Lean Market Research for Lean Startup machine Workshop

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Brief lecture on "lean market research" for the Lean Startup Machine workshop that was held in Tel Aviv, August 29-31, 2012.

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Lean Market Research for Lean Startup machine Workshop

  1. 1. Lean Market Research Rebecca Steinberg HersonThe Lean Startup Machine Workshop Tel Aviv, Israel August 30, 2012 www.theleanmarketer.com Copyright © 2012 Rebecca Steinberg Herson 1
  2. 2. A bit about me• Led global marketing for over a decade in tech companies & non-profits• 3 high-growth Deloitte Fast 50 companies• Involved in IPOs, acquisitions (both sides)• Primarily B2B, some B2C• Today: founder & principal at The Lean Marketer, providing outsourced CMO services to companies in: – SaaS – Social Networking – Big Data – Physical Security – etc. www.theleanmarketer.com 2
  3. 3. Agenda• Getting to know the customer• Getting to know the selling environment – Competition – Channels – Events – Etc.• Test, Test, Test www.theleanmarketer.com 3
  4. 4. Research Cycle www.theleanmarketer.com 4
  5. 5. Early Research• What the customer wants• What the customer will BUY• What the competition is doing• What is working for the competition• … www.theleanmarketer.com 5
  6. 6. WHAT DOES THE CUSTOMER WANT? www.theleanmarketer.com 6
  7. 7. How to get to know your customer • Old days – Focus Groups – Phone surveys – Analyst Reports – Trade Shows  Today www.theleanmarketer.com 7
  8. 8. Market Surveys • Use surveys to – test product ideas – confirm your instincts – refine your message – discover new potential customers • Google docs - its completely free – Can be edited collaboratively (whoever you allow) – Lots of available designs, or embed in your own web page or blog • LinkedIn Polls – Survey your own network for free – Survey specific demographics for a fee (~$1/response) www.theleanmarketer.com 8
  9. 9. Paid Survey Audience Solutions• B2B: – http://www.thinkspeed.com/ $3 - 5K/ survey depending on the audience – SurveyMonkey (IT Decision Makers)• B2C: – SurveyMonkey Audience http://www.surveymonkey.com/mp/audience/ – $3.00 per finished response for standard demographics (gender, age, income, education, employment, location. Requires professional plan (~$20/month) www.theleanmarketer.com 9
  10. 10. IDENTIFY 3 QUESTIONS TO SURVEY YOURPOTENTIAL CUSTOMERS IN ORDER TO ACHIEVEBETTER PRODUCT-MARKET FIT www.theleanmarketer.com 10
  11. 11. Learning @ LinkedIn www.theleanmarketer.com 11
  12. 12. IDENTIFY 3 GROUPS WHERE YOURCUSTOMERS HANG OUT www.theleanmarketer.com 12
  13. 13. Don’t forget, polar bears can be sneakyEXPLORE YOUR ENVIRONMENT www.theleanmarketer.com 13
  14. 14. Identify Relevant Blogs / publications • Skim them daily • Comment on relevant posts/articles • Share relevant content in your ecosystem • Reach out to people for advice • Come launch time, this is the basis for your media list www.theleanmarketer.com 14
  15. 15. Social Media• Search Twitter, LinkedIn, Facebook for relevant people, groups, comments, companies, hashtags• Follow, read their tweets, check their blogs• Retweet relevant content – people appreciate it and it builds your credibility• Tweet your own thoughts – be authentic• “Lurk” for a while before you jump in – think cocktail party• Then, start discussions (LinkedIn)• Correspond with people who enter the discussion• DM influencers (Twitter)• Reach out to people – they are people, and most want to help Become part of the conversation www.theleanmarketer.com 15
  16. 16. Copyright (c) 2010 Rebecca Steinberg www.theleanmarketer.com 16 Herson
  17. 17. Copyright (c) 2010 Rebecca Steinberg www.theleanmarketer.com 17 Herson
  18. 18. Trade Shows – concentrated learning tool• If you attend, do your homework• Check on twitter what people are saying about the event, tweetups planned• Review all the exhibitors and speakers – who do you want to talk to? Do you want to meet the exhibitors or the attendees?• Most of the people in the booths are sales reps – is that who will be most useful for you? Some companies also send executives, but they don’t hang around waiting for visitors; you need to book an appointment• The Press are also there. Don’t bother with them unless you already have a customer they can talk to• Look up the people you want to meet on LinkedIn and memorize what they look like – you just might run into them in a hotel lobby• Missed the show? View the archives online www.theleanmarketer.com 18
  19. 19. Free tools for Web research• Identify industry events, active companies, potential partners, competitors http://www.google.com • Identify market trends over time, estimate potential volume and geographies http://www.google.com/insights/search/• Estimate traffic volume, cost of acquisition, find related keywords https://adwords.google.co.il/o/KeywordTool• Identify your competitors keywords: http://www.keywordspy.com/• Get your questions answered: http://www.quora.com/ www.theleanmarketer.com 19
  20. 20. Don’t Know? Post a Q on Quora www.theleanmarketer.com www.theleanmarketer.com 20
  21. 21. IDENTIFY 3 PLACES (ONLINE OR OFFLINE) THATWILL HELP YOU LEARN MORE ABOUT YOURENVIRONMENT (COMPETITORS, CHANNELS…) www.theleanmarketer.com 21
  22. 22. TEST TEST TEST www.theleanmarketer.com 22
  23. 23. A-B Testing• http://pickfu.com - $20 for 50 opinions – Use for A/B testing – Gauge popular opinion – Determine consumer preference – Predict consumer behavior www.theleanmarketer.com 23
  24. 24. Test Early and OftenThere is no substitute for watching real people try (and fail) to use your product www.theleanmarketer.com 24
  25. 25. THINK OF THREE THINGS YOU CAN TESTRIGHT NOW ABOUT YOUR PRODUCT www.theleanmarketer.com 25
  26. 26. Thank You! Rebecca Steinberg Herson rebecca@theleanmarketer.com +972-54-444-2372http://il.linkedin.com/in/rebeccaherson www.theleanmarketer.com 26

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