If you’re like most software producers, you need to improve your processes to drive more revenue, deliver more insights and increase efficiency – which is not unlike improving at golf.
For hacks like me, this past weekend spent watching the Masters was an amazing spectacle to behold. These guys are so good, and so many aspects of their game are developed to near-perfection.
Not unlike the professionals I have my own aspiration in golf, albeit less challenging than winning a green jacket: to win my local club championship. It’s an attainable goal that will take focused work in some key areas, as anyone that has played with me can attest :)
To reach my goal I have to achieve a certain level of competency in some key areas including ball striking and putting. I can’t “boil the ocean” and take on every area all at once, and like many of you I have real constraints like having a day job.
The same approach applies when we talk to software producers about accomplishing their business goals. We often hear producers say things like “we need to boost revenue, better understand our customers, improve efficiencies” and more. Those all sound great, but we ask them as you should ask yourself - what specific steps will you take to get there?
This is where the Software Monetization Maturity Model (Model) comes into play: it aligns your business goals (winning the club championship) with your software operations (putting practice, coaching) to ensure success.
First, identify your goals by process area (licensing & security, entitlement management, delivery & updates, in-product analytics). Then identify how “mature” your respective process areas are today (reactive, enabled, automated, optimized) and plot where you want your maturity level to be for the given process area. Then build your tactics to bridge the gap. Summary of the Model below:
Keep in mind that you may not have the resources in people, process or technology – or even the desire – to reach an “optimized” stage for every process area, or to improve all areas at once. This is quite common and many take a more pragmatic approach of targeting one or two areas first. Maybe you target licensing first: moving from manual processes and inflexible software licensing models (“reactive” state) to one that is more flexible and allows for new licensing models (“enabled” state).
Applying the Model has helped many producers align their business goals with software operations and has proven to be a very successful approach. I think it can help you too – more resources on the Model below.
Software Monetization Maturity Model Resources: