Build a Winning Solution Marketing Strategy
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Transcript of Build a Winning Solution Marketing Strategy
© Solution Marketing Strategies, 2010
Build a Winning Solution Build a Winning Solution Marketing StrategyMarketing Strategy
Steve Robins
PrincipalSolution Marketing Strategies
May 22, 2010
p2© 2010
AgendaAgenda
� Introduction– Solutions
– Solution marketing
� Discovery/research– Segmentation
– Personas
– Competition
� Solution marketing strategy– Solutions
– Education/engagement
– Value
– Access
� Conclusion/Q&A
p3© 2010
About This PresentationAbout This Presentation
� Following are the slides presented at ProductCamp Boston on May 22, 2010.
� Check www.SolutionMarketingBlog.com for supplemental material.
� Join the Solution Marketing Community!– Subscribe to the SolutionMarketingBlog (see “Subscribe” on the right):.
– Join Solution Marketing Pros on LinkedIn: http://www.linkedin.com/groups?home=&gid=1826720 .
� Questions? Please contact Steve Robins – see next slide for contact details.
THANK YOU!
p4© 2010
Steve RobinsSteve Robins
� Principal, Solution Marketing Strategies, a strategic marketing consultancy
� 10+ years in solution marketing
� Expertise in product, solution and industry marketing
� Experience: EMC Documentum, KANA, The Yankee Group and more
� Founder of the top-rated Solution Marketing Blog
� Inbound Marketing Certified Professional
� Let me know how I can help you
S.Robins [at] SolutionMKT [dot] com
LinkedIn.com/in/SteveRobins1
@SteveRobins
SolutionMarketingBlog.com
SolutionMarketingStrategies.com www.barcamp.org/ProductCampBoston
p5© 2010
What is a Solution Anyways?What is a Solution Anyways?
p6© 2010
Not Not A Solution to the CustomerA Solution to the Customer’’s Problem s Problem
Product
p7© 2010
Complete Solution to the CustomerComplete Solution to the Customer’’s Problems Problem
Solution
p8© 2010
DefinitionDefinition
so·lu·tion mar·ket·ing. Noun. The process of defining, educating, and providing access to complete and integrated solutions that deliver customer value by helping customers to solve their problems.
© 2010 Solution Marketing Strategies
p9© 2010
Research and Build Solution Marketing StrategyResearch and Build Solution Marketing Strategy
� Market– Technology adoption curve
– Segmentation� Segment size
� Growth
� Solution relevance
– Personas/voice of the customer� Business goals/challenges
� Requirements
– Competition, SWOT
� Company– Top industries, functions, use cases
– Revenue trends
– Win/loss
– Core competencies (e.g., technical)
� Solution – Solution maturity
– Solution portfolio, top solutions/use cases
� Education & Engagement– Message
– Awareness, lead generation
– Social media/inbound marketing
– Sales enablement
� Value– ROI models
– Pricing
� Access– Channel enablement
DiscoveryDiscovery StrategyStrategy
© 2010 Solution Marketing Strategies
© Solution Marketing Strategies, 2010
DiscoveryDiscovery
p11© 2010
Technology Adoption CurveTechnology Adoption Curve
Early AdoptersVisionaries
InnovatorsTechnology
Enthusiasts
Early Majority/Pragmatists
Late MajorityConservatives
LaggardsSkeptics
Time
Customers want technology
and performanceCustomers want solutions and convenience
Rela
tive
% o
f C
usto
mers
End of LifeEarly Life Bowling
Alley
Sources: E.M. Rogers, G. Moore
The Solution Opportunity
Main Street
The Tornado
The Chasm
Solution
p12© 2010
Annual Growth Rate 2008-2009
Average Revenue/Account ($1000)
Software
Manufacturing
FinancialServices
Retail
Gov
ConsProd
SegmentationSegmentation
© 2010 Solution Marketing Strategies
p13© 2010
Segment DescriptionSegment Description
� Extensive training required to gain credibility�Use industry experts
Sales enablement
� 21 CFR Part 11 compliance�Regulatory publishing
Most important technical capabilities
Channel
Marketing strategy
Company value prop
Recommended solutions
Segment Strategy
� System integrator
� Pubs: Bio� Social media sites:� Shows: Bio, DIA Annual � Thought leadership: ECM ROI for NDA
� Lower the cost of drug development� Streamline processes� Improve hit rate
�Regulatory submissions�New drug discovery� Partner management
�Content management commonly used
� Extensive integration required
Solution maturity
� Pharma/med device companiesSegment
� Liquent entrenched�OpenText making inroads� SharePoint gaining
Competition
