13 0716 session 1 & 2 webinars-product & market fit

1,883 views
1,837 views

Published on

Published in: Business, Technology
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,883
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
38
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide
  • The result of many years’ worth of work, the 10-Step Curriculum is the key process, initially introduced at the Academy, which helps a company de-risk their technology.Progressive de-risking of company from concept to a venture that will achieve investment and/or sustainable revenueTraining materials, activities & workshops are integrated with these 10 steps Product-Market Fit helps each company ensure that they have identified the correct market for their product(s)/service(s) and are ready to make appropriate adjustments. 2) Technology Validation ensures that their product(s)/service(s) will credibly meet the requirements of investors and customers. 3) Business Model covers all key aspects of who and how and where money will be made, and how the product will be delivered. 4) Markets and Getting to Them covers the key, crucial steps needed to get a new product into the market (an enhanced version of ‘Go To Market Strategy’). 5) Finances & Funding focuses on producing credible financial projections. 6) Legal provides an introduction to intellectual property protection and the corporate structure required to minimize risk and provide the legal underpinnings for success (important steps often overlooked by entrepreneurs). 7) Execution and Team to Execute introduces the importance of building a strong, relevant team with the specific skills needed to hit the major milestones needed as the startup grows. 8) Sustainability introduces the importance of business practices that will improve the company’s profitability while reducing its environmental impact. 9) Presentation works on the content and skills for excellent investor/customer presentations. 10) Assessment & Review guides each entrepreneur through the importance of careful review, and provides the platform for review and refinement of the programs themselves.Physical and virtual business clinics are one-on-one sessions for each participating startup with experts from sectors such as law, marketing, design, manufacturing and finance.
  • Advise of the Copyright Notice.(Effective as of July 10, 2012 and applicable thereafter)
  • Today, we will speak mostly be spending time on the Customer View Stage and addressing concepts related to Value Creation and Innovation in context of Customers / Solutions, Value Propositions and Customer Validation .
  • Our agenda for today’s topics in this webinar focus on the following:- Customer segments for Cleantech Enterprises- Value propositions for enterprises Customer validation techniquesWe will take questions at the end of each section as well as the end of our meeting today.At the conclusion of the webinar, you should have a more solid understanding of these elements and how they fit onto Osterwalder and Pigneur’s (2010) Business Model Canvas.
  • We move on to Webinar no 2 from where we left off last week on Business Model Canvas. You shared with us what you liked about the Webinars and how we can make them more helpful. Today’s Webinar is on Front Stage i.e. Customer View with focus on Value Creation, Business Model Canvas and a deeper dive on Customer Discovery –Product Market Fit. The goal is to link the Webinar content as much as possible to the Worksheets that you are required to complete and Judging Criteria given that is your shorter term interest.
  • Identification, Assessment and Validation of Markets and Solutions- Innovation - Spin off, Evolutionary and Revolutionary Products / Markets.- Drive versus Driven in Markets – Thinking of Markets Differently- Create New versus Existing Industry – Products and ValueInnovation – Practices, Processes and Products to form Spinoff, Evolutionary and Revolutionary. Example….Optoelectronic and Diodes market, Existing Chips / New Packages or Vice Versa and New Platforms and Devices. Example….SMPS Market and HP Printer Market2)Drive versus Driven in Markets – First Mover Advantage versus competing solely on price and delivery. Example…….At Motorola Semiconductor, drove the conversion of existing diodes in ESD and Transient Voltage Supression Business which lead from competing on commodity parts to high margin and high growth markets. Example…….Rise of Wafer Foundaries and Subcontractor Back End Manufacturing companies in a highly capitalized industry such as semiconductor industry.3) Create New versus Existing Industry – Sell Solutions versus Devices – Example - Optoelectronics devices (LED’s) that sell for pennies to create a Smart Lighting Solutions that sell for dollars. Sell discrete LED’s and Detectors devices or sub assemblies to Automotive Industry / Industrial / Commercial Mood Lighting Market Example….Color Kinetics focusing on Smart Lighting and development Intellectual Property that lead them to sell out to Phillips Lighting.
  • The Canvas consists of nine building blocks, which are described from Right to Left (Front Stage and Back Stage) and then at the bottom Front Stage……..On the Right are four building blocks that form what can be called a customer view. These blocks include Customer Segments (CS), Value Propositions (VP), Customer Relationships (CR), and Channels (CH).On the Left are three building blocks that form what can be called the operations view. These blocks are Key Activities (KA), Key Resources (KR), and Key Partnerships (KP). At the bottom of the Canvas are two blocks that make up the economics view: Cost Structure (C$) and Revenue Streams (R$).The Canvas should be seen as a visual representation of the flow from suppliers to customers supported by economic elements. The organization of the elements is set up to be developed from right to left and then interpreted left to right. Like a painting it may not make sense until all elements are in place and the whole of the picture is seen through the interaction of the parts. In the following discussion we will look at each in more detail.Companies with Successful Business Models – Apple, Intel, Google and Power Assure (Smart Power Management - Dashboard)
  • Key Takeaways: 1) Many Cleantech Markets are existing and established- Your potential customers are already using a product that yours must replace or augment and you must test your product against existing alternative products.- You already have competitors servicing those customers and you must understand those competitors and their product features, their established sales channels and their demand creation strategy.2) Identifying target customer segments thru research, mapping supply and value chains, Observation and Yes, interviews are key.3) Customer Dollar Spends, Observations, interviews and line tours aare key to crafting a winning Value Proposition which must specifically describe the problems you solve better, more efficiently and effectively etc. than Companies X, Y and ZHere, we see Osterwalder and Pigneur’s Business Model Canvas (2010) showing the two segments we will discuss for the next 90 minutes: value propositions and customer segments.Customer Segments – Unique groups differentiated by:Industry Segment Sub Segment Application Functionality Size OtherTest Hypotheses with interviews in several segments:Product Value Proposition Hypothesis
 Customer Hypothesis
 
 Demand Creation Hypothesis
 Market Type Hypothesis
 Competition Hypothesis
  • Key to Customer Discovery is knowing what is the Customer Job are you being hired for, What are the Gains and Pains you are addressing. The Value Proposition is what you offer the customer. If you offer better value than one that is available you are likely to have a customer. Let several Customers tell you and watch the dollars and be open to pivoting .Examples:7AC Technologies from Solar and Residential focus to HVAC Water extraction for commercial customersAtomosphere Recovery Inc (ARC) – Laser Gas Analyzer with focus on Energy reduction to Process Improvement in Steel Mills (Sold 20-30 Systems within that Industry.Puralytics (2010 Winner) - Ultra Pure Industrial Water Treatment Systems using patented technology (5 Patents) for customers such as Semiconductor Fabs, Pharma plants etc to Solar Bag Water Purification system using photochemical process for Individual Consumers who desperately need for pure drinkable water. Customers in 45 countries in 18 months!Results……………. Laugh to the Bank value proposition!! Example……..Motorola ESD / Transient Voltage Suppression Device value proposition of new product family of Quad Arrays that replaced four discrete devices at lower cost, reduced board space and insertion cost, while limiting the no of vendors lead to a sole source position at HP Printer Division. The value creation as a result of one product in a business that I was the owner was $4.5M in Sales on one product the first year, $7M in Sales the second year and $17M in Sales the third year at gross margin in excess of 70%.
  • We’d like to open it up for any questions at this time. (Provide audience instructions on how to submit their questions to you either via the chat box or through a moderator. Read the question aloud and share your answer.)
  • Our first major topic is customer segments for Cleantech Enterprises.
  • While the examples from the previous slide developed innovations aimed at improving the environment, they still needed customers. How do you get them? The customer segments piece of Osterwalder and Pigneur’s Business Model Canvas (2010) reminds us that customers are the ones for whom we create value with our service or product. Customer segments “comprise the heart of any business model” because without profitable customers, no company will last long (Osterwalder & Pigneur, 2010, p. 20). For us to better understand and satisfy customers, it helps to group them into segments with common needs, behaviors, or other attributes. These segments include the following:- Those with needs that require and justify a distinct offer- Those reached via different distribution channels Those with differing relationship needs Those with substantially different profitability- Those willing to pay for different aspects of your offer for value
  • Key questions to ask in regard to customer segments are: For whom are we creating value? Who are our most important customers? Again, consider that customer segment categories are the following:Those with needs that require and justify a distinct offerThose reached via different supply feeds or distribution channelsThose with diverse relationship needsThose with substantially different profitability areasThose willing to pay for dissimilar aspects of your offer because of valueCustomer segments represent one of the most important building blocks, because knowing your customers is critical. If you as a business don’t know who you are trying to reach, developing the right methods to communicate with customers will prove virtually impossible. Customer segments allow a business to focus on determining the unmet needs. This might mean identifying markets that are underserved, allowing you to prioritize resources and build an effective business model. As we can see, an example from Puralytics, a prior Cleantech Open competitor, might have identified thirsty humans in underdeveloped social groups as one of their segments.
