social product marketing & management · campaigns that use the power of social media and...

Social Product Marketing & Management

Paul Dombowsky CEO - Ideavibes

Anastasia Valentine CEO – Sandbox PM

The Ideavibes Crowd Engagement Platform™ enables organizations to create crowdsourcing and crowdfunding campaigns that use the power of social media and tapping into the wisdom of crowd to strengthen relationships through engagement and participation. It’s about starting innovative projects, building better products, setting new directions and being more crowd- or community-focused, funding worthy initiatives and sparking social change.

About Us!

Sandbox PM, an idea to launch company provides all sizes of organizations with support and services from idea through to launch. Taking the role of your extended team, Sandbox PM will play a hands on role in your success in introducing your company, products and services to the market.

Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without written consent.


The Product Manager is the hub of information and activity for any products company.

Social Business Strategy

� Visible � Accessible � Mobile

� Reliable � Valuable � Trusted


It is not enough to be present, you must engage & be engaging!”

People are talking


Conversations Products

Services

People

Company

Events Trends

Innovation

Features

Pain points

Competition

Are you listening?

Traditional OLD Engagement

Product Management

Known Customers

Usability tests

Beta Programs

Surveys


Marketing Reach

Direct Mail

eMail

Physical Events

Telemarket-ing

Social Media

Online Ads Blogs

Online Influencer

(s)

SEO

Virtual Events

Mobile


Product Management

Customers

Advisory Boards

Technology Trends

Industry Trends

Competition

Partners

Prospects

Crowd sourcing

Stake-holders

Investors

Influencers

Analysts


Product Management Gets Social

� Create social media conversations for: ◦  Idea/Requirements gathering ◦ Validation (strategy, requirements, usability +) ◦ Use Cases, User Stories ◦  Persona development ◦  Beta recruitment ◦  Success stories ◦ Testimonials ◦ Usability / Product Appeal ◦  Scalability



“An outside-in approach increases the likelihood of product success.”

- Pragmatic Marketing

When and How To Get Social?

� When – ALL THE TIME � How? ◦ Target ◦  Join in ◦  Listen & Observe ◦ Attract & Engage ◦ Repeat


Target � Target your ideal crowd of: ◦  Influencers ◦  Like minded ◦  Prospects ◦ Customers ◦  Partners ◦ Competitors

� How? ◦  Profiling ◦ Research


The Social Media Influencer

� Credibility in the market � Large, qualified following � Heavily engaged with their audience � Reliable & consistent �  Information consistently shared by

following � Trusted by your targets

Copyright ©2012 Sandbox PM. Reproduction in whole or part not permitted without writ.ten consent.

Don’t underestimate the power and value of a social media influencer.

Join in!

GO! Join in!

� Ask your crowd where they go � Research where your industry/

competitors go �  Focus & only go where your targets go ◦  Join ◦  Like ◦  Follow ◦ Connect ◦  Share


Listen & Observe


� Listen for: ◦ Market needs / pain ◦ Trends (technology & industry) ◦  Feature requests ◦  “delight the customer” opportunities

� Observe for: ◦  Influencers ◦ New players ◦ Tactics that work / & don’t ◦ Competitor #fails

Listen & Observe � Most popular listening/

observation posts:

◦  Twitter �  Follow your target(s) �  Monitor their hashtags (#)

◦  Linkedin �  Join all industry & subject matter

groups �  Connect to all of your known peers �  Follow target companies


Attract & Engage! Create a reliable pattern of engagement ◦  Ask meaningful questions (daily) ◦  Answer relevant (high visibility) questions (daily) ◦  Provide meaningful information (daily) ◦  Declare a call to action (daily) ◦  Follow up & follow through ◦  Invite to participate


Be Socially Responsible!

“YOU SAID WHAT?!?”

� Right person in the social role � Clear rules of engagement � Empowered & trusted to respond � Keep it Simple Sir/Sista (KISS)

Social Product Management ROI � Measure Numbers! (they never lie) ◦  Followers �  # of followers, likes, people in circles, etc.

