Those of you who have great people in product marketing roles know their value. They are the glue between marketing, product management, and sales. They create marketing strategies that maximize and accelerate market penetration and profitability.
Who in your company is observing market, customer, and company internal trends as well as competitive activity? Companies that make the number have great Product Marketing Managers and Directors. They understand the requirements of a product gate process. They know what it takes to launch and maintain a strong product/solution revenue stream. The sales team looks at marketing differently when you have great talent in these roles. Why? Review the attached Product Marketing Scorecard. You’ll realize they provide almost everything a sales team needs to be successful.
Product Marketing Deliverable Requirements
We can start with one question that Product Marketing Managers are gifted at answering: “What is the problem our solution solves for the client?” Here’s a sample of what great Product Marketing Managers do:
- Confirm product positioning is written from the buyers perspective.
- Thoroughly analyze and document Market, Account, and Buyer Segmentation.
- Clearly define the ideal customer profile and help to educate sales on where the solution fits.
- Identify the competitive positioning and provide content for sales training.
- Produce a sufficient amount of product/solution content to execute campaigns from start to finish of the buying process.
For more details on what great Product Marketing Managers do, download the Scorecard.
What is a Product Marketing Scorecard?
It’s a scorecard utilized to measure Product Marketing Manager/Director performance against revenue, lead generation, deliverable and competency requirements.
What does a Product Marketing scorecard do?
It provides 2 primary functions:
- It communicates to the Product Marketing Manager and Director what the company expectations are of the role.
- It’s utilized during the hiring process to select only the most talented Product Marketing Managers.
What does it mean to implement a Product Marketing scorecard?
It means you are building products from a buyer perspective. It means your marketing programs for both prospect and cross sell/upsell are aligned to your buyers. It means the sales team, either direct or via the channel have the required sales tools. It means the sales teams have the required training to sell the new product/solution. It means, marketing is putting sales in the best possible position to be successful. These include:
- Assessing potential candidates or evaluating existing employees.
- Determining opportunities to increase penetration and revenue.
- Identifying channels, partners, and programs that accelerate sales.
- Driving inbound marketing leads.
- Protecting and enhancing the customer experience.
- In many cases providing cross-functional collaboration between Product Management, Marketing, Service, Supply, and Sales.
- Providing subject matter expertise to be leveraged by sales.
- Maximizing targeting and lead conversions.
- Delivering Leads through Inbound marketing programs to accelerate sales cycles.
- Supporting brand awareness, visibility, and preference in collaboration with the marketing communications team.
- Analyzing the competitive landscape and provide intel to the sales & marketing teams.
- Delivering all the material to the sales team via a mobile playbook.
The Scorecard helps you identify gaps in your GTM readiness/sales enablement approach. After reviewing the role deliverables you’ll know if your Product Marketing Managers are filling the gap the role supports.
- Direct/Channel/Inside Messaging Alignment Process
- Content Lifecycle Management Process
- Buyer Intelligence Process
- Content Consumption/Usage
- Value Prop Creation & Training
- Product Messaging Creation & Training
- Industry Positioning Creation & Training
- Product/Solution Launch Plan
- Product/Solution Use Scenarios
- Product/Solution Demo
- Competitive Landscape
Download the Product Marketing Scorecard. Review the scorecard requirements against your current Product Marketing Manager’s. If you don’t have a Product Marketing Manager, you are missing a critical piece of GTM readiness.
Have expectations gone up and left you wondering if you can make your number? Here is an interactive tool that will help you understand if you have a chance at success. Take the Revenue Growth Diagnostic test and rate yourself against SBI’s sales and marketing strategy to find out if:
- Your revenue goal is realistic
- You will earn your bonus
- You will keep your job