  • Let’s look at a quick example of how we might identify customer segments for a Cleantech enterprise.
  • Define: Describe potential customer groups based on criteria such as customer needs, distinct distribution channels,different types of relationships, or unique profitability levels (Osterwalder & Pigneur, 2010). Clarify: Using available industry and economic data, do a sanity check on the potential segment.Confirm: M.A.S.A.Example – AC-DC Switch Mode Power Supply Market
  • Let’s use a Cleantech success story to illustrate: “Puralytics, An Amazing New Technology for Purifying Water (www.puralytics.com)” and the 2010 Grand Prize Cleantech Open Winner from the Pacific Northwest Region, gaining $1.2 million in funding. Puralytics pioneered an entirely new photochemical technology for water purification. This was enabled by recent advances in semiconductors - efficient, high-power LEDs; optics - uniform, high-intensity illumination; and nanotechnology – cost-effective, fixed photocatalyst coating (Cleantech Open, 2010).
  • Using Puralytics, we could identify their customer segments as diversified. Diversified markets result when businesses develop completely different customers with unique needs and characteristics, and different segments with different needs all resolved by one company. Each of those customers has diverse needs, diverse pains and gains, all related to the job they are hiring Puralytics to do. Puralytics is serving customer markets from the developing world, to campers, to the military (Cleantech Open, 2010).
  • Define: Describe potential customer groups based on customer needs, distinct distribution channels,different types of relationships, or unique profitability levels (Osterwalder & Pigneur, 2010). Clarify: Using available industry and economic data, do a sanity check on the potential segments.Confirm: M.A.S.A. for the developing world customer segmentTo measure for the developing world, Puralytics might look at reports on the number of people in need in varying countries. To determine if the potential segment is accessible, Puralytics would need to verify they could sell their product by looking at available distribution channels.To determine if the potential revenue is sustainable, Puralytics would need to establish if there was ongoing funding for water purification by looking at grants or donor information sources. Puralytics would need to determine if they could acquire resources to manufacture and distribute the product to the developing world by looking at potential plants they could use to build and deliver the product within that segment.
  • Back to our initial questions: how can you find out what your customer segments are? How do you maximize the benefits your company offers in relation to their values and goals? We mustask peers in the industry, do independent research, survey the potential market we think we will serve, and analyze existing government reports.
  • We’d like to open it up for any questions at this time. (Provide audience instructions on how to submit their questions to you either via the chat box or through a moderator. Read the question aloud and share your answer.)
  • Now that we have discussed customer markets and how they can be segmented, let’s move into value propositions.
  • Are value propositions segment specific? Are they competitive? If so, what is the basis of competition? Do your customers have buying criteria in the addressable market segments you’ve identified? If they do, this could be your competitive advantage in those segments.
  • A value proposition is what a company can do for its customers; literally what they offer that another company cannot. The value proposition may be in the form of a new or innovative product for consumers or an improvement upon an existing product, such as added features (Osterwalder & Pigneur, 2010, p. 22-23).As a central piece of any business model, value propositions invoke the worth of your product, service, or technology for specific customer segments. A customer may ultimately choose one company over another based upon its ability to satisfy their need for an isolated worth. Value propositions are a collection of “pro’s” that can sway the customer in a certain direction (Osterwalder & Pigneur, 2010. p. 22-23).
  • Value propositions represent another crucial building block in the foundation of your business model. Value propositions guide our choices, everything from revenue streams and key resources to key partnerships (Osterwalder & Pigneur, 2010). However, value propositions are also the most difficult components to effectively establish. You should be asking, “What need does my product, service, or technology meet for customers?”“Is this need being met similarly in the market already?”“For each of my value propositions, what are products, services, or technologies target my customer segments?”“How do they create gains or relieve pains?” (Osterwalder & Pigneur, 2010). Puralytics developed an affordable, long-lasting product that cleans water virtually anyone can use. These are all gains for the customer and a relief if you did not have access to clean water prior to purchasing the product.
  • As you are likely aware, there are many elements of value propositions to consider. For example, remember when cell phones used to be a new product? Now, personal computers and laptops have significantly improved performance, even from brand to brand. The fashion industry is constantly bettering design and contributing to brand recognition. The introduction of the newest lines can reflect status. Cheap, no-frills airlines offer price value for customers. Warranties provide risk reduction for consumers. And Apple®’s line of iProducts are synonymous with convenience and usability (Osterwalder & Pigneur, 2010, p. 23-25).
  • Originality and innovation lead to the development of great products that can literally transform societies. Let’s go back to cell phones for a minute. Cellular technology transformed our society by enabling mobile telecommunications. A whole new industry was born and continues to thrive today. Cleantech Open 2010 competitor Puralytics developed a unique water purification device that can be used in developing countries where inhabitants might otherwise die or become malnourished as a result of waterborne disease. Simply pouring water through the device and allowing it to sit in the sun for a few hours purifies the water for human consumption. Do you think this product transformed society?
  • But it’s also all about performance. Your product cannot transform society unless it performs its job and helps customers improve their performance. The personal computer industry has focused on improving performance by creating more powerful machines with faster computing speeds, more disk storage space, and better graphics. But these features have not always driven customer demand and improved sales. The solar power industry, for example, improves efficiency and reduces cost, creating a double win for customers but remains largely inaccessible to the public due to up-front investment costs.
  • Sometimes, a product or service is worthless to the customer unless it is tailored to meet their specific needs. What if you have special dietary needs and want to go out to eat? Such needs might include low salt for high blood pressure or gluten-free products for Celiac disease. A restaurant that cannot modify their cooking techniques or ingredients is of no value to you. Cleantech Open’s 2011 Energy Efficiency Winner from the Pacific Northwest Region with $1 million funded is Indow Windows, Comfort All Year (www.indowwindows.com). Indow Windows are thermal window inserts that press into the inside of your existing window frames to give you money-saving, double-pane window performance, at a fraction of the cost. Indow Windows boost year-round comfort by blocking hot summer blasts and cold winter drafts. As a bonus, Indow Windows reduce noise that comes through windows by 50%. Best of all, Indow Windows almost disappear when installed, letting your home's beauty shine through. (Cleantech Open, 2010) To purchase Indow Windows inserts, customers must record the measurements of their windows, which the company will then use to manufacture the inserts specifically for their home. Obviously, each home has a different number of differently sized windows, so without this customization, the product would provide no value.
  • Similarly, supplemental or supportive characteristics may be the key to providing customer value. Rolls Royce (Osterwalder & Pigneur, 2010) charges a fee to manufacture and service airline engines for their customers. The fee is based upon the number of hours the engine runs, so airlines only pay for running engines when they are flying their customers and Rolls Royce has built-in quality incentives. The airlines get to focus on what they do best, which is safely transport their customers to where they need to go. Another Cleantech Open 2010 competitor took the complexity out of calculating energy usage and understanding energy use patterns for building owners (Cleantech Open, 2010). The owners can focus on running their buildings and making them more efficient to reduce cost.
  • Superior design can make your products stand out. In the fashion industry, or even with everyday electronics, the importance of product design cannot be overstated. Designs determine how clothes look, feel, and function. With electronics, designs need to be user-friendly to be considered effective. In other words, performance alone does not necessarily determine success when it comes to design. We must account for customer needs in this important area. A Cleantech example could be energy derived from renewable resources. This technology needs to incorporate an attractive design and be easy to install, beyond the fact that they must function to provide solar energy home an businesses as well as be affordable (Cleantech Open, 2010).
  • We are creatures of habit. So when we think of a particular product or feature, you want us to think of your product! This is called branding. For example, what do you think of when I say “Quality wrist-worn time piece signifying wealthy status?” Your answers will all vary. You might say brands such as Rolex®, Cartier®, Bulgari®, Breitling®, or TAG Heuer®. A Cleantech example is the use of new batteries that allow a hybrid or electric car company, such as Tesla™, to enhance performance and range.
  • Are your customers price sensitive? This seems like an obvious question, but not always. Consider the watch example we just discussed. Sometimes a fee offer can help jump-start sales. Puralytics created a solar water purification device exemplary of a product that is not only affordable but can be used multiple times over a long period.
  • A great way to create value for the customer is to help them cut their costs. Salesforce.com©, for example, “sells a hosted Customer Relationship Management (CRM) application that relieves buyers from the expense and trouble of having to buy, install, and manage CRM software themselves” (Osterwalder & Pigneur, 2010, p. 24). A Cleantech example is Power Assure. Power Assure is a data center power and efficiency expert. The company provides large enterprises, government agencies, and managed service providers with the ability to monitor, manage, analyze and automate their data center with a variety of solutions.(Cleantech Open, 2008 Winner and then in 2011 Alumni Winner).
