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Lean Market Analysis

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Understanding why market research is changing
Understanding customer discovery
The 5 big Q‘s of market research:
-What do you want to learn?
- Who d o you want to learn from?
- How will you get to them?
- How can you ensure to be effective?
- How do you make sense of what you learn?

Veröffentlicht in: Business
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Lean Market Analysis

  1. 1. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Market Research Lecture SIBE21.2.2015 Dr. UteHillmer
  2. 2. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Dr. Ute Hillmer ist Experte in der Vermarktung erklärungsbedürftiger Produkte und Services, mit einem Schwerpunkt auf neuen Dienstleistungen und Innovationen. Was genau ist es, das Ihre Kunden suchen, wenn Sie Ihr Produkt kaufen? Worauf kommt es Ihren Kunden besonders an? Sie wissen es? Sind Sie sicher? Begeisterte Fan-Kunden sind weder Geniestreiche noch Glücksache. Sie basieren auf ganz, ganz viel detailliertem Kundenverständnis und einer sehr konsequenten Umsetzung.
  3. 3. 21.02.2015 Dr. Ute Hillmer www.better-reality.com The New Market Research Manifesto 1. New media allows for new methods in market research 2. New management methods require new methods in market research. 3. Learning first hand about the customer, the value he is willing to pay for and to develop a product or service that delivers this value is called CUSTOMER DISCOVERY. 4. Customer Discovery is NOT ABOUT statistically relevant answers. It is about the questions: Where do we find hints and patterns what our customers want and what they are willing to pay for 5. Customer Discovery is all about fast, agile and lean. 6. Customer Discovery is a way to built market focused innovations, that don‘t take forever and that don‘t eat an endless research budget.
  4. 4. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Thislectureisabout… • Understanding why market research is changing • Understanding customer discovery • The 5 big Q‘s of market research • What do you want to learn? • Who do you want to learn from? • How will you get to them? • How can you ensure to be effective? • How do you make sense of what you learn?
  5. 5. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Agenda 1. Why does MR matter? 2. Why is MR changing? 3. The big 5 Q’s of Market Research: 1. What do you want to learn? - B-Model and Value Proposition Exercise 2. Who do you want to learn from? - Your typical customer - Your early adopter 3. How will you get to them? - The Basics of Market Research - Overview on Methods - Google Tools for Market Research (by Jens Tonnier, wolter eMktg.) - Social Media Monitoring 4. How can you ensure to be effective? - Changes in Market Research - Interviews: Talking to People - Afternoon Exercise 5. How do you make sense of what you learn? - Testing and re-testing our “product”
  6. 6. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Why does Market Research matter?
  7. 7. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Q1:What doyouwant to learn?(Purpose) • Size of the market • Market trends • Forecasting • Planning • Evaluation of Strategies/promotions • Assessing marketing mix • Identifying market segments • Identifying consumer needs • Identifying competition • Identifying opportunities/gaps in the market • Reduce riskCartoon copyright of Giff Constable, „Talking to Humans“
  8. 8. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Anewproductintroduction, anewbusiness: Howdoyouknowyour mostimportant questions? • What are the assumptions you are making? • From those assumptions, what are the most important and most risky ones? • E.g. the VALUE you provide to your customer:
  9. 9. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Whatareyour mostimportant andmost risky assumptions youaremaking? • E.g. the VALUE you provide to your customer:
  10. 10. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Whatareyour mostimportant andmost risky assumptions youaremaking? • How you reach your customers Quelle: businessmodelgeneration.com • How you make money
  11. 11. 21.02.2015 Dr. Ute Hillmer www.better-reality.com BusinessAssumptionExercise, 20 Minutes 1. Getting Ready Groups of 3-5 people Agree on your new product idea: you plan to develop (choose one) • a Dating App, • a Sports Appointment App, • or a Car Sharing App 2. Go along with the Q’s given on the next slide and agree on a business model how the app will stand out from the rest and how it will generate customers + revenue (be creative and wild, have fun with it! It’s just an exercise) 3. Write down the answers to the questions and find the key 5-7 assumptions you are making that are critical for success and especially those that are highly speculative. They are your research priority!
