• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
Market Testing, The Agile Way
 

Market Testing, The Agile Way

on

  • 2,562 views

This webcast is for product owners on how to do market testing in an agile fashion. We've created a methodology called a "Market Sprint" that allows you to very quickly discover and prove out ...

This webcast is for product owners on how to do market testing in an agile fashion. We've created a methodology called a "Market Sprint" that allows you to very quickly discover and prove out go-to-market models for new or pivoting products. It's a great way to validate requirements and buying patterns in the market before having your team write code.

Statistics

Views

Total Views
2,562
Views on SlideShare
1,155
Embed Views
1,407

Actions

Likes
2
Downloads
42
Comments
0

5 Embeds 1,407

http://www.explorics.com 1023
http://www.test.explorics.com 184
http://explorics.com 106
http://staging.explorics.com 59
http://kred.com 35

Accessibility

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment
  • Less money available – all focused on building. Used to have some wiggle room to bring in a sales/BD/marketing team, even during prototyping stage Less time available to get to know them More competition for attention… goes without saying So… we make a lot of assumptions
  • solution… do more cycles, more iterations, and involve the user
  • Usability is probably a necessary condition to monetization, but not sufficient.

Market Testing, The Agile Way Market Testing, The Agile Way Presentation Transcript

  • Market Testing, The Agile Way The Market Sprint @explorics Aggressive Market Testing
    • @explorics
    • www.explorics.com
    • @briangladstein
    • [email_address]
  • better market testing
  • time to release first product cost to create first product
  • we’re spending less time getting to know our customer
  • involve the user!
  • but what about the buyer?
  • what you want to avoid 6 12 18 24 30 36 first release expanded features major pivot 1 major pivot 2 traction… finally stagnation Users / Revenue Time In Business
  • lean startup / customer development
    • Customer Discovery
      • Stop selling, start listening
      • Test your hypothesis
    • Customer Validation
      • Develop a repeatable sales process
      • Only earlyvangelists are crazy enough to buy
    Steven Blank Eric Ries Market Sprint =
  • what the market sprint is
  • the market sprint
    • Process for quickly and inexpensively testing & validating go-to-market strategy
    • Demand-driven
    • Risk-reducing
    • Evidence-based
    • Monetization-focused
  • start with demand. deliver what people want.
    • Market Sprints are demand-driven
  • finding demand vs. creating demand
  • start with your biggest unknown. figure it out. then move on.
    • Market Sprints are risk-reducing
    • Market Sprints are evidence-based
    research testing
  • get outside. get dirty.
  • there is a big difference between “would you buy” and “will you buy”
    • Market Sprints are monetization-focused
  • how the market sprint works
  • we developed the market sprint concept based on agile (review market observations) repeatable demand gen engine (at limited scale) Program artifacts
    • Execute Iterate Analyze
    • Next Highest Risk
    • Assess & Plan
    • Design a Test
    The Market Sprint Process
  • phase 1: assessing your market & planning your sprint
  • 3 variables, 3 unknowns Target Customer & Pain Point Channel & Message Compelling Offer
  • one variable is your anchor hold it steady throughout the sprint
  • one variable is your pushpin doesn’t need to be optimal, just good enough
  • you iterate on the last variable change parameters, run experiments, gather results
  • examples: 4-8 week sprints Anchor Pushpin Iterate Target: HR reps at small & mid-sized companies Channel: Google Adwords Offer: Range of engagement programs & trials Channel: Telemarketing Offer: Meeting with in-house thought leadership Target: Who at target companies bites, why? Target: Data analysts Offer: Downloadable software Channel: Various communities & online ad platforms
  • the sprint map tracking progress & demonstrating results ANCHOR PUSHPIN ITERATE Target Customer Pain Point Channel Message Conversion Offer Interest
  • discovering your target segment analysis market sizing buyer/user personas
  • discovering your channel channel map credit to B2B Lead Blog elevator pitch funnel analysis