� Speed approvals� Speed drug discovery
Segment Overview
Business needs
© 2010 Solution Marketing Strategies
p14© 2010
PersonasPersonas
� Leader
� AggressivePersonality
The VP/Director of MarketingGeneral Persona #1:
� Doing it all within a limited budgetChallenges
� Create and maintain a strong brand that generates interest
� Generate leadsTop business goals
� Lead large team
� Manage budget
� Build and execute marketing strategy
Day-to-day job
� MarketingDepartment
� VP/Director of MarketingTypical title
� Matured through the ranks of marketingBackground/experience
� Clear ROI
� Easy to use
� Competitively priced
Solution needs
About me
What I’m thinking
© 2010 Solution Marketing Strategies
p15© 2010
Competition Competition -- CapabilitiesCapabilities
Smaller-Mid B2B
Smaller B2B
Small-Large Consumer Small-Large ConsumerNA
Completeness of Solution
#3#2#1
General
Services
Advanced
Use Cases
Competitors
© 2010 Solution Marketing Strategies
p16© 2010
Competition Competition –– Marketing Presence (Website)Marketing Presence (Website)
NNYYYYYYY7HighE
NYYYYYYYY8ModerateC
YY?YYYNYYYY8.5ModerateB
YYYYYYYYYYY10ModerateA
NYYY?Y, barelyNNNN3ModerateH
6.5
7
7.5
Score (out of 10)
Y
N?
?
Solution Capability
#2
Y
Y
Y?
Solution Capability
#1
Y
N
N
Case Studies ID’d for this
Solution
Y
Y, barely
YY
Use The Solution’s Jargon on Website
N
Y
Y
Other Solution Features
N
Y
YY
Solution Mentioned on Home Page
?YYModerateG
Y
Y
Solution Page
Moderate
Moderate
Threat Level
YYD
YYF
Competitor Offers the Solution?
Solution Partners
© 2010 Solution Marketing Strategies
© Solution Marketing Strategies, 2010
Solution Marketing StrategySolution Marketing Strategy
p18© 2010
Solution Marketing StrategySolution Marketing Strategy
The 4 P’s
Place
Product
Promotion
Price
Derived from SIVA model, Chekitan & Dev
P P
P
P
© 2010 Solution Marketing Strategies
p19© 2010
Solution Marketing Strategy Solution Marketing Strategy -- SEVASEVA
SEVASolution Marketing
Access
Solution
Education
Value
Derived from SIVA model, Dev & Schultz
The 4 P’s - updated
“How can I solve
my problem?”
“Where can I learn more
about it?”
“What is my
total sacrifice
to get this
solution?”
“Where can I find it?”
Solution Marketing answers 4 customer questions
© 2010 Solution Marketing Strategies
p20© 2010
Technology Adoption CurveTechnology Adoption Curve
Early AdoptersVisionaries
InnovatorsTechnology
Enthusiasts
Early Majority/Pragmatists
Late MajorityConservatives
LaggardsSkeptics
Time
Customers want technology
and performanceCustomers want solutions and convenience
Rela
tive
% o
f C
usto
mers
End of LifeEarly Life Bowling
Alley
Sources: E.M. Rogers, G. Moore
The Solution Opportunity
Main Street
The Tornado
The Chasm
Solution
© 2010 Solution Marketing Strategies
p21© 2010
Solution Maturity Model I: TechnologySolution Maturity Model I: Technology
CCCC� Integration API’s� Custom functionality API’s� Platform software
Platform Technologies
Innovators
Platform Strategy
C/P
P
Early Adopters
Toolkit (BIY)
C/P
P
P
Early Majority
Framework
C/P
C/P
C/P
Late Majority
ApplicationTech Strategy >>>
� Content/data development providedInformation/Content
Services
Higher Level Technologies
Components
� Strategy Services� Outsourced system admin� SaaS Services� User Training� Integration services� Development services
� Content/data management� Process-specific:
– Partner technologies– UI’s/templates– Workflows/templates– integrations
� Partner technologies
P Partner C Company Market Maturity Model © 2010 Solution Marketing Strategies
Solution
p22© 2010
Solution Maturity Model II: GoSolution Maturity Model II: Go--ToTo--MarketMarket
P Partner C Company Market Maturity Model © 2010 Solution Marketing Strategies
ApplicationFrameworkToolkit (BIY)Platform StrategyTech Strategy >>>
C
C
C
C
C
C
Early Adopters
CSell the vision
CSell application that solves a problem
CPlatform performance
CProduct features
CCUse cases focused around solving a business/industry problemMarketing
Message
CApplications described in terms of business benefit
CCPlatform capabilities
SalesStrategy
Sales & Marketing Strategy
CFind first customers
Sell product features
CCSolution Selling - sell solution to a problem (not fully out of box)
Early Majority Late MajorityInnovators
Solution
p23© 2010
Complete Solution to the CustomerComplete Solution to the Customer’’s Problems ProblemSolution
© 2010 Solution Marketing Strategies