  • “Customers value reducing the risk they incur when purchasing products or services” (Osterwalder & Pigneur, 2010, p. 24). How can you help your customers do this? A 1-year warranty on a used car implies that there is less chance of a breakdown, and reduces repair cost risks if a breakdown does occur. This makes the customer feel more confident about the purchase. The Cleantech Open 2010 finalist with $2 million funded, EarthClean Corporation (www.earthclean.com), invented product technology that changes water into an independently verified biodegradable, non-toxic gel applied to live fire using standard fire-fighting equipment. As it is pumped, the product transforms into free-flowing liquid, then reverts to a fire suppressant. So this water enhancer transforms water into a gel that adheres to surfaces and can be pumped through standard fire equipment (Cleantech Open, 2010). Once applied and exposed to heat, EarthClean’s patented technology then converts to steam instead of smoke (Cleantech Open, 2010). The product is certified non-toxic and "biodegradable ready", the highest level possible, by an accredited, independent research lab (Cleantech Open, 2010). Clearly this technology mitigates risk to firefighters, homeowners, and the environment.
  • Creating accessibility for customers previously lacking it is another way to create value. NetJets® created a method for its customers to gain access to private jets by owning a portion of one. A Cleantech Open 2010 competitor in the energy category created an easy to install and modular priced solar energy product (Cleantech Open, 2010). The company also made it so additional units can be purchased as customers accumulate savings. These techniques improve accessibility to a renewable energy source for the company’s customers.
  • Products that are convenient and easy to use create substantial value. Apple®’s line of iProducts made iTunes® software and hand-held iPod® devices easy to use and convenient. Customers could easily search, buy, download, and listen to digital music - no more CD towers needed! Let’s look again to Puralytics, who created the water purification device, which is about as easy as it can get. One simply pours water into the product, then lets it sit (Cleantech Open, 2010).
  • We’d like to open it up for any questions at this time. (Provide audience instructions on how to submit their questions to you either via the chat box or through a moderator. Read the question aloud and share your answer.)
  • Now to the last topic of this webinar, customer validation.
  • Osterwalder’s Customer-Value Map allows you to map out and analyze how the value proposition you designed fits the customer segment’s job and the customer’s pains and gains.
  • While the right-hand side of the Customer-Value Map, also known as the customer side, is something you observe in the market, or a study of the customer, the left-hand side, also known as the value side, is something you design, or how you make choices.
  • We are now going to use a more stylized view of the Customer Value Map and look at Puralytics, a 2010 Grand Prize Winner from the Pacific Northwest Region with $1.2 million funded. As discussed before, Puralytics serves different customer segments. This analysis will show how to use Osterwalder’s Customer Value Map on the developing customer segment of users. This group is looking for clean water and an easy-to-use water filtration, purification system.
  • The analysis starts first with looking at the job to be done, a concept made popular by Harvard professor Clayton Christensen. University of Phoenix has worked with Professor Christensen on the concept of defining customer needs by looking at the jobs to be done by a product or service. In the case of Puralytics, there are two different jobs to be done in the developing world. The first is purifying water at the point of use. This job recognizes that many living in the developing world do not have indoor plumbing and must get water from a central well or distribution point. The second job to be done is water purification for those homes in the developing world that do have indoor plumbing. In those cases, the water flowing out of the pipes is often fouled and loaded with impurities and pathogens.
  • The next part of the analysis in the Customer Value Map is to look at gains and pains that the customer segments have. Both the point-of-use customers and customers with indoor plumbing are looking for the same thing: abundant clean water and reducing time to get clean water. The pains are also the same: foul water and pathogens in the water.
  • As we move from the observation side of the Customer Value Map to the left side, we start to focus on solutions for the customer gains and pains. In the case of Puralytics, customers in the developing world, key gain creators are having a simple filtering system and being able to use that system in either a remote place or for a particular home. Pain relievers, or how to remove problems, include lowering disease and the risk of sickness by having clean water and having solutions that are low cost and simple to maintain.
  • The last part of the analysis relates to the products Puralytics can bring to the market. In the case of the developing world, there are two solutions. For remote users without indoor plumbing, there is the solar bag purification kit. For those with plumbing, there is an in-line or point-of-entry solution called the Shield purifier that uses LED technology to purify water.
  • On this slide, we can see the entire picture of how Puralytics’ developing world solution moves from the jobs to be done to products and services. In the case of Cleantech companies, you can perform a similar analysis. Look first to the jobs-to-be-done that your customers need or want. The video of Clayton Christensen on the University of Phoenix website is a great place to start this analysis. From there, look at the gains and pains your customers can expect from a product or service. Then you are ready to start designing solutions though analyzing gain creators and pain relievers. Finally, see if your solutions match up. If not, you may want to change your products or services though a pivot of your business model.
  • We’d like to open it up for questions at this time. (Provide audience instructions on how to submit their questions to you either via the chat box or through a moderator. Read the question aloud and share your answer.)
  • Technology can help with the analysis. There are several tools available through Osterwalder’s blog at www.businessmeodelalchemist.com, such as a web app for iProducts called Strategyzer, and software from Lean Launch Lab. Check with those individual websites for compatibility and prices.Clayton Christensen’s video is also available on the University of Phoenix website. (Presenter, copy and paste link into chat box for participants to access: https://www.phoenix.edu/lectures/clayton-christensen/milkshakes-understanding-the-job.html)
  • In conclusion, today, we identified that there are several customer markets for each Cleantech category. Your company may only be targeting one market. Knowing which market is important so you can effectively communicate with your customers. We also talked about value propositions and 11 related elements to consider. Your business may involve more than one element that could potentially serve as your competitive advantage. Finally, we walked through the Customer-Value Map (Osterwalder, 2012) and familiarized ourselves with envisioning, arranging, and fitting our product ideas with what our customers need and want.
  • This concludes the Cleantech Open Customer Discovery – Product / Market Fit Webinar.
  • 13 0716 session 1 & 2 webinars-product & market fit

    1. 1. Cleantech Open 2013 Webinar Series Tuesday, July 16, 2013
    2. 2. 2 Cleantech Open Confidential Information – All Rights Reserved Welcome to the National Webinar Series • With the Cleantech Open since 2007 • Mentor Chair 2007 - 2008 • Executive Director 2008 - present MC: Rex Northen, Executive Director, Cleantech Open
    3. 3. 3 Cleantech Open Confidential Information – All Rights Reserved Global Partner
    4. 4. 4 Cleantech Open Confidential Information – All Rights Reserved National Sponsors
    5. 5. 5 Cleantech Open Confidential Information – All Rights Reserved Thank You To All Our Sponsors!
    6. 6. 6 Cleantech Open Confidential Information – All Rights Reserved The Summer Program – July – September 2013 Date Time (PDT) Session I – Worksheets Time (PDT) Special Topic Sessions 7/9 1:30 to 2:30pm Business Model Canvas (Review) 2:45 to 4:00pm LaunchPad Central (Review) 7/16 1:30 to 2:30pm Product/Market Fit 2:45 to 4:00pm Systems Review, PR 101 7/23 1:30 to 2:30pm Markets and Getting to Them 2:45 to 4:00pm Term Sheets 7/30 1:30 to 2:30pm Product/Technology Validation 2:45 to 4:00pm Alternative Sources of Funding - Grant Writing / Crowd Sourcing 8/6 1:30 to 2:30pm Financials Analysis & Planning 2:45 to 4:00pm IP Licensing from 3rd Parties 8/13 1:30 to 2:30pm Legal Environment, Issues and Risks 2:45 to 4:00pm Cap Tables 8/20 1:30 to 2:30pm Management Team 2:45 to 4:00pm Working with the Utilities 8/27 1:30 to 2:30pm Sustainability 2:45 to 4:00pm Tell Your Story, Sell Your Story (Communicating value to stake holders) (9/11) 1:30 to 2:30pm Investor Presentation Mentor Assessment 2:45 to 4:00pm Mock Judging, Regional Awards, Global Forum
    7. 7. 7 Cleantech Open Confidential Information – All Rights Reserved Session 1: Product/Market Fit (Customer Validation) 1:30pm – 2:30pm, PDT • 30 year technology industry veteran, having run global businesses based in USA and Asia • With University of Phoenix for 30 years • Currently a practitioner Lead Faculty for Strategy in the School of Business Speaker: Niraj Kohli President, CSC
    8. 8. University of Phoenix webinars include content from businessmodelgeneration.com and from Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers [ISBN: 978-0-470-87641-1] by Alexander Osterwalder and Yves Pigneur, (hereafter referred to as the “Work”). Copyright © 2010 by Alexander Osterwalder and Yves Pigneur. All rights reserved. Used by arrangement with John Wiley & Sons, Inc. Unless John Wiley and Sons, Inc.’s (“Publisher”) express prior written permission is obtained, it is prohibited to (a) remove or alter the author’s name, Publisher’s copyright notices, or other means of identification or disclaimers as they appear in the Work; (b) make electronic copies of the Work other than as permitted pursuant to Section 1.1 of Agreement between Publisher and Apollo Group, Inc. “(Apollo”); (c) mount or distribute any part of the Work on any electronic network (including without limitation, the Internet and the World Wide Web) other than the Sites; (d) use all or any part of the Work for the purposes of monetary reward by means of sale, resale, loan, transfer, hire, or other form of distribution of the Work; (e) distribute the whole or any part of the Work to anyone other than Authorized Registrants (as defined in the Agreement between Publisher and Apollo; (f) publish, distribute, or make available the Work, works based on the Work or which combine it with any other material, other than on the Sites as expressly permitted in this Agreement between Publisher and Apollo. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit
    9. 9. This webinar is a 60-minute meeting presented as part of the Cleantech Open and focuses specifically on the concepts of Value Creation in context of Customer Discovery and Product / Market Fit.
