
 Product evaluations
 Online communications
 Company web pages

MILESTONES

List an overall timeline of all activities in the launch plan that need to happen.

FINANCIALS AND LAUNCH BUDGET ALLOCATION

What is the budget for your launch plan? Provide a pie chart of how you’re allocating the launch budget
and give the details in a table.

OTHER

 Risk Analysis
 Assumptions
 Open Issues
  Document Approval
 Core team members

What is Product Marketing Plan?

 It describes the ongoing steps to continue generating market excitement and awareness for
your product after the product launch is complete.
 It is to create and maintain a high level of interest in your product, which leads to meeting your
sales and profit goals.
 It considers the customer’s decision making process and outlines the most effective way of
communicating with customers in their journey to buying

Sales Funnel

Customers go through a process before they purchase.

AWARENESS – How many people will be exposed to the product, and how many touchpoints do they
need before they take action?

INTEREST – Online search is best way for options. Even if they don’t know your brand or product,
customers come looking if their search terms are in the top three options that show up.

EVALUATION – Make sure that your marketing has a compelling call to action such as “Buy Now.” Don’t
forget to ask the customer to buy.

COMMITMENT – When people evaluate products, and have a positive experience, they become
increasingly likely to buy. Make the final buying process as easy as possible.

REFERRAL – Due to customer satisfaction, typically, consumers would want to share their satisfaction to
others by having them try out the product as well.

Product Marketing Plan Template

EXECUTIVE SUMMARY

A summary covering the market situation, key objectives, key strategies, and approaches to addressing
marketing objectives. What are the risks and the return on investment, and what is marketing’s
recommendation?

SITUATIONAL ANALYSIS

What is the market landscape? What happened in the past? What is the current opportunity and what
marketing resources (money, people) are available?

MARKETING OBJECTIVES AND STRATEGY

What are overall marketing objectives (and product specific ones, if necessary) and key marketing
strategies? Which markets does the company or division plan to target? Does marketing need to take
any other considerations into account? Product specific information in this section should come from
the market strategy and possibly the market needs documents.

PROGRAM MIX
In this section, marketing defines all your marketing mix components.

 Branding and messaging: How will marketing support your brand?

 Advertising: Document any and all advertising including online ad plans here.
 Social media plan: What social media outlets is marketing planning to use?
 Public relations: What are the public relations strategies?
 Direct mail/email: What are the direct mail and email plans? Does the marketing plan call for
sending out a regular newsletter or buy-in lists of potential new customers from list vendors?
What activities will marketing undertake to grow email lists?
 Trade shows and events: What events does marketing plan to support and how? Will your
company be there, or will marketing, Product Management and sales support a partner’s
efforts? What are specific goals and objectives for each event?
 Channel: What are sales and marketing’s plans for working with the channel? If marketing funds
are set aside as a percentage of sales, what is the best use of that money?
 Timelines: What happens when? Activities should be spread out so that there is a regular
cadence of marketing activity over time.
 Deliverables: What are the key deliverables? Videos? Collateral pieces? A new website?

BUDGET AND RETURN ON INVESTMENT (ROI)

What is the budget for marketing activities over a certain period? As a result of all these activities, what
is the expected ROI?

GOVERNANCE

Who are the core marketing team members? Who needs to approve this document?

RISKS, ASSUMPTIONS, OPEN ISSUES, EXHIBITS, AND APPENDICES

As with all documents, note the risks, assumptions and open issues and provide appropriate exhibits and
appendices.

What is Product End of Life (EOL)Plan?

 It is when a product is retired from the market. Retirement can involve completely pulling the
product from the market without replacing it or replacing it with a new version.
 Products may reach EOL due to technology changes that make the product obsolete,
competitive pressure that make the product no longer viable, or the product simply can’t meet
the required revenue or profitability thresholds.

Critical Factors in Creating a Product EOL Plan

LOYALTY – How will you maintain customer loyalty?

PHYSICAL CONCERNS – If it’s a physical product, what are the ramifications of discontinuing the product
in terms of inventory, channel partners, returns, or customer replacement and support?

RISKS – Are there any other risks associated with discontinuing this product, such as alienating longtime
customers or possibly creating a backlash on social media if customers are unhappy that you have
discontinued the product?
NEGATIVE IMPLICATIONS – Do you encounter any legal or contractual implications if you stop selling the
product? Have you promised customers anything that you won’t be following through on?

FINANCIALS – Is this product still profitable, or are you losing money on it? If it’s profitable, is it worth
the opportunity cost of spending resources to keep it in the market, or would these resources be better
spent on something newer that may have more growth and profit potential?

Product End of Life Plan Template

EXECUTIVE SUMMARY

Summary of the entire content of your EOL Plan

PRODUCT DESCRIPTION

Which product or product line is being discontinued

PARTIES AFFECTED BY RETIREMENT

Internal groups at the company, Resellers and channel partners, Customers

RETIREMENT ALTERNATIVES

Sell off product to another company, Spin out product, Continue sale for limited time, Shut down
product in near term

CHOSEN ALTERNATIVE AND REASONING

Sell off product to another company. The product no longer is a good strategic fit for where the
company is headed

ANNOUNCEMENT PLAN

Critical dates, Manufacturing plan, Spare parts supply plan, Upgrade assistance, Customer support
options, Technical support plan, Compatibility, Recycling/disposition guidelines, Trade-in or upgrade
Options

CRITICAL SUCCESS FACTORS FOR RETIREMENT OF PRODUCT

When your product retires, what success stories will it impose and how is your company going to benefit
from the retirement

Best Practices When Retiring a Product

 Consider creating a standardized product end of life process so you can minimize and more
easily predict the impacts to different groups within your company and to resellers and
customers.
 Communicate early and often so that stakeholders know what to expect when.
 Get the support and backing of all responsible groups and executives well beforehand so that
things go smoothly.
 Plan for continued support, warranty servicing, and so on for a stated time period to meet your
stated policies to customers.