People• User interfaces• Training• Support• Best practices• Domain expertise
Process • ROI studies Reengineering
• Process optimization –efficiency,
effectivenessInformation/Content• Data• Content, documents, images
• External data sources• Data security• Data policies
Technology• Applications• Complementary technologies
• Hardware and infrastructure
• Custom coding• Integration services
Services• Strategy• Project management• Risk management• Custom coding• Integration services
p24© 2010
Solution PortfolioSolution Portfolio
#3
#2
#1
Oppor-tunity
Profile
$5 mill/yr� ABC Company
� bcD Pharma
� Fast
� Less expensive to produce
� Slow process
� Unreliable
� Less than $5 billion revenue
Regsubmissions
$2 mill/yr� Fyer
� Fast
� Less expensive to produce
� Current tools insufficient
� Other tools don’t work with our ECM
� Top 100 pharma
Regpublishing
$5 bill� Boron
� Abacus
� Expedited review by regulators
� Comply with archiving requirements
� Need to be able to lock down documents
� Safety departments
Plant safety
Business Challenge Solution Benefits Partners Revenue PotentialUse Case
Solution
© 2010 Solution Marketing Strategies
p25© 2010
Solution MarketingSolution MarketingSolution Solution –– Develop the SolutionDevelop the Solution
� Action - Develop the Solution!– Product – enhancements required?
– Partner technologies
– Services – strategy, process reengineering, integration, training, support
– Beta – partners, prospects and customers
Solution
Customer: “How can I solve my problem?”
© 2010 Solution Marketing Strategies
p26© 2010
Solution MarketingSolution MarketingEducation Education –– MessageMessage
� Message – It’s About Relevance– Use language the prospect understands…
� Industry/function terms
� Common business issues and challenges
� Remember – this is all about how your solution solves their business problems
– Benefits: business-oriented rather than technical…� Higher profits, lower expense, higher revenue, better customer service, ensures compliance
Education
Customer: “Where can I learn more about it?”
© 2010 Solution Marketing Strategies
p27© 2010
Solution MarketingSolution MarketingEducation Education -- Tuning the MessageTuning the Message
TechnicalMessage
BusinessMessage
GeekSpeak Credible
Does it exist?Vague
HighLow
Low
High
“SOA architecture
enables integration
with legacy systems”
“Helps your
company”
“Shortens mortgage
cycle time”
“Increases
profitability”
ITBusiness
Mgr.
CFOJanitor
Education
© 2010 Solution Marketing Strategies
p28© 2010
Customer: “Where can I learn more about it?”
Solution MarketingSolution MarketingEducation Education –– the the ““Solution ParadoxSolution Paradox””
Beware “the Solution Paradox”
� The customer wants out-of-box offerings…….but no one company can provide everything out of the box
� Even a fully integrated and “complete”solution cannot possibly solve all of a customer’s problems due to:
– Unique environments
– Specific industry requirements
CustomerExpectations
Message
Solution
Danger
Ask:• Does the solution meet customer requirements?
• Is the message backed up by the solution?
Ask:• Does the solution meet customer requirements?
• Is the message backed up by the solution?
Education
© 2010 Solution Marketing Strategies
p29© 2010
Customer: “Where can I learn more about it?”
Solution MarketingSolution MarketingEducation Education –– the the ““Solution ParadoxSolution Paradox””
Beware “the Solution Paradox”
� The customer wants out-of-box offerings…….but no one company can provide everything out of the box
� Even a fully integrated and “complete”solution cannot possibly solve all of a customer’s problems due to:
– Unique environments
– Specific industry requirements
CustomerExpectations
Message
Solution
Ask:• Does the solution meet customer requirements?
• Is the message backed up by the solution?
Ask:• Does the solution meet customer requirements?
• Is the message backed up by the solution?
Education
Optimal
© 2010 Solution Marketing Strategies
p30© 2010
Solution MarketingSolution MarketingEducation Education –– Create a DialogCreate a Dialog
� Action – Create a Two-Way Dialog with the Market– “Give customers the right information on the right subject at the right time on their
terms” *
– Enable prospects to find your solutions
– Enable market education
– Use Web 2.0 tools – Blogs, Podcasts, Twitter, Facebook, etc.