    10. 10. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Agenda o Value Creation through Innovation  10 minutes o Segments / Customers for Cleantech enterprises  10 minutes o Value Propositions for Cleantech enterprises  15 minutes o Customer Validation  15 minutes o Conclusion and Questions  10 minutes
    11. 11. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Customer Discovery, Product / Market Fit Worksheet and Judging Criteria Worksheets • Interview Customers in Most Likely Segment o Interviewing Techniques • Nail a Value Proposition for that Segment o Addressable Pain? o The Solution? Why it‘s Better • Pivot to Another Segment? • Pivot to Different Feature Set? • Identify All Components of the Canvas Judging Criteria • How well substantiated by customer interviews is the target product/market? • How well does the team understand the initial buyers and their buying criteria?
    12. 12. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Value Creation through Customer Discovery, Product / Market Fit? Focus on Innovation!
    13. 13. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit (VP) VALUE PROPOSITIONS (CH) CHANNELS (CR) CUSTOMER RELATIONSHIPS (CS) CUSTOMER SEGMENTS (R$) REVENUE STREAMS(C$) COST STRUCTURE (KP) KEY PARTNERSHIPS (KR) KEY RESOURCES (KA) KEY ACTIVITIES Customer view – Front StageOperations view- Back Stage Economics view – Business Performance Stage businessmodelgeneration.com
    14. 14. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Value Propositions Customer Segments
    15. 15. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Customer Discovery – Product / Market Fit Value Propositions and Pivoting? 7AC Technologies A Revolutionary HVAC Company
    16. 16. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Questions?
    17. 17. Segments / Customers for Cleantech Enterprises
    18. 18. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Customer Segments For whom are we creating value? Who are our most important customers?
    19. 19. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit The two most important questions related to Segments / customers: o For whom are you creating value? o Who are your most important customers? www.businessmodelgeneration.com Thirsty humans, unde r-developed social groups
    20. 20. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Here’s the situation: You have a clean technology, product, or service but do not know who will buy it. Here’s the goal: Start with a large group of potential customers, and find a common interest, need, or characteristic that links a group together that can be reached and served by the Cleantech enterprise.
    21. 21. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Try this approach: 1. Define 2. Clarify 3. Confirm o Measurable  Are there ways to determine the size and value of the potential segment? o Accessible  Will you be able to reach the potential segment? o Sustainable  Does the segment offer lasting revenue potential? o Actionable  Do you have or can you acquire the necessary resources to serve the segment?
    22. 22. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Cleantech Example o Puralytics, An Amazing New Technology for Purifying Water!
    23. 23. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Cleantech Open Example o Puralytics  Diversified markets . www.businessmodelgeneration.com Military Campers Developing world
    24. 24. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Puralytics: 1. Define: developing world, campers, military 2. Clarify: How large are the groups that require clean water? 3. Confirm o Measurable  Are there ways to determine the size and value of the potential segment? o Accessible  Will you be able to reach the potential segment? o Sustainable  Does the segment offer lasting revenue potential? o Actionable  Do you have or can you acquire the necessary resources to serve the segment?
    25. 25. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit What are your customer segments? What are their values and goals?  Observe, Ask and Check existing Spend Rate  Ask in-person contacts, active in the industry  Check brochures or web pages, as well as public library research  Conduct surveys  Government reports .
    26. 26. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Questions?
    27. 27. Value Propositions for Cleantech Enterprises
    28. 28. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Value Propositions What value do we deliver for our customers? Which of our customers’ problems are we helping to solve? Which customer needs are we satisfying?
    29. 29. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit A value proposition is what a company can do for its customers; literally what they offer that another company cannot. The value proposition may be in the form of a new or innovative product for consumers or an improvement upon an existing product, such as added features. – adapted from Osterwalder & Pigneur’s Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, 2010, p. 22-23
    30. 30. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Value Propositions The three most important questions: o Which of your customers’ problems do you solve? o What value do you deliver for your customers? o Which of your customers’ needs is satisfied? www.businessmodelgeneration.com Cheap product, clea n water, long lasting, easy to use
    31. 31. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Elements of value propositions o Originality and innovation o Performance o Modification or made to order o Supplemental or supportive characteristics o Intention and design oBrand and ranking o Value o Decrease in fee o Mitigation of risk o Ease of access o User-friendliness - Osterwalder & Pigneur, Business Model Generation, 2010, p. 23-25
    32. 32. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Originality and Innovation o Develop great products that can sometimes transform societies o Example: Cellular phones  Enabled mobile telecommunications  Created a whole new industry  Challenging effects to address, such as driving safety o Cleantech Success Story: Puralytics  Water purification product treats disease causing organisms, pesticides, and heavy metals  Clean water to drink can be lifesaving in the developing world  Could be a foundation for economic growth
    33. 33. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Performance o Product performs its job, so customers can improve their performance o Example: personal computers  More powerful machines with faster computing speeds  More disk storage, better graphics o Cleantech example  Solar, wind, or water power systems • Improves efficiency • Reduces cost
    34. 34. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Modification and made to order o Some products must be tailored to have any value at all o Example: special dietary needs at a restaurant  Low salt for high blood pressure  Gluten-free foods becoming more popular  No value to the customer if ingredients or cooking cannot accommodate their needs o Cleantech example: Indow Windows  Window inserts company – Customers send in their measurements – Inserts manufactured specifically for the household  One-size fits-all would provide no customer value
    35. 35. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Supplemental or supportive characteristics o Allow the customer to focus on what they do best o Example: Rolls Royce Airline Engines  Customers pay Rolls Royce for every hour the engines run.  Rolls Royce manufactures and services the engines.  Customers can focus on running their airlines – what they do best. o Cleantech example  Energy usage management technology – Customers do not need to worry about undertaking complicated analysis. – Building owners can focus on running their buildings while also making them more efficient to cut costs.
    36. 36. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Intention and design o Sometimes performance alone does not necessarily determine success. o Examples: Fashion industry and electronics  Fashion design determines how clothing looks, feels, and functions.  Electronics designs need to be user-friendly. o Cleantech example  Energy derived from renewable resources – Provide home energy while being affordable. – Design must be attractive, affordable, and easy to install.
    37. 37. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Branding and Brand Status o When people think of a product or feature, you want them to think of you! o Example: What do you think of when I say…  “Quality wrist-worn time piece signifying wealthy status” o A Cleantech example  Hybrid or electric car batteries – Extends range and performance
    38. 38. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Value pricing o Low market price or free offers can help jump-start sales o Example: EasyJet™  No-frills airline  Created an entirely new and successful business model o Cleantech example: Puralytics  Water purification device – A product that can be re-used multiple times – Low retail price-point makes it affordable
    39. 39. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Decrease in fee o Create value for your customers by helping them cut their costs o Example: Salesforce.com©  Hosts customer relationship management applications  Saves customers from having to buy, install, and manage such applications on their own o Cleantech example – Power Assure  A software solutions providing Intelligent Energy Management Solutions  Power Assure is a data center power and efficiency expert. Offers ability to monitor, manage, analyze and automate the data center.
    40. 40. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Mitigation of risk o How can you help customers reduce risk associated with purchases? o Example: warranties  One-year warranty on a used car  Reduce risk of breakdowns and repair costs  Service level guarantees are another mechanism o Cleantech example: EarthClean Corporation  A biodegradable, water enhancement technology used in firefighting helps contain blazes and suppression restarting  Risk reduction is published via an obtained patent and certified testing
    41. 41. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Ease of access o Creating access = creating value o Example: NetJets®  Can’t afford a private jet? What about owning a fraction of a jet?  NetJets® created a business model where individuals and corporations can access private jets o Cleantech Example  Affordable, accessible energy derived from renewable resources  Lowered price point, designed for ease of installation
    42. 42. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit User-friendliness o Convenience and easy use provide substantial value o Example: Apple® iProducts  Made it easy for customers to search, buy, download, and listen to digital music o Cleantech example: Puralytics  Water purification device – Pour water into device, let device sit in sun – What could be easier?
    43. 43. Cleantech Open Webinar by University of Phoenix Questions?
