Product Strategy
Technical features can be key differentiators, but they must generate value for the customer, otherwise they are not supporting your marketing and sales initiatives. The product value proposition is a statement that articulates the product´s features, uses and differentiators while taking into account the customer´s problems, wants and needs. It is the north star for product messaging. A product value proposition describes what the customer will get out of the product. It is the product’s elevator pitch—boiled down to one sentence. It shouldn’t just describe the product, though. It should sell it.
Knowing your competitors is key as well, otherwise its very complicated to position your product against the competitors. Innovation will help to differentiate, especially in the enterprise SaaS business, because its so technology and AI driven these days.
The product management department should collaborate intensively with marketing and sales to support marketing campaigns with the latest innovation and to learn from customer feedback, what's missing and where the customer has the biggest pain with the usability of the product.
Analysts have their own view on the market. Interaction with analysts is key in every SaaS company because its impossible to scale without being mentioned in analysts market reports.
PACKAGE 1:
product value
Definition of Product
Value Proposition
Consumers have short attention spans. They are bombarded with so much marketing content that it can be overwhelming. Businesses that effectively navigate the clutter and offer an intriguing product statement that resonates will be the ones that succeed.
Company messaging begins with your product’s value proposition. The statement is a useful marketing tool that can be used to describe your product and share its benefits with customers who are scrolling quickly. In addition, the product value statement can realign employees and provide them with a concise way to describe your business’ offering.
Simplicity should be a competitive advantage of your message.
OUTCOME:
The outcome of this consulting package is a
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product value proposition which can be used in marketing and sales
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competitor analyses and battle cards for sales
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definition of product managements interaction with marketing and sales
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higher win rate because sales will have a clear guideline about the value proposition they can use against their competitors
Roman Pichler’s extended product vision board as a value proposition model:
PACKAGE 2:
ANALYST RELATIONS
Analyst ratings and recommendations
Analysts have a huge influence on customer decisions, especially for bigger clients. Even if its impossible to be on the Gartner MQ (Magic Quadrant) or Forrester Wave, its important to be mentioned by analysts. Analysts will not mention which innovation we should focus on but they will give feedback to our actual positioning and how they see us compared to the market.
OUTCOME:
The outcome of this consulting package is
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a guideline for analyst interaction
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a communication strategy for analysts
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a list for strategic activities to improve analysts relations on a long term
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in the best cast, to be represented in the Gartner MQ or Forrester wave