– Provide recent customer references, who are most likely to advocate *
� Go beyond one-sided “push” promotion
* In the Mix (Marketing Management) (Dev & Schultz, 2005)
Education
Customer: “Where can I learn more about it?”
© 2010 Solution Marketing Strategies
p31© 2010
Solution MarketingSolution MarketingEducation Education -- SalesSales
� SALES– Sales training:
� Solution selling methodology, consultative selling
� Business problems, industry/functional issues
� Business solutions
� Company and solution messaging
� Partner engagement models – system integrators, tech partners etc.
– Sales tools:� Collateral, references
� ROI models and value tools
� Pricing
Education
Customer: “Where can I learn more about it?”
© 2010 Solution Marketing Strategies
p32© 2010
Solution MarketingSolution MarketingValueValue
� Value = Benefit - Cost
� Research– Identify and place value on significant customer purchase drivers *
– Common ROI models/”before-afters”
– Purchasing habits
– Budget trends
� Action!– Articulate value in terms of price, ROI, TCO
– Develop ROI assessments with consulting/system integrator partners
– Reference customers – value achieved
* In the Mix (Marketing Management) (Dev & Schultz, 2005)
Value
Customer: “What is my total sacrifice to get this solution?”
© 2010 Solution Marketing Strategies
p33© 2010
ValueValue--Based PricingBased PricingB
usin
ess B
en
efi
t ($
)
CBA
Poor ValueUnneeded
features
Fair Value
Price matches
benefit
High Value
Lost software
revenue
Assume that vendor charges fair price
for features provided
Benefit
Benefit
D
CustomerBenefit
Fair Value
Price matches
benefit
Lost revenue
Unneeded features
CustomerBenefit
CustomerBenefit
CustomerBenefit
Value
Price
Solution use-case drives benefit and value
Value = Benefit - TCO
© 2010 Solution Marketing Strategies
p34© 2010
Customer: “Where can I find it?”
Solution MarketingSolution MarketingAccessAccess
� Research– Common purchasing channels?
– Do they prefer to buy through VAR’s? Through SI’s? Direct? On contract?
– Preferred delivery models… Software? SaaS? Business Process Outsourcing?
� Action!– Enable the customer to purchase the solution through the channels that they want
– New channels – beyond the traditional
– Marketer provides fastest, least-expensive access
– Successfully complete the sale
– Ensure customer success through “the last mile”
Access
© 2010 Solution Marketing Strategies
p35© 2010
Ensure Alignment Ensure Alignment Throughout the Extended EnterpriseThroughout the Extended Enterprise
� Goal: Customers get what they were promised
� How Do You Achieve This?– Consistent messages across entire company and ecosystem
– Sales – longer sales cycles; solution training; specialized sales teams
– Support from engineering/product management, services, tech support, consulting teams
– Executive support
CustomersSuppliers/Partners
Tech, SI
Partners
FrontOffice
Marketing
Sales
Service
BackOffice
Manufacturing
Engineering
© 2010 Solution Marketing Strategies
p36© 2010
ConclusionConclusion
� Market– Technology adoption curve
– Segmentation� Segment size
� Growth
� Solution relevance
– Personas/voice of the customer� Business goals/challenges
� Requirements
– Competition, SWOT
� Company– Top industries, functions, use cases
– Revenue trends
– Win/loss
– Core competencies (e.g., technical)
� Solution – Solution maturity
– Solution portfolio, top solutions/use cases
� Education & Engagement– Message
– Awareness, lead generation
– Social media/inbound marketing
– Sales enablement
� Value– ROI models
– Pricing
� Access– Channel enablement
DiscoveryDiscovery StrategyStrategy
© 2010 Solution Marketing Strategies
p37© 2010
BibliographyBibliography
� Dev, Chekitan S., and Don E. Schultz. 2005. “In the Mix” Marketing Management 14, no. 1: 16-22. Business Source Premier, EBSCOhost (accessed February 25, 2009).
© 2010 Solution Marketing Strategies
p38© 2010
Thank YouThank You
Steve Robins
PrincipalSolution Marketing Strategies
www.SolutionMarketingStrategies.com
© 2010 Solution Marketing Strategies
S.Robins [at] SolutionMKT [dot] com
LinkedIn.com/in/SteveRobins1
@SteveRobins
SolutionMarketingBlog.com
SolutionMarketingStrategies.com
© Solution Marketing Strategies, 2010
Build a Winning Solution Build a Winning Solution Marketing StrategyMarketing Strategy
Steve Robins
PrincipalSolution Marketing Strategies
May 22, 2010