    44. 44. Customer Validation
    45. 45. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Validating customer segments and value propositions using the Customer-Value Map by Alex Osterwalder (2013) www.businessmodelalchemist.com
    46. 46. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Two sides of the equation: www.businessmodelalchemist.com
    47. 47. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit PAINS GAINS JOB-TO-BE-DONE (VP) VALUE PROPOSITION PRODUCTS & SERVICES PAIN RELIEVERS (CS) CUSTOMER SEGMENTS GAIN CREATORS FIT Developing world clean water, easy to use www.busnessmodelalchemist.com
    48. 48. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit PAINS GAINS JOB-TO-BE-DONE (VP) VALUE PROPOSITION PRODUCTS & SERVICES PAIN RELIEVERS (CS) CUSTOMER SEGMENTS GAIN CREATORS FIT Point of use water purification Point of entry water purification Developing world clean water, easy to use www.busnessmodelalchemist.com
    49. 49. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit PAINS GAINS JOB-TO-BE-DONE (VP) VALUE PROPOSITION PRODUCTS & SERVICES PAIN RELIEVERS (CS) CUSTOMER SEGMENTS GAIN CREATORS FIT Point of use water purification Point of entry water purification Developing world clean water, easy to use Abundant clean water Less time to get clean water Pathogens in water Foul tasting water   www.businessmodelalchemist.com
    50. 50. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit PAINS GAINS JOB-TO-BE-DONE (VP) VALUE PROPOSITION PRODUCTS & SERVICES PAIN RELIEVERS (CS) CUSTOMER SEGMENTS GAIN CREATORS FIT Point of use water purification Point of entry water purification Developing world clean water, eas y to use Abundant clean water Less time to get clean water Pathogens in water Foul tasting water Simple filtering system Decentralized system Lower disease risk Low cost, simple maintenance www.busnessmodelalchemist.com
    51. 51. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit PAINS GAINS JOB-TO-BE-DONE (VP) VALUE PROPOSITION PRODUCTS & SERVICES PAIN RELIEVERS (CS) CUSTOMER SEGMENTS GAIN CREATORS FIT Point of use water purification Point of entry water purification Developing world clean water, easy to use Abundant clean water Less time to get clean water Pathogens in water Foul tasting water Simple filtering system Decentralized system Lower disease risk Low cost, simple maintenance Solar bag Shield (LED) Purifier www.busnessmodelalchemist.com
    52. 52. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit PAINS GAINS JOB-TO-BE-DONE (VP) VALUE PROPOSITION PRODUCTS & SERVICES PAIN RELIEVERS (CS) CUSTOMER SEGMENTS GAIN CREATORS FIT Point of use water purification Point of entry water purification Developing world clean water, easy to use Abundant clean water Less time to get clean water Pathogens in water Foul tasting water Simple filtering system Decentralized system Lower disease risk Low cost, simple maintenance Solar bag Shield (LED) Purifier www.busnessmodelalchemist.com
    53. 53. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Questions?
    54. 54. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Technology notes o Visit Alex Osterwalder’s blog at www.strategyzer.com (2013) o Clayton Christensen’s Milkshakes – Understanding the Job (2010) video available through the Phoenix Lecture Series on the University of Phoenix website: https://www.phoenix.edu/lectures/clayton-christensen/milkshakes- understanding-the-job.html
    55. 55. Cleantech Open Webinar 2 – Customer Discovery Product / Market Fit Conclusion: o Value Creation through Innovation is key oCustomer segments for Cleantech categories  Eight Segments, Sub Segments, Applications and Functional Solutions o Value propositions for Cleantech Enterprises  Elements of Innovative value propositions, values you are providing o Customer validation  Job to be done  Pains and gains  Products, services, and technology  Pain relievers and gain creators
    56. 56. This 60-minute webinar was presented as part of the Cleantech Open. Thank you for joining us today.
    57. 57. Session 1 Q&A
    58. 58. Accelerating Your Business Live and Breathe the Worksheets
    59. 59. 59 Cleantech Open Confidential Information – All Rights Reserved Worksheet Work – Week 7/16 - 7/23 • Are your Product/Market Fit Interviews & Business Model Canvas Complete? • What’s the Value Proposition? • What’s your first targeted Customer Segment? Size? Trends? • What’s the Second? Third? Total Market Size? • Address the other Business Model Questions • Address Markets & Getting To Them Questions
    60. 60. 60 Cleantech Open Confidential Information – All Rights Reserved Worksheet Work – Week 7/23 - 7/30 • Product/Market Fit – Customer Interviews – Pre-revenue and post initial revenues • Business Model Canvas – Green Bldg example – Competitors / Competitive Advantage / Why You? • Product Validation or Path to Same • Getting to Market – Identifying first $1m Market
    61. 61. 61 Cleantech Open Confidential Information – All Rights Reserved TEAM FOCUS FOR WEEK OF AUGUST 1 Prepare for Business Clinics Address Product/Technology Validation Worksheet (Wiki) Complete Product/Market Fit Worksheet (Wiki) Complete Business Model Canvas and Worksheet (Wiki) Complete Markets and Getting to Them Worksheet (Wiki) Begin (or continue) to develop Financials Worksheet (Wiki) Contact Your Mentor or Regional Mentor Chair With All Questions
    62. 62. Session 2 will start at 2:45pm PDT 3:45pm MDT, 4:45pm CDT, 5:45pm EDT
    63. 63. 63 Cleantech Open Confidential Information – All Rights Reserved Session 2: Systems and PR 101 2:45pm – 3:00pm, PDT – Systems questions (Wiki, Dashboard, Worksheets, Specialist Mentors, Business Clinics) 3:00pm – 4:00pm, PDT • Over 20 years’ experience across various industries and spectrums • Noted magazine contributor, with feature articles published in magazines such as Green Living AZ, Commercial Executive (real estate), AZ Health & Living, and others Speaker: Jeff Hecht Corporate Journalist and Senior Copywriter at Apollo Group
    64. 64. Create Your Public Relations Opportunities Brought to you by
    65. 65. • What is Public Relations? • Why engage in PR activities? • Planning and Implementing a Successful PR Campaign • The Tools of the Trade • Engaging with the Media • Websites & Blogs • Social Media • Case Studies In This Session:
    66. 66. 21 Year PR Professional Corporate Journalist & Copywriter – Apollo Group & University of Phoenix Owner & CEO of Jeff Hecht PR Former Director of Public Affairs for The Ellman Companies Former Director of Corporate Communications for Phoenix Coyotes Interests: Phoenix Coyotes Hockey Washington Redskins football Playing Guitar & Bass Social Media Connecting Who is Jeff Hecht?
    67. 67. What is Public Relations? “Public relations helps an organization and its publics adapt mutually to each other.” “Organization” is denoted in this context, as opposed to the more limiting “company” or “business,” to stress public relations’ use by businesses, trade unions, government agencies, voluntary associations, foundations, hospitals, schools, colleges, religious groups and other societal institutions. “Publics” recognizes the need to understand the attitudes and values of — and to develop effective relationships with — many different stakeholders, such as employees, members, customers, local communities, shareholders and other institutions, and with society at large. Source: www.PRSA.com
    68. 68. What is Public Relations? Wait, there’s more…
    69. 69. What is Public Relations? As a management function, public relations also encompasses the following: Anticipating, analyzing and interpreting public opinion, attitudes and issues that might impact, for good or ill, the operations and plans of the organization. Counseling management at all levels in the organization with regard to policy decisions, courses of action and communication, taking into account their public ramifications and the organization’s social or citizenship responsibilities. Researching, conducting and evaluating, on a continuing basis, programs of action and communication to achieve the informed public understanding necessary to the success of an organization’s aims. These may include marketing; financial; fund raising; employee, community or government relations; and other programs. Planning and implementing the organization’s efforts to influence or change public policy. Setting objectives, planning, budgeting, recruiting and training staff, developing facilities — in short, managing the resources needed to perform all of the above. Source: www.PRSA.com
    70. 70. What is Public Relations? Source: www.BusinessDictionary.com Systematic effort to create and maintain goodwill of an organization's various publics (customers, employees, investors, supplier s, etc.), usually through publicity and other non-paid forms of communication.
    71. 71. Earned Media, Paid Media, Owned Media Source: www.BusinessDictionary.com
    72. 72. Why Engage in PR? • Positioning your business & brand (new or existing brands) • Cost Effective • Control of message • Credibility • Business Development
    73. 73. Planning and Implementing a Successful PR Campaign What are you trying to achieve? What’s your budget? Who is the target? What is the best medium to communicate with your target? News Media? Direct Mail? Email? Social Media? How does this fit with other marketing activities? How do I measure the campaign’s success?
