Reaching and Measuring! Nikos Palavitsinis, Agro-Know 500. Channels & Metrics

Lean AKademy, Feb-Mar, Reviewing our Interview Results Report on your interview results so far 10’ for each team to briefly report on their findings Practical problems? How were your interviewees? Document their characteristics

Lean AKademy, Feb-Mar, Report of Interview Results We put the LC on the wall again Product Risk – What are you solving? Market Risk – Existing Alternatives Customer Risk – Is this a viable customer segment?

Lean AKademy, Feb-Mar, How Interviews Affect our LC This is the time to put the new input on the canvas Any other insights? – Channels? – Pricing? – Other details we need to put up there?

Lean AKademy, Feb-Mar, Using Channels How does the product get from the company to the customers? Physical channels – First companies, sales representatives Web & mobile channels – New technologies

Lean AKademy, Feb-Mar, Using Channels Product/ChannelBits/VirtualPhysical Bits/VirtualFacebook, Twitter, Google Insurance, stocks, software PhysicalShoes, books, consumer electronics Cars, food, utilities, etc.

Lean AKademy, Feb-Mar, 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)

Lean AKademy, Feb-Mar, 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

Lean AKademy, Feb-Mar, 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

Lean AKademy, Feb-Mar, 2014

506. 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

Lean AKademy, Feb-Mar, Vanity Metrics (not!) Retention – Repeated use/engagement with your product Revenue – Events that get you paid Referral – Customers refer your product to others

Lean AKademy, Feb-Mar, 2014 Dave McClure – Pirate Metrics

Lean AKademy, Feb-Mar, 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

Lean AKademy, Feb-Mar, 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?

Lean AKademy, Feb-Mar, 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…

Lean AKademy, Feb-Mar, 2014 Questions?