  12. 12. 21.02.2015 Dr. Ute Hillmer www.better-reality.com BusinessAssumption Exercise (cont.) Findyourkeyassumptions • My target customer will be? (How would you describe your primary customer? Archetypes?) • The problem my customer wants to solve will be? (What are they struggling with and what need is unfulfilled?) • My customers needs can be solved with? (be concise ; an elevator pitch of the solution) • Why can‘t my customer solve this today? (What are the obstacles?) • The measurable outcome my customer wants to achieve is? (What measurable change in your c‘s life makes them love your product?) • My primary customer acquisition tactic will be? (most likely you have multiple mktg. Channels, bit 1-2 will dominate) • My earliest adopter will be? (remember: no mainstream without early adopters) • I will make money(revenue) by? (pick the primary ones) • My primary competition will be? (direct and indirect competition) • I will beat my competitors primarily because of? (what truly differentiates you?) • My biggest risk to financial viability is? (what could prevent from breaking even? Can you de-risk something?) • My biggest technical or engineering risk is (is there a major tech. challenge that might hinder building the product?) • What assumptions do we have that, if proven wrong, would cause this business/product to fail? Then: Mark the assumptions that will have a large impact on your business Mark the assumptions that you feel highly uncertain about They are your research priority!
  13. 13. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Schlüssel- Partner • Wer sind unsere Schlüsselpartner? • Wer sind unsere Hauptlieferanten? • Welche Ressourcen beziehen wir vom Partner? • Welche Aktivitäten führen unsere Partner aus? Wer / Wie / Was ? Business Model Canvas Wert- Versprechen • Welchen Mehrwert bieten wir unseren Kunden? • Welche Kundenprobleme lösen wir? • Welches Bündel an Dienstleistungen/Produkten bieten wir unseren Zielkunden? • Welche Kundenbedürfnisse befriedigen wir? Kunden- Segmente • Für wen schaffen wir einen überzeugenden Mehrwert? • Welche sind unsere wichtigsten Kundensegmente? • Massenmärkte, Nischenmärkte, segmentiert, typisiert, multi-sided Haupt- Aktivitäten • Welche Aktivitäten schulden wir durch unser Wertversprechen? • …unsere Vertriebskanäle? • …unsere Kundenbeziehung? • …die Einkommensströme? Vertriebskanäle • Wie wollen Kundensegmente erreicht werden? • Wie erreichen wir sie heute? • Wie sind Distributionskanäle integriert? • Welche sind am Erfolgreichsten? • Welche sind am Kostengünstigsten? • Wie integrieren wir Kanäle mit Kaufprozess d. Kunden? Haupt- Ressourcen • Welche Ressourcen benötigen wir zur Erfüllung des Wertversprechens? • …unsere Vertriebskanäle? • …unsere Kundenbeziehung? • …die Einkommensströme? Kunden- Beziehungen • Wie sollen die Beziehungen mit Kundensegmenten angebahnt und gepflegt werden? • Welche sind bereits etabliert • Wie sind sie i.d. Rest d. Geschäftsmodells integriert? • Wie Aufwendig sind Aufbau und Unterhalt? Kostenstruktur • Was sind die Hauptkosten unseres Geschäftsmodells? • Welche Hauptaktivitäten verursachen diese Kosten? • Welche Hauptaktivitäten bewirken die höchsten Kosten? Einkommensströme • Für welchen Mehrwert sind unsere Kunden wirklich bereit zu bezahlen? • Wofür bezahlen sie gegenwärtig? • Wie zahlen sie zur Zeit? • Wie würden sie bevorzugt bezahlen? • Wie viel trägt jeder Einkommensstrom zum Gesamterlös bei? Quelle: businessmodelgeneration.com Find your most important guesses + the most risky ones!