    74. 74. Your Plan Should Include • Goals of the PR campaign • Research and/or situation analysis • Budget for the campaign • Execution and/or action steps • Timeline for activities/events • Measurement activities & tools
    75. 75. The Tools of the PR Trade • The Pitch • The Press Release • The Media Advisory • Elevator Pitch • Media Interview (Talking Points & Key Messages) • Media Lists & Distribution • Media or Press Kit • Press Conference • Website • Blogs • Social Media
    76. 76. The Pitch • “The Misconception” – bigger is not always better • Targeting your media outlets • Do your homework – what do they cover? Who is the right reporter or editor? • Email/cover letter style • Basic, “to the point”
    77. 77. A Successful Pitch…
    78. 78. Writing a Press Release • Headers & Style • Pay attention to headlines & sub-heads • Inverse pyramid model • A “news story” about your organization • Write concisely, be direct • Quotes from credible sources to support and advance the storyline
    79. 79. Building Your Media List Building a targeted media contact list is an important step in releasing your news. When working on a limited budget, it‘s vital to allocate your resources in both staff time and money in the most effective way. The following steps will help you define the best reporters at the media outlets in your target regions and get your news to them in the most effective way. •Review your Communications Goals Review your communication plan. Getting "in the news" should not be an end goal. Who are the people you are trying to communicate with? Where do they get their information? Where do the people who influence your targets get information? Why are you using the media to reach them? •Review, Review, Review Distributing a message effectively to a target audience is a bit of magic, hard work and luck. Are you sure you need the media to get your message to your target audience? •Choose the reporters’ beat code(s) Who are the reporters that might cover your issue? Determine the issue areas covered by reporters you‘re trying to reach. Examples of beat codes are environment, energy, consumer issue and business. You may wish to include Assignment or News Editors and Bureau Chiefs if your issue is narrow or if you‘re sending to very small outlets that likely don‘t have a reporter that covers one beat code in particular. •Determine geographic scope of outreach. Is your target audience influenced by different types of media. Decide whether your outreach should go to reporters within a particular city, state, region or a national level. Source: www.greenmediatoolshed.com
    80. 80. •Identify the type of media outlet. Decide what type of media outlets the reporters should come from. Examples are daily or weekly newspapers, wire services, magazines, radio and television. •Refine your search by the circulation and frequency of the media outlets. Define the circulation of the outlets you‘re trying to reach. Should you try to reach publications that are daily, weekly or monthly? •Narrow your list of contacts. Don‘t be a newsroom pest. Check for duplicate records on your list. Reporters often hold multiple titles so they may be listed two or even three times. Send just one release or advisory to each contact. Also check for duplicate fax numbers. Don‘t waste your money by sending multiple releases or advisories to the same fax number. •Add personal contacts. You likely have good, personal relationships with reporters who don‘t fit your list criteria. You may want to add those reporters to your media contact list. •Determine your delivery method. Decide whether you want to send your news via fax or email or both based on the method preferred by the reporter. •Send out your news! Send out the news. Update your website with the news release and accompanying materials. Follow up to see if you can provide additional details or discuss the story with interested reporters. Track responses carefully so that you can target more effectively in the future. Update your database with any new information. Source: www.greenmediatoolshed.com Building Your Media List
    81. 81. Building Relationships with the Media • Call and introduce yourself • Engage on social media sites • Send correspondence without a pitch • Take them to lunch – but don’t pay! • Ask their “beat” – it‘ll help you target your pitch and provide relevant stories • “Don’t overdo it” • Build relationships so when you pitch, they‘ll know who you are and why they should listen • Be responsive in a timely and polite fashion – HELP THEM!
    82. 82. Four questions to ask when selecting a press release distribution vendor: First and foremost, you should question vendors about their coverage – in terms of both media and online channels - related to the specific business you‘re promoting. Things to ask potential newswire vendors include: 1.What web sites syndicate your content and will display my news? Pay attention to your industry niche, and ask the vendor to distinguish between people who receive content via RSS and the web sites that have actually agreed to syndicate (and display) content from the newswire. 2.How do you measure online distribution, and what type of reporting will I receive? Ask questions about what the numbers mean. Some numbers, like ―impressions,‖ describe potential audience, not actual views of the press release. 3.Which media do you reach, and how? Drill into how the vendor reaches the media that are of most importance to you. Don‘t forget niche industry media and bloggers! They are important sources of influence. 4.How do you measure media activity, and what type of reporting will I receive? It‘s always helpful to ask vendors what reporting they provide. Ideally, the reporting should match or describe the distribution you‘re purchasing. Source: www.prnewswire.com Using a Wire Service to Distribute Your Release
    83. 83. Web site traffic: Compare the web site traffic and search engine referrals each vendor‘s web site receives. These numbers will reveal which newswire have stronger web sites – which delivers more visibility for your message. Don‘t assume the larger, more well established wires are lacking in online exposure. In most cases, they actually provide more visibility and have stronger web sites than newer, web-only companies. Social media: Look at social media presence, and the social shares of press releases generated by the vendor . Editing & Search Engine Optimization: The degree to which press releases are edited before they are distributed also varies by provider. Some provide no editing; some just check spelling; others do a full edit, finding and fixing mistakes in press releases, and may even provide Search Engine Optimization (SEO) tips, too. Source: www.prnewswire.com Using a Wire Service to Distribute Your Release
    84. 84. TOP SUSTAINABILITY PUBLICATIONS • AOL Energy • CleanEdge • CleanTechnica • Energy Priorities • EnergyWire • Environment & Energy • Environmental Leader • Green Daily • Green Technology • Green Wombat • GreenBiz • GreenSet • Greenspace • Greentech Media • GreenWire • Renewable Energy World • Sustainable Business • Sustainable Industries • Sustainable Life • TreeHugger • TriplePundit • Xconomy
    85. 85. Things to Remember • Who is your audience? • Target selected media • Know media deadlines (when to release information) • Contact for follow up information & interviews • Keywords/optimization/hyperlinks
    86. 86. Media Advisories • Announces an event – Media advisories are typically used for informing the media of opportunities that are NOT for the general public • Announce a media exclusive event – a facility tour, press conference, etc. • Announce a photo or interview opportunity • Keep it to the basics: WHO, WHAT, WHEN, WHERE and WHY • Let the media know what photo or interview opportunities will be available to them at your event
    87. 87. Media Advisory Template…
    88. 88. Elevator Pitch Elevator Pitch Defined A slang term used to describe a brief speech that outlines an idea for a product, service or project. The name comes from the notion that the speech should be delivered in the short time period of an elevator ride, usually 20-60 seconds. In the financial world, the speech refers to an entrepreneur's attempt to convince a venture capitalist that a business idea is worth investing in. Venture capitalists use the quality of the elevator speech as a way to judge whether to continue with an idea. The elevator pitch is also used by project managers, salespeople and jobseekers as a way to market themselves or their ideas. An elevator pitch should include why your product, idea or project is worth investing in by explaining such things as the features, benefits and cost savings. Source: www.investopedia.com
    89. 89. Media Interviews • Prioritize your messages and make sure you present the most relevant or most important information first, then zero in on the details or finer points. • For print, make sure your information is quotable. Keep your talking points short and focused. • For electronic media (including radio and TV), stick to the 3-5 most important talking points as you‘ll likely only have 2-3 minutes to present your information. • If possible, try and provide interviewer with relevant talking points ahead of time, either in the press release or as bullet points to cover during the interview.
    90. 90. Positioning Your Business as an Expert Source • Soft sell • Industry recognition • Business or brand positioning • Independent confirmation of your expertise • Applies across all mediums, including print, radio, television, internet
    91. 91. Help A Reporter Out - HARO www.helpareporterout.net
    92. 92. Help A Reporter Out - HARO
    93. 93. Help A Reporter Out - HARO
    94. 94. Putting Together a Press Kit • Cover letter • Company fact sheet • Company background • Company executive bios • Bio headshots or other relevant photography • Press releases • Product samples • Testimonials or other 3rd party endorsements • FAQs • Contact information
    95. 95. Guest Columns, Op-Eds, Letters to the Editor • Opportunity to become published expert or source in your field or business space • Pick a format that suits you and your business – A position paper – A relevant list • Be timely • Be relevant • Encourage a call to action • Use a “ghost writer” • It’s an OPINION piece, so HAVE AN OPINION!