◦  Ideal Follower �  # of qualified followers, likes, people in circles, etc. ◦  Influencers �  # of influencers in your space ◦  Reach �  # of shares, +1’s , tweets, favorites, etc… ◦ Conversions �  # of signups, transactions, revenue, attendance, etc..


Social Product – ROI – How To!

1.  Create your social campaign 2.  Create some educated measures of ROI 3.  Let the campaign run for 2 weeks 4.  Measure your ROI 5.  Course correct & refine ROI goals 6.  Measure well & measure often


Be RUTHLESS. If it isn’t generating value or converting, it is COSTING you money.

KILL IT & try something else!

Social Product – ROI – How To! Time to invest (Time)

�  Research �  Campaign �  Engagement

Money to spend (Money)

�  Tools / Platform �  Promotions / Advertising �  Memberships


Time + Money = INVESTMENT Conversions = RETURN RETURN – INVESTMENT = ROI If ROI is >0 Then Keep GOING! If ROI is <0 Then STOP & RETUNE

Positive Social Disruption! �  Follow all of your competitors SM Accounts �  Monitor all competitive ◦  Forums ◦  Hashtags

�  Get on your competitors ◦  Mailing lists

�  Attend your competitors ◦  Webinars ◦  Tradeshows ◦  Twitter chats ◦  Google Hangouts ◦  Etc.


Disrupt Business as Usual NOT FOR THE FAINT OF HEART

OR THE CONSERVATIVE

�  Respond to competitive feature requests �  Positive engagement on competitive hashtags �  Monitor competitor weaknesses/complaints �  Provide solutions to competitive product

problems


Positive Disruption is great. Negative disruption is bad business.

Fixing a #FAIL


WHAT TO DO IN A “SITUATION”


ACKNOWLEDGE

OWN

ADDRESS

REPORT BACK

DefinedCrowdsourcing is an engagement process whereby organiza6ons seek inputfrom either open or closed communi6es of people, either homogenous ornot, to contribute ideas, solu6ons, or support in an open process whereby theelements of crea6vity, compe66on and campaigning are reinforced throughsocial media to come up with more powerful ideas or solu6ons than could beobtained through other means.

Why Bother?Organiza6ons have a difficult 6me engaging with their communi6es tostrengthen their rela6onship and be ci6zen focused. Internal or external, thecommunity has ideas that can be harnessed that come from diversebackgrounds, experiences and educa6on.

What is Crowdsourcing?

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Internal Experts

Emergent Experts (online community leaders,

product advocates)

Customers &Prospects

Who is your crowd?

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Engagement Targets

Strong brands foster ac6ve crowds•  Element of trust

•  It only takes one disingenuous campaign to causeproblems for you

•  Transparency fosters par6cipa6on•  Social media footprint does maBer•  Prospects may have bought into your brand but

not your products yet – how are you keeping themengaged?

Does your brand matter?

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The Appeal

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•  Crowdsourcing surfaces new perspec6ves•  Invites par6cipa6on from nontradi6onal

sources•  Infuses real energy into the process of genera6ng ideas•  Empowers people when they feel their voice is being heard•  Technology can enable par6cipa6on by disenfranchised

(ie. PCs in libraries/shelters with ci6zen engagementcampaigns)

•  Builds engagement and rela6onships with new audiences

Crowdsourcing Pros and Cons

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PROS•  Reduced 6me to market•  Reduced risk due to early customer

input•  Increased customer lifecycle value•  Broader source of innova6on•  Strengthened brand through

par6cipa6on•  Organiza6ons can’t have all the

brightest people on staff•  Ideas don’t have to be discovered by

internal R&D teams to be capitalizedupon

•  Benefits from varied experiences

CONS•  Less control

•  Needed trust not easily come by insome organiza6ons

•  Requires community management

•  Suffers if crowd is too narrow

•  Disrup6ve to tradi6onal 6melines forproduct roll outs

•  First aXempt is risky un6l youunderstand your crowd

•  Need to know your target audience

IdeaStorm was created to give a directvoice to Dell’s customers and anavenue to have online “brainstorm”sessions to allow them to share ideasand collaborate with one another andDell. Their goal through IdeaStorm is tohear what new products or servicesyou’d like to see Dell develop.

