start-ups forum market validation · start-ups forum market validation. luxembourg internet days...

22 November 2016

All right reserved

Start-ups forum

Market Validation

Luxembourg Internet Days – 22 Nov. 2016 – All right reserved

64,2 % of Kickstarter projects are not successfully funded (since 2009)

46 % on KissKissBankBank(since 2010)

35 % on Ulule (since 2012)


« Life is too short to keep building something

nobody (or not enough people) want »

Ash Maurya


To win in established markets, the modern marketing model is

ProductPricePlacePromotion


You must adopt a new lean approach

To open new markets with disruptive products/services


Ideas

Build

Product

Measure

Data

Learn

Lean Startup

Source: Eric Ries


Understand Problem

Define Solution

Validate Qualitatively

Verify Quantitatively

Market Validation = Validated Learning

Problem / Solution Fit Product / Market Fit

Source: Ash Maurya


CONVERSATIONS OBSERVATIONS

In early stage, prefer qualitative learningover quantitative tests

« Don’t ask what the customers want, measure what they do »

Understand whyRich Communication

Open to explore and discoverNo group thinking bias


Form a pair

Think about a challenge for settling down in Luxembourg

Decompose it into 3 concrete problems

Let’s try it!5 minutes


Change peer (find someone else on customer side)

1. Welcome

2. Learn about your interviewee

3. Tell a story (set the problem context)

4. Rank the 3 problems

5. For each problem, explore existing alternatives

6. Close

Talk to a potential customer12 minutes


We want to learn about

• Customer segment

• Problem

• Existing alternatives

Problem Interviews

Source: Ash Maurya



• Early adopters

• Solution demo

• Pricing fit

Solution Interviews

Source: Ash Maurya


DESIGN SPRINT in a week

Source: http://www.thesprintbook.com/



• Unique Value Proposition

• Enough customers (channels)

• Revenue streams (pricing)

MVP Interviews


Continue the conversation with beta users

…until launch

Refine your MVP


Iterative & Incremental

1. Partial Rollout, usability interviews…

2. Full Rollout, usage metrics…

Agile Product Development


Measuring Growth – AARRR


Sample Techniques and Tools

Testing the problem

Customer interviews

Landing page

AdWords

Testing the solution

Explainer video

Mockups

Interviews

“Sell it before your build it”

Crowdfunding

Testing the market

Wizard or Oz

Concierge


How would you feel if you could no longer use [product]?

1. Very disappointed

2. Somewhat disappointed

3. Not disappointed (it isn’t really that useful)

4. N/A – I no longer use [product]

If over 40% of users respond to the survey saying they'd be "Very disappointed" to stop using your product, there's a great chance your solution has found Product/Market Fit.

Product/Market Fit – the Sean Ellis Test


Continuously identify and test your riskiest assumptions

Market Validation


Sylvain CHERY – Director

• [email protected] ; @sylchery ; +352 691 555 221

Follow us on:

Corporate Web Site : http://www.agilepartner.net

Blog: http://blog.agilepartner.net

Facebook Page : http://www.facebook.com/agilepartner

Twitter Account: http://twitter.com/agilepartner

Slideshare: http://www.slideshare.net/agilepartner

LinkedIn: https://www.linkedin.com/company/agile-partner-s.a.

Contacts

mailto:[email protected]

http://www.agilepartner.net/

http://blog.agilepartner.net/

http://www.facebook.com/agilepartner

http://twitter.com/agilepartner

http://www.slideshare.net/agilepartner

https://www.linkedin.com/company/agile-partner-s.a.


25-27 November 2016

Technoport Esch Belval

More info and registration: http://www.up.co/communities/luxembourg/luxembourg/startup-weekend/10005

http://www.up.co/communities/luxembourg/luxembourg/startup-weekend/10005

start-ups forum market validation · start-ups forum market validation. luxembourg internet days...

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