    96. 96. Special Events • Press Conferences – Keep a list of who attends – Format: Short presentation, group Q&A, 1-on-1 interviews – Treat entire event as ―On The Record‖ • Exposure events – Grand openings – Product launches – Site tours
    97. 97. Special Events – Things to Remember • PLAN PLAN PLAN!!! • Stick to a budget • Find an appropriate venue • Volunteers • Pick a date with no conflicts • Publicize
    98. 98. Websites vs Blogs Website Advantages • Great for selling products and/or services • Ability to set up blog within the site under same domain name • Full control of layout, design and website functionality • Full control of optimization of website for search engines • Easy to set up with free site builders like Blinkweb, Yola, Wix and others Blog Advantages • Flexibility to easily create content to update the site • Common blog platforms allow anyone to easily work within the site • Most blog platforms (like WordPress) have much more functionality • Google loves blogs! • Plugins (both free & paid) allow for easy customization or enhancement
    99. 99. Websites ―There are plenty of compelling reasons why small businesses today should have a Web presence. But with the advent of free, easy-to-use services, it's difficult to come up with a reason not to.‖ ~Entrepreneur.com There are numerous reasons why even the smallest of businesses can benefit from a Web presence, but here are five key considerations: •Visibility: With more and more consumers logging onto the Web to research products and services, if they are going to find your business, your business needs to be on the Web. •Reach: With a Web site, you are no longer limited to a customer base that is in physical proximity to your shop. Your place of business may be in Boston, but your customers can be in Bangkok. •Customer service: When customers can log onto your Web site and easily find the information they want-when they want it-their satisfaction increases. •Competition: A professional looking Web site can level the playing field for smaller companies trying to compete against larger enterprises. It's also a way to stay in the game; even if people can't find you on the Web chances are they can find your competitors. •Credibility: When you can point customers, partners, even potential employees or investors to a Web site, it tells them you are a serious business. Source: www.entrepreneur.com
    100. 100. Getting Your Site Up and Running ―There are plenty of compelling reasons why small businesses today should have a Web presence. But with the advent of free, easy-to-use services, it's difficult to come up with a reason not to.‖ ~Entrepreneur.com Start with the basics: •Name •Logo •Location •Contact information •Brief description of your product or services Build your own website: •Squarespace.com •GoDaddy.com (Website Tonight) •Wix.com •Site2u.com Don’t have a ―holding page‖ when you can provide content!
    101. 101. Don’t Let Your Blog Overwhelm You! Is posting a blog every day best for my company? •Do you have time? •Do you use your blog to improve your writing? •Do you provide real-time news on a regular basis? •Do you need to build up content to improve SEO opportunities? •Do you plan to post short, to-the-point content as opposed to long-form articles? •Can you plan ahead enough to ―story bank‖ content ideas for ―rainy days?‖ •Can you integrate video posts, or picture posts, into your blog? Is posting 1-3 times per week or less frequently right for my company? •Can you write long-form articles or stories on your topic? •Can you engage with your readers or promote your blog to get additional traffic? •Does time only allow for less frequent posts? •Can you create a ―content calendar‖ to schedule topics and posts? Blogging shouldn’t be a chore: if posting daily isn’t working out for you, it’s probably not working well for your readers either!
    102. 102. Promoting Your Blog 1. Your content should be Fantastic: Yes, I know you are backing your content to the hilt, but is it really any good? You need to understand that there are plenty of people, some of them authority figures in their niche, who are tackling the same subject as you are. So, you need to take great pains to ensure that your content is interesting, is a problem solver and is engaging. More importantly, it must be what your target readers are looking for. By giving them something that they want, you are essentially taking the first step towards promoting your content. 2. Update your blog regularly: One blog post a month is not really going to cut it with your readers. You need to ensure that you are going to update your blog regularly through the week. By making regular posts, you are giving your readers something to come back to. Just imagine a scenario wherein a reader loves what you write, but finds that your posts are few and far between. This reader will stop coming to your blog, even though he/she has a good opinion about what you write. So, updating your blog is one of the more subtle ways of promoting it, although quite a number of people will tell you that it isn‘t a part of marketing your blog at all. 3. Choose a Relevant Theme: Why do people spend a lot of time and effort searching for that perfect theme for their WordPress blog? It‘s because the choice of the theme will make or mar their efforts. The right theme is the one that is relevant to the purpose of your blog, looks good and offers users a very nice user experience. This is also something that makes people come back to your blog, again and again. On the other hand, a theme that is not user friendly and looks very ordinary is a put off. Such blogs usually don‘t work. Source: www.famousbloggers.com
    103. 103. Promoting Your Blog 4. Identify and Market your USP: Your blog needs to have a unique selling proposition, which is its driving force. This is what separates the ordinary blog from something that is extraordinary. More often than not, what most bloggers do is that they leverage their personal credentials to define their USP, for e.g. somebody who is blogging on internet marketing, might have a decade worth of experience in the same, in this case the experience is the USP. It helps that person create a brand (yes treat your blog like a brand) that his readers will trust. 5. Give your Blog Character: If you want people to relate to your blog, then you need to personalize it. Think of your blog as an extension of your own persona and write accordingly. Your blog is about your perceptions, ideas and opinions about a particular niche or subject. Exude confidence, pride, expertise, and a whole lot of other qualities with your blog. Your blog should come across as something that means business and believes in its posts, which essentially means that as a blog owner you identify with whatever is written on it. 6. Fixing Permalinks: If you are serious about blogging and promoting your blog, you need to get some idea about optimizing your blog and its content. The easiest optimization technique that can be used is by ensuring that the URLs of your blog posts have contextual keyword/s. For this to happen, you need to create your Permalinks accordingly. Don‘t worry, it‘s a pretty easy process and you can do it easily on your WordPress blog. 7. Showcase Credibility: This is of paramount importance. One of the better ways of ensuring that your blog exudes credibility is packing your content with facts and figures. Also make it a point to answer the comments that are posted on the blog. There are times when readers will have a contrary option to yours and will want to debate the points mentioned on a particular post. Don‘t back away from replying to their comments. If you trust the veracity of the content posted on your blog, you must be willing to defend it. Over time, this creates a credible reputation for your blog. Something else you should do and not forget is to provide your contact details. You must give users an option to get in touch with you. This breeds credibility as well. Source: www.famousbloggers.com
    104. 104. Promoting Your Blog 8. Offer Variety: If you want your content to do all the talking for you, it‘s important to use variety. Purely text oriented content kills readers interest after a period of time. So, try to mix and match your content by not just offering textual content but also offering videos, infographics, whitepapers and even PDF presentations on your blog. Variety, they say, is the spice of life, and nowhere is this truer than in your blog. 9. Facebook Profile: Yes, why not use the ever increasing potential of social media for your promotional efforts. Setup a Facebook page. Use your personal profile to market your blog. You need to give details about your blog and what it is all about to prospective readers and this becomes a breeze if you use your personal profile to market your blog. You can share the links to your blog posts through your Facebook profile. 10. Tweet… Tweet!!: Your blog needs the cute little blue birdie, so create that Twitter handle for your blog, and keep updating your handle, every time you make a blog post. You can even send out related tweets and interact with the followers of your blog, one-to-one. What you could do is that you can integrate your Facebook page with the profile you have created for Twitter. This will take away the need to make separate updates on both the social media platforms. An update done on one will reflect on the other. 11. On-Blog Twitter and Facebook Engagement: There are plenty of ways you can do this, but one of the better ways is by adding Facebook ‗Like‘ and ‗Tweet‘ buttons at the end of every page. So, if the visitor likes your post, they can click on the Like button and the link to your blog post will appear on their Facebook profile page. Not only will this help your blog post go viral, but search engines do consider the number of ‗likes‘ in their search algorithm to rank your page. The Tweet this button performs along similar lines, and visitors, who press this button, will send out a Tweet with respect to your blog post. All in all, these are the kind of social sharing mechanisms that most bloggers are adopting as they are reaping rich dividends of the same. Source: www.famousbloggers.com
    105. 105. Promoting Your Blog 12. Email Marketing: When it comes to online promotion, sometimes, it‘s the tried and tested marketing methods that also need to be made a part of the marketing mix. Take for example the case of email marketing. With the advent of more innovative tools and techniques, not many give it the importance it earlier merited. But, if you want more and more users to adopt your blog, you need to distribute your content to prospective readers. This is where email marketing comes in handy. So, use it. 13. You won’t escape Keyword Research: Whatever, your online marketing techniques are, if there is one thing that you can‘t escape is keyword research. You need to identify those keywords for which you want your blog to be ranked. You need to target only those keywords that are going to be used by your target readers to search for your blog. One of the best strategies in this regard is to target a mix of low volume and high volume keywords. There is very little chance of going wrong in this case, as you will be covering all your bases. 14. Blog Optimization: The great thing about the WordPress platform is that it offers you an SEO pack plugin that is easy to install and helps you optimize your blog, by optimizing your titles and description. So, use that to get started on your Homepage first, and try and optimize every important aspect on it, including the text, Title, Meta description etc., for your target keywords. Once that is done, you will also need to optimize your category pages in the same manner. Remember it is a unified SEO approach that will work for you, and not a piecemeal approach. 15. How about a Facebook Fan Page?: Yes, one of the better ways of using social media to promote your blog is to create a Facebook Fan page. What this means is that you need to create a landing page on Facebook that offers information about your blog, and what it is all about. By using this page, you can even post your blog articles, pictures and any other information related to your blog. It‘s important not to confuse your fan page with your personal profile. They are two very different things. The latter helps you spread awareness about your blog, using your personal network, while the former helps you collect ‗fans‘ who have subscribed to your Fan page; these fans actually want to know about any new updates and happenings on your blog. Source: www.famousbloggers.com
