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.
8. 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
19. we developed the market sprint concept based on agile (review market observations) repeatable demand gen engine (at limited scale) Program artifacts
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21. phase 1: assessing your market & planning your sprint
23. one variable is your anchor hold it steady throughout the sprint
24. one variable is your pushpin doesn’t need to be optimal, just good enough
25. you iterate on the last variable change parameters, run experiments, gather results
26. 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
33. 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
34. 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
35. 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
40. 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
41. 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
42. 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
43. 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
44. 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
47. 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
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.