Features Don't Matter: Why Value-Driven Product Plans Work with Steve Johnson

Why you have to check out today’s podcast: Learn about product management’s role in pricing strategy Learn the importance of having a strategic customer and market-driven business case that will define the direction of your product and what you want to achieve Understand Customer Perceived Value, what appeals to the consumer and why you need to put a dollar value to your product feature/solution    Steve Johnson is the CEO and founder of Under10 Consulting. His focus is on implementing 'just enough' process using proven methods.  Since 1979 he has worked in computer hardware, software, and services. Over the years he has moved up from product manager to CMO and has worked with tens of thousands of product managers and product leaders at thousands of companies.  In this episode, Steve Johnson shares how to implement world-class product management. “Look at the cost savings or the impact on customers and take 10% or more. You know, if you've got a good brand name, you can charge 15 if you don't, you can charge 10 but you certainly need to be at the end of the day. If you're solving a problem that people don't have 10% enough and is still nothing.” - Steve Johnson      Increase Your Pricing Knowledge: Become a Champions of Value INSIDER!    To sign up go to insider.championsofvalue.com. Use the promo code 'INSIDERNOW'  to take advantage of our special $5 offer for the first month.  Topics Covered:   01:42 - What his product management role look like thirty years ago   03:52 - What are the roles of product managers and product marketing managers   08:48 - Why the need for clarity on buyer persona, market size, and positioning   11:58 - Are product managers thinking about the value or are they just thinking about problems   15:59 - Why write a business case and why the need for due diligence on an idea    17:49 - How to value a feature or solution   21:53 - Stressing about the importance of product strategy, product planning, and product growth   25:03 - The best pricing advice he has   Key Takeaways:   Quoting Luke Hohmann: “A product owner, now a product manager owns pricing, a product owner doesn't.” - Steve Johnson   “Right now, I'm kind of enamored with three brand new titles that I made up, product strategy, product planning, product growth because other people have got all this baggage with product manager or product owner and or product marketing manager. But I like those three titles because it aligns directly with what I'm wanting them to do, which is come up with a strategy for future products or come up with a plan for what we're going to do next or look for ways to grow the products we have now.” - Steve Johnson   “All of my work is really around pretty simple metaphors like, all right, now that you have those three roles or one role, let's write down everything you expect those people to do and I'll show you how to decide whether those things are product things, development things or sales things.” - Steve Johnson   People / Resources Mentioned: Luke Hohmann Natalie Louie Innovation Games: Creating Breakthrough Products Through Collaborative Play by Luke Hohmann Quora Reddit Hired Zuora Oracle   Connect With Steve Johnson: LinkedIn Twitter sjohnson717.com Under10consulting.com   Connect with Mark Stiving:    Email: [email protected]     LinkedIn     Twitter