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Pitch OverviewProblem: Foreign SMEs don’t know how effective their social media marketing isProject Name: Weibo Agent gPitch: Boost your local business by measuring the effectiveness of your Chinese social media campaign
ProcessExperiments p 1 2 3 4 Foreign SMEs that Foreign SMEs that Foreign SMEs that Foreign value Customer SMEs value value Social Media S i l M di Social Media S i l M di Social Media SME Managers Need a tool to These SMEs are SMEs see value in wants to be effectiveness of Riskiest Assumption p Social Media willing to outsource g Personally involved Social Media Social Media in Social Media MarketingResults 2/5 1/5 1/5 5/5 INVALID INVALID INVALID VALID Foreign SMEs that These SMEs want a Need measurement Need richer features value in‐house tool and Learned Social Media Would want to understand tool instead of on promotion p promotion status like assistance how effective it isDecision PIVOT PIVOT PIVOT PERSEVERE
Money Shot Interviewed 6 foreign small business owners Every single one was seriously interested in trying this out 5/6 were willing to pay from 50 to 1000 RMB for this service, most from 50 to 100
Next StepsRiskiest assumption: Market size is big enough to support a small businessBig vision: Helping foreign businesses build a social media presence and grow their business with local clients in ChinaTeam: Jacob Mike Nicola Xiaowen Yi Jacob, Mike, Nicola, Xiaowen, Yi