  • discovering your offer competitive & landscape analysis conversation roadmap credit to Corporate Visions, Inc.
  • preparing the sprint map ANCHOR PUSHPIN ITERATE Gen Counsel Sales/Mktg Execs Prod Mgrs Tele mktg Meeting Target Customer Pain Point Channel Message Conversion Offer Interest
  • phase 2: designing the test
  • define an experience, starting with demand Search Ad Hate your antivirus? Compare it with Bit9's advanced protection that stops all malware. bit9.com/amp Download Install Landing Page Register Instructions Forum WEB DESKTOP
  • identify risks concentrate on the biggest one Search Ad Hate your antivirus? Compare it with Bit9's advanced protection that stops all malware. bit9.com/amp Download Install Landing Page Register Instructions Forum WEB DESKTOP not enough search volume poor conversion lacks credibility – people don’t download instructions too difficult registration cancelled
  • eliminate complexity everywhere else Search Ad Hate your antivirus? Compare it with Bit9's advanced protection that stops all malware. bit9.com/amp Landing Page Instructions Forum WEB focus here don’t need a download yet… just need to know if they click the link “ we’re almost ready to launch” page, engage on forum anyway
  • maximum flexibility minimum cost
    • track in salesforce.com
    • conduct a transaction
    • create documents, landing pages, graphics
    • acquire a list
  • vaporware, bait & switch in the name of learning
    • 50%+ conversion
    • No angry users!
  • know exactly what you are going to measure, what success means
  • phase 3: executing, iterating, and analyzing
  • preparing the sprint map ANCHOR PUSHPIN ITERATE Gen Counsel Sales/Mktg Execs Prod Mgrs Tele mktg Meeting Target Customer Pain Point Channel Message Conversion Offer Interest
  • toss stuff out that isn’t working ANCHOR PUSHPIN ITERATE Gen Counsel Sales/Mktg Execs Prod Mgrs Tele mktg Meeting not reachable no urgency Target Customer Pain Point Channel Message Conversion Offer Interest
  • advance stuff that is working ANCHOR PUSHPIN ITERATE Gen Counsel Sales/Mktg Execs Prod Mgrs Tele mktg Meeting revenue recovery Target Customer Pain Point Channel Message Conversion Offer Interest
  • build connections ANCHOR PUSHPIN ITERATE Gen Counsel Sales/Mktg Execs Prod Mgrs Tele mktg Meeting revenue recovery 10-25% more $ Target Customer Pain Point Channel Message Conversion Offer Interest
  • converge on conversion ANCHOR PUSHPIN ITERATE Gen Counsel Sales/Mktg Execs Prod Mgrs Tele mktg Meeting revenue recovery 10-25% more $ rev assess-ment Target Customer Pain Point Channel Message Conversion Offer Interest
  • DRIVE LEADS! ANCHOR PUSHPIN ITERATE Gen Counsel Sales/Mktg Execs Prod Mgrs Tele mktg Meeting revenue recovery 10-25% more $ rev assess-ment leads Target Customer Pain Point Channel Message Conversion Offer Interest
  • phase 4: go after your next biggest risk
  • identify risks concentrate on the biggest one Search Ad Hate your antivirus? Compare it with Bit9's advanced protection that stops all malware. bit9.com/amp Download Install Landing Page Register Instructions Forum WEB DESKTOP not enough search volume lacks credibility – people don’t download instructions too difficult registration cancelled
  • usually, switch pushpin & iteration ANCHOR ITERATE PUSHPIN Prod Mgrs Tele mktg revenue recovery 10-25% more $ Meeting custom report SaaS product Target Customer Pain Point Channel Message Conversion Offer Interest
  • some lessons learned
  • don’t be afraid to go out on a limb
    • people won’t flame you publicly
    • people won’t be pissed at shortcomings
    • people won’t challenge your message
    • people won’t REMEMBER!
    you don’t have far to fall
  • set expectations
    • Leads come late.
    • Help people understand you are building an engine.
    • Otherwise they will only look for leads.
  • use the expertise of partners
    • SEO
    • PPC
    • Email
    • Copy writing / editing
    • Marketing automation
    • Telemarketing
    • Indirect marketing
    • Blogging
    • Social media
    • PR / PR 2.0
    • Influencer relations
  • choosing partners
    • make sure they can support you with:
    • tight test cycles
    • rapid changes
    • communication
    • metrics, analysis
  • Thank you!
    • Questions?
    • Feel free to reach out.
    • @briangladstein – bg@explorics.com
    • www.explorics.com