  14. 14. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Q2:Whodo youwantto learnfrom? 1. The typical customer you envision if you get traction with your idea 2. Your early adopter = the people who will take a chance at your product before anyone else does 3. Critical partners for distribution, fulfillment, other parts of the business your job is to think through the kinds of people who have the problem you are interested in solving! Cartoon copyright of Giff Constable, „Talking to Humans“
  15. 15. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Who doyouwant to learnfrom? • The typical customer you envision if you get traction with your idea • Your early adopter = the people who will take a chance at your product before anyone else does • Critical partners for distribution, fulfillment, other parts of the business MarketSize Laggards 16% Conservative 34% Visionary 13,5% Pragmatist 34% Techy 2,5% your job is to think through the kind of people who have the problem you are interested in solving! Chart based on Rogers 1995, p. 262 und Moore 1999, p.12
  16. 16. 21.02.2015 Dr. Ute Hillmer www.better-reality.com LaggardsLate Majority Early Adopters Early Majority Innovators Time MarketSize TheMainstreamMarket The typical customer, once your product has successfully entered the market Chart based on Rogers 1995, p. 262 und Moore 1999, p.12
  17. 17. 21.02.2015 Dr. Ute Hillmer www.better-reality.com LaggardsLate Majority Early Adopters Early Majority Innovators Time MarktSize TheEarlyAdopters The people who will take a chance at your product before anyone else does. If you can not get early adoptes, you can not move on. Chart based on Rogers 1995, p. 262 und Moore 1999, p.12 Burning problem pic
  18. 18. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Who doyouwant to learnfrominB2B? • Strategic buyer who is excited about the change you can bring) • Economic buyer who controls the purse • Technical buyer who might have approval/blocker rights • User who ultimately uses the product or service Identify champions + saboteurs!
  19. 19. 21.02.2015 Dr. Ute Hillmer www.better-reality.com 20MinuteBreak
  20. 20. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Q3: Howwillyougettothem? inother words:TheMethodology • Internal vs. external sources • Primary vs. secondary research • Quantitative vs. qualitative sources • Methods
  21. 21. 21.02.2015 Dr. Ute Hillmer www.better-reality.com InternalSources • Customer Management System CMS • Internal reports and analysis • Sales data / Retail data - loyalty cards, etc. • Stock Analysis • Web site / eShop data – Retrieve + analyze with Google Analytics – Retrieve + analyze with commercial tools • Social web data – Retrieve + analyze with site-internal tools – Retrieve + analyze with commercial tools
  22. 22. 21.02.2015 Dr. Ute Hillmer www.better-reality.com ExternalSources • Open Data: available statistics + research documents • Open Date: raw data from the internet – Retrieve + analyse with Google tools – Retrieve + analyse with commercial software tools • Commercially available Data • Other Data: magazine surveys, other firms’ research, … • Own Surveys
  23. 23. 21.02.2015 Dr. Ute Hillmer www.better-reality.com PrimarySources • First hand information • Often expensive to collect, analyse and evaluate • Can be highly focussed and relevant • Care needs to be taken with the approach and methodology to ensure accuracy • Types of question – closed – limited information gained; open – useful information but difficult to analyse
  24. 24. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Secondary OpenData Sources
  25. 25. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Secondary Paid Sources http://bit.ly/1vvVZAX
  26. 26. 21.02.2015 Dr. Ute Hillmer www.better-reality.com QualitativeResearch QuantitativeResearch Descriptive: tells you why, when and how Data can be observed but not measured. Colors, textures, smells, tastes, appearance, beauty, etc. Overview Based on numbers: 56% of 18 year olds drink alcohol at least four times a week Data which can be measured: length, height, area, volume, weight, speed, time, temperature, humidity, sound levels, cost, members, ages, etc. Example 1: Oil Painting blue/green color, gold frame; smells old and musty; texture shows brush strokes of oil paint; peaceful scene of the country; masterful brush strokes picture is 50cm by 70cm with frame 60 by 80; weighs 4kg; cost €300 Example 2: Latte robust aroma; frothy appearance strong taste; burgundy cup 200ml of latte; serving temperature 65ºC serving cup 7 inches in height; cost €3.95 Example 3: Freshman Class friendly demeanors; civic minded; environmentalist positive school spirit 672 students; 394 girls, 278 boys 150 students accelerate in math Source: following http://regentsprep.org/ and
  27. 27. 21.02.2015 Dr. Ute Hillmer www.better-reality.com TraditionalQuantitativeResearch Test your assumptions through quantitative research by using • Secondary Research • Do your own primary research • Analyzing available Data
  28. 28. 21.02.2015 Dr. Ute Hillmer www.better-reality.com QuantitativeResearchToday Test your assumptions through quantitative research by using • Secondary Research • Do your own primary research • Analyzing available Data Social Media Monitoring (SMM) Google Tools: • Google Advanced Search • Google Adwords / Keyword Planner (Tool) • Google Trends (Insight) • Google Analytics
  29. 29. 21.02.2015 Dr. Ute Hillmer www.better-reality.com QualitativeResearchToday Test your assumptions through qualitative research • Asking people • Watching people • Go through the experience yourself Questionnaire Focus Groups User Groups Postal Survey Telephone Survey Social Media Monitoring Customer Interviews Test Markets Internet feedback
  30. 30. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Let‘sDigDeeper:Methodsfrom Google Google tools for market research • Google Advanced Search • Google Adwords / Keyword Planner (Tool) • Google Trends (Insight) • Google Analytics Welcome Jens Tonnier from wolter e-marketing GmbH!
