[Lean 101] Channels & Metrics - Reaching and Measuring
Download as PPTX, PDF1 like337 views
The document discusses key considerations for startups regarding customer interviews, product channels, and performance metrics in the context of the Lean Startup methodology. It emphasizes the importance of understanding customer risks, channel types, and the differentiation between physical and virtual products while also outlining metrics for measuring product performance. Furthermore, it provides actionable takeaways for refining business models and preparing for future interviews to gather essential customer insights.
[Lean 101] Channels & Metrics - Reaching and Measuring
- 1. Reaching and Measuring! Nikos Palavitsinis, Agro-Know 500. Channels & Metrics
- 2. Lean AKademy, Mar-Apr, 2014 501. Report of Interview Results • We put the LC on the wall again • Practical problems? How were your interviewees? Document their characteristics • Product Risk – What are you solving? • Market Risk – Existing Alternatives • Customer Risk – Is this a viable customer segment?
- 3. Lean AKademy, Mar-Apr, 2014 502. How Interviews Affect our LC • This is the time to put the new input on the canvas • Can we start thinking in terms of demo? • What can we produce as a solution too pitch in the next phase of our Lean AKademy?
- 4. Lean AKademy, Mar-Apr, 2014 503. Using Channels • How does the product get from the company to the customers? • Physical channels – First companies, sales representatives • Web & mobile channels – New technologies
- 5. Lean AKademy, Mar-Apr, 2014 503. Using Channels Product/Channel Bits/Virtual Physical Bits/Virtual Facebook, Twitter, Google Insurance, stocks, software Physical Shoes, books, consumer electronics Cars, food, utilities, etc.
- 6. Lean AKademy, Mar-Apr, 2014 504. Identify your Channels • Is your product virtual or physical? • Will your channels be direct or indirect? • Web distribution – Dedicated e-commerce site – Platform, app-store (itunes) – 2-step distribution (amazon) – Aggregator (vertical market approach) – Social commerce (Facebook) – Flash sales (Groupon)
- 7. Lean AKademy, Mar-Apr, 2014 504. Identify your Channels • Don’t pick all of them… • Physical distribution – OEM (Intel, Nvidia) – System Integrator (devices + software) – Value-added reseller – Direct Sales Force – Web/online sales (telesales) – Distributors to dealers or retailers
- 8. Lean AKademy, Mar-Apr, 2014 504. Identify your Channels • Solution VS Marketing Complexity • Each channel can handle different levels of complexity selling the product • Each channel adds different value to the product as they promote it to the market • The higher value added, the higher the cost that comes for the seller
- 9. Lean AKademy, Mar-Apr, 2014
- 10. Lean AKademy, Mar-Apr, 2014 505. Vanity Metrics (not!) • Acquisition – The point where an unaware visitor turns into an interesting prospect • Activation – The point where the customer has the first gratifying experience
- 11. Lean AKademy, Mar-Apr, 2014 505. Vanity Metrics (not!) • Retention – Repeated use/engagement with your product • Revenue – Events that get you paid • Referral – Customers refer your product to others
- 12. Lean AKademy, Mar-Apr, 2014 Dave McClure – Pirate Metrics
- 13. Lean AKademy, Mar-Apr, 2014 506. Identify your Metrics • How are you going to measure the performance of your product? • Can we measure some metrics for this phase of product development? – X interviews – X problems identified – X solutions/alternatives identified
- 14. Lean AKademy, Mar-Apr, 2014 507. Takeaways & Assignments • Let’s spend some time to reflect on our work today • How did our LCs change? • Do we have a different outlook on our initial hypotheses?
- 15. Lean AKademy, Mar-Apr, 2014 507. Takeaways & Assignments • Refine your canvas some more… Look at the channels & metrics identified • Prepare new interview forms and reach out to new interviewees! • Conduct new interviews and prepare your input for the next time…
- 16. Lean AKademy, Mar-Apr, 2014 Questions?