Lecture 12: Customer Creation - Part II
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The document outlines a course (Duke ECE 490L) focused on launching new ventures in electrical and computer engineering, covering essential aspects such as customer discovery, demand creation, and market research. It includes exercises for feedback collection, developing customer case studies, and strategies for engaging early adopters. Examples are provided, such as Olark and Mint, to illustrate successful marketing techniques and the importance of brand recognition.
Lecture 12: Customer Creation - Part II
- 1. Duke ECE 490L: How to Start New Ventures in Electrical and Computer Engineering Poornima Vijayashanker poornima@femgineer.com Jeff Glass jeff.glass@duke.edu Akshay Raut ar118@duke.edu 1
- 2. Review • Customer Creation • Concierge MVP Duke ECE 490L 2
- 3. Review Session: Wednesday October 23, 2013 DUHatch Idea Summary Sign up for a session here! 3
- 4. Agenda • Feedback Collection • Customer Case Study • Demand Creation Activities • Exercise Duke ECE 490L 4
- 5. Market Research Customer Discovery Early Adopter Pricing Product Distribution Validation Customer Creation Business/Company Formation Mainstream Adopters Money for Marketing Duke ECE 490L 5
- 6. Customer Discovery Validation Customer Creation Business/Company Formation Early Adopter Pricing Product Distribution Duke ECE 490L 6
- 8. Identify prospects. Send out survey. Check # of responses. Who didn’t respond? Who did respond? Duke ECE 490L 8
- 9. Identify prospects. Send out survey. Check # of responses. Who didn’t respond? Who did respond? Duke ECE 490L 9
- 11. Drill down further. Duke ECE 490L 11
- 12. Ask for referrals! Duke ECE 490L 12
- 13. Keep track of case studies and testimonials. Duke ECE 490L 13
- 14. How to Do a Customer Case Study • Who are they? • Why did the pick you? • How did your product benefit them? Duke ECE 490L 14
- 15. Persona. Testimonial with name and picture. Full story. Duke ECE 490L 15
- 16. Multiple user segments? Showcase each. Duke ECE 490L 16
- 17. Stories of existing customers attract others just like them! Duke ECE 490L 17
- 18. Bake your brand recognition into your product. Duke ECE 490L 18
- 19. Case Study #1: Olark • Live chat • Widget on homepage of websites • Builds virality through frequent recognition Duke ECE 490L 19
- 20. Inbound interest comes from demand creation activities. Duke ECE 490L 20
- 21. Demand Creation • Market adoption v. Market share • Education Duke ECE 490L 21
- 22. Educate Each Group • Experts • Connectors • Earlyvangelists Duke ECE 490L 22
- 23. Techniques • Experts: need to understand the unique value proposition of your product. • Connectors: need to know most relevant connections, and a way to leverage their existing networks. • Earlyvangelists: make the message memorable for them to convey. Duke ECE 490L 23
- 24. Case Study #2: Mint • Experts: Suze Orman • Connectors: financial bloggers and badges. • Earlyvangelists: sharing infographics. Duke ECE 490L 24
- 25. What if you’re segments change? Duke ECE 490L 25
- 26. DESTROY EVERYTHING! Duke ECE 490L 26
- 27. Remember the definition of positioning? Duke ECE 490L 27
- 28. Image in the mind’s of prospects and customers. Duke ECE 490L 28
- 30. Review • Feedback Collection • Customer Case Study • Demand Creation Activities • Exercise Duke ECE 490L 30