  31. 31. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Why Google? Search Engines 2005
  32. 32. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Why Google? The Online Search Ecosystem 2013
  33. 33. 21.02.2015 Dr. Ute Hillmer www.better-reality.com SearchEngine useagein Germany
  34. 34. 21.02.2015 Dr. Ute Hillmer www.better-reality.com GoogleAdvancedSearch Video: https://www.youtube.com/watch?v=yc6ssZnCyuA
  35. 35. 21.02.2015 Dr. Ute Hillmer www.better-reality.com GoogleKeywordPlanner adwords.google.com/KeywordPlanner Know how your customers are searching and talking, get wording ideas and traffic forecasts • Keywords are the phrases that customers use to research and select a product or service • You want to use the words that your target custonmers use + look for search for keyword and ad groups ideas based on terms that are relevant to your product or service, your landing page, or different product categories Get historical statistics and traffic forecasts
  36. 36. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Findinformationin KeywordPlanner • Keywords, Search Volume, Competitiveness (based on AdWords competition) • Note: Only use EXACT match to explore keywords – Exact match = tennis shoes – Phrase match = tennis shoes for women –or- blue tennis shoes size 9 – Broad match = shoes for tennis –or- tennis rackets and shoes • Keywords must be compared “apples to apples” Video: http://youtu.be/bxREkVhzEkw
  37. 37. 21.02.2015 Dr. Ute Hillmer www.better-reality.com • useful for casting and short term forecasting of consumer trends (where statistics is not available or not yet available) • Free publicly available dataset; search per country, category, period • Google taxonomy of 256 categories (“jobs” including “job listings” “career resources and planning”, “resumes & portfolios”, “developing jobs) • Overview of increases and decreases in the use of search category in real time (normalized within search categories) 1 Exploring statistics from the internet GoogleTrends http://www.google.com/trends
  38. 38. 21.02.2015 Dr. Ute Hillmer www.better-reality.com GoogleTrends
  39. 39. 21.02.2015 Dr. Ute Hillmer www.better-reality.com GoogleTrends Video: http://youtu.be/4uNrhACTv_c
  40. 40. 21.02.2015 Dr. Ute Hillmer www.better-reality.com GoogleAnalytics • Does daily, monthly, yearly tracking of web visits – Graphed over time • Shows which pages they go to, how long they stay – Bounce rate – Entrance pages • How they got there – Search engines and Search terms used • Location, operating system, monitor resolution • Over 80 reports available
  41. 41. 21.02.2015 Dr. Ute Hillmer www.better-reality.com GoogleAnalytics How it works • Sign up for Google Analytics – https://www.google.com/analytics/ • They return code to you • You paste the code just below the </body> tag • Put it on EVERY page – Edit>Find and Replace is easiest option • Put it in your template pages, so it will be automatically on every page • Go to the Analytics dashboard page to see daily metrics
  42. 42. 21.02.2015 Dr. Ute Hillmer www.better-reality.com GoogleAnalytics Useful Reports • Visitors: – Map overlay, Browsers, Operating systems, Screen resolution, Connection speed • Traffic sources – Direct links/Referring links/Search engines, Most frequent search words used • Content – Top content, Site overlay Video: http://youtu.be/WC3ONXJn9FQ
  43. 43. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Let‘sDigDeeper:SocialMedia Monitoring
  44. 44. 21.02.2015 Dr. Ute Hillmer www.better-reality.com © 2014 Brandwatch | www.brandwatch.de Einführung/ Der Monitoring-Prozess 27 Daten- erfassung  Query Analyse Präsen- tation Bereini- gung
  45. 45. 21.02.2015 Dr. Ute Hillmer www.better-reality.com 1. Ziele/ Welche Abteilungen werden involviert? Marketing Community/ CRM PR Markt- forschung Vertrieb © 2014 Brandwatch | www.brandwatch.de
  46. 46. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Abteilungen/ Marktforscher Endlich verstehe ich den Markt. © 2014 Brandwatch | www.brandwatch.de
  47. 47. 21.02.2015 Dr. Ute Hillmer www.better-reality.com 51 Marktforscher/Produktwünscheentdecken © 2014 Brandwatch | www.brandwatch.de
  48. 48. 21.02.2015 Dr. Ute Hillmer www.better-reality.com 52 Marktforscher/Produktwünscheentdecken © 2014 Brandwatch | www.brandwatch.de
  49. 49. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Q4:Howcanyou ensureto beeffective? • Changes in Market Research!
