It is easy to be myopic when you’re the head of product or technology at one of today’s fast-paced ad tech organizations, working to develop products that meet the needs of very specific stakeholders.
But I joined a company that has to prioritize the needs of multiple stakeholders in our ecosystem – publishers, advertisers and users.
And sometimes, their interests can be in direct conflict.
Friction is inevitable, but there’s a lot to learn from this predicament.
Product marketing for multiple stakeholders
The key to developing a marketing strategy that spans multiple products and stakeholders is to not only identify technical interdependencies of different product teams (or even subsidiaries), but also the conflicting interests of the stakeholders.
For example: A company sells header bidding integrations to publishers. The solution focuses on the primary stakeholder (publishers) receiving the highest number of demand-side bids possible, driving up the price of the auction and getting the publisher the highest yield on their ad space.
For a short time, the publisher has an increased revenue stream but notices incremental drops in readership. The more programmatic ads sending bid requests on a user’s browser, the higher the network latency will be, which has a direct correlation to monetization and is a surefire way to turn away users. See how this is not a sustainable solution?
When dealing with the interdependencies of different stakeholders’ interests in a dynamic market, it is critical to identify potential conflicts. From there, you can identify where and how friction occurs – and then alleviate it. Every organization will have its unique challenges, but here are five foundational tips to follow.
1. Identify and prioritize potential conflicts
Align and communicate the product planning and road maps to all product managers, so they are aware of what’s planned. This helps identify any potential conflicts and ensures they can be resolved quickly and efficiently.
2. Remove silos between internal product teams and departments
This will optimize team structuring and foster open communication.
3. Build a strong product community companywide
Different product teams can teach and learn from each other, finding the best way to collaborate and resolve any negative impacts on stakeholders outside their purview. Include knowledge-sharing sessions as part of dev cycles to strengthen their collaboration.
4. Empower product managers
Trust them as experts who know exactly what their respective stakeholders need. Allow them to define ideas, hypothesize and experiment.
5. Holistic outcome-oriented approach
Product marketers may rely on different success metrics, but these must be made transparent throughout the organization. The PMs need to understand the interests and conflicts across teams using data, research and experimentation.
This interplay allows for a generative environment that pushes the boundaries and produces innovative, differentiated products.
A unified user strategy
Prioritizing the stakeholder with the highest monetary return could spell missed opportunity. And don’t forget the most important stakeholder: the end user. A unified user strategy is critical. When you create something that truly benefits customers, you open the door for increased payout over the long term by developing a distinctive market differentiator.
From privacy to carbon footprint, users are more vocal, and regulators are noticing. Turn these challenges into opportunities. What might, at face-value, seem like something to rail against could have the potential to get you ahead of your competitor. If users are demanding it, eventually it will become something your stakeholder will want a solution for.
In the long run, happy users bring value to all of our stakeholders. Businesses that forget the end user do so at their peril.
“Data-Driven Thinking” is written by members of the media community and contains fresh ideas on the digital revolution in media.
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