primary market research skills clinic
TRANSCRIPT
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PRIMARY MARKET RESEARCH SKILLS CLINICElaine Chen, Founder, ConceptSpring; Senior Lecturer, MIT Sloan School of Management; Entrepreneur in Residence, Martin Trust Center for MIT Entrepreneurship
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WHAT WE ARE GOING TO DO TODAY• 5 minute exercise• Crash course on PMR• Exercise 1: Detailed interview• Exercise 2: Card sorting• Exercise 3: Landing page• Discussion
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5 MINUTE EXERCISE
• Name • What they do• What does “PMR” mean to them• What PMR have they done in the past,
and for what types of projects
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SHARING!
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WHY DO PRIMARY MARKET RESEARCH?
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“THERE ARE NO FACTS INSIDETHE BUILDING, SO GET THE HECK OUTSIDE.”
Steve Blank
Entrepreneur, Author, Stanford Professor
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A QUICK PRIMER ON PRIMARY MARKET RESEARCH
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QUALITATIVE VS QUANTITATIVEIm
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COMMON QUALITATIVE TECHNIQUES• Interviews• Observation / Shadowing• Immersion• Card sorting• …
Image credit: unbouncecom, facebook.com, istockphoto.com
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COMMON QUALITATIVE TECHNIQUES• Interviews• Observation / Shadowing• Immersion• Card sorting• Focus groups• …
Image credit: unbouncecom, facebook.com, istockphoto.com
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COMMON QUALITATIVE TECHNIQUES• Contextural Interviews• Observation / Shadowing• Immersion• Card sorting• Focus groups• …
Image credit: unbouncecom, facebook.com, istockphoto.com
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COMMON QUANTITATIVE TECHNIQUES• On line surveys
• General interest• Purchase intent• Pricing studies• Customer satisfaction• …
• Digital experimentation• Landing pages• FB Ads / Google Adwords• …
Image credit: sachinrekhi.com, istockphoto.com
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COMMON QUANTITATIVE TECHNIQUES• On line surveys
• General interest• Purchase intent• Pricing studies• Customer satisfaction• …
• Digital experimentation• Landing pages• FB Ads / Google Adwords• …
Image credit: sachinrekhi.com, istockphoto.com
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A FEW TENETS
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NOT A SALES PITCH
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LISTEN AND OBSERVE
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BE OPEN MINDED
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IT’S OK TO #FAIL
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WHEN DO WE DO RESEARCH?
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STAGES OF A NEW VENTURE
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“Is there a there there?”
Understanding the customer
Developing the solution
Testing the go-to-market strategy
Testing the biz model & pricing
Measuring customer satisfaction
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BEFORE AND AFTER
1 52 3 4 6
“Is there a there there?”
Understanding the customer
Developing the solution
Testing the go-to-market strategy
Testing the biz model & pricing
Measuring customer satisfaction
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PROBLEM RESEARCH VERSUS SOLUTION RESEARCH
1 52 3 4 6
Understanding the customer
Developing the solution
Testing the go-to-market strategy
Testing the biz model & pricing
Measuring customer satisfaction
Problem research
Solution research
“Is there a there there?”
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DIFFERENT TOOLS ARE BETTER AT ANSWERING DIFFERENT QUESTIONS
1 52 3 4 6
Understanding the customer
Developing the solution
Testing the go-to-market strategy
Testing the biz model
Measuring customer satisfaction
“Is there a there there?”
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CASE STUDY: RETHINK ROBOTICS
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1 52 3 4 6
Defining the problem
Understanding the customer
Developing the solution
Testing the go-to-market strategy
Testing the biz model & pricing
Measuring customer satisfaction
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CLASSIC PROCESS FOR USER-CENTERED DESIGN
1 52 3 4 6
Understanding the customer
Developing the solution
Testing the go-to-market strategy
Testing the biz model
Measuring customer satisfaction
“Is there a there there?”
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CASE STUDY: ZEO
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1 52 3 4 6
Understanding the customer
Developing the solution
Testing the go-to-market strategy
Testing the biz model & pricing
Measuring customer satisfaction
“Is there a there there?”
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QUALITATIVE BLENDS INTO QUANTITATIVE
1 52 3 4 6
Understanding the customer
Developing the solution
Testing the go-to-market strategy
Testing the biz model
Measuring customer satisfaction
“Is there a there there?”
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CASE STUDY: ACCUMARK 3D33
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1 52 3 4 6
Understanding the customer
Developing the solution
Testing the go-to-market strategy
Testing the biz model & pricing
Measuring customer satisfaction
“Is there a there there?”