  50. 50. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Customer Development • Customer Development Customer Problem: known Product Features: known Illustration copyright of Steve Blank, „The Startup Owners Manual“
  51. 51. 21.02.2015 Dr. Ute Hillmer www.better-reality.com And why is MR changing?
  52. 52. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Whymust Market Research change? 9outof10product innovations arefailing Corporate giant or small star-up, low-tech or high tech, online or offline, 9 out of 10 new ideas fail because… our tools are optimized for execution Illustration copyright of Steve Blank, „The Startup Owners Manual“ With innovations, you need to be in search mode!
  53. 53. 21.02.2015 Dr. Ute Hillmer www.better-reality.com ATaleof Fail
  54. 54. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Webvan:a tailof fail • A startup that promised delivery of groceries within 30 minutes of ordering, from state-of-the-art order fulfillment centers manned by advanced robots. • Launched 1999; • $10M, within 2 years $400M, raised; • 8.5 billion market capitalization on day of IPO • They had a compelling story, a great b-plan, a long list of features for SW, warehouse handling,… • Webvan executed as its board and investors asked • from launch to fail in 2 years perfectly on plan
  55. 55. 21.02.2015 Dr. Ute Hillmer www.better-reality.com “NewProductIntroductionDiagram” The model is a good fit for an exiting company where customers are known, the product features can be spect‘ed upfront, the market is well defined and competition is understood! Illustration copyright of Steve Blank, „The Startup Owners Manual“
  56. 56. 21.02.2015 Dr. Ute Hillmer www.better-reality.com CustomerDiscovery
  57. 57. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Customer Development • Customer Development Customer Problem: known Product Features: known Illustration copyright of Steve Blank, „The Startup Owners Manual“ Illustration copyright of Steve Blank, „The Startup Owners Manual“
  58. 58. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Oneofthe largestfailureson record • Founded in 1991 by Motorola and a global partnership of 18 companies • Planned to built a mobile phone system that would work anywhere on earth • Purchased 15 rockets from Russia, U.S. and China, 72 private satellites were launched into orbit • 7 Years after launch, the infrastructure was in place; 9 Month after first call was made, the company was bankrupt.
  59. 59. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Anewareain productsand channels Physical products through physical channels Virtual products through physical channels Illustration copyright of Steve Blank, „The Startup Owners Manual“
  60. 60. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Talkingto People 3 Phases • Pre-planning • Interviews and other discoveries • Analysis and Insight Cartoon copyright of Giff Constable, „Talking to Humans“
  61. 61. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Talkingto People2 Preparation: develop a question GUIDELINE Q1: What do you want to learn?
  62. 62. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Talkingto peopleandmake sure • Do it yourself, don’t use an agency • One person at a time • Add a note taker if possible • Start with a warm-up question and keep it human • Avoid confirmation bias by hearing what you want to hear (you can play a game with yourself) • The story mode: “Imagine you are filming the documentary of your life. At this moment, what were you doing, saying, what is the emotion?” • Are there solution hacks? Ways the customer tried to solve the problem?
  63. 63. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Moreto developa questionguideline • Ask open questions • Talk little and get the other person sharing openly • Set goals for key questions and track results We hope that 85% of all date app users are interested in getting to know new people, unrelated to any romantic outcome. • Observing uninfluenced behavior upfront, can lead to great insight and will help you find the right questions. • Parrot back or misrepresent to confirm • Do a dry run
  64. 64. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Developa questionguideline Get Stories, not Speculation! • Watch out for speculations (Would you buy this product? How much would you be willing to pay? …) …humans are very bad in predicting their future behavior! • Instead, ask your interview partner to share a story about the past! • How did you arrange + meet up for team sports in the past? • How exactly did you do it? • What worked well? Why do you think this worked? What was really good about it? What was the most fun about it? … • What would you like so see improved? What frustrated you most? If you could do it all over again, what one thing would you change? • What were the overall “cost” to you (time, money, nerves, …) – watch out for the words used! • What were the overall “gains” to you (fun, outcome, …) - …the words used! • What was the most important reason you bought XX at the time? • …
  65. 65. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Evenmore to developa questionguideline The MagicWand • No Magic Wand Questions: “If you had a magic wand that makes this product do whatever you want, what would it do?” • If anything, ask: “If this product were to solve one problem, what would you want it to solve?” It’s the customers job to explain their behavior, goals and challenges. It is the product designer's job to come up with the best solution.
