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2019 code camp tales from 17 money-validated products

tales from 17 money-validated products - How to get validation for the products you plan to go to market with?

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2019 code camp tales from 17 money-validated products

  1. 1. Pre-Product Validation
  2. 2. Pre-Product Validation
  3. 3. Tales from 17 Money- Validated Products
  4. 4. Florin Muresan CEO at the Squirrly Company 01 17 Products. Validated. Most of them at the Squirrly Company. 02
  5. 5. We deliver insanely great marketing software
  6. 6. 6,455+ Paying B2B customers who purchased subscriptions. This doesn’t include agency subscriptions or one time payments.
  7. 7. Over 90 Countries.
  8. 8. Great validation is what made us profitable in the first 9 months.
  9. 9. OUR 2012 First Round of Customer Development August Started Company. Received Investment. Second Round of Customer Development. Alpha Version. First One Year Payment. September October November
  10. 10. OUR 2013 Official BETA January Launched on WordPress Directory. First 5 Customers Ramen-Profitable. We no longer had to rely on outside funding. 3rd Feb 4th Feb October
  11. 11. So do you think Pre-Product validation works? Most people skip ahead. Build the product. Then find out nobody cares or they can’t sell it. I would never build a product before validating it… but sometimes I do.
  12. 12. It’s a huge gamble. If you’re not super skilled, nor super experienced: Don’t do it.
  13. 13. How do you validate that people need the product you think of building?
  14. 14. TYPES OF VALIDATION Would anyone care to use it for free? Is there any channel that helps me easily on-board new users that convert? Do they pay to have access to it? Don’t ask. Charge. Do I have more than one channel which consistently brings me customers? Interest Validation Channel-Market-Fit Money Validation Real-Market-Fit
  15. 15. These are the types. Can be done WITH or WITHOUT the product.
  16. 16. When they are done WITHOUT the product, they are called: pre-Product
  17. 17. ABOUT US 17 Products that have been validated with the Money- Validation type.
  18. 18. Cif2 net apps Squirrly SEO for WordPress Starbox PRO Udemy Course 02 01 04 03
  19. 19. ContentLook Squirrly SEO - cloud version Squirrly Social Squirrly SPY 07 05 08 06
  20. 20. - twitch for marketing Education Cloud 2020 Squirrly - Web Developer Kits Squirrly Digital - One License. All of Squirrly.11 09 12 10
  21. 21. Squirrly SEO - App for Shopify OneGeek - donations & ecommerce Agency Productized like McDonald’s Expectation Marketing Book15 13 16 14 SERP Checker 17
  22. 22. We are always doing validations. It’s a continuous process, because the market keeps moving. New trends, new players, new ideas, new needs. All of these can break something that was validated 7 years ago. Something validated 7 years ago might lose its importance and become obsolete in the new order of the world.
  23. 23. SEO was dead. Then came content marketing. Now content marketing is almost dead. SEO rises once more. Internet Marketing Was All The Rage. No longer a thing. Digital Marketing is the game now.
  24. 24. Collaboration with Agencies offering many services to customers for whom they build sites. They build sites (mostly WordPress sites) for customers. SEO, Social Media, Web Design. Agencies (full-service) Web Developers Freelancers
  25. 25. Do they do everything? Or are they mostly tech suppliers? They perform for customers. This brings many differences. Hands-on / just suppliers of amazing tech Different jobs On-going support / just a one time thing.
  26. 26. PHASE So it begins. 00
  27. 27. What problem needs solving?
  28. 28. Does it REALLY need solving? Is this a problem worth solving?
  29. 29. Is it worth solving: - For you (passion?) - For other people? - is anyone complaining? - How many of them are there in the world? - can you identify many people complaining?
  30. 30. Tools of the trade: - Look at search queries (google, twitter, quora) - Targeted forums, FB groups, comments on blog posts - Study reviews about competitors - maybe you find huge pain points they are missing.
  31. 31. Can you find something? - If YES -> move on to Phase 01. - Otherwise… think of a different problem.
  32. 32. PHASE Ask. 01
