discuss l3, customer segments agenda: – discuss customer segments (l3) coming up: report on value...
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Discuss L3, Customer Segments• Agenda:
– Discuss Customer Segments (L3)• Coming up:
• Report on Value Proposition (L2)• Report on L3• Discuss Channels (L4)
Deliverable Recommendations
• Follow the format– Answer all the questions
• Look for where you were WRONG• Meet ahead of time to discuss to plan so that
you follow the lean startup process– This is not just a data dump– Good evidence and clear insights are the goal
Types of Markets – They Matter
• Clone Market– Copy of a U.S. business model
• Existing Market– Faster/Better = High end
• Resegmented Market– Niche = marketing/branding driven– Cheaper = low end
• New Market– Cheaper/good enough, creates a new class of product/customer– Innovative/never existed before
Clone Market
Existing Market Resegmented Market
New Market
Market Type determines: Rate of customer adoption
Sales and Marketing strategies Cash requirements
Market TypeExisting Resegmented New
Customers Known Possibly Known Unknown
Customer Needs
Performance Better fit Transformational improvement
Competitors Many Many if wrong, few if right
None
Risk Lack of branding, sales and distribution ecosystem
Market and product re-definition
Evangelism and education cycle
Examples Google Southwest Groupon
Who are you building this for?
• Name, draw out, and describe the customer archetype of the payer (economic buyer)– Develop several very quickly – focus on #’s– Identify facts and demographics– Brainstorm common behaviors– Find needs & goals that your product will solve– Consolidate your ideas as a team– Of the many archetypes, focus on one– Identify key assumptions that, if wrong, will cause
your business to fail
Archetypes
Multiple Customer Segments
• Each has its own Value Proposition• Each has its own Revenue Stream• One segment cannot exist without the other• Which one do you start with?
Customer Types
• Can you create an archetype for each?
Customer Problem
How Do They Interact to Buy?
• Diagram it!– Organization Chart– Influence Map– Sales Road Map
MammOpticsPrivate practice purchasing decision tree
Pass/Fail Signals & Experiments
• How do you test interest?• Where do you test interest?• What kind of experiments can you run?• How many do you test?
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