Lisa Singer
VP, Principal Analyst, Product Management
Author Insights
Blog
Product Management Leadership For This New Era
This post outlines three key ways product leaders can use customer input and feedback to drive growth in the coming year.
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Four Ways Product Management Can Be Prepared for the Next Stage of the COVID-19 Pandemic
- Product management leaders will need to lead planning for future offering investment in this environment of uncertainty
- With many unknowns regarding the easing of social restrictions, government assistance, and new measures to control future outbreaks, customer needs and business opportunities are continually in flux
- Four actions can help product leaders ensure investments are addressing current and impending needs
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Five Pricing and Packaging Steps for Selling in the Age of Pandemic
- Customers still must solve many standard problems in age of the COVID-19 pandemic, but also face new complexities such as economic uncertainty and a remote workforce
- Organizations must update their offerings’ packaging and pricing to address new needs that have surfaced as a result of the virus and to help lower costs for buyers and sellers
- Organizations must consider more flexibility around their products and packaging offerings that can help those who feel the most impact from COVID-19
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Should You Make Your Prices Public on Your Website?
- B2B customers are increasingly expecting consumer-like experiences, such as immediate access to a product’s pricing clearly stated on an organization’s website
- There is a strong argument for publishing prices, as such transparency can often accelerate the sales process and increase sales productivity
- Organizations should consider six elements when determining whether or not to publish prices
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Strategies Product Management Leaders Use to Drive Success
- Product management leaders often ask what actions they can take to promote high-performance in their product management functions
- Among other goals, product management leaders are seeking to drive greater product success by achieving revenue goals
- SiriusDecisions has identified key actions most correlated with the achievement of product success
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How to Develop Your Value-Based Pricing Strategy
- Due to its potential to maximize revenue and profit, value-based pricing has become an increasingly popular pricing approach
- However, organizations often are confused about what to consider when developing a value-based pricing strategy
- There are five key elements to consider when seeking product, marketing and sales alignment on the value-based pricing strategy for an offering
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Six Changes Product Managers Must Consider When Pricing a SaaS Product
- Many B2B software offerings are evolving from on-premises to software as a service (SaaS), enabling the low cost of entry, upgradability and scalability that buyers seek
- The increased importance of customer retention and lifetime value in a subscription model means pricing and packaging must be more value focused and responsive than ever
- With these metrics in mind, suppliers moving from an on-premises to a SaaS offering should consider six areas when pricing and packaging the product
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Value-Based Pricing: What Is It? What Are the Benefits? How Do I Get Started?
- According to SiriusDecisions Command Center® data, most B2B organizations continue to use cost-plus or competitive pricing for their offerings
- There is still some confusion about what value-based pricing is, what it involves and its potential benefits – leading to some reticence from product managers
- Organizations that identify opportunities to implement value-based pricing can increase the potential for revenue and profit growth, and gain valuable insights into how they can drive more buyer value in the future
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Three Ways to Kick-Start Your Product Sunsetting Engine
- High-performing organizations are significantly more diligent than their competitors about retiring products
- Organizations that fail to rationalize their portfolio often have less satisfied customers and can show slower growth
- Developing a consistent approach to product lifecycle decisionmaking and retirement planning allows for decreased risk and increased customer satisfaction
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Don’t Wait Until Product Launch to Price Your Product!
- Many B2B product managers don’t price their products until right before launch
- SiriusDecisions’ research shows that considering product price early in development more often leads to higher-value products
- Soliciting buyer input into the price metric and price levels helps product managers build a more realistic business case
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What “The Boss” Has Taught Me About Product Investment Decisionmaking
- Organizations should consider very specific criteria when deciding among product investment choices
- Leadership teams often struggle to develop criteria for assessing and comparing new product investment and upgrade opportunities
- Here are some suggestions to get started, based on the SiriusDecisions Offering Investment Scorecard
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Moving to a SaaS Business Model: What to Expect, Where to Focus
- Moving from an on-premise model to a software-as-a-service (SaaS) offering is increasingly common among software companies
- Product management leaders must consider several additional challenges when planning the move to a SaaS business
- Opt for a value metric that ensures your business will grow as the client grows and becomes more successful
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What Is Product Management, Anyway?
- Summit 2016 featured SiriusDecisions’ first-ever Product Leadership Exchange
- Product leaders agreed that product management needs to become more strategic and less tactical
- There is confusion within organizations about the roles of product management and product marketing
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Maximize the Value of Your Product Portfolio Through Smarter Investment Spending
- Innovative new offerings that help customers increase revenue and efficiency are required to drive business growth
- Don’t spread your resources too thin, like peanut butter on toast – concentrate resources on a select few best bets
- Don’t invest in innovations all over the map just to see what sticks – tie investments to strategy
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How to Develop a Product Strategy or Business Case
- SiriusDecisions’ product management advisory services helps our clients develop strategic product plans or business cases
- A product strategy must articulate the links between the product’s success and the business objectives of the organization
- For those with a portfolio of offerings, product plans should reveal how the offering fits with the current and future portfolio
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The Five Essentials of Strategic Product Management
- In product management, strategy is not a “one and done” deliverable
- Many clients of our product management advisory service are struggling to identify and train on the right strategic behaviors
- To help enforce strategic behaviors, here are five questions strategic product leaders should ask their colleagues and themselves
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Price: Not the Most Important Driver of B2B Buying Decisions
- While many of us were taught that lower prices could ensure more business, this is not at all true for B2B buyers
- In our 2015 buying study, 8 percent said price is the main driver of their decision to select a specific vendor for a new offering
- Here are three conclusions and three key actions to take based on our 2015 buying study
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Six Steps for Monetizing Your New Products with Higher Prices
- Waiting until launch to price a product is way too late – by then the organization’s price point will likely not match the buyer’s
- This is especially true when buyers are reluctant to pay more for a feature that product leader’s anticipated as a game-changer
- Use these six steps to monetize your new offerings with higher pricing
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Three Essentials for B2B Product Packaging
- Organizations entering a new market with a current product often miss key differences in markets that can make or break success
- Follow three key steps to ensure a product has been optimized for both the new market and the organization’s abilities
- When visiting a potential new market, meet with prospects, potential channel partners, and local sales reps and marketers
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Pricing Your Product Right in Your New Market
- One of the key pathways for top-line growth is launching a current product into a new market
- Product and marketing leaders often don’t reassess pricing strategies, creating product pricing that doesn’t reflect buyer needs
- Damage from faulty pricing in a new market can be irreversible, as buyers dismiss the offering due to poor value/price alignment