  66. 66. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Moreto developa questionguideline Testing for price: the hardest questions to get answered by qualitative questions are – „Will people pay?“ – „How much will people pay?“ because answers to these Q‘s are extremely suspect.
  67. 67. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Findyourinterviewsubjects • Try to get one degree separation away • Be creative and don’t expect people to come to you – Where are they waiting and bored? (in line; moms on soccer tournaments, …) – Where are they in in their moments of pain? – Referrals? – Conferences, trade-shows, meet-ups? – Social Media Groups? – What do they enjoy? (pay a café, a manicure, ....) If something does not work, try something new!
  68. 68. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Moreaboutenterpriseinterviewsubjects • Conferences, trade-shows • Xing, LinkedIn, - know the title of your prospects • Start in the middle – move up with more experience and knowledge • Ask for advice in a relevant chat • Decide if you want to ask for advice or if you want to sell • People are willing to grant time to friendly people, more so, if they are students or researchers If something does not work, try something new!
  69. 69. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Exercise:Youhave 4minutes withyourCEO/your Investor toconvincehim/her to fundthe newapp • Research + test your most critical assumptions you are making for the success of your app (morning exercise) • You can use secondary research available online and parts from statista at http://bit.ly/1vvVZAX • Use your Google Research results for the right questions and the right terminology • You MUST go and do interviews (3 would be a good amount) • Present in 4 Minutes, why your app must be funded. You can share what you did, what you learned, what your conclusions are, what your next steps will be. Convince for future funding! • 2 Minute Feedback; I love….; I wish …; I share a thought….
  70. 70. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Q5:How doyoumake senseof whatyoulearn? • It’s not about scientific significance, its about pattern detection • To find patterns, you need to track the data • Good working method: – everyone writes down as many patterns and observations as they saw on post- its in 10 minutes. – Put them all on a wall and sort them – Discuss the patterns as a team and re-view your assumptions, your b-plan and product plan. • Don’t take one persons comment to literally: look for patterns and apply judgment! In real life, talking to 50-100 people is a good amount. • You are an intelligent filter, not an order taker • People want to be helpful and nice; you want to hear nice things – keep that in mind Illustration copyright of Steve Blank, „The Startup Owners Manual“
  71. 71. 21.02.2015 Dr. Ute Hillmer www.better-reality.com LeanExperimentingyourwayup • Only talking to people is not enough; building a live product is expensive and time consuming. Built your way up, itterating to the RIGHT product that meets a customer need and that sells. Source: Chart by Gliff Contable, Talking to Humans
  72. 72. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Q5:How doyoumake senseof whatyoulearn? Verify your learnings by testing and re-testing our “product”: Conversations Mock-up Prototype Live Product Put it in front of custemers and watch and listen to their reactions. customers and get their feedback. Illustration copyright of Steve Blank, „The Startup Owners Manual“
  73. 73. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Makingmoresense ofwhatyoulearnbyputting peoplethroughthe actal experience • Built a Minimum Viable Product (MVP) that offers the value your customers value most and get feedback • Built a landing page test that offers the MVP or tests some wording and run the analytics of who - is interested to read more - asks for material by entering an address - clicks the “buy now” button Illustration copyright of Steve Blank, „The Startup Owners Manual“
  74. 74. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Readyformore? • The Lean Star-up, Eric Ries • The Startup owner Manual, Steve Blank • Business Model Canvas, Osterwalder • Giff Constable, Talking to Humans • The Lean UX,
  75. 75. 21.02.2015 Dr. Ute Hillmer www.better-reality.com
  76. 76. 21.02.2015 Dr. Ute Hillmer www.better-reality.com Dankeschön!

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