Sharing an account of a product release strategy in response to a situation that triggered the release. This is a first person account as a Product Owner.
A B2B CRM company, with a common platform on which were built add-ons for Financial Services, Marketing, Service/Support, and Homebuilding acquired a marketing product, (called MP for simplicity). MP had a loyal customer base renewing maintenance contracts annually and demanding new features to support their business.
- MP and the flagship CRM had independent roadmaps which brought challenges when aligning Sales and Marketing with the release pitches.
- Features on MP were overlapping marketing features already available on the flagship CRM product.
- Customer sentiment was that with the acquisition MP did not get as much attention as required to cater to their needs
- New customers preferred the flagship CRM product
- Share of the revenue that MP brought in was declining
- MP had a dated technology base
- MP's user interface left much to be desired
- Cost of deploying MP on a hosted environment was high
- MP's support for mobile was text-based
Bring the zing back to the marketing vertical
Deliver in 3 months
To build a marketing automation add-on to the flagship CRM that included the most valued features from MP and the existing features on the flagship CRM.
Roadmapping activities in this approach:
- Reviewed the features of the flagship CRM so that the marketing add-on includes an enhanced version of MP's unique features, and removes duplicate features
- Worked with the Gartner analyst for Marketing to understand the industry trends and marketing automation vendor selection criteria
- Reviewed support incidents of MP to understand the painpoints
- Included the migration and feature integration plan in a common roadmap
Customer retention activities in this approach:
- Offered the flagship CRM product with its hosting capabilities, mobile support, and improved user experience to MP customers
- Drew up a migration plan with tools so that customers can confidently migrate their data to the flagship CRM with the marketing automation add-on
- Presented the common roadmap
Post the roadmapping activities, worked with architects, user experience specialists, and the development team to design and deliver the first release of the marketing automation add-on in 3 months. The first release included the most important features of marketing automation that could be delivered in 3 months by 1 development team.
The Marketing Automation add-on:
- Was well-received by existing and new customers
- Moved back into a top revenue earner on the flagship product as well
- Received rave reviews from market analysts