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Customer Development

Customer Development. Week 3. Agenda. 5:30 – Team Stand Up 5: 40 – Market Segments and Customer Development 6:30 – Activity 7:25 – Review. Objectives. Introduce Market Segments Introduce Customer Development. Market Segments & Customer Development. Speaker Name Title

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Customer Development

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  1. Customer Development Week 3

  2. Agenda • 5:30 – Team Stand Up • 5:40 – Market Segments and Customer Development • 6:30 – Activity • 7:25 – Review

  3. Objectives • Introduce Market Segments • Introduce Customer Development

  4. Market Segments &Customer Development • Speaker Name • Title • Credentials

  5. Market Segments • New Market • Existing Market • Resegmented Market • Niche • Lower cost

  6. Why does it matter? Your approach will be different depending on the market segment.

  7. What is your Market Segment? If there is no established or well defined market and there are no existing competitors you are in a NEWmarket

  8. New Market • Requires a lot of time and money to create the market. • Need to find early adopters and educate them on the value of the solution.

  9. What is your Market Segment? If there is an established and well defined market with lots of customers, but you offer something “better” (performance, features, service) you are in an EXISTINGmarket

  10. Existing Market Competing based on “performance”differences. Requires branding to differentiate from competitors + lots of money! vs vs vs

  11. Existing Market An existing market but offer virtually the same features at a LOWER COST. vs

  12. Resegmented Market If you are carving out a small part of a bigger market to offer something with a uniquely more compelling value you are in RESEGMENTED (or niche) market. Communication tools for business people vs. Communication tools for architects

  13. What is YOUR Market Segment? In your group, take a few minutes to talk about what market segment your app idea falls under.

  14. Customer Development Process • Problem / Solution Hypothesis • Market Research • Personas • Get Out of the Building • Problem / Solution Fit • MVP - Minimally Viable Product

  15. Customer Development “Customer development isn’t asking customers what they want—it’s seeking to understand what they need, how they work, where their pain points and highest priorities are. ” —Cindy Alvarez

  16. Customer Development • What will I learn? • The short answer: how people are really getting a task done, who is doing what, and why it sucks. • How long will it take? • I don’t know. Sorry, but that’s the truth.  • How can I find customers before I’ve even built a product? • How were you planning on finding them afteryou’ve built a product? Source: www.cindyalvarez.com

  17. Customer Development • In Market Research you uncovered places where people that should be interested in your product “live”on the internet • Customer development is the process of connecting with them to learn from them • As your relationship to the problem/solution and market changes and evolves, so will what you need to know. Source: www.cindyalvarez.com

  18. Customer Development • One goal of customer development is to survey people to find out if what you think it true about them is actually true about them • Another goal is to find out if there are ways people are solving that problem that you are unaware of Source: www.cindyalvarez.com

  19. There are a number of ways you can do customer development, and they all require you to “get out of the building”—either physically or virtually! Get Out of the Building Source: www.cindyalvarez.com

  20. Twitter Search • An effective way of reaching people…plus it is free! • Summarize your idea and build a survey to capture feedback. • Reach out to people who have already discussed a similar product, problem, or solution and address a tweet directly to them. Source: www.cindyalvarez.com

  21. Sample Tweet: Source: www.cindyalvarez.com @username Would love yr feedback on [product/problem/solution] – shd only take 2mins [URL] thanks!

  22. Email Templates Source: www.cindyalvarez.com “Request” email templates “Referral Request” email template “Tweet Request” email template

  23. Surveys • Your surveys will be different depending on how you found people and whether you have found problem/solution fit. • Your first survey may need to focus on qualifying the subject and asking for contact information • Another survey will begin to ask them about their behavior / needs • Your third survey might ask them to test or give feedback on your MVP Source: www.cindyalvarez.com

  24. Survey Best Practices • No survey should have more that 10 questions. • Use multiple choice questions that can be answered by checkboxes so people don’t have to think too hard to participate • Using multiple choice you can also allow for more than one answer Source: www.cindyalvarez.com

  25. Asking for Data • When you are searching for problem/solution fit you will be asking questions about your problem and/or solution hypothesis • Find out if your subjects have the problem • Find out how they are solving it • Ask about their behavior and needs • Get contact information so you can ask for the interview Source: www.cindyalvarez.com

  26. Asking the Right Questions • When you write down your problem/solution hypothesis you will have made some assumptions about people who will use or buy your product. • State your assumptions • Prioritize in order of highest risk to lowest • You want to test the riskiest assumptions first Source: www.cindyalvarez.com

  27. Asking for an Interview You have three main goals with this survey: • Communicate your idea in 10 seconds or less • Offer something interesting to the people who visit • Get contact information so you can ask for the interview Source: www.cindyalvarez.com

  28. Sample Survey Source: www.cindyalvarez.com

  29. Activity • Brainstorm Personas • Write Interview Questions • Set up SurveyMonkey • Create Surveys • Plan Outreach

  30. Brainstorm Personas Find the Persona tab in your team’s Technovation Workspace on Google Docs

  31. Interview Questions • Write the interview questions before you write the survey intro • Phrase questions in a relevant way to the subject • Make sure the questions get you information that is useful – don’t waste their time! • Use formatting options for questions to get more information in fewer questions. • Check for typos, spelling and grammatical errors. • Test the survey before making a public request!

  32. Sticky Note Activity • Write as many questions as you can for the potential customer of your product • Write each question on a sticky note • You have 5 minutes!

  33. Survey Intro • 10 seconds to get attention • Your survey introduction must persuade them to contribute • Who are you persuading? • What are you persuading them of?

  34. Survey • You will likely do many surveys, so don’t stress over it. • You are looking for people who will be your customer or has influence over your customer. • Ask only whether they meet the criteria you are looking for—one of the right people.

  35. Go to http://www.surveymonkey.com to sign up for a new account • Choose “sign up with your Google account” on the right • Click “Create Survey” • Choose “Create a new survey” and title your survey • Choose “Market Research” as the Category • Create questions • Preview survey • Email to mentor and teammates to test and double check that it is going to get you what you want in the way of information.

  36. Customer Development • Create your first survey • Send the survey—in person, by phone, or online • If you are doing phone interviews have the survey in front of you and fill it out. • In-person interviews you should print out a survey so you can be consistent in data capture and collection. • ALWAYS: transcribe the data back into your team Workspace

  37. Measure and LearnExample Survey A Results Find the Example Survey A tab in your team’s Technovation Workspace on Google Docs

  38. Measure and LearnExample Survey B Results Find the Example Survey B tab in your team’s Technovation Workspace on Google Docs

  39. Reminder:Weekly Reflections • What did your team like about this week? • What challenges did your team have this week? • Anything else your team would like to share?

  40. Technovation Challenge Google Group

  41. Share with us onTwitter & Facebook Tweet us: @_technovation_ #technovation Like us on Facebook: Technovation Challenge

  42. Ongoing Offsite Activities • Customer Development • Evaluate Data • Continue learning with App Inventor

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