How to Integrate Customer Discovery
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This document provides an overview of customer discovery, a framework for validating a target market through customer needs. It discusses how most startups fail because they do not validate assumptions with customers before building products. The document then outlines steps to conduct customer discovery, including defining customer personas, illustrating pain points, designing market segmentation, building an interview pipeline, structuring interviews, and beginning to cultivate an acquisition strategy. The overall goal is to help startups build better businesses faster by learning directly from customers.
How to Integrate Customer Discovery
- 1. How to Integrate Customer Discovery
- 2. Acquired learning: 2010-2017 Product & Technology Strategy 2006-2009 Application Architect 2003-2005 Interactive Game & Application Developer 1998-2002 Design & Web Development Anthony Cintron Co-Founder, CEO Co-Founder at Take the Interview, Inc. Former Co-Founder, President & CTO at Resoomay, Inc.
- 3. is a market research platform designed for real startups. What does this mean to you? We help tech startups build better businesses, faster through the framework of customer development.
- 4. What is Customer Discovery? Customer Discovery is a framework for validating your target market with the most relevant solution based on your customers’ needs.
- 5. 133m startups each year Approximately 1.35%of them are tech related (1.78m worldwide) .05%reach the funding stage (90-100k tech startups) 50,000 of those startups receive funding in the US (from Angel Investors) ~4,000of them reach VC rounds (as of last January)
- 6. Most tech startups fail to validate their target consumer before developing their product. This leads to invalidated assumptions integrated into their product development, marketing and sales. 40% of startups fail within the first 12 months of conducting business 90% of startups fail within the first 5 years of conducting business
- 7. “Everyone has a plan until they get punched in the face” - Mike Tyson
- 8. How do I Start Customer Discovery?
- 9. • Define your persona and all attributes which defines your customer • Illustrate pain-points customers are experiencing from an alternative solution • Visualize thoughts and emotions when they are interacting with an alternative solution Design your market segmentation1
- 10. OpenStile.com Journey Mapping, July 2016
- 11. Searching your target buyer. Industry Advertising & Marketing Finance & Financial Services Food & Beverages Government Nonprofit Health Care & Pharmaceuticals Job Function Accounting/Auditing Business Development Health Care Provider Management Product Management Sales Sales B2B B2C Inside Sales Outside Sales Example: B2B prospecting strategy for approaching Health Care Providers within the Health Care & Pharmaceuticals industry.
- 12. Start building a pipeline of potential customers • Tap into your social media network • Ask people if they can introduce you to two additional people • Write a brief description of what you wish to accomplish from your customer interviews • Categorize your pipeline into segmentations 2
- 13. Manage your pipeline in a structure that can be easily maintained. Use the data to track, and build reports which relate to your leads.
- 14. Create goals and objectives • Create a short statement about the future of your business • Define 2-3 realistic objectives that describe steps you need to take to obtain your goal • Set up appropriate activity metrics • Hold yourself and your peers accountable 3
- 15. Track goals and measurable objectives. Evaluate your findings so you can make refinements to your development as you are progressing.
- 16. Structure your interview • Prepare 30 mins before your interview • Structure and standardize your questions • Interviews should only be 30-45 minutes • Record your interviews • Reach out to your customer 1-2 hours prior to confirm they are able to make the call 4
- 17. Questions should be open-ended No more than 6-8 questions (per segment) Group questions into high-level problems needing to be solved Avoid using AND/OR Tips on creating questions
- 18. Begin cultivating an acquisition strategy Before you feel confident in your acquisition strategy, you may need to run 2-3 Customer Discovery projects. Each Customer Discovery project should include 1-2 segmentations. Your customer interviews should be no less than 10 per segment project. 5 Customer Discovery Segment Segment Project
- 19. You may contact us at acintron@untangl.co Get your dose of inspiration from the Untangl team and partners. blog.untangl.co