In almost three years, IdeaStorm hascrossed the 10,000 idea mark andimplemented nearly 400 ideas!

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Example 1: Innovation from the Crowd

Quirky is an all in oneproduct developmentshop for inventors.

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Example 2: Product Development from the Crowd

Threadless runs regularcampaigns to selectdesigns that are thenproduced and sold to aready-‐made market thatpar6cipated in the productselec6on.

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Example 3: Product Selection by the Crowd

Starbucks uses the same plaborm as Dell andSalesforce.com for their social product development.

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Example 4: Product Selection by the Crowd

Example 5: Salesforce

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What do your currentcustomers want to see onyour roadmap?

What features are neededto turn prospects intocustomers?

Democracy?1 vote = 1 customer

Best Practices

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•  Have a clear strategy for using crowdsourcing•  IP Ownership•  Compe66ve visibility

•  Break things down so crowd is clear what you are looking for•  Build trust

•  Be open in your communica6ons about the crowd’s role in theprocess

•  Do what you say you are going to do•  ABEYC – always be expanding your crowd

•  The crowd needs to be big enough – but not too big•  ABRYC – always be refining your crowd

•  Crea6ng diversity is as important as crea6ng size

Build a Social Product Strategy

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•  Reach customers & prospects where they live – join in theconversa6ons that are happening already

•  Capitalize on valuable customer and prospect insight•  Develop a culture of collabora6on•  Implement the right social technology to get the job done•  Communicate results and inten6ons and be open as

possible•  Let conversa6ons happen in the open•  Be crowd friendly on an ongoing basis

•  Easy to set-‐up and deploy•  Able to run mul6ple campaigns at once•  Can run Crowdsourcing and Crowdfunding Campaigns•  Build s6ckiness and community around those that engage

(sign-‐in and see past votes, comments, ideas)•  Hosted solu6on (in Canada)•  Able to be implemented on exis6ng website or set-‐up in new,

des6na6on site•  Social Media connected•  One of few sub $1000/month solu6ons

Ideavibes Crowd Engagement Platform

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How Does Ideavibes Compare?

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•  Enterprise Collabora6on or Idea Management–  Large – mul6-‐func6oning plaborms for Idea Management–  Integrated into change management and process improvement

lifecycles–  Chaordix, Bright Idea, etc.

•  Middle-‐6er Focused Crowdsourcing Apps–  Purpose-‐built customizable apps focused on crowdsourcing–  Narrow or wide focus–  Mul6ple crowdsourcing and crowdfunding campaigns–  Ideavibes, Spigit–  Note – Ideavibes is only white label crowdfunding plaborm available

•  Ad-‐hoc website or Social Media widgets–  Developed by web teams with basic func6onality–  Func6onality as opposed to business process driven

Resources

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•  The Wisdom of Crowds – James Surowiecki•  Crowdsourcing – Jeff Howe•  Crowdsourcing.org•  Crowdsor6um.org•  The Daily Crowdsource

•  Presenta6on will be on Slideshare by end of day today.

10 Day Product Launch Strategy

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•  Free @ www.sandboxpm.com

•  Target your ideal customer•  Develop marke6ng messages•  Soo launching & customer tes6monials•  Pricing•  Incen6ves & offers•  Your marke6ng campaign•  Spreading the word•  Media aXen6on•  Systems go!•  Launch day

Q&A

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Calls to Action

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•  Download Ideavibes whitepapers on crowdsourcing and crowdfundingwww.ideavibes.com

•  Sign-‐up for a 45-‐Day Free Trial of the Ideavibes Plaborm atwww.ideavibes.com

•  Sign-‐up for the Sandbox PM Product Launch Program•  Start a conversa6on with us about social product management or open

innova6on and how it could work for your organiza6on

§  Paul DombowskyIdeavibes+1.613.878.1681paul@ideavibes.comwww.ideavibes.com

§  Anastasia Valen6neSandbox [email protected]

Thank you

social product marketing & management · campaigns that use the power of social media and...

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