Product managers are tasked with answering one fundamental question: how do we make money? It's their job to worry about increasing revenue, keeping customers happy, and choosing the right markets, distribution channels, products and pricing strategies.
But it's not easy to optimize and prioritize limited software development resources and investments. Even when their technology stays one step ahead of competitors, they still need ways to monetize these innovations. The right packaging, software licensing and entitlement management strategies are crucial to drive new revenue streams.
So how can product managers choose between all the options? How do they decide whether to offer products as SaaS, cloud, virtual, on-premises or even embedded in devices? How do they systematically gather usage data to make informed decisions? And once they decide, how do they quickly implement their business and licensing model of choice?
Whether it's a one-time perpetual fee or a subscription program, and whether they tie the fees to the machines or the users, they have to find ways to continually grow revenue while preventing software piracy and converting overuse into revenue. As it turns out, answering the money question means dealing with a million others.
So how do they better understand market requirements to make the right product strategy decisions?
Flexera Software's Application Usage Management solutions for application producers help Product Managers better understand market requirements, enabling them to:
Increase packaging and pricing effectivenessCustomers are demanding new licensing models that allow them to pay for software consistent with how they use it. New markets frequently require different models and price points from established ones. Having the flexibility to target different markets and to rapidly adopt new licensing models to outmaneuver the competition puts Product Managers in the position to increase product line revenues and profitability.
Understand product usageUnderstanding exactly how your customers are using your products, whether they are upgrading/updating and which platforms/environments they are using are critical insights for a Product Manager that are hard to achieve. Having in-product analytics to deliver this information enables fact-based decisions on end-of-life decisions, platform support, maintenance policies and more.
Flexera Software solutions are proven in over 80,000 customers, delivering Product Managers the insights and flexibility they need to quickly react to changing market requirements and make fact-based decisions that increase product line revenues and profitability.