  33. 33. What do you think about problem? How often do you interact with problem? Have you talked to other people about problem? Are you actively looking for solutions to bypass problem? Ask the people you think have the problem:
  34. 34. Does it keep you up at night? Is it one of your TOP 3 problems RIGHT NOW? Is it something you started thinking about every waking hour / every day / every week / every month / every year. Is there anyone out there trying to solve this for you… right now? Ask the people you think have the problem:
  35. 35. Do YOU think the problem is well defined? - Do all of them feel it? - Do they feel completely different things about the problem?
  36. 36. - Ask them: If there’s one thing you could change about the way you Z what would it be? ^^ the answers to this give us more insight into what the solution should be than anything else.
  37. 37. Tools of the trade: - Keep notes after every single interaction - Buy them coffee / tea - Tell them that you gained valuable insight and that you’ll think of a way to solve it
  38. 38. PHASE Wireframe. Show. Don’t tell. 02
  39. 39. Tools of the trade: - Wireframe. - Hit the list. Get them to a new meeting. - Look them in the eye as they play with the wireframe. Do their eyes glow at some point? Do you feel like they’re reaching “Aha!” moments?
  40. 40. What you can try: - Show different wireframes to different groups. - Have 50 people? - Show wireframe 1 to first 10. See if needs re- adapting. Then show to next 10. ETC.
  41. 41. PHASE Divide and Conquer. 03
  42. 42. - What makes them different from one another?
  43. 43. How many Customer Profiles can you make?
  44. 44. - What can you complete about each persona (customer profile) ? What do they: see, hear, do, think, dream, fear, obsess over, etc. How big is the problem for each of them?
  45. 45. How did each profile react to your Wireframe?
  46. 46. PHASE Just one more thing before I build. 04
  47. 47. Hi %FIRSTNAME%, I saw that you're responsible with training employees and I wanted to introduce myself. My name is Florin Muresan and I'm working on Learning Solutions by Squirrly, that helps you perfectly train new employees, new customer support reps and even new sales agents. Things have been going great, we onboarded large Pharmaceutical companies and other enterprises from Europe -- but we think that we can still make the product better. Given your experience with workforce training and employee development I thought you might be able to shed some light as to how useful you find our product. For that, I would ask you to join our Launch webinar and see what we've been working on. Then, after the event, let me know how you find the product. Or if you'd like a Demo before the event with our Training Expert, I could arrange that. Just hit the reply button Best regards, Florin
  48. 48. 1) Make an Invision presentation. UI and UX. Clickable. Seems to “work” like the real thing that you would actually build for them. 2) Get more people from each profile to see the new presentation. 3) How many of them (and from which group) tell you: - where do I sign-up? Can I use this today? Where can I pay? Do you accept PayPal? Can I pre-pay for a whole year?
  49. 49. That’s how it’s done.
  50. 50. - I want to pay right now … hint: choose this guy
  51. 51. REVIEW What you have. 05
  52. 52. - A clear customer profile (at least 1) who will spend money on your APP asap. - Other profiles who will potentially buy in the future, if you expand the solution or prove it on the market - A channel (at least one). You’ve managed to get people talking to you. That means you already know how to get them.
  53. 53. - Think of how you brought in the ones from the Persona who will buy asap. Bring more of them.
  54. 54. NOTES …. 06
  55. 55. - Email List - Ship by Product Hunt - LinkedIN - in-message ADS - Prospecting and using SalesFlare for outreach - Early Adopter - 3 Features versus 20 Features. - Going after markets filled with competitors, but un-happy customers.
  56. 56. - Product Launch Formula - Not enough validation interviews. Shopify App Problems.
  57. 57. Startup Espresso - Apple podcasts - Spotify - Stitcher
  58. 58. Collaboration with Agencies offering many services to customers for whom they build sites. They build sites (mostly WordPress sites) for customers. SEO, Social Media, Web Design. Agencies (full-service) Web Developers Freelancers