Download as PDF, PPTX
Uploaded byCambridge Product Management Network
The 5 secrets of in-life product management
The document outlines the five key principles of effective in-life product management, emphasizing the importance of measuring critical metrics, managing priorities to minimize fire-fighting, planning for optimal products, maintaining a professional product book, and systematically withdrawing products when necessary. It also highlights the expertise of Product Focus in offering training and resources for product management in technology-based industries. Additionally, the document details upcoming training courses and private assessments available to enhance product management practices.
More Related Content
Similar to The 5 secrets of in-life product management
More from Cambridge Product Management Network
The 5 secrets of in-life product management
- 1. | 1 ofX |www.productfocus.com© Product Focus Product Focus The 5 secrets of in-life product management 1 The 5 secrets of in-life product management Ian Lunn, Product Focus
- 2. © Product Focuswww.productfocus.com Ian Lunn Over 25 years product management and marketing experience in Telecoms, IT and software Following Computing degree started life working in IT consultancy – Logica and Hoskyns Senior marketing, product management and consultancy roles at Cable & Wireless, Lucent, Vodafone and Orange Head of marketing in ‘dot-com’ company Wide experience across business and consumer markets in both small companies and large multi-nationals Co-founded Product Focus 11 years ago 2
- 3. © Product Focuswww.productfocus.com Product Focus – who are we? Europe’s leading product management & product marketing training business with a focus on technology-based products 3
- 4. © Product Focuswww.productfocus.com Our research 4 Annual industry survey on product management and product marketing Research and publish a new Product Management Journal year (15 so far) Growing database of experience from the reviews and assessments we conduct Run monthly webinars, publish regular blogs and infographics Report on top product management tools
- 5. © Product Focuswww.productfocus.com The 5 secrets of in-life product management 5
- 6. © Product Focuswww.productfocus.com A competition 6 Questions from our 2017 Industry Survey Question 1 : Is it on average 45% time working on pre- launch activities and 55% on post-launch activities - or the other way round? Question 2 : Is it on average 47% fire-fighting and 53% on planned activities – or the other way round? Question 3 : What is the percentage of products that exceeded or far exceeded their commercial objectives?
- 7. © Product Focuswww.productfocus.com How much time is spent on in-life activities? 7
- 8. © Product Focuswww.productfocus.com How much time is spent fire-fighting? 8
- 9. © Product Focuswww.productfocus.com Do products meet their commercial objectives? 9
- 10. © Product Focuswww.productfocus.com The 5 secrets 10 1. Measure what matters 2. Push back on fire-fighting 3. Plan for the Optimal product vs the MVP 4. Be professional with a ‘Product Book’ 5. Withdraw products (as well as launching them)
- 11. © Product Focuswww.productfocus.com 1. Measure what matters 11 Different KPIs Revenue billed / contracted Profit Number of customers Recurring Revenue (RR) e.g. €10 / mth Lifetime value Acquisition cost Task time Conversion rate Performance against business case Net Promoter Score (NPS)
- 12. © Product Focuswww.productfocus.com Leading vs lagging indicators 12
- 13. © Product Focuswww.productfocus.com 2. Push back on fire-fighting What do you need to do – what should others be doing? Remember to work ‘on the product’ not ‘in it’ Think about the 80:20 rule and what to focus on 13
- 14. © Product Focuswww.productfocus.com 3. Plan for the Optimal product vs the MVP 14
- 15. © Product Focuswww.productfocus.com 4. Be professional with a ‘Product Book’ 15 Set of slides updated monthly by the Product Manager Dashboard (one-page status) Product Description The numbers Who does what Roadmap Key issues The strategy/vision
- 16. © Product Focuswww.productfocus.com 5. Withdraw products (as well as launching them) 16
- 17. © Product Focuswww.productfocus.com Withdraw products (coconuts and icebergs) 17
- 18. © Product Focuswww.productfocus.com The 5 secrets summary 18 1. Measure what matters 2. Push back on fire-fighting 3. Plan for the Optimal product vs the MVP 4. Be professional with a ‘Product Book’ 5. Withdraw products (as well as launching them)
- 19. © Product Focuswww.productfocus.com Product Management and Product Marketing for technology-based products Gives a thorough grounding in all aspects of the roles 3 day courses run across Europe Learn industry best practice Tools, templates and checklists to take away Certification Network with peers Independently reviewed Our public course runs every two weeks 19 Date Location Action 29-1 Dec Amsterdam Full 13-15 Dec London Book now 17-19 Jan London Book now 7-9 Feb Paris Book now 7-9 Feb London Book now 14-16 Feb Munich Book now 21-23 Mar Berlin Book now
- 20. © Product Focuswww.productfocus.com We also offer… Private on-site training Tailored to your objectives and delivered when and where you want Completely confidential Cost effective 20 Reviews and assessments To make practical recommendations on how to improve product management in your company Product Management Leadership Forum An exclusive workshop for product management leaders focused on leading and improving product management Next one 26 Apr 2018
- 21. © Product Focuswww.productfocus.com www.productfocus.com +44 (0) 207 099 567 21 [email protected]