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CALL TO ACTION:REGISTER FOR A WEBINAR
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“CURRENCY”: PURCHASE INTENT VALIDATION• Pre MVP examples:
• Email address for wait list• Scheduled meeting with stakeholder• Letter of intent (LOI)• Preorder (Credit card – or issued PO)• …
• Post MVP examples• Paid beta• …
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1 52 3 4 6
Understanding the customer
Developing the solution
Testing the go-to-market strategy
Testing the biz model & pricing
Measuring customer satisfaction
“Is there a there there?”
USE EVERY TRICK TO ANSWER THIS BURNING QUESTION
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LET’S DO THIS!
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3 GO-TO TECHNIQUES WE WILL PRACTICE TODAY
Interviews Card sorting Landing pages
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WORKSHOP 1: INTERVIEW
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PRO-TIPS
• ”Tell me about the last time…”• “Tell me about how you…”• ”Tell me the story of…”• ”You said XXX. Tell me more?”• “Why?” | “Why not?”• …• TALK LESS, LISTEN MORE
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SIMULATION: PRETEND THIS IS YOUR IDEA.
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• ”Tell me about the last time…”• “Tell me about how you…”• ”Tell me the story of…”• ”You said XXX. Tell me more?”• “Why?” | “Why not?”• …• TALK LESS, LISTEN MORE
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SHARING!
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WHY INTERVIEWS WORK• Best choice when you don’t know what
you don’t know • Excellent ROI for time invested• Gives your customers a face and a name• Learnings will help you with future
research (qualitative or quantitative)
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WORKSHOP 2: CARD SORTING
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PRO-TIPS
• Make the features as small as possible• Run the card sorting in 2 stages:
• Elimination• Prioritization
• Ask the test subject to keep talking while sorting – and take notes along the way
• KEEP IT MOVING!
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SIMULATION: 5 MINUTE PREP• Brainstorm 15 features• Write down 1 feature per card• Make the features as separate as possible• KEEP IT MOVING!
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SIMULATION: ACTUAL CARD SORTING• Step 1: Elimination• Step 2: Sorting• Active listening: Ask why / why not• KEEP IT MOVING!
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SHARING!
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WHY CARD SORTING WORKS• Fast and cheap• Behavioral, not conversational
• Not possible to lead the witness• Data even with shy subjects
• 2 for 1 technique with debrief!
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WORKSHOP 3: LANDING PAGE TO TEST PURCHASE INTENT
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A TYPICAL LANDING PAGE EXPERIMENT
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Design landing page(s) with a call to action
State the hypothesis
Design an experiment
Send out landing page to
suspects
Wait for results to come in
Analyze sales funnel metrics
Persevere or pivot?
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THE ANATOMY OF A LANDING PAGE EXPERIMENT
• The landing page itself• Test objectives• Currency• Call to action• Threshold• Marketing
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PRO TIPS
• Treat it like an ad• 2 types of Calls to Action (CTA)
• Interest: “Learn more”• Purchase intent: “Buy now”
• 2 kinds of tests• Normal user behavior: Good design• Level of pain: Bad design
• Marketing: Email / Social / …Image credit: http://www.disruptiveadvertising.com/
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SIMULATION: LANDING PAGE TEST
• The landing page itself• Test objectives• Currency• Call to action• Threshold• Marketing
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SHARING!
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WHY LANDING PAGES WORK (IF APPLICABLE)
• Behavioral, not conversational• Currency is the best proof• Forces conversation on go-to-market• Exercises end to end workflow• Yields funnel metrics• Note: Only works if test subjects are
on line (yes, there are still offline humans)
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STEP BY STEP GUIDE TO STARTUP PMR
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PMR, PROCTER AND GAMBLE STYLE• Expensive (hundreds of
thousands of $ and up)• Long (3-9 months)• Often done in conjunction
with an agency
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Image credit: continuuminnovation.com
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PMR, STARTUP STYLE
• Cheap • Fast• DIY. NOT rocket science.
You can do this.
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“THERE ARE NO FACTS INSIDETHE BUILDING, SO GET THE HECK OUTSIDE.”
Steve Blank
Entrepreneur, Author, Stanford Professor
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WHAT WE TALKED ABOUT TODAY• Crash course on PMR• Exercise 1: Detailed interview• Exercise 2: Card sorting• Exercise 3: Landing page
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LEARNING MORE
• “Talking to Humans” E-book - GiffConstable
• UX for Lean Startups: Faster, Smarter User Experience Research and Design – Laura Klein
• Resources section of ConceptSpring website - Elaine Chen
• Templates and samples – Elaine Chen
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DISCUSSION +
ASK ME ANYTHING
@chenelaine blog.conceptspring.com
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THANK YOU@chenelaine blog.conceptspring.com