Before a product marketing professional can deliver effective messages, that PMM must understand the product strategy. If our previous lesson was on alignment, this one is about alignment. Surprise! In order to progress as Product Marketing Black Belts, we must understand Product Strategy thoroughly, from inception, thru development, on to the launch phases and beyond. The product strategic framework is what gets it all done.
Can the 5th “P” in marketing really be an “A”?
The orange belt Product Marketing Blackbelt candidate must demonstrate knowledge of Product Strategy in order to be awarded this belt.
Product Strategy Baseline
Get stakeholders involved as early in the game as possible, not just in time for them to deliver their piece of the launch plan. A customer is also a stakeholder.
- It is not on their radar until they are involved.
- Collaboration most often brings the best results.
Monitor processes and work flow all the time.
- The later a problem or issue is found within the launch or development cycle, the more costly the fix.
- Striving towards excellence is an iterative process.
Don’t depend on the wizbang-coolness factor (aka technology prowess) your product offers to be top of the game.
- How well do you know your markets, your competition, your own product roadmap?
- Are you selling the best product mix to the customers most willing to purchase them?
- Who needs (or wants) to buy your cool product, why?
Remember alignment – if your tires are out of alignment, besides offering a bumpy ride, the tires wear out fairly quickly.
- How aligned your products/services are to market needs and the competitive landscape is key.
- Are the products with the most revenue potential aligned with market needs?
Once the strategic framework is learned and practiced, you become Orange belt. Mastery comes much later.
Orange is a power color, a combination of red and yellow, both primary and yet vibrant. You cannot help but to be energized when you see this color.