    106. 106. Promoting Your Blog 16. Using YouTube Videos: This is something that requires a bit of creative effort from your side, but if you get it right, and are able to link YouTube videos to your WordPress blog site, there is no better way to promote your blog. Start off with a video that is really simple and which helps you get the hang of creating videos for your blog. As you go along, you can get a little more creative and do something that is really innovative. 17. Use Voting Sites: Another great promotional strategy is to use social news sites and discovery engines like Reddit, StumbleUpon, and BlogEngage, which accept posts and allow readers to vote for the content. This helps you generate a pretty good amount of backlinks to your blog and what‘s more regular submission of your posts to these sites, does help improve blog traffic, as well. 18. Network within the Blogging Community: As a blogger, you are a part of the larger blogging community that interacts with each other on various discussion forums and other sites. What you need to do is become an active member of this community and make constructive contributions in terms of your opinions, ideas, suggestions and anything and everything related to your niche and blogging in general. This will not only help you improve your reputation and the credibility of your blog, but it will also help you place a finger on the pulse of the latest trends, and use them in your blog. Source: www.famousbloggers.com
    107. 107. Promoting Your Blog 19. Effective Communication: You might be wondering, why this is not right at the top of the ‗ways‘ given for promoting your blog…. There are two reasons… first, these tips have not been given in their order of importance and second, communication is something that stays relevant through your blogging activity. The reason why I have mentioned this pointer at this junction is to drive home the point that at every stage of the blogging process, you need to communicate effectively. You need to make them feel that your blog is something that they cannot do without; and for this to happen effective communication is a must. •Here are just some of the elements of an effectively communicated message (blog content): •Proper preparation of the message •It must have clear purpose •Keeping the User engaged at every step of the message •You pour your heart into the message •You must be passionate about your message •It must be complete and correct •It must help people make a decision (call to action centric) •Most importantly, it must be considerate of the target readers‘ views •Communicating effectively with your readers is the essence of a successful blog. You can promote it across every known channel, but if it doesn‘t come across as honest, you won‘t be able to market your blog successfully. 20. Patience is the key: I want to conclude the pointers by mentioning one important attribute that all bloggers must possess while promoting their blog and that is patience. You will do well to remember that your blog cannot go from zero to being a hero in double quick time. So, by being patient, you are giving yourself time to experience the fruits of your professional labor. I am sure these 20 ways of blog promotion will prove to be immensely useful to you and will help your blog become popular in its niche. But, a word of caution – Promotion is all about learning and implementing new strategies and also reworking existing strategies to suit the need of the hour. So, keep monitoring your results with respect to each and every promotional strategy that you adopt, and keep making changes whenever your think they are needed. Source: www.famousbloggers.com
    108. 108. Social Media
    109. 109. Setting up a new business on social networks takes much more than filling in a form. Lots of the most important aspects are easily overlooked when creating a new business profile or page. Maintaining consistency across the web with your brand‘s voice and visual elements is critical for brand recognition. You‘ll also need to pay attention to who will run your accounts, and how they‘ll do so. Even if you‘ve already got your company‘s social media accounts set up, check these seven important points in case you‘ve overlooked any. 1. Consistency When your business is being represented on networks like Facebook and Twitter as well as your own website, you need to ensure it‘s recognizable everywhere. Too much variety in the look and feel of your profile or the voice behind your account can cause confusion to your audience. By using a strong visual style on both its Facebook Page and official website, the brand becomes immediately recognizable. Though each social network demands a slightly different approach to get the best results, if the core themes and style of each account is recognizable, your customers will more easily find and connect with you. Source: www.teamtreehouse.com 7 Things Every Entrepreneur Should Consider When Setting Up Social Media Accounts
    110. 110. 2. Visual branding As the most obviously recognizable element for your audience, start by keeping your visual elements as consistent as possible. Use the same color scheme on each profile and a matching avatar or profile picture. On the networks that allow a header image, keep this in-line with your visual branding choices as well. An easy way to start this process is to work from your company website. Use the colors and logos you‘ve chosen to create appropriate visual elements for social networks that either match or show a similar style to your site. 3. Voice When you decide what kind of story or themes you want to portray as a company, keep this consistent. Matching the voice and general themes of your updates will help your audience identify your brand more easily in different places around the web. Your customers should be able to get a feel for your company culture and what you stand for by looking at your social media posts. Starting with a core message or theme is a good way to keep a common thread running throughout your updates. 7 Things Every Entrepreneur Should Consider When Setting Up Social Media Accounts Source: www.teamtreehouse.com
    111. 111. 4. Multiple users If you‘re planning on having multiple users posting updates and responding to customers, it‘s important to have a plan in place to ensure this works smoothly. Particularly when responding to customer requests or questions. You want to ensure customers receive a timely response from your team, but you don‘t want to flood them with multiple answers at once, either. A tool like Hootsuite, Sprout Social or Buffer can be really useful in managing multiple users for your company‘s accounts. Some team-based social management tools even offer the opportunity to approve every update before it‘s sent, which can help maintain consistency. This may be a good idea when you first get started or if you bring a new employee on board. 7 Things Every Entrepreneur Should Consider When Setting Up Social Media Accounts Source: www.teamtreehouse.com
    112. 112. 5. Guidelines Another good way to ensure your team is all on the same page is to set clear guidelines for social media use. Outline what you‘re trying to achieve with your social media accounts and what message is important for your business to get across. Don‘t forget to mention what‘s not appropriate ahead of time to save yourself headaches down the track. When your team members know what the aim of your company‘s social media accounts is and what‘s expected of them, they‘ll be better equipped to make decisions. This will help with maintaining consistency and high quality updates as well. If you plan on having final approval of everything that gets sent out, or putting someone else in charge of approval, it‘s important that your team understand this. Even if you‘re going it alone to begin with, guidelines can be really useful when you get off track or are unsure how to approach a particular situation. 7 Things Every Entrepreneur Should Consider When Setting Up Social Media Accounts Source: www.teamtreehouse.com
    113. 113. 6. Scheduling If you‘re using a social dashboard like Hootsuite or Sprout Social mentioned above, you‘ll have scheduling features built-in. If not, you can sign up for Buffer (www.bufferapp.com) which sends scheduled posts at pre-set times. Inside Buffer, you can choose a list of times that you‘d like to post updates each day. You can then fill up your account with updates that are ready to go, and the app will push them out for you when each set time rolls around. With something like Hootsuite you have more control in the moment, because you can set a specific posting time when you write the update. You may even like to try both options, as Hootsuite and Buffer both offer free accounts. Scheduling can be really useful if you have customers spread across different time zones or if you tend to set aside particular times during the day to post updates and share content. The Buffer method allows you to easily add several updates at once, but have them posted at spaced intervals so as not to overwhelm your followers all at once. 7 Things Every Entrepreneur Should Consider When Setting Up Social Media Accounts Source: www.teamtreehouse.com
    114. 114. 7. Understand the ‘why’ When you are putting time and money into your company‘s social media presence, you‘ll want to see a return. A measurable return, at that. Unfortunately, you can‘t use any measurements unless you know what you‘re looking for. The reasons why you‘re using social media and what you hope to get out of it are critical points to explore. Whether all the work is being done by you, or you‘ve got a double-figure team looking after your accounts, there has to be a clear purpose behind your efforts. Are you trying to find more customers, more sales leads? Are you providing more opportunities for customers to contact you? Are you simply improving your brand‘s recognition? The reason behind your social media plan will not only inform your actions, but how you measure your results as well. If you‘re in it for sales leads, more followers won‘t matter so much as someone who is aiming for wider brand recognition. Explore these questions and use them to write your guidelines. 7 Things Every Entrepreneur Should Consider When Setting Up Social Media Accounts Source: www.teamtreehouse.com
    115. 115. Crisis Communications • One thing to remember that is crucial in a crisis is tell it all, tell it fast and tell the truth. If you do this you have done all you can to minimize the situation. Source: Crisis Communications Plan – A PR Blueprint http://www3.niu.edu/newsplace/crisis.html#2
    116. 116. Crisis Communications
    117. 117. Thank You… Jeff Hecht Apollo Group/University of Phoenix Jeff.Hecht@Apollo.edu
    118. 118. Reminders
    119. 119. 120 Cleantech Open Confidential Information – All Rights Reserved Reminders • Work on your worksheets – keep up each week, it will make it easier • Complete webinar survey you will automatically receive from Webex – we want your feedback • Next webinar is Tuesday, July 23rd – Check your Accelerator wiki http://wiki.cleantechopen.com/accelerator- wiki/2013-webinars/ for updates on webinars – Session 1: Markets and Getting to Them - 1:30pm to 2:30pm, PDT • Speaker: Niraj Kohli, President, CSC • Be sure to send in your top 3 expectations you have for the next worksheet webinar. Link is in the July 23rd Session 1 webinar – Session 2: Term Sheets - 2:45pm-4:00pm, PDT • Speakers: Julio Vega & William Perkins, Partners, Bingham Partners

    ×