Pragmatic Institute



1767840-679259500Pragmatic Marketing Gap AnalysisCurrent Owner: Assign the role that currently owns the activity. For example: PM=Product Manager; PMM=Product Marketing; MC=Marketing Communications; SE=Sales Engineering; D=Development.Proposed Owner: Assign the role that is the proposed owner of the activity. For example: PM=Product Manager; PMM=Product Marketing; MC=Marketing Communications; SE=Sales Engineering; D=Development.Importance: How important is this activity to your company? (5=high, 0=low)Assessment: How well are you performing the activity? (5=high, 0=not doing)Target Hrs/Week: How many hours a week should the team be spending on the activity?Actual Hrs/Week: How many hours a week is the team actually spending on the activity?CategoryActivityDescriptionCurrent OwnerProposed OwnerImportanceAssessmentTarget Hrs/WeekActual Hrs/WeekMarket Understand market problems and your organization's unique ability to address them. Market ProblemsDiscover problems in the market by interviewing customers, recent evaluators, and untapped, potential customers. Validate urgent problems to show their pervasiveness in the market.Win/Loss AnalysisUnderstand why recent evaluators of the product did or did not buy and what steps they took in the buying process.Distinctive CompetenciesArticulate and leverage the organization’s unique abilities to deliver value to the petitive LandscapeIdentify competitive and alternative offerings in the market. Assess their strengths and weaknesses. Develop a strategy for winning against the competition.Technology AssessmentInventory technology assets and determine ways they can be leveraged.FocusCreate a product strategy integrated with your organization's portfolio of products.Market DefinitionMap needs with target markets and analyze the market segments to actively pursue. Ensure that the targeted segments are large enough to support the current and future business of the product.Distribution StrategyDetermine which channels best align with your markets' buying preferences.Product PortfolioIntegrate products into a coherent portfolio of products focused on the market. Manage the portfolio like a “product” (business plan, positioning, buying process, market requirements and marketing plan).Product RoadmapIllustrate the vision and key phases of deliverables for the product. The roadmap is a plan, not a commitment.BusinessFormalize your product plans to deliver profitable solutions for market problems.BusinessPlanPerform an objective analysis of a potential market opportunity to provide a basis for investment. Articulate what you learned in the market and quantify the risk, including a financial model.PricingEstablish a pricing model, schedules, guidelines and procedures. Buy, Build or PartnerDetermine the most effective way to deliver a complete solution to an identified market problem. Where you have gaps in your offering, analyze whether to buy, build, or partner to complete the solution for your market.Product ProfitabilityMonitor and analyze key performance indicators to determine how well the product is performing in the market, how it impacts the company operations, and ultimately, how it contributes to profit.InnovationFocus your teams' creative spirit on solving market problems by leveraging your organization's distinctive competencies.PlanningConnect your business plans with the organizations that develop, promote and deliver solutions to the market.PositioningDescribe the product by its ability to solve market problems. Create internal positioning documents that will be used to develop external messages focused on each key buyer or persona. Buying ProcessResearch and document the buying process your target personas use to select a product. Understand the barriers that buyers encounter during their selection process.Buyer PersonasDefine the archetypical buyers involved in the purchasing process of your products and services. UserPersonasDefine the archetypical users of your products and services.RequirementsArticulate and prioritize personas and their problems so that the appropriate products can be built. Use ScenariosIllustrate market problems in a “story” that puts the problem in context. Use scenarios are one component of requirements.Status DashboardMonitor key dates and checkpoints in product delivery.ProgramsCreate go-to-market programs aligned with the buying process.Marketing PlanArticulate the strategies and tactics for generating awareness and leads for the upcoming fiscal period, including key programs and events with measurements and goals.Customer AcquisitionDefine the specific plans and budgets for selling products and services to new customers.Customer RetentionDefine the specific plans and budgets for ensuring customer loyalty as well as selling products and services to existing customers.Program EffectivenessMeasure and tune product marketing programs to ensure alignment with corporate goals.LaunchPlanEnsure that all departments are prepared for new product releases and all items are completed to launch the product externally. Thought LeadershipCreate and deliver thoughtful information (webinars, blogs, ebooks, etc.) to influence customers, buyers, industry specialists, research analysts, key editors in the press and other third parties.Lead GenerationDevelop a lead generation process that is designed to generate and nurture qualified leads with an objective to turn prospects into satisfied customers. Referrals & References Identify customers who are willing to give testimonials, be featured in case studies, or agree to be a reference account.ReadinessEnsure the organization's ability to sell and support your product. Sales ProcessAlign your organization’s selling process to the buying process, describing the key personas’ information needs for each step in the process.CollateralCreate collateral for buyer personas focused on a specific step of the buying process.Sales ToolsCreate tools for salespeople focused on a specific step of the selling process.Channel TrainingDesign and deliver training programs to help the sales channels focus on how to sell the product, not how to use it.SupportSupport the sales channels with market and product expertise.Presentations & Demos Produce standard product presentations and demo scripts that can be used by the sales team in a typical sales process.“Special” CallsDeliver product information to qualified buyers in support of existing sales efforts.EventSupportProvide product and market expertise for events such as conferences, tradeshows, webinars and seminars.Channel SupportProvide on-going support for the sales channel. Look for opportunities to make support more repeatable.When you finish the initial Gap Analysis:Look for the most severe gaps (where you are underachieving or overachieving based on importance). Focus on the top 2-3 gaps. If more than 3 activities have the same high gap, have the team select the 3 most important activities to focus on. Put together a plan to address the gaps.Review the current organization. Do you have the right owners for each box?How might you group the roles differently to use existing skill sets?What additional skills are required? Use the Framework to assess individual product team members’ skills and put together a plan to improve.Do you need to define additional roles?Go back through the worksheet and assign proposed ownership changes.What activities are team members doing that are not part of the Framework? Are these impacting their ability to do the activities on the Framework?Use Hours/Week to determine where product team members are currently spending their time. You can also use this to determine how much time should be spent on the various activities, and divide the total number of hours by 40 to determine how many people are needed to do the job.In 6-9 months, do another Gap Analysis following the steps above.Have you improved?What are